1312019 Universal registration document and annual financial report - BNP PARIBAS

32019 review of oPerations

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Balance sheet

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 102.7 billion at 31 December 2019, compared with EUR 89.6 billion at 31 December 2018, an increase of 15%. This increase is mainly due to guarantee deposits received (up EUR 10.4 billion, or +22%) as well as lease liabilities (EUR 3.3 billion) following the application of IFRS 16 norms (note 2 the consolidated financial statements). Accrued expenses and deferred income decreased by EUR 2.1 billion (- 21%).

TECHNICAL RESERVES AND OTHER INSURANCE LIABILITIES Technical reserves of insurance companies increased by 11% compared to 31 December 2018 and amounted to EUR 232.3 billion at 31 December 2019 (EUR 209.8 billion at 31 December 2018), 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 24.4 billion compared to 31 December 2018, to EUR 329 billion at 31 December 2019.

Financing commitments given to customers rose by 8% to EUR 324.1 billion at 31 December 2019 and those given to credit institutions increased by EUR 1.8 billion to EUR 5 billion at 31 December 2019.

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 12%, to EUR 73.4 billion at 31 December 2019, compared with EUR 83.7 billion at 31 December 2018.

GUARANTEE COMMITMENTS Guarantee commitments given rose by EUR 3% to EUR 150.7 billion at 31 December 2019 (compared with EUR 146.6 billion at 31 December 2018); this increase comes from the guarantee commitments given to customers (a 5% increase to EUR 118.4 billion at 31 December 2019), while guarantee commitments to credit institutions decrease by 3% to EUR 32.3 billion at 31 December 2019 (compared with EUR 33.5 billion at 31 December 2018).

MINORITY INTERESTS

Minority interests were up by EUR 0.1 billion, i.e. EUR 4.4 billion at 31 December 2019 compared with EUR 4.3 billion at 31 December 2018.

SHAREHOLDERS EQUITY

Shareholders equity (before dividend payout) amounts to EUR 107.5 billion as at 31 December 2019, compared with EUR 101.5 billion as at 31 December 2018. This EUR 6 billion increase is mainly attributable to the profit of the period which amounted to EUR 8.2 billion and to the

EUR 1.6 billion increase in changes in assets and liabilities recognized directly in equity, partially offset by the EUR 3.8 billion dividend paid in respect of the year ended 31 December 2018.