BPCE_REGISTRATION_DOCUMENT_2017

4 2017 ACTIVITIES AND FINANCIAL INFORMATION Foreword

Foreword 4.1

The financialdata for the fiscal year ended December 31, 2017 and the comparativedata for 2016 were preparedunder IFRS EuropeanUnion and applicable onDecember31, 2016,therefore excluding some provisionsof IAS 39 on hedge accounting. This management report discusses the results of Groupe BPCE and BPCE established onJuly 31, 2009 following themerger of Groupe Banque Populaire and Groupe Caisse d’Epargne. BPCE SA group’s results are summarizedbecause the operationsand results of the two groups are closely related. The main differencesin scope relative to Groupe BPCE concernthe exclusionof the contributions of the Banque Populaire banks and the Caisses d’Epargne. SA group, built around the central institution, BPCE, which was as adopted by the

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Registration document 2017