BPCE_REGISTRATION_DOCUMENT_2017
5 FINANCIAL REPORT
BPCE parent company financial statements
BREAKDOWN OF ACTIVITY 5.12
Holding company activities
Fiscal year 2017
Fiscal year 2016
in millions of euros
Net banking income Operating expenses
384
281
(140)
(205)
Gross operating income
244
76
Cost ofrisk
(1)
4
Operatingincome
243 262 505
80
Gains or losseson long-term investments
134 214
Incomebeforetax
Note 6
Other information
CONSOLIDATION 6.1 In referenceto Article 4111-1 of ANC regulationNo. 2014-07,and in accordance with Article 1 of CRC regulation No. 99-07, BPCE prepares its consolidated financial statements under international accounting standards. Individual company financial statements are incorporated into the consolidatedfinancial statements of Groupe BPCE and BPCE SAgroup.
REMUNERATION, RECEIVABLES, LOANS AND COMMITMENTS Total remuneration paid in 2017 to members of the Management Board amounted to € 3.5 million and € 0.3 million was paid to members of theSupervisory Board. Provisions for retirement indemnities for fiscal year 2017 amounted to € 3.2 million formembersof the Management Board. 6.2
6.3
STATUTORY AUDITORS’ FEES
PricewaterhouseCoopers Audit
MAZARS
Deloitte
Total
Amount (1)
%
Amount (1)
%
Amount (1)
%
Amount (1)
%
2017
2017
2017
2017
2017
2017
2017
2017
2016
2016
2016
2016
2016
2016
2016
2016
in thousands of euros
Financialstatement certificationmissions 654 427 66% 48% 655 430 80% 51% 661 419 41% 33% 1,970 1,276 58% 43%
Servicesother than financial statement certification (2)
341 455 34% 52% 159 413 20% 49% 951 851 59% 67% 1,451 1,719 42% 57% 995 882 100% 100% 814 843 100% 100% 1,612 1,270 100% 100% 3,421 2,995 100% 100%
TOTAL
Change (%)
13%
(3%)
27%
14%
Amountsconcerningthe relevantperiodare thoserecognizedin the incomestatementfor the reportingyear (includingunrecoverableVAT). (1) Servicesother than financialstatementcertificationmainly includeservicesrelatingto requestsfor certification,financialtransactions(mainly issues),consultationsand the programaimedat (2) adaptingthe Group to BCBS239 regulatoryrequirements.
OPERATIONS IN NON-COOPERATIVE COUNTRIES The provisionsof ArticleL. 511-45of the FrenchMonetaryand Financial Code and the Order of October6, 2009, issuedby the FrenchEconomy Minister,requirecreditinstitutions to publish,as partof thenotesto their annualfinancialstatements, informationon their presenceand activities in countriesand territoriesthat have not enteredinto an administrative assistanceagreementwith France for the exchangeof informationin connectionwith thefight against tax fraud and tax evasion. These obligations fit within the wider objectives of the worldwide fight against uncooperativetax havens, which were defined at OECD meetings and summits, and are also designed to combat money laundering and the financing of terrorism. Since its foundation,GroupeBPCE has adopteda prudentapproach.It ensures that entities belongingto its networksare regularlyinformed 6.4
about updates to the OECD list of territoriesthat are consideredas uncooperativeas regardsthe effectiveexchangeof informationfor tax purposesas well as about the potentialconsequencesof maintaining operations in uncooperative territories. In addition, lists of non-cooperative territorieshave been integrated,in part, into software packagesusedin thefightagainstmoneylaunderingwiththeobjectiveof ensuringappropriatedue diligencefor transactionswith non-cooperative countries and territories (implementationof Ministerial Order No. 2009-874of July 16, 2009). At the level of the central institution,an inventory of the Group’s locations and activities in uncooperative territories has beendrawn up for theinformation of executivebodies. This statementis based on the list of countries named in the April 8, 2016 MinisterialOrder, made in applicationof Article 238-0-Aof the French GeneralTax Code. At December 31, 2017, BPCE had no offices or activities in uncooperative tax havens.
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Registration document 2017
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