2019 Universal registration document and annual financial report - BNP PARIBAS182
4 Consolidated finanCial statements for the year ended 31 deCemBer 2019
4
Notes to the financial statements
3.d NET GAIN ON FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH EQUITY
In millions of euros Year to
31 Dec. 2019 Year to
31 Dec. 2018
Net gain on debt instruments(1) 234 213
Dividend income on equity instruments 116 102
NET GAIN ON FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH EQUITY 350 315
(1) Interest income from debt instruments is included in Net interest income (note 3.a), and impairment losses related to potential issuer default are included in Cost of risk (note 3.h).
Unrealised gains and losses on debt securities previously recorded under Changes in assets and liabilities recognised directly in equity that may be reclassified to profit or loss and included in the pre-tax income, amount to a gain of EUR 194 million for the year ended 31 December 2019, compared with EUR 110 million for the year ended 31 December 2018.
3.e NET INCOME FROM INSURANCE ACTIVITIES
In millions of euros Year to 31 Dec. 2019 Year to 31 Dec. 2018
Premiums earned 24,183 27,026
Net gain from investment contracts with discretionary participation feature and other services 32 29
Net income/(expense) from financial investments 14,858 (2,133)
Technical charges related to contracts (32,423) (18,487)
Net charges from ceded reinsurance (118) (267)
Policy benefit expenses (2,095) (2,104)
NET INCOME FROM INSURANCE ACTIVITIES 4,437 4,064
In millions of euros Year to 31 Dec. 2019 Year to 31 Dec. 2018
Net gain on available-for-sale financial assets 3,273 3,501
Interest income and dividends 3,040 3,109
Additions to impairment provisions (160) (33)
Net disposal gains 393 425
Net gain/(loss) on financial instruments at fair value through profit or loss 11,278 (6,002)
Net gain on financial instruments at amortised cost 106 213
Investment property income 200 155
Share of earnings of equity-method investments 5 7
Other expense (4) (7)
NET INCOME/(EXPENSE) FROM FINANCIAL INVESTMENTS 14,858 (2,133)
3.f NET INCOME FROM OTHER ACTIVITIES
In millions of euros
Year to 31 Dec. 2019 Year to 31 Dec. 2018
Income Expense Net Income Expense Net
Net income from investment property 155 (34) 121 165 (69) 96
Net income from assets held under operating leases 10,648 (9,090) 1,558 9,845 (8,406) 1,439
Net income from property development activities 1,069 (867) 202 898 (676) 222
Other net income 1,630 (1,307) 323 1,416 (1,108) 308
TOTAL NET INCOME FROM OTHER ACTIVITIES 13,502 (11,298) 2,204 12,324 (10,259) 2,065
