BPCE - 2020 Universal Registration Document

Contents

5

FINANCIAL REPORT

237

IFRS Consolidated Financial Statements 5.1 of Groupe BPCE as at December 31, 2020 Statutory Auditors’ report on the consolidated 5.2 financial statements IFRS Consolidated Financial Statements of 5.3 BPCE SA group as at December 31, 2020 Statutory Auditors’ report on the consolidated 5.4 financial statements BPCE parent company annual financial 5.6 statements Statutory Auditors’ report on the annual 5.7 financial statements Controls of accounting and financial 5.8 reporting quality Persons responsible for auditing the financial 5.9 statements RISK FACTORS & RISK MANAGEMENT 587 Key figures 6.1 589 Risk factors 6.2 593 Risk management system 6.3 605 Capital management and capital adequacy 6.4 620 Credit risks 6.5 632 Counterparty risk 6.6 660 Securitization transactions 6.7 663 Market risks 6.8 668 Liquidity, interest rate and foreign exchange 6.9 risks 674 Legal risks 6.10 684 Non-compliance and security risks 6.11 688 Operational risks 6.12 693 Insurance, asset management, 6.13 financial conglomerate risks 697 Climate risks 6.14 704 Remuneration policy 6.15 709 530 574 578 584 239 381 389 516 523 BPCE management report 5.5

Message from the chairman of the management board

3 4 4

Group profile

Groupe BPCE at a glance

A solid group generating robust performances

6 8

Balanced governance

A group more committed than ever

10

1

PRESENTATION OF GROUPE BPCE

13

1.1

Group history

14 16 18

Understanding the Group’s organization 1.2

Highlights 1.3

TEC 2020: a strategic plan focused on digital 1.4 transformation, commitment and growth

20 24 43 43

6

The Group’s business lines 1.5

Calendar 1.6 Contacts 1.7

2

NON-FINANCIAL PERFORMANCE STATEMENT Putting our cooperative identity to work 2.1 for regional development Applying CSR in the entities, business lines 2.2 and processes Supporting the energy, ecological and social 2.3 transition in local regions Being a responsible group in its internal 2.4 and external practices appointed as an independent third party, on the consolidated statement of non-financial performance included in the Group management report Cross-reference table of the main social, 2.7 environmental and societal information CSR reporting methodology 2.5 Report of one of the Statutory Auditors, 2.6

45

48

58

71

93

126

130

7

LEGAL INFORMATION

711

132

Charter of incorporation and articles 7.1 of association

712 714

Share capital 7.2

3

REPORT ON CORPORATE GOVERNANCE

Ownership structure and distribution 7.3 of voting rights

133

716 717 717

Material contracts 7.4 Material changes 7.5

Introduction 3.1

134 134

Corporate Governance Code 3.2

Statutory Auditors’ special report 7.6 on related-party agreements and commitments

Management and Supervisory Bodies 3.3 136 Role and operating rules of governing bodies 3.4 176 Rules and principles governing the 3.5 determination of pay and benefits 187 Potential conflicts of interest 3.6 208

718

8

ADDITIONAL INFORMATION

733

Statement by the person responsible for the 8.1 universal registration document and for the annual financial report Cross-reference table for the universal 8.3 registration document Cross-reference table for the annual financial 8.4 report and the management report Documents on display 8.2

4

ACTIVITIES AND FINANCIAL INFORMATIONS 2020

211 212 212 217 231 233 233 234

734 735

Foreword 4.1

Significant events of 2020 4.2 Groupe BPCE financial data 4.3 BPCE SA group financial data 4.4

736

739 742

Investments 4.5

Glossary 8.5

Post-balance sheet events 4.6 Outlook for Groupe BPCE 4.7

Items contained in the Annual Financial Report are flagged in the Table of Contents with the following icon AFR The Statement of Non-Financial Performance is identified in the summary using the following icon SNFP

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