BPCE - 2018 Registration document

FINANCIAL REPORT IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2018

Mergers and full transfers of assets and liabilities In the fourth quarter of 2018, BPCE Maroc Immobilier was absorbed by BPCE Maroc in a total transfer of assets and liabilities with retroactive effect from January 1, 2018. On April 24, 2018, ECUFONCIER was absorbed by BPCE SA group in a total transfer of assets and liabilities. In the second quarter of 2018, Société Méditerranéenne d’Investissement was absorbed by Banque Populaire de Méditerranée.

FOURTH QUARTER OF 2018 BDR Immo 1, under Caisse d’Epargne Bourgogne Franche-Comté. ● Deconsolidated entities LOSSES OF SIGNIFICANT INFLUENCE The Group lost significant influence over ACLEDA MFI Myanmar Co., ● Ltd, following the disposal of part of its equity interest in Q2 2018; The Group lost significant influence over DocOne, a printing ● subsidiary, and its parent company Nefer following the disposal of some of its shares in Q3 2018.

3.5

GOODWILL

OTHER DECONSOLIDATED ENTITIES IN 2018 Parnasse Nelson and Codéis. ●

Value of goodwill 3.5.1 Goodwill related to operations for the financial year is described in respect of Note 3.4 on “Changes in scope of consolidation”.

Fiscal year 2018

Fiscal year 2017

in millions of euros

Opening net value

4,304

4,397

Acquisitions* Disposals Impairment

190 (27) (16) (28)

194

(85)

Reclassifications and other changes Foreign exchange rate adjustments

66

(202)

CLOSING NET VALUE 4,304 The main acquisitions during the period that led to the recognition of goodwill by Natixis are as follows: Fenchurch Partners +€37 million and Vermilion Partners +€11 million for Corporate * & Investment Banking; Alter CE (Comiteo) +€20 million for Retail Banking and Insurance; MV Crédit +€123 million for Asset & Wealth Management. At December 31, 2018, gross goodwill stood at € 5,026 million and total impairment came to - € 537 million. carrying amount of the goodwill and its tax base. This difference in treatment generated a deferred tax liability of € 336 million at December 31, 2018, compared with € 311 million at December 31, Certain goodwill items recognized in the United States give rise to 4,489

5

2017 (see Note 11.2).

tax amortization over 15 years leading to a difference between the Breakdown of goodwill

Carrying amount

31/12/2018

01/01/2018

in millions of euros Regional Banks (1)

633

633

Banque BCP (France)

42

42

Other

8

8

Retail Banking

683

683

BPCE International (2)

6

27 82 13

Fidor AG

82

Crédit Foncier

Other

3

Other networks

88

125 132

Specialized Financial Services

148

Insurance

39

39

Equity Interests (Coface) Retail Banking and Insurance Asset and Wealth Management Corporate and Investment Banking

281

281

1,239 3,121

1,260 2,967

129

77

TOTAL GOODWILL 4,304 Regional banks: Banque de Savoie, Banque Dupuy, de Parseval, Banque Marze, goodwill carried by Banque Populaire Aquitaine Centre Atlantique (transfer of CCSO – Pelletier’s goodwill to Banque (1) Populaire Aquitaine Centre Atlantique after their merger) and goodwill carried by Banque Populaire Méditerranée (transfer of Banque Chaix’s goodwill after their merger). With the application of IFRS 5, goodwill on Banque Malgache de l’Océan Indien is classified as “Non-current assets held for sale” (see Note 5.7). (2) 4,489

279

Registration document 2018