NATIXIS -2020 Universal Registration Document

FINANCIAL DATA Consolidated financial statements and notes

Note 6

Notes to the income statement

Interest margin 6.1 “Interest and similar income” and “Interest and similar expenses” comprise interest on fixed-income securities recognized as “Financial assets at fair value through other comprehensive income” and “amortized cost”, and interest on loans and receivables to and from banks and customers. Financial assets and liabilities valued at amortized cost give rise to the recognitionof interest calculated using the effective interest rate method. This line item also includes interest on hedging derivatives.

Interest income also consists of interest on non-SPPI debt instruments not held under a trading model (classified by default as instruments at fair value). At December 31, 2020, negative interest on financial assets is presented under “Interest and similar expenses”; negative interest on financial liabilities is presented under “Interest and similar income”. At December 31, 2019, negative interest on financial assets was included in “Interest and similar income” to show a net balance; negative interest on financial liabilities was recorded under “Interest and similar expenses”.

31/12/2020

31/12/2019

Income Expense

Net

(in millions of euros)

Net

Income Expense

2,485

(1,418)

1,067

3,452

(2,683)

769 253

Financial assets and liabilities at amortized cost

Central banks

72

(60) (94)

12 14

346

(93) (92)

Interest on securities

108

87

(5)

Receivables, loans and borrowings

2,305

(783) (596) (187)

1,522 (128) 1,646

3,019

(1,447)

1,571 (516) 2,082

Banks

468

306

(823) (624)

Customers

1,833

2,706

Finance leases

4

4

6

6

5

Debt securities and subordinated debt

(469)

(469)

(1,031)

(1,031)

Lease liabilities

(13)

(13)

(20)

(20)

Financial assets at fair value through other comprehensive income

70 70

(0) (0)

70 70

104 104

104 104

Interest on securities Loans and receivables

0

0

0

0

Financial assets to be valued at fair value through profit or loss

66 42 24

66 42 24

56 39 17

56 39 17

Loans and receivables Interest on securities Hedging derivatives

(110) 1,093

336

(461)

(126)

318

(429)

TOTAL (a)

2,940

(1,847)

3,948

(3,144)

803

At December 31, 2020, the negative interest on financial assets and liabilities amounted to -€146.9 million and €231 million respectively. (a)

301

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020