BPCE_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT BPCE management report
€ 395 million in tax rebates for prior periods were also recognized taken into account during the event year. € 287 million have already under tax, covering an adjustment in the tax treatment of certain been returned to Crédit Foncier and SCF and the remaining Crédit Foncier transactionswhere deductibilityhad not been entirely € 108 million wasprovisioned.
Companysituationand activity in 2017
CHANGES IN THE BPCE BALANCE SHEET ➡
Change 2017/2016
31/12/2016
€bn
%
31/12/2017
in billions of euros
Amounts due frombanks Amounts duefromcustomers
226.7
209.9
+16.8
+8%
0.4
0.7
(0.3) +0.9 +1.2 +0.1
(39%) +1% +5% +3% +6% +17% +47%
Securitiestransactions
78.8 23.8
77.9 22.6
Associates, Equity interestsand long-term investments
Other assets
3.8
3.7
TOTALBPCEASSETS Amounts dueto banks Customer resources
333.6 143.4
314.8 122.2
+18.8 +21.2
1.9
2.7
+1.3 (2.8) +1.0 +0.2
Debt securities and subordinated debt
96.8 75.1 16.4
99.6 74.2 16.1
(3%) +1% +1% +6%
Other liabilities
Shareholders’equity and fundfor generalbankingrisks
TOTALBPCELIABILITIES
333.6
314.8
+18.8
5
In accordance with French GAAP, total 2017 assets amounted to € 333.6 billion, an increase of € 18.8 billion compared with December31, 2016. Under assets, the € 16.8 billion increase in “Amountsdue from banks” is mainlydue to higher short-term intra-group receivables. “Associates,Equity interestsand long-terminvestments”recordedthe following majorchanges: the capital increase of BPCE Internationalfor € 100 million and of ● Fidor for € 89 million; the acquisition of Crédit Logement shares from the Caisses ● d’Epargne for € 103 million; the entry of Maison France Confort Prou Investissementshares in ● the wake of the winding up of GCE Foncier Coinvest through the total transfer of assets and liabilities, with a net impact of € 54 million;
the reduction in the capital and the distribution of additional ● paid-in capital of BPCE Immobilier d’Exploitation following the disposal of the Parc Avenue building, resulting in a decrease of € 73 million; the implementation of two new deeply subordinated notes ● ($500 million each)with Natixis; a € 452 million provision reversal on Natixis, additional provisions ● of € 122 million on BPCE International, € 96 million on Crédit Foncier and € 30 million onBanque Palatine; Under liabilities,the € 21.2 billion increasein “Amountsdue to banks” comprises a € 16 billion decrease on demand accounts, mainly on overnight intra-group borrowings, and a € 37.2 billion increase on term loans including € 10.6 billion on intra-group borrowings and € 7.9 billion onrepurchase transactions. The increase in shareholders’ equity was due to 2017 income of € 729 million, reduced by taking into account € 410 million in respect of dividends.
459
Registration document 2017
Made with FlippingBook - professional solution for displaying marketing and sales documents online