CFM INDOSUEZ Wealth Management - 2020 Annual Report

154 NOTE 27 Operating expenses (in thousands of euros) 31/12/2020 31/12/2019 Personnel expenses Wages and benefits 37,377 39,324 Incentives 408 1,147 Payroll expenses 12,403 13,204 Total personnel expenses 50,188 53,675 Administrative expenses 31,603 33,621 o/w Statutory Auditors’ fees 157 165 o/w head office expenses 2,936 2,415 o/w transactions with subsidiaries * -1,433 -1,504 Total operating expenses 81,791 87,296 * In 2020, inter-company transactions amounted to €1,433k (compared with €1,504k in 2019) NOTE 28 Cost of risk (in thousands of euros) 31/12/2020 31/12/2019 Reversals of provisions for contingencies and charges 540 27 Reversals of provisions for non-performing receivables 920 2,011 Miscellaneous income 0 0 Total income 1,460 2,038 Provisions for non-performing receivables and other assets -298 -829 Losses on irrecoverable receivables covered by a provision -1,068 -1,022 Allocations to provisions for contingencies and charges -1,547 -1,360 Miscellaneous expenses 0 0 Total expenses -2,913 -3,212 Total -1,453 -1,174 NOTE 29 Gains and losses on fixed assets (in thousands of euros) 31/12/2020 31/12/2019 Gains on the disposal of property, plant and equipment and intangible assets 16 33,505 Losses on the disposal of property, plant and equipment and intangible assets -10 -1,627 Gains on the disposal of long-term investments Allocations to and reversals of provisions for impairment of long-term investments Total 6 31,878