BPCE - 2020 Universal Registration Document

5

FINANCIAL REPORT

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

12/31/2020

12/31/2019

in millions of euros

Subordinated debt designated at fair value through profit or loss SUBORDINATED DEBT AT FAIR VALUE THROUGH PROFIT OR LOSS

100 100

100 100

Term subordinated debt Perpetual subordinated debt Subordinated debt and similar

14,462

15,864

287

287

14,749

16,151

Accrued interest

409

396 799

Revaluation of the hedged component

1,085

SUBORDINATED DEBT AT AMORTIZED COST

16,243 16,343

17,346

TOTAL SUBORDINATED DEBT (1) 17,446 Including €251 million for the insurance entities at December 31, 2020, versus €672 million at December 31, 2019. Coface contributed -€389 million at December 31, 2019 (1) (see Note 1.3).

The fair value of subordinated debt is presented in Note 10.

CHANGES IN SUBORDINATED DEBT AND SIMILAR DURING THE YEAR

Change in consolidation scope (2)

Other changes (3)

12/31/2019

Issuance Redemption (1)

12/31/2020

in millions of euros

Subordinated debt designated at fair value through profit or loss

100

100

SUBORDINATED DEBT AT FAIR VALUE THROUGH PROFIT OR LOSS

100

100

Term subordinated debt Perpetual subordinated debt

15,864

350

(449)

(392)

(911)

14,462

287

287

SUBORDINATED DEBT AT AMORTIZED COST (4)

16,151 16,251

350 350

(449) (449)

(392) (392)

(911) (911)

14,749 14,849

SUBORDINATED DEBT AND SIMILAR

Redemptions of subordinated loans and notes were due to the maturing of such borrowings. (1) Relates on the one hand to the Fidor group, reported under IFRS 5, and on the other to the Coface group, which is now accounted for by the equity method (see Note 5.7). (2) Other changes mainly included the revaluation of debts subject to hedging, foreign exchange fluctuations and variations in intra-group securities held by Natixis Funding for the (3)

purposes of market-making on Natixis’ debt on the secondary market. Excluding accrued interest and revaluation of the hedged component. (4)

Deeply subordinated notes qualifying as equity instruments are presented in Note 5.15.2.

442

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

www.groupebpce.com