2018 Registration document and annual fi nancial report - BNP PARIBAS152
4 CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018
4
Profi t and loss account for the year ended 31 December 2018
4.1 Profi t and loss account for the year ended 31 December 2018
In millions of euros Notes
Year to 31 Dec. 2018
IFRS 9 & IFRS 15
Year to 31 Dec. 2017(1)
IAS 39
Interest income 3.a 35,723 33,566
Interest expense 3.a (14,661) (12,375)
Commission income 3.b 12,925 12,943
Commission expense 3.b (3,718) (3,513)
Net gain on fi nancial instruments at fair value through profi t or loss 3.c 5,808 5,346
Net gains on fi nancial instruments at fair value through equity 3.d 315 1,711
Net gains on derecognised fi nancial assets at amortised cost 3.d (5) 55
Net income from insurance activities 3.e 4,064 3,813
Income from other activities 3.f 12,324 11,697
Expense on other activities 3.f (10,259) (10,082)
REVENUES 42,516 43,161
Salary and employee benefi t expense 7.a (16,617) (16,496)
Other operating expenses 3.g (12,290) (11,729) Depreciation, amortisation and impairment of property, plant and equipment and intangible assets 5.n (1,676) (1,719)
GROSS OPERATING INCOME 11,933 13,217
Cost of risk 3.h (2,764) (2,907)
OPERATING INCOME 9,169 10,310
Share of earnings of equity-method entities 5.m 628 713
Net gain on non-current assets 358 488
Goodwill 5.o 53 (201)
PRE-TAX INCOME 10,208 11,310
Corporate income tax 3.i (2,203) (3,103)
NET INCOME 8,005 8,207
Net income attributable to minority interests 479 448
NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS 7,526 7,759
Basic earnings per share 8.a 5.73 6.05
Diluted earnings per share 8.a 5.73 6.05
(1) Revised presentation based on the reclassifi cations and the re-labelling within Net Banking Income described in note 2a: re-labelling of net gains on available-for sale fi nancial assets and other assets not measured at fair value to net gains on fi nancial assets at fair value through equity and net gains on derecognised fi nancial assets at amortised cost , reclassifi cation of items related to insurance activities within Net income from insurance activities and reclassifi cation of interest on trading instruments within Net gains on fi nancial instruments at fair value through profi t or loss .
The consolidated fi nancial statements of the BNP Paribas Group are presented for the years ended 31 December 2018 and 31 December 2017. In accordance with article 20.1 of Annex I of European Commission Regulation (EC) 809/2004, the consolidated fi nancial statements for the year ended 31 December 2016 are provided in the Registration document fi led with the Autorité des marchés fi nanciers on 6 March 2018 under number D.18-0104.
IFRS 9 and IFRS 15 are applicable retrospectively as from 1 January 2018 and introduce the option not to restate the comparative fi gures for prior periods. Since the Group has retained this option, the comparative fi nancial statements for 2017 have not been restated for these changes in method.
Presentation changes have however been performed on these comparative fi gures in order to present separately the assets and liabilities related to insurance activities and to harmonise item headings with those established by IFRS 9. These changes are described in note 2.a. Moreover, the synthetic balance sheet includes a comparative reference as at 1 January 2018 which takes into account the impacts of the IFRS 9 and IFRS 15 adoption (note 2.b). Comparative fi gures presented in the notes to the fi nancial statements related to balance sheet items (note 5) are based on that reference.
