FINANCIAL REPORT 2017

Analysis of net gains (losses) from hedge accounting

31.12.2017

(in thousands of euros)

Gains

Losses

Net

FAIR VALUE HEDGES

35555 -35555

0

Change in fair value of hedged items attributable to hedged risks

-74569 -85495 -160064

Change in fair value of hedging derivatives (including sales of hedges) FAIR VALUE HEDGE OF THE INTEREST RATE EXPOSURE OF A PORTFOLIO OF FINANCIAL INSTRUMENTS

110124 49940 160064

1115

-1115

0

Change in fair value of hedged items

700

-415

285

Change in fair value of hedging derivatives

415

-700

-285

TOTAL GAINS OR LOSSES FROM HEDGE ACCOUNTING

36670 -36670

0

31.12.2016

(in thousands of euros)

Gains

Losses

Net

FAIR VALUE HEDGES

117943 -117944

-1

Change in fair value of hedged items attributable to hedged risks

75288

342

75630

Change in fair value of hedging derivatives (including sales of hedges) FAIR VALUE HEDGE OF THE INTEREST RATE EXPOSURE OF A PORTFOLIO OF FINANCIAL INSTRUMENTS

42655 -118286 -75631

5205

-5205

0

Change in fair value of hedged items

1650 -3555

-1905

Change in fair value of hedging derivatives

3555

-1650

1905

TOTAL GAINS OR LOSSES FROM HEDGE ACCOUNTING

123148 -123149

-1

2.6.4. NET GAINS (LOSSES) ON AVAILABLE-FOR-SALE FINANCIAL ASSETS

31.12.2017

31.12.2016

(in thousands of euros)

1242

4115

Dividends received

20607

17805

Realised gains or losses on available-for-sale financial assets

4910

-1697

Disposal gain or loss on financial assets held to maturity and loans and receivables

NET GAINS OR LOSSES ON AVAILABLE-FOR-SALE FINANCIAL ASSETS

26759

20223

2.6.5. INCOME AND EXPENSE ON OTHER ACTIVITIES

31.12.2017

31.12.2016

(in thousands of euros)

-29745

-19623

Other net income (expense)

INCOME (EXPENSE) RELATED TO OTHER ACTIVITIES

-29745

-19623

2.6.6. GENERAL OPERATING EXPENSES

31.12.2017

31.12.2016

(in thousands of euros)

-344253

-326092

Personnel costs

-16902

-21773

Taxes other than on income or payroll-related

-222862

-221306

External services and other general operating expenses

OPERATING EXPENSES

-584017

-569171

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