BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2020

Commissions on services Commissions on services are analyzed to separately identify their different items (or performance obligations) and to assign the appropriateshare of revenues to each item. Each item is then recorded in the income statement by type of service provided, and according to the method used to recognize the associated financial instrument: commissionspayable or receivableon recurring services are deferred over the period in which the service is provided (payment • processing, custody fees, etc.); commissions payable or receivable on occasional services are recognized in full in income when the service is provided (fund • transfers, payment penalties, etc.); commissions payable or receivable on execution of a significant transaction are recognized in full in income on completion of • the transaction. When there is some uncertainty about the amount of a commission (incentive fee in asset management, variable financial engineeringcommission, etc.),only the amount that the Group is already certain to receive, given the informationavailable at the end of the fiscal year, is recognized. Fees and commissions that form an integral part of the effective yield on an instrument, such as fees on loan commitments given or loan set-up fees, are recognizedand amortized as an adjustment to the effective interest rate over the estimated term of the applicable loan. These fees and commissions are recognized as “Interest income” rather than “Fee and commission income”. Fiduciary and similar fees and commissions are those that result in assets being held or invested on behalf of individual customers, pension schemes or other institutions. Trust-management services mainly cover asset management business and custody services on behalf of third parties.

Fiscal year 2020

Fiscal year 2019

Income

Expense

Net

Income

Expense

Net (31)

in millions of euros

Cash and interbank transactions

58

(47) (29)

11

24

(55) (38)

Customer transactions

2,725

2,696

2,986

2,948

Financial services

407

(159)

248

515

(604)

(89)

5

Sales of life insurance products

1,242 1,720

///

1,242 1,211

1,222 1,754

///

1,222 1,155

Payment services

(508) (186)

(599) (139)

Securities transactions

270

84

222

83

Trust management services (1)

3,545

(10)

3,535

4,133

(4)

4,128

Financial instruments and off-balance sheet transactions

533 302

(472) (203)

61 99

446 305

(110) (474)

336

Other fee and commission income/(expense)

(169) 9,585

TOTAL FEE AND COMMISSION INCOME AND EXPENSES (2)

10,802

(1,615)

9,187

11,607

(2,022)

Including performance fees of €314 million (of which €286 million for Europe) in 2020 compared to €627 million (of which €537 million for Europe) in 2019. (1) At December 31, 2019, Coface contributed net fees and commissions of -€127 million (+€59 million in income and -€186 million in expenses, primarily recorded under Other). (2)

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE