BPCE - 2018 Registration document

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

Fiscal year 2018

Fiscal year 2017

in millions of euros

Interest income from loans

46 (6)

46 (6)

Interest expense on bank deposits

PARTNERSHIPS AND ASSOCIATES 12.4 Accounting principles: See Note 3

12.4.1 Investments in associates 12.4.1.1 Partnerships and other associates The Group’s main investments in joint ventures and associates are as follows:

12/31/2018

in millions of euros

01/01/2018

CNP Assurances (group)*

2,471

2,567

Socram Banque

75

76

EDF INVESTISSEMENTS GROUPE Banque Calédonienne d’Investissement

521 153 599

521 145 493

Other

Financial sector companies

3,819

3,802

Other

214 214

310 310

Non-financial companies

TOTAL INVESTMENTS IN ASSOCIATES 4,112 Application of IFRS 9 (with IFRS 4 amendment) postponed to January 1, 2022. IFRS 9 Financial Instruments was published on July 24, 2014 and approved by the European Union on November 22, * 2016. Application of this standard became mandatory on January 1, 2018. However, the Group opted to postpone application of the standard to January 1, 2022. The standard, which replaces IAS 39 Financial Instruments: Recognition and Measurement, sets out the accounting and disclosure principles applicable to financial assets and financial liabilities. The complete version of IFRS 9 includes the three phases that comprised the draft version, namely classification and measurement, impairment, and hedge accounting. Macro-hedge accounting, which is being covered separately by the IASB, has not been finalized. A discussion paper was published on this topic on April 17, 2014. 4,033

5

12.4.1.2 Financial data for the main joint arrangements and associates Summarized financial data for material joint ventures and/or companies under notable influence are as follows (based on the last available data published by the entities in question):

Associates

Banque Calédonienne d’Investissement (BCI)

CNP Assurances (group)

EDF Investment Group (EIG)

Socram Banque

in millions of euros

DIVIDENDS RECEIVED MAIN AGGREGATES Total assets

93

1

11

4

415,524 397,743

1,913 1,689

8,580

2,797 2,490

Total liabilities

33

Income statement Operating income or net banking income

2,463 (793) 1,670

55 (3)

264 (78) 186

93

Income tax Net income

(19)

6

25

CARRYING VALUE OF INVESTMENTS IN ASSOCIATES Equity of associates*

17,782 16.11%

224

8,548

306

Percentage of ownership

33.42%

6.11% 49.90%

VALUE OF INVESTMENTS IN ASSOCIATES

2,471

75

521

153

O/W GOODWILL

2

MARKET VALUE OF INVESTMENTS IN ASSOCIATES

2,049

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The equity used by Groupe BPCE to consolidate CNP Assurances (group) via the equity method is subject to restatement (deeply subordinated notes). *

Groupe BPCE has no interest in any joint venture that has a material impact on the consolidated financial statements.

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Registration document 2018