BPCE_REGISTRATION_DOCUMENT_2017

2017 ACTIVITIES AND FINANCIAL INFORMATION Groupe BPCE financial data

CHANGES IN SIGNIFICANT ASSET ITEMS The main asset items are loans and receivables due from customers (55.0% of total assets at December 31, 2017) and credit institutions (7.3%), financial assets at fair value through profit or loss (13.5%), and available-for-salefinancial assets (8.3%). Taken together, these items accountfor nearly 84.1% of theGroup’s assets. Financial assets at fair value through profit or loss These financial assets comprise securities held for trading, including derivatives, and certain assets and liabilities that the Group has chosen to recognize at fair value through profit or loss according to the option available under IAS 39. Total financial instruments measured at fair value through profit or loss decreased by € 3.4 billion compared to December 31, 2016, due to: an increasein the variable-income securities portfolio(+ € 9.8 billion); ● a declinein securitiespurchasedunderresaleagreements (- € 5.9 billion) ● and trading derivatives (- € 5.7billion); and, to a lesser extent, the shrinkingof the fixed-incomesecurities ● portfolio (- € 1.0 billion), largely owing to interbank market securities (- € 1.3 billion). Available-for-sale financial assets Available-for-sale financial assets comprise bonds, equities, and treasury bills and equivalentsecuritiesthat do not fall into any other asset category. This portfolio totaled € 104.7 billion at December 31, 2017 versus € 100.2 billion at end-2016. This € 4.5 billion increase was attributable tothe rise in fixed income securities (+ € 3.2 billion). Provisions on available-for-sale financial assets fell slightly ( € 1.2 billion at December 31, 2017 versus € 1.3 billion at December31, 2016). Loans and receivablesdue from banks (net of provisions)amountedto € 92.1 billion at December 31, 2017, down by € 4.6 billion versus December 31, 2016. They consisted of current accounts, loans to credit institutions and repurchase agreements. Non-performingloan outstandingsand recognized impairmentswere relatively stable over the period. Loans and receivables due from customers Loans and receivablesdue from customerscomprisecurrent accounts with overdrafts, customer loans, repurchase agreements and finance leases. Net outstanding loans and receivables due from customers totaled € 693.1 billion, up € 26.2 billion year-on-year(+3.9%),thanks in large part to the resilience of Group business lines and particulary Retail Banking and Insurance. This performance can be attributed to the Caisses d’Epargne network for + € 15.6 billion and the Banque Populairenetwork for + € 11.4 billion. Loans and receivables due from credit institutions

This momentumwas mainly propelled by home loans (+19.8 billion, up 6.5%), but also by equipmentloans (+ € 4.7 billion) and short-term credit facilities(+ € 4.3 billion). The momentumof commercialactivity was barely affectedby the Group’swithdrawalfrom certain activities. Securities classified as loans and receivables posted a decline of € 6.4 billion, mainly recorded by BPCE SA (- € 1.5 billion) owing to disposals and the amortization of the RMBS portfolio, by Crédit Foncier (- € 1.4 billion) due to the downsizing of the international portfolio, and lastlyby Natixis(- € 3.3 billion). Non-performingloans accountedfor 3.3% of gross loan outstandings at December 31, 2017, representing a slight decrease compared to December 31, 2016, while recognized impairment (including collective impairment) amounted to € 11.8 billion. CHANGES IN SIGNIFICANT LIABILITY AND EQUITY ITEMS At December 31, 2017, nearly 85.6% of all balance sheet liabilities consisted of: amountsdue to customers (45.2%) andcredit institutions(7.3%); ● debt securities (17.2%); ● financial liabilitiesat fair valuethroughprofit or loss (10.8%); ● equity attributable toequity holdersof the parent (5.1%). ● Financial liabilities at fair value through profit or loss On the liabilities side, this portfolio consists of debt instruments carried at fair value at the reportingdate, with an offsettingentry on the income statement. At December 31, 2017, these liabilities amounted to € 135.9 billion, up by € 2.5 billion (+1.9%) over the period. This change resulted from the increase in securitiessold short (+3.1 billion), debt securities (+ € 1.7 billion) and other financial liabilities (+ € 1.8 billion). Conversely, this rise was offset by the decrease in trading derivatives (- € 3.0 billion), primarily recorded on forward transactions (- € 8.3 billion). Amounts due to credit institutions The “Amounts due to credit institutions” line consists mainly of borrowings and to a lesser extent current accounts and repurchase agreements. It amounted to € 92.1 billion, up +5.7% ( € 5.0 billion) year-on-year,includinga € 7.0 billion increasein borrowingsthat was partially offset by the decline in demand deposits by credit institutions(- € 2.5 billion). Amounts due to customers Amounts due to customers mainly comprise current accounts in credit, term accounts, savings accounts and repurchase agreements. This line totaled € 569.9 billion at December 31, 2017, up € 38.1 billion compared to December 31, 2016 largelyowing to: a sharp rise in current accounts with credit balances ● (+ € 21.5 billion);

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Registration document 2017