BPCE - 2020 Universal Registration Document

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BPCE MANAGEMENT REPORT FINANCIAL REPORT

Company situation and activity in 2020

CHANGES IN THE BPCE BALANCE SHEET

Change 2020/2019

(in billions of euros)

12/31/2020

12/31/2019

in billions of euros

(in %)

Amounts due from banks Amounts due from customers

326.0

219.1

+106.9

+49%

3.7 8.9

3.4 7.9

+0.3 +1.0 (1.6) (0.5)

+9%

Securities transactions*

+13%

Associates, equity interests and long-term investments

23.8

25.4

(6%)

Other assets

3.4

3.9

(13%) +41% +81% (11%)

TOTAL ASSETS

365.8 238.3

259.7 131.3

+106.1 +107.0

Amounts due to banks Customer deposits

6.3

7.1

(0.8) +0.4 +1.1 (1.6)

Debt securities and subordinated debt

99.0

98.6

+%

Other liabilities*

5.9

4.8

+23%

Shareholders’ equity and fund for general banking risks

16.3

17.9

(9%)

TOTAL LIABILITIES +41% The balance sheet as at December 31, 2019 has been restated following the application of ANC Regulation No. 2020-10 5 (decrease in assets and liabilities of €67.2 billion to * present securities borrowings as a deduction from debt on borrowed securities). 365.8 259.7 +106.1

the disposal of securities by universal transfer of assets from • the GCE ASAP entity for -€11 million and a reversal of provisions of €11 million. A merger loss of €11 million was recorded; additional provisions for impairment of €1,893 million (of • which Natixis, CEGC, BPCE Factor and BPCE International) and reversals of impairment losses of €552 million (on Crédit Foncier and Banque Palatine). On the liabilities side, in the context of the Covid-19 crisis, the increase of €107 billion in the “Amounts due to banks” item is explained by the implementation of the funding required to support the financing of economic activity and by the significant increase in deposits from the Group’s institutions The item “Debt securities and subordinated debt” increased by €400 million, in particular following the issue of €4 billion of senior non-preferred debt, offset by the decline in interbank market securities and negotiable debt securitiesof -€3.7 billion. The decrease in shareholders’ equity is mainly related to the result for 2020 for -€1,073 million, and to the interim dividend of €579 million paid in December 2020.

Total assets under French GAAP amounted to €365.8 billion at December 31, 2020, an increase of €106.1 billion compared with December 31, 2019. On the assets side, the increase of €106.9 billion in the “Amounts due from banks” item is mainly due to an increase in the balance of the Central Bank account and an increase in term intra-group receivables. This change follows the funding required for the distribution of EMPs by the Group and the significant increase in ordinary accounts in credit. The “Securities transactions” item was up by €1 billion, mainly due to the investment by BPCE in the OSTRUM Trésorerie + fund for €1,649 million. “Associates, equity interests and long-term investments” recorded the following major changes: the exit of the securities of the entity Holassure following the • simplified merger with BPCE for -€1,768 million, followed by the addition of the shares of CNP Assurances, now held directly, for +€1,606 million; the conversion of 50% of Visa Inc. class C shares into Class A • preferred shares generated a decrease of €91.4 million. Converted securities are classified under “Securities transactions”;

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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