BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

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

Financial data for the main joint arrangements and associates 12.4.1.2 Summarized financial data for material joint ventures and/or companies under notable influence are as follows (based on the last available data published by the entities in question):

Associates

CNP Assurances (group)

EDF Investment Group (EIG)

Socram Banque

Coface (2)

in millions of euros

DIVIDENDS RECEIVED MAIN AGGREGATES Total assets

11

442,540 421,860

1,608 1,376

7,553 5,554

6,969

Total liabilities

41

Income statement Operating income or net banking income

2,307 (689) 1,618

3

128 (45)

202 (50) 152

Income tax Net income

(1)

2

83

CARRYING VALUE OF INVESTMENTS IN ASSOCIATES Equity of associates (1)

20,680 16.11%

232

1,701

6,927 7.54%

Percentage ownership

12.70%

12.70%

3,028 1,458

40 ///

158 158

521

VALUE OF INVESTMENTS IN ASSOCIATES

MARKET VALUE OF INVESTMENTS IN ASSOCIATES 521 The equity used by Groupe BPCE to consolidate CNP Assurances (group) via the equity method is subject to restatement (deeply subordinated notes). (1) Coface has been consolidated under the equity method since January 1, 2020 (see Note 1.3). In addition, Coface's equity value was written down by €57 million. (2) BPCE SA group has no interest in any joint venture that has a material impact on the consolidated financial statements. Summarized financial data for non-material joint ventures and companies under significant influence at December 31, 2020 is as follows:

Fiscal year 2020

Fiscal year 2019

in millions of euros

5

Value of investments in associates

354

779

Total amount of share in: Net income

(12)

(17)

Gains and losses recognized directly in other comprehensive income

(9)

COMPREHENSIVE INCOME

(12)

(26)

Nature and scope of major restrictions 12.4.1.3 BPCE SA group has not encountered any major restrictions relating to interests held in associates and joint ventures.

12.4.2

SHARE IN NET INCOME OF ASSOCIATES

Fiscal year 2020

Fiscal year 2019

in millions of euros

CNP Assurances (group) EDF Investments Group (EIG)

217

227

10

10 ///

Coface (1)(2)

(47)

Socram Banque (3)

(9)

(25)

Other (4)

(16) 155

15

Financial sector companies

227

Other

4 4

4

Non-financial companies

4

SHARE IN NET INCOME OF ASSOCIATES

159

231

Coface has been consolidated under the equity method since January 1, 2020 (see Note 1.3). (1) Net income shown for Coface includes an impairment of -€57 million representing the Group’s equity value. (2) Net income shown for Socram Banque includes the impairment of -€10 million representing the Group’s equity value. (3) Net income from other entities includes an impairment of -€16 million on Adir. (4)

505

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE