39 APPROVAL OF THE SOCIAL FINANCIAL STATEMENTS (RESOLUTIONS NO. 2 AND NO. 4) Presentation of the 2022 parent company/individual financial statements of Banque CFM Indosuez Wealth (French GAAP) Resolutions no. 2 and no. 4 The balance sheet total amounted to €7,137 million on 31 December 2022, a decrease of 13% compared with 31 December 2021. On the assets side, loans granted to customers amounted to €3,823 million, an increase of 3% over the 2022 financial year. The volume of securities in the portfolio and central bank deposits ensure the overall liquidity coverage ratio (LCR) is observed. Loans and receivables from credit institutions increased by 2% to €1,805 million. On the liabilities side, shareholders' equity was €367 million, excluding €4.5 million in funds for general banking risks. The increase in shareholders' equity between December 2021 and December 2022 (+17.3 million euros) results exclusively from the increase in net profit for the year. Net banking income, up 29% on the 2021 figure, came to €153.9 million, reflecting the strong sales momentum and the positive impact of interest rates on our margins. Operating expenses were 8% higher than the previous year, reflecting continued investment in IT and digital technology and the unfavourable impact of the euro/dollar exchange rate. The statutory auditors' fees for the 2022 financial year amounted to €145k excluding VAT, broken down as follows (Resolution 4): • €87 K excl. VAT to Mekies • €58 K excl. VAT to Brych CFM Indosuez Wealth’s separate financial statements show a profit of €42.2 million in 2022 (after income tax for an amount of €8.9 million), integrating the dividends of the wealth management subsidiary (€18.3 million). PRESENTATION OF THE 2022 INDIVIDUAL ACCOUNTS OF SUBSIDIARIES Separate/individual financial statements of CFM Indosuez Gestion CFM Indosuez Gestion's net profit is set to reach €19.6 million in 2022, compared with €18.3 million in 2021. Sales were up 5% on the previous year (+€1.3m). The basis of retrocessions between CFM Indosuez Wealth and its subsidiary relates mainly to securities income. It therefore follows the trend observed at CFM Indosuez Wealth and has a positive impact on income retroceded to CFM Indosuez Gestion, both on managed clients and CIL clients. On 17 April 2023, the Board of CFM Indosuez Gestion will propose to the General Meeting of shareholders of the management company scheduled for 05 May 2023 to distribute 100% of its net income for the 2022 financial year. The impact of this dividend payment from the subsidiary to its parent company will be reflected in CFM Indosuez Wealth’s financial statements for 2023. Separate financial statements of CFM Indosuez Conseil en Investissement The net result of CFM Indosuez Conseil en Investissement amounted to €0.3 million in 2022, an increase of €0.2 million on the 2021 result. The level of revenue increased by €0.4 million compared with the 2021 Actual, due to a rise in life insurance revenue. Expenses were slightly higher than the previous year (+€0.2 million), mainly due to an upturn in sales activity and travel to French Polynesia following the health crisis. The sole shareholder of CFM Indosuez Conseil en investissement SASU will propose to allocate the positive result of the year to retained earnings. ALLOCATION OF PROFITS (RESOLUTIONS NO. 3 AND NO. 5) At its meeting on 22 March 2023, the Board of Directors will recommend to the Annual General Meeting of 16 May that the profit for the year be allocated as follows: Profits for the financial year 2022 € 42,183,759 Retained earnings from the previous year € 206,497,014 Proposed dividend amount €40,396,500 Retained earnings following distribution of €208,284,273 In view of the above, the Board of Directors proposes to the General Meeting of Shareholders to be held on 16 May 2023, to distribute a dividend of 96% of the 2022 result, i.e. €70.50 per share. The Board of Directors proposes to the General Meeting that the balance of €1,787,259 be carried forward as retained earnings. The dividend will be paid from 23 May 2023. (Resolution no. 3) Finally, the Board of Directors wishes to conserve the possibility of paying an interim dividend before the end of the financial year on the basis of a balance sheet duly certified by the Company’s Statutory Auditors. (Resolution no. 5)
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