BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

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

At December 31, 2019, “Non-current assets held for sale” and “Liabilities associated with non-current assets held for sale” included the assets and liabilities of Banque Tuniso-Koweïtienne, which are in the process of being sold. At December 31, 2020, the assets and liabilities of Banque Tuniso-Koweïtiennewere maintained in the lines “Non-current

assets held for sale” and “Liabilities associatedwith non-current assets held for sale”. In addition, the assets and liabilities of Fidor Bank AG, Coface and H2O are classified in accordancewith IFRS 5, in the context of the disposal described in paragraph 1.3.

Figures relating to the entities held for sale are shown below:

12/31/2020

12/31/2019

in millions of euros

Cash and amounts due from central banks

1,310

15

Financial assets at fair value through profit and loss

141

Financial assets at fair value through other comprehensive income Loans and receivables due from banks and similar at amortized cost Loans and receivables due from customers at amortized cost

54

47 72

141 389

403

Current tax assets Deferred tax assets

1

1

18 79

10 10

Accrued income and other assets

Investments in associates

446

Investment property

13

12

Property, plant and equipment

3 3

6 2

Intangible assets

NON-CURRENT ASSETS HELD FOR SALE

2,599

578

Debt securities

44 63

29

Amounts due to banks and similar

161 282

Amounts due to customers

1,601

Current tax liabilties Deferred tax liabilities

(1) 15

0

12 28 12

Accrued expenses and other liabilities

109 108

5

Provisions

Subordinated debt

7

4

LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE

1,945

528

5.8

INVESTMENT PROPERTY

Accounting principles In accordance with IAS 40, investment property is propertyheld to earn rent or for capital appreciation, or both. The accounting treatment for investment property is identical to that used for property, plant and equipment for all Group entities except for certain insurance entities, which recognize the property they hold as insurance investments at fair value, with any adjustment to fair value recorded in income. Fair value is calculated using a multi-criteria approach, by capitalizing rent at market rates and through comparisons with market transactions. The fair value of the Group’s investment property is based on regular expert valuations, except in special cases significantly affecting the value of the relevant asset. Investment property leased under an operating lease may have a residual value that will reduce the depreciable amount of the asset. Gains or losses on the disposal of investment property are recognized in income on the “Net income or expenses on other activities” line, with the exception of insurancebusinesses, which are recognized in “Income frominsurance businesses”.

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE