BPCE - 2020 Universal Registration Document

5

FINANCIAL REPORT

BPCE PARENT COMPANY ANNUAL FINANCIAL STATEMENTS

3.11.2

TAXABLE INCOME – CHANGE FROM ACCOUNTING TO TAXABLE INCOME

Fiscal year 2020

Fiscal year 2019

in millions of euros

Net accounting income (A)

(1,073)

442

Corporate tax (B)*

(265) 1,864

(162) 1,564

Add-backs (C)

Impairments and provisions

136

69

UCITS

0

6

Long-term capital losses under exemptions Share of profit from partnerships or joint ventures

1,348

1,062

159 221 872

15

Other items

412

Deductions (D)

2,081

Long-term capital gains under exemptions Reversals of impairment and provisions

0

0

122 239

194

Dividends

1,906

Share of profit from partnerships or joint ventures

0 1

0 0

UCITS

Other items

510

(19)

Tax base at normal rate (A)+(B)+(C)-(D)

(346)

(237)

Income tax is funded by the tax consolidation expense or income of BPCE SA group recognized in the parent company financial statements. *

BREAKDOWN OF ACTIVITY

3.12

Fiscal year 2020

Fiscal year 2019

in millions of euros

Financial management

(292)

(40) 210 760

Financial Solutions & Expertise

321 154 250 433

Holding company Central institution

0

Net banking income Operating expenses Gross operating income

930

(432)

(356)

1 0 1

574

Cost of risk

(2)

Operating income Holding company Financial management

572

(1,331)

(341)

(10)

0

Gains or losses on long-term investments

(1,341)

(341)

Income before tax

1,340

231

The various activities are detailed in the management report (Chapter 5.5).

Note 4

Balance sheet information

Unless otherwise indicated, explanatory notes for balance sheet items are presented net of depreciation, amortization, impairment and provisions.

4.1

INTERBANK TRANSACTIONS

Accounting principles Loans and advances to banks cover all loans and advances made in connection with banking transactions with the exception of those represented by a security. They also include securities purchased under resale agreements, regardless of the type of underlying asset, and loans and

advances relating to securities repurchase agreements. They are broken down between demand loans and advances and term loans and advances. Loans to banks are recorded in the sheet at their nominal value, with the exception of buybacksof customer loans which are recordedat acquisition balance

544

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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