CFM INDOSUEZ Wealth Management - 2019 annual report

BALANCE SHEET ASSETS (in thousands of euros) (in thousands of euros) 01/01/2019 restated Impact of IFRS 16 01/01/2019 reported Amounts due to central banks Financial liabilities at fair value through profit or loss 3,476 3,476 Financial liabilities held for trading 3,476 3,476 Financial liabilities designated at fair value through profit or loss Hedging derivatives 10,053 10,053 Financial liabilities at amortised cost 5,475,570 5,475,570 Amounts due to credit institutions 313,797 313,797 Amounts due to clients 5,161,773 5,161,773 Debt securities Revaluation differences on portfolios hedged against interest rate risk 13,126 13,126 Current and deferred tax liabilities 4,363 4,363 Accrual accounts and miscellaneous liabilities 73,546 2,094 71,452 Liabilities associated with non-current assets held for sale and discontinued operations Technical reserves of insurance companies Provisions 10,063 10,063 Subordinated debt Total liabilities 5,590,197 2,094 5,588,103 Shareholders’ equity 335,135 0 335,135 Shareholders’ equity, Group share 335,135 0 335,135 Share capital and reserves 301,577 301,577 Consolidated reserves 1,425 1,425 Gains and losses recognised directly in other comprehensive income 9,150 9,150 Gains and losses recognised directly in other comprehensive income on discontinued operations Net income (expense) for the period 22,983 22,983 Non-controlling interests Total liabilities 5,925,332 2,094 5,923,238 N o t e 1 2 : Po s t - b a l a n c e s h e e t e v e n t s Post-balance sheet events not liable to impact the finan- cial statements closed on 31 December 2019 The Covid-19 epidemic is expected to have a significant negative impact on the global economy, which will worsen if it is not contained quickly. The epidemic has caused supply and demand shocks, leading to a marked slowdown in activity due to the impact of lockdown measures on consumer spending and caution among economic agents, as well as production difficulties, disruptions to supply chains in some sectors and a drop in investment. This will lead to a sharp decline in growth or technical recession in many countries. The consequences will affect the activities of banks’ counterparties and therefore banks themselves. Crédit Agricole Group, which announced support measures for its business and individual clients during the crisis and which has committed to the measures announced by the government, expects to be impacted in terms of its revenue, cost of risk and net income. CFM Indosuez Wealth could also be impacted. It is impossible to predict the extent or length of the impact at this stage. 135 Annual Financial Statements 2019