AFD_REGISTRATION_DOCUMENT_2017

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FINANCIAL INFORMATION

ECONOMIC Presentation of the consolidated financial statements

2017

2016

Amount

%

Amount

%

In millions of euros

Loans at AFD Group’s risk

30,187 24,880 14,598 10,282

97% 80% 47% 33% 17%

29,166 24,154 13,187 10,967

97% 80% 44% 36% 16%

Of which Foreign countries

Sovereign

Non-sovereign

Of which French Overseas Collectivities

5,216

4,934

Of which other loan outstandings

91

0% 3% 3% 0%

79

0% 3% 3% 0%

Loans at the State’s risk

936 882

980 889

Loans guaranteed by the State Loans granted by the State

54

91

GROSS CONSOLIDATED OUTSTANDINGS

31,123

b

30,146

b

Outstanding loans at the Group’s risk (€30,187M, of which €24,880M for foreign countries and €5,216M for the French Overseas Departments and Collectivities) resulted in individual impairments and collective provisions totalling €1,506M,

providing a 5% coverage ratio of the outstandings (unchanged from 2016band 2015). Doubtful loans amount to €762M. They are covered by impairments and provisions in the amount of €524M, equal to a coverage ratio of 69%.

SUMMARY OF OUTSTANDINGS AND PROVISIONS FOR DEPRECIATION

Impairments and provisions

Outstandings

In millions of euros Foreign countries

b

b

Sovereign

14,598

761 144 705 339

of which doubtful

144

Non-sovereign

10,282

of which doubtful

492

French Overseas Departments and Collectivities

b

b

Non-sovereign

5,216

41 41

of which doubtful

125

Other outstanding loans

91

b

TOTAL

30,187

1,506

of which doubtful

762

524

The increase in total balance sheet assets is explained by changes in cash (€4,356M), which rose sharply over the year,

in anticipation of end-of-year disbursements and of maturities on bonds.

Short-term cash assets

2017 4,209

2016 2,478

Change

AFD

1,731

Proparco

111

110

0

Fisea

17

2 0 5 7 1

16

Socredo Soderag Sogefom

0 5

0 0 7 0

13

Other subsidiaries GROUP TOTAL

1

4,356

2,603

1,753

Other assets amounted to €4,955M in 2017bversus €5,719M in 2016band represented 12% of total assets. They include the following items: P financial hedging derivatives of €1,680M (€2,390M in 2016); P available-for-sale securities (other equity stakes) for €1,322M (€1,214M in 2016); P fixed assets, accruals and other assets of €848M (€994M in 2016); P the investment portfolio of €778M (€800M in 2016);

P financial assets at fair value through profit or loss of €180M (€147M in 2016); P equity-accounted equity stakes of €146M (€166M in 2016); P €1M in interest rate-hedged portfolio revaluation differences (€8M in 2016).

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REGISTRATION DOCUMENT 2017

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