NATIXIS -2020 Universal Registration Document

5 FINANCIAL DATA

Consolidated financial statements and notes

Net fee and commission income 6.2 The method of accounting for fees and commissions received in respect of services or financial instrumentsdepends on the ultimate purpose of the services rendered and the method of accounting for the financial instruments to which the service relates. The main accounting principles applying are presented in Note 5.18. Fiduciary or similar fees and commissions are those that result in assets being held or invested on behalf of individual customers,

pension schemes or other institutions. In particular, trust transactions cover Asset Management and custody activities performed on behalf of third parties. For certain funds managed by affiliates of Natixis Investment Managers, the contractual provisions of the prospectus stipulate the payment of a “performance fee” for any fund outperformance.

31/12/2020

31/12/2019

Total

Income Expense

(in millions of euros)

Income Expense

Total

Interbank transactions Customer transactions Securities transactions

8

(27)

(18) 588 (98) 412

7

(29)

(22) 551 (55) 412

568

20

553

(2)

69

(124)

76

(174)

(61)

Payment services Financial Services

477 121

(65)

473 229

(504)

(383) 3,414

(598)

(369) 4,007

Fiduciary transactions (a)

3,414

0

4,007

0

Financing, guarantee, securities and derivative commitments

313 107

(141)

172

235 147

(117)

118

Other (b)

(1,137) (2,028)

(1,030)

(1,265) (2,197)

(1,119)

TOTAL (c)

5,084

3,056

5,719

3,523

Of which performance fees in the amount of €314 million (of which €286 million for Europe) at December 31, 2020, versus €627 million (a) (of which €537 million for Europe) at December 31, 2019. Of which net fee and commission income of -€1,125 million at December 31, 2020, versus -€1,243 million at December 31, 2019, for insurance activities, (b) for which the related income is presented as “Net income from insurance activities”. As of December 31, 2019, Coface contributed -€126.8 million to net commissions (+€59.1 million in income and -€185.9 million in expenses, primarily (c) categorized as “Other”).

302

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020