2020 Universal registration document and annual financial report - BNP PARIBAS 141

32020 review of oPerations

3

Balance sheet

DEBT SECURITIES This category includes negotiable certificates of deposit and bond issues, but does not include debt securities classified as financial liabilities at fair value through profit or loss (see note 4.h of the consolidated financial statements). Debt securities are decreasing from EUR 157.6 billion at 31 December 2019 to EUR 148.3 billion at 31 December 2020.

ACCRUED EXPENSE AND OTHER LIABILITIES Accrued expense and other liabilities consist of guarantee deposits received, collection accounts, accrued expense and deferred income, lease liabilities, as well as other creditors and miscellaneous liabilities. Accrued expense and other liabilities amounted to EUR 107.8 billion at

31 December 2020, compared with EUR 102.7 billion at 31 December 2019, an increase of 5%. This increase is mainly due to other creditors and miscellaneous liabilities (up by EUR 3.2 billion, or +11%) as well as guarantee deposits received (up by EUR 2.7 billion, or +4.6%). Accrued expenses and deferred income decreased by EUR 1.3 billion (-17%).

TECHNICAL RESERVES AND OTHER INSURANCE LIABILITIES Technical reserves of insurance companies increased by 2% compared to 31 December 2019 and amounted to EUR 240.7 billion at 31 December 2020 (EUR 236.9 billion at 31 December 2019), mainly due to the increase in liabilities related to insurance contracts.

FINANCING AND GUARANTEE COMMITMENTS

FINANCING COMMITMENTS Financing commitments given mainly consist mostly of documentary credit, other credit confirmations and other commitments. They rose by EUR 21 billion compared to 31 December 2019, to EUR 350 billion at 31 December 2020.

Financing commitments given to customers rose by 6% to EUR 343.5 billion at 31 December 2020 and those given to credit institutions increased by EUR 1.6 billion to EUR 6.6 billion at 31 December 2020.

Financing commitments received consist mainly of financing commitments received from credit institutions in the context of refinancing from central banks. Financing commitments received decreased by 26%, to

EUR 54.1 billion at 31 December 2020, compared with EUR 73.4 billion at 31 December 2019.

GUARANTEE COMMITMENTS Guarantee commitments given rose by EUR 7% to EUR 161 billion at 31 December 2020 (compared with EUR 150.7 billion at 31 December 2019); this increase comes from the guarantee commitments given to customers (an increase of +1% to EUR 120 billion at 31 December 2020), while guarantee commitments to credit institutions increase by 27% to EUR 40.9 billion at 31 December 2020 (compared with EUR 32.3 billion at 31 December 2019).

MINORITY INTERESTS

Shareholders equity (before dividend payout) amounts to EUR 112.8 billion as at 31 December 2020, compared with EUR 107.5 billion as at 31 December 2019. This EUR 5.3 billion increase is mainly attributable to the profit of the period which amounted to EUR 7.1 billion and to a change of -EUR 2.6 billion in assets and liabilities recognized directly in equity.

Minority interests were up by EUR 0.2 billion, i.e. EUR 4.6 billion at 31 December 2020 compared with EUR 4.4 billion at 31 December 2019.

SHAREHOLDERS EQUITY