BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

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

Segment reporting for BPCE SA group has been restated from the first quarter of 2019 and takes account of the transfer of the subsidiaries Banque de Tahiti, Banque de Nouvelle Calédonie, Société Havraise de Calédonie following their transfer from Groupe BPCE International to the Caisse d’Epargne network.

The segment information also takes into account 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 quarterly 2019 and 2020 income statements for the Retail Banking & Insurance and Corporate Center divisions were restated for comparison purposes.

12.1.1 Results by division (1)(2)(3)

SEGMENT ANALYSIS OF THE CONSOLIDATED INCOME STATEMENT

(1) (2) (3)

Corporate & Investment Banking

Retail Banking and Insurance*

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

3,175

2,780

3,225

3,760

2,803

3,337

563

724

9,766 10,600

(2,013)

(1,810)

(2,387)

(2,492)

(2,099)

(2,235)

(1,548)

(1,888) (1,164)

(8,047)

(8,425)

Gross operating income

1,162

969

838

1,268

704

1,102

(985)

1,719

2,175

Cost/income ratio

63.4% 65.1% 74.0% 66.3% 74.9% 67.0% ns

ns

82.4% 79.5%

Cost of risk

(250)

(149)

(27)

(8)

(819)

(312)

(108)

(20) 209 (15) (82)

(1,204)

(489)

Share in income of equity-accounted associates

(17)

11

1

1

10 (0)

10

212

206

231 (10) (82)

Gains or losses on other assets Change in the value of goodwill

(7)

7

(45)

13

(15)

(111)

(163)

Income before tax

889

839

768

1,273 (353) (447)

(105)

786

(993)

(1,073)

558

1,825 (563) (595)

Income tax

(263) (110)

(275)

(226) (209)

33 14

(212) (176)

314 113

277 106

(142) (193)

Non-controlling interests (minority interests) NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT – Excl. Net contribution by Coface Transition from pro forma to reportable net income attributable to equity holders of the parent (2)(3) REPORTABLE NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT Net contribution by Coface

(78)

515

486

332

473

(57)

397

(567) (136)

(690)

223

667

5

44

(136)

44

(1)

16

90

(97)

89

(81)

514

502

332

473

(57)

397

(612)

(741)

176

631

Excluding Banques Populaires, Caisses d’Epargne and their consolidated subsidiaries. *

Results of the Retail Banking and Insurance sub-divisions

Financial Solutions & Expertise

Retail Banking and Insurance

Insurance

Payments

Other networks

2020 2019 pf

2020

2019

2020

2019

2020 2019 pf

2020 2019 pf

in millions of euros

Net banking income Operating expenses

1,084 (604)

1,064 (625)

901

846

431

423

760

448

3,175

2,780

(491)

(478)

(391)

(370)

(527)

(336)

(2,013)

(1,810)

Gross operating income

480

438

410

368

39

52

233

111

1,162

969

Cost/income ratio

55.7% 58.8% 54.5% 56.5% 90.9% 87.6% 69.3% 75.2% 63.4% 65.1%

Cost of risk

(67)

(36)

2

(2)

(185)

(111)

(250)

(149)

Share in income of equity-accounted associates Gains or losses on other assets

(17)

10

0

1 7 8

(17)

11

(1)

0

0

(6) 41

(7)

7

Income before tax

412

402

393

378

42

50

889

839

(1) Segment information is restated for the impact of the net contribrution by Coface on net income attributable to equity holders of the parent of +€136 million in 2020 and -€44 million in 2019. (2) Segment information for 2019 is pro forma for the deconsolidation of the Banque de Tahiti, Banque de Nouvelle Calédonie and Société Havraise de Calédonie subsidiaries with on an impact on net income attributable to equity holders of the parent of -€8 million, of which -€91 million on net banking income and +€40 million on management fees. (3)

499

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE