BPCE - 2020 Universal Registration Document

ACTIVITIES AND FINANCIAL INFORMATIONS 2020

GROUPE BPCE FINANCIAL DATA

Asset & Wealth Management, a Natixis business line consisting of: Asset Management, which operates on several international • markets, combining expertise in investment management and distribution; Wealth Management, with Natixis Wealth Management, • which offers wealth management and financing solutions for large private-sector investors; employee savings with “Natixis Interépargne,” a top-tier • player in employee savings plan management in France. Corporate & Investment Banking, a division of Natixis: Corporate & Investment Banking advises and supports • corporate customers, institutional investors, insurance companies, banks, public-sector entities, and financing for the movie industry. The Corporate center, which primarily includes: the Group’s central institution and holding companies; •

run-off activities of Crédit Foncier and BPCE International; • cross-business activities; • items related to goodwill impairment and the amortization of • valuation differences, as these items form part of the Group’s acquisition and investment strategy; the contribution to the Single Resolution Fund. • Segment reporting for Groupe BPCE has been restated as from the first quarter of 2019 and takes account of the transfer of the subsidiaries Banque de Tahiti, Banque de Nouvelle Calédonie, Société Havraise de Calédonie from Groupe BPCE International to the Caisse d’Epargne network. The segment information also accounts for changes during the fourth quarter of 2020 to the rules for BPCE SA’s re-invoicing of expenses recognized in respect of its duties as a central institution. As a result, and for comparison purposes, the income statement for the retail banking & Insurance and Corporate Center divisions for 2019 were restated.

Income statement by sector 4.3.3

Retail Banking & Insurance

Corporate & Investment Banking Corporate center

Asset Management

4

Groupe BPCE

2020 2019 pf

2020

2019

2020

2019

2020 2019 pf

2020 2019 pf

in millions of euros

Net banking income Operating expenses

16,457 16,050

3,225

3,760

2,803

3,337

55

447 22,540 23,593

(10,813)

(10,713)

(2,387)

(2,492)

(2,099)

(2,235)

(1,345)

(1,626) (1,179)

(16,644)

(17,065)

Gross operating income

5,644

5,337

838

1,268

704

1,102 (1,290)

5,896

6,528

Cost/income ratio

65.7% 66.7% 74.0% 66.3% 74.9% 67.0% ns

ns

73.8% 72.3%

Cost of risk

(2,042)

(1,028)

(27)

(8)

(819)

(312)

(110)

(18)

(2,998)

(1,365)

Share in income of equity-accounted associates Gains or losses on other assets Change in the value of goodwill

4

45

1

1

10

10

212

209

227

265

10

8

(45)

13

(15)

(109)

(6)

(144)

(1)

(88)

(88)

Income before tax

3,615

4,362

768

1,273 (353) (447)

(105)

786 (1,296)

(1,083)

2,982

5,338

Income tax

(1,173)

(1,429)

(226) (209)

33 14

(212) (176)

321 119

246 (1,045)

(1,748)

Non-controlling interests (minority interests) NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT - EXCL. COFACE NET CONTRIBUTION

(114)

(87)

106

(191)

(604)

2,328

2,846

332

473

(57)

397

(858) (136)

(731)

1,745 (136)

2,986

Net contribution by Coface

44

44

NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT

2,328

2,846

332

473

(57)

397

(993)

(687)

1,610

3,030

Net banking income in the Group’s three business lines was down 2.9% on 2019, impacted by the health crisis. Retail banking & Insurance posted solid performances in the second half of the year with the resumption of activities after the first lockdown and less stringent health restrictions in the fourth quarter, as a result of which the division’s revenues

increased by 2.5% in 2020. The relative contribution of Retail Banking and Insurance to net banking income, as compared to the contribution of the Group business lines, was 73% versus 14% for Asset & Wealth Management and 13% for Corporate&

Investment Banking.

219

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE