AFD - 2018 Registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS ACCOUNTING PRINCIPLES ADOPTED BY THE EUROPEAN UNION Notes to the consolidated financial statements

NOTE 16 Overheads Staff costs

31/12/2017

31/12/2018

In thousands of euros

Staff costs Wages and bonuses

172,074 71,074

156,751 64,579 10,490 15,435

Social security expenses

Profit sharing

8,417

Taxes and similar payments on remuneration

17,187

Provisions/reversal of provisions

3,983

1,544

Rebilling banks’ staff

-11,983 260,752

-13,317 235,483

TOTAL

Other administrative expenses

31/12/2017

31/12/2018

In thousands of euros

Other administrative expenses Taxes of which application of IFRIC 21

9,652

2,060

-10

-199

Outside services Rebilled expenses

140,856

130,653

-1,521

-944

TOTAL

148,988

131,769

NOTE 17 Cost of credit risk

31/12/2018

In thousands of euros

Impairments of performing assets (Stage 1) or deteriorating assets (Stage 2)

-29,534 15,519

6

Stage 1: 12-month expected credit losses

Debt securities recognised in equity to be recycled in profit or loss

-

Debt securities recorded at amortised cost

9,472 6,047

Signature commitments

Stage 2: lifetime expected credit losses

-45,053

Debt securities recognised in equity to be recycled in profit or loss

-

Debt securities recorded at amortised cost

-28,588 -16,465 -26,427 -29,609

Signature commitments

Impairments of impaired assets (Stage 3)

Stage 3: impaired assets

Debt securities recognised in equity to be recycled in profit or loss

-

Debt securities recorded at amortised cost

-21,083

Signature commitments Other provisions for risk

-8,527 3,183

Net reversals of impairments and provisions Losses on bad loans and receivables not written off

-55,961 -18,305

Recovery of loans and receivables Discounts on restructured loans

9,374 -2,379

COST OF CREDIT RISK

-67,270

149

REGISTRATION DOCUMENT 2018