BPCE - 2018 Registration document

6 RISK REPORT Summary of risks

transaction may give rise to higher-than-expected costs. Groupe profitability. Joint ventures expose Groupe BPCE to additional risks BPCE may also encounter difficulties with the consolidation of new and uncertainties in that it may depend on systems, controls and entities. The failure of an announced acquisition or failure to persons that are outside its control and may, in this respect, see its consolidate a new entity or joint venture may place a material strain liability incurred, incur losses or suffer damage to its reputation. on Groupe BPCE’s profitability. This situation may also lead to the Moreover, conflicts or disagreements between Groupe BPCE and its departure of key personnel. In the event that Groupe BPCE is obliged joint venture partners may have a negative impact on the targeted to offer financial incentives to its employees in order to retain them, benefits of the joint venture. this situation may also lead to an increase in costs and a decline in

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Registration document 2018