BPCE - 2020 Universal Registration Document

ACTIVITIES AND FINANCIAL INFORMATIONS 2020

BPCE SA GROUP FINANCIAL DATA

BPCE SA group financial data 4.4

4.4.1

BPCE SA group results

BPCE SA group’s income is calculated after restating the contribution of non-consolidated entities. In 2020, the transition from Groupe BPCE’s net income to BPCE SA group’s net income can be broken down as follows:

2020

in millions of euros

1,745

Groupe BPCE net income - excl. Coface net contribution Entities not consolidated or consolidated under a different method*

(1,508)

Other items

(14) 223

BPCE SA group net income - excl. Coface net contribution

Including the Banques Populaires, Caisses d’Epargne and their consolidated subsidiaries *

BPCE SA group posted pro forma net income attributable to equity holders of the parent of €223 million. Down by €444 million on a pro forma basis compared to 2019, it reflects the impact of the Covid-19 health crisis and a prudent provisioning policy.

Retail Banking & Insurance

Corporate & Investment Banking Corporate center

Asset Management

4

BPCE SA group

2020 pf

2019 pf

2020

2019

2020

2019 2020 pf

2019 pf

2020 pf

2019 pf

in millions of euros

Net banking income Operating expenses

3,175

2,780

3,225

3,760

2,803

3,337

563

724

9,766 10,600

(2,013)

(1,810)

(2,387)

(2,492)

(2,099)

(2,235)

(1,548)

(1,888) (1,164)

(8,047)

(8,425)

Gross operating income

1,162

969

838

1,268

704

1,102

(985)

1,719

2,175

Cost/income ratio

63.4% 65.1% 74.0% 66.3% 74.9% 67.0% ns

ns

82.4% 79.5%

Cost of risk

(250)

(149)

(27)

(8)

(819)

(312)

(108)

(20)

(1,204)

(489)

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

(17)

11

1

1

10 (0)

10

212

209 (15) (82)

206

231 (10) (82)

(7)

7

(45)

13

(15)

(111)

(163)

Income before tax

889

839

768

1,273 (353) (447)

(105)

786

(993)

(1,073)

558

1,825 (563) (595)

Income tax

(263) (110)

(275)

(226) (209)

33 14

(212) (176)

314 113

277 106

(142) (193)

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

(78)

515

486

332

473

(57)

397

(567)

(690)

223

667

In Retail Banking & Insurance, net income attributable to equity holders of the parent increased by €29 million compared to 2019, driven by the improvement in the results of the Financial Expertise Solutions and Insurance sub-divisions. The Asset & Wealth Management division, with a result of €332 million, was down by 29.8% compared to 2019.

Corporate & Investment Banking posted net income of -€57 million. The Corporate center’s net income attributable to equity holders of the parent included the contributions of the BPCE SA group central institution, Natixis, Groupe Crédit Foncier, and BPCE International, as well as the -€207 million contribution to the Single Resolution Fund.

231

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE