BPCE - 2020 Universal Registration Document

5

FINANCIAL REPORT

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

EQUITY INSTRUMENTS DESIGNATED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

Accounting principles Equity instruments designated at fair value through othecromprehensive income can include: investments in associates; • shares and other equity securities. • On initial recognition, equity instruments designated at fair value through other comprehensive income are carried at fair value plus any transaction costs. On following accounting dates, changes in the fair value of the instrument are recognized in other comprehensive income (OCI). These changes in fair value that accrue to other comprehensive income will not be reclassified to profit or loss in subsequent years (other comprehensive income not recyclable to profit or loss). Dividends are only taken to income when they meet therequired conditions.

12/31/2020

12/31/2019

Dividends recognized over the period Equity instruments held at the end of the period

Dividends recognized over the period Equity instruments held at the end of the period

Derecognition over the period

Derecognition over the period

Total profit or loss at the disposal date

Total profit or loss at the disposal date

Fair value at the disposal date

Fair value at the disposal date

Fair value

Fair value

in millions of euros

Investments in associates

1,642

58

17

(28)

1,495

94

14

2

Shares and other equity securities

32

35

(9) (7)

TOTAL

1,674

58

17

(28)

1,529

94

14

Investments in associates include strategic investments, “tool” entities (IT for example) and certain long-term private equity securities. As these equity investments are not held for sale, their classification as equity instruments designated at fair value through other comprehensive income is appropriate.

The cumulative amount of changes in fair value reclassified to the “Retained earnings” component during the period mainly concerns the liquidation of non-consolidated securities and amounts to €28 million in 2020.

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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