NATIXIS - Universal registration document and financial report 2019

5 FINANCIAL DATA

Consolidated financial statements and notes

Despite the application of exchange controls in some countries, Natixis did not encounter difficulties transferring the dividends of subsidiaries located in these countries during the period. Assets representative of unit-linked policies from insurance activities measured under the fair value option are held for the benefit of policyholders.

4.3.2

Impact of changes in percentage

holdings in subsidiaries still under control at December 31, 2019 No such material transactions were recorded in 2018 or 2019.

4.3.3

Impact of the loss of control during

the period of a subsidiary in which an interest has been retained No such transactions were recorded in either 2018 or 2019.

4.4

Interests in partnerships

and associates Types of partnerships and associates

4.3.4

Material restrictions

4.4.1

with which Natixis has dealings Partnerships (joint operations and joint ventures) Natixis does not have interests in partnerships (joint operations and joint ventures) that have a material impact on Natixis’ consolidated financial statements. Associates Natixis’ main investment consolidated using the equity method at December 31, 2019 is the EDF Investment Group (EIG) entity.

Natixis is subject to liquidity risk supervision, which requires the creation of a liquidity reserve limiting the use of the assets of which it is composed (see Note 3. 2.7 “Balance sheet management” in Chapter 3 “Risk factors, risk management and Pillar III” of the universal registration document). Some entities are also subject to local regulations concerning liquidity and solvency. The share of encumbered assets that cannot be freely used is presented in Section 3.3 of Chapter 3 “Risk factors, risk management and Pillar III” of the universal registration document.

Table summarizing investments in associates

31/12/2019

31/12/2018

Gains and losses recorded directly in equity

Gains and losses recorded directly in equity

Value of the investments in associates

Value of the investments in associates

Net income

(in millions of euros)

Net income

Joint ventures Associates

743 520 223 743

21 10 11 21

7

735 521 214 735

29 12 17 29

(2) (0) (2) (2)

EDF Investment Group (EIG)

(0)

Other entities

7 7

TOTAL

256

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019