BPCE - 2020 Universal Registration Document
FINANCIAL REPORT
IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2020
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 of the first quarter of 2019 and takes account of the transfer of the subsidiaries Banque de Tahiti, Banque de Nouvelle Calédonie and Société Havraise de Calédonie from Groupe BPCE International to the Caisse d’Epargne network. The segment information also takes into account the 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, the 2019 and 2020 quarterly income statements for the Retail Banking & Insurance and Corporate Center divisions were restated for comparison purposes.
12.1.1 Results by division (1)
SEGMENT ANALYSIS OF THE CONSOLIDATED INCOME STATEMENT
Retail Banking and Insurance
Corporate & Investment Banking
Asset Management
Corporate center
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 (10,813)
16,050 (10,713)
3,225
3,760
2,803
3,337
55
447
22,540 (16,644)
23,593 (17,065)
(2,387)
(2,492)
(2,099)
(2,235)
(1,345) (1,290)
(1,626) (1,179)
Gross operating income
5,644
5,337
838
1,268
704
1,102
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) 209
(2,998)
(1,365)
Share in income of equity-accounted associates
4
45
1
1
10 (0)
10
212
227
265
Gains or losses on other assets Change in the value of goodwill
10
8 0
(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
246 106
(1,045)
(1,748)
Non-controlling interests (minority interests) Net income attributable to equityholders of the parent – excl. netcontribution by Coface
(114)
(87)
(191)
(604)
5
2,328
2,846
332
473
(57)
397
(858) (136)
(731)
1,745 (136)
2,986
Net contribution by Coface
44
44
REPORTABLE NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
2,328
2,846
332
473
(57)
397
(993)
(687)
1,610
3,030
Results of the Retail Banking and Insurance sub-divisions
Financial Solutions and Expertise
Banques Populaires
Caisses d’Epargne
Other networks
Retail Banking and Insurance
Insurance
Payments
2019 pf
2019 pf
2019 pf
2019 pf
2019 pf
2020
2020
2020
2020
2019
2020
2019
2020
2020
in millions of euros
Net banking income Operating expenses
6,315 6,305 6,917 6,919 1,134 1,109
901
846
431
423
760
448 16,457 16,050 (326) (10,813) (10,713) 121 5,644 5,337
(4,242)
(4,294)
(4,549)
(4,616)
(604)
(628)
(491)
(478)
(391)
(370)
(537)
Gross operating income
2,072 2,012 2,369 2,303
530
481
410
368
39
52
223
Cost/income ratio
67.2% 68.1% 65.8% 66.7% 53.2% 56.6% 54.5% 56.5% 90.9% 87.6% 70.7% 72.9% 65.7% 66.7%
Cost of risk
(828)
(417)
(914)
(419)
(117)
(79)
2
(2)
(185)
(111)
(2,042)
(1,028)
Share in income of equity-accounted associates Gains or losses on other assets
20
34
(17)
10
1 7
4
45
8
3
9
(3)
(1)
(6) 31
10
8
Income before tax
1,273 1,632 1,464 1,881
413
402
393
378
42
50
18 3,615 4,362
(1) Sector information is restated for the impact of the net contribution by Coface as net income attributable to equity holders of the parent, +€136 million in 2020 and -€44 million in 2019.
349
UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE
Made with FlippingBook - Online Brochure Maker