BPCE - 2019 Universal Registration Document
Contents
5
FINANCIAL REPORT
217
IFRS Consolidated Financial Statements 5.1 of Groupe BPCE as at December 31, 2019 Statutory Auditors’ report on the consolidated 5.2 financial statements IFRS Consolidated Financial Statements of 5.3 BPCE SA group as at December 31, 2019 Statutory Auditors’ report on the consolidated 5.4 financial statements BPCE parent company annual financial 5.6 statements Statutory Auditors’ report on the consolidated 5.7 financial statements BPCE management report 5.5
219
Message from the chairman of the management board
3 4 4
359
Group profile
Groupe BPCE at a glance
367
Asolid group generating robust performances
6 8
486 495
Balanced governance
Our commitment to making sustainable development a reality
10
502
543
1
PRESENTATION OF GROUPE BPCE
13
Controls of accounting and financial 5.8 reporting quality
547
1.1
Group history
14 16 18
Persons responsible for auditing the financial 5.9 statements
Understanding the structure of Groupe BPCE 1.2
552
Highlights 1.3
TEC 2020: a strategic plan focused on digital 1.4 transformation, commitment and growth
6
RISK REPORT Key figures 6.1 Risk factors 6.2
555
20 23 40 40
Groupe BPCE’s business lines 1.5
557 561 571 586 598 620 623 629 635 642 646 651 658
Calendar 1.6 Contacts 1.7
Risk management system 6.3
Capital management and capital adequacy 6.4
2
NON-FINANCIAL PERFORMANCE REPORT Putting our cooperative identity to work 2.1 for regional development Supporting the energy, ecological and social 2.3 transition in local regions Responsible internal and external practices 2.4 Applying CSR in our activities 2.2
Credit risks 6.5
41
Counterparty risk 6.6
Securitization transactions 6.7
Market risks 6.8
44 54
Liquidity, interest rate and foreign exchange 6.9 risks
Legal risks 6.10
66 83
Non-compliance and security risks 6.11
Operational risks 6.12
CSR reporting methodology 2.5
106
Climate risk 6.13
Report by one of the Statutory Auditors, 2.6
appointed as independent third-party, on the consolidated Non-Financial Performance Statement published in the Group management report
7
LEGAL INFORMATION
659
Charter of incorporation and articles 7.1 of association
110
660 662
Cross-reference table of the main social, 2.7 environmental and societal information
Share capital 7.2
112
Ownership structure and distribution 7.3 of voting rights
664 665 665
3
REPORT ON CORPORATE GOVERNANCE
Material contracts 7.4 Material changes 7.5
113
Statutory Auditors’ special report on 7.6 related-party agreements and commitments 666
Introduction 3.1
114 114
Corporate Governance Code 3.2
Management and Supervisory Bodies 3.3 116 Role and operating rules of governing bodies 3.4 158 Rules and principles governing the 3.5 determination of pay and benefits 169 Potential conflicts of interest 3.6 191
8
ADDITIONAL INFORMATION
679
Statement by the person responsible for the 8.1 universal registration document and for the annual financial report Cross-reference table for the universal 8.3 registration document Cross-reference table for the annual financial 8.4 report and the management report Documents on display 8.2
680 681
4
ACTIVITIES AND FINANCIAL INFORMATIONS 2019
193
682
Foreword 4.1
194 194 198 211 213 213 214
684 686
Significant events of 2019 4.2 Groupe BPCE financial data 4.3 BPCE SA group financial data 4.4
Glossary 8.5
Investments 4.5
Post-balance sheet events 4.6 Outlook for Groupe BPCE 4.7
Items contained in the Annual Financial Report are flagged in the Table of Contents with the following icon AFR The Statement of Non-Financial Performance is identified in the summary using the following icon SNFP
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