BRD – Groupe Société Générale S.A.
CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
Prepared in accordance with
International Financial Reporting Standards as adopted by the European Union
LEI CODE: 5493008QRHH0XCLJ4238
December 31, 2024
CONTENT
Independent auditor's report
Consolidated and separate statement of financial position 2
Consolidated and separate statement of profit or loss 3
Consolidated and separate statement of other comprehensive income 4
Consolidated and separate statement of changes in equity 5-6
Consolidated and separate statement of cash flows 7
Notes to the consolidated and separate financial statements 8-146
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
Independent Auditor’s Report
To the Shareholders of BRD – Groupe Société Générale SA
Report on the audit of the consolidated and separate financial statements
Our opinion
In our opinion, the consolidated and separate financial statements give a true and fair view of the
consolidated and separate financial position of BRD – Groupe Société Générale SA (the “Bank”) and
its subsidiaries (together - the “Group”) as at 31 December 2024, and the Group's and Bank's
consolidated and separate financial performance and consolidated and separate cash flows for the
year then ended in accordance with International Financial Reporting Standards as adopted by the
European Union and the National Bank of Romania (NBR) Order no. 27/2010 for approving
accounting Regulations in accordance with International Financial Reporting Standards, republished,
and subsequent amendments (the “NBR Order 27/2010”).
Our opinion is consistent with our additional report to the Audit Committee dated 12
March 2025.
What we have audited
The Group’s and the Bank’s consolidated and separate financial statements comprise:
●
●
●
31 December 2024;
●
31 December 2024;
●
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policy information and other explanatory information.
The consolidated and separate financial statements as at 31 December 2024 are identified as follows:
Total consolidated equity: RON 9,451,462 thousand;
Consolidated net profit for the year: RON 1,523,776 thousand;
Total separate equity: RON 9,023,941 thousand;
Separate net profit for the year: RON 1,474,824 thousand.
The Bank’s registered office is in Romania, Bucharest, District 1, 1-7 Ion Mihalache Blvd, and the
Bank’s unique fiscal registration code is RO361579.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs), Regulation EU
No 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC
(the “Regulation 537/2014”) and Law 162/2017 regarding statutory audit of annual financial statements
and annual consolidated financial statements and regarding changes to other regulations and
subsequent amendments (the “Law 162/2017”). Our responsibilities under those standards are further
described in the Auditor’s responsibilities for the audit of the consolidated and separate financial
statements section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Independence
We are independent of the Group and the Bank in accordance with the International Code of Ethics for
Professional Accountants (including International Independence Standards) issued by the
International Ethics Standards Board for Accountants (IESBA Code) and the ethical requirements of
the Regulation 537/2014 and the Law 162/2017 that are relevant to our audit of consolidated and
separate financial statements in Romania. We have fulfilled our other ethical responsibilities in
accordance with the IESBA Code and the ethical requirements of the Regulation 537/2014 and the
Law 162/2017.
To the best of our knowledge and belief, we declare that non-audit services that we have provided to
the Group and the Bank are in accordance with the applicable law and regulations in Romania and
that we have not provided non-audit services that are prohibited under Article 5(1) of the Regulation
537/2014.
The non-audit services that we have provided to the Group and the Bank in the period from
1 January 2024 to the date of issuing this report are disclosed in Note 37 to the consolidated and
separate financial statements.
Our audit approach
Overview
Overall materiality for the consolidated the Group: RON 93,168 thousand, consolidated profit before income |
Overall materiality for the separate Bank: RON 90,120 thousand, which profit before income tax. |
We planned and scoped our audit for reflecting the Group’s current structure represents a very significant part of liabilities, revenue and profit before income defined the Bank as the sole significant Group and so it was subject to a information. |
Application of IFRS 9 in the calculation losses for loans and advances to |
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
As part of designing our audit, we determined materiality and assessed the risks of material
misstatement in the consolidated and separate financial statements. In particular, we considered
where management made subjective judgements; for example, in respect of significant accounting
estimates that involved making assumptions and considering future events that are inherently
uncertain. As in all of our audits, we also addressed the risk of management override of internal
controls, including among other matters, consideration of whether there was evidence of bias that
represented a risk of material misstatement due to fraud.
Materiality
The scope of our audit was influenced by our application of materiality. An audit is designed to obtain
reasonable assurance whether the consolidated and separate financial statements are free from
material misstatement. Misstatements may arise due to fraud or error. They are considered material if
individually or in aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of the consolidated and separate financial statements.
Based on our professional judgement, we determined certain quantitative thresholds for materiality,
including the overall Group and Bank materiality for the consolidated and separate financial
statements as a whole as set out in the table below. These, together with qualitative considerations,
helped us to determine the scope of our audit and the nature, timing and extent of our audit
procedures and to evaluate the effect of misstatements, both individually and in aggregate on the
consolidated and separate financial statements as a whole.
Overall Group and Bank materiality | Group: RON 93,168 thousand. |
Bank: RON 90,120 thousand. |
How we determined it | Group: 5% of consolidated profit before |
Bank: 5% of separate profit before income |
Rationale for the materiality benchmark applied | We chose profit before income tax as view, it is the benchmark against which the performance and Bank is most commonly measured generally accepted benchmark. quantitative materiality thresholds used sector. |
Key audit matter
Key audit matters are those matters that, in our professional judgment, were of most significance in
our audit of the consolidated and separate financial statements of the current period. These matters
were addressed in the context of our audit of the consolidated and separate financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
Key audit matter | How our audit addressed the key audit matter |
Application of IFRS 9 in the calculation credit losses for loans and advances | |
IFRS 9, “Financial Instruments”, recognition of expected credit losses exposures from the moment a loan taking into account changes in credit initial recognition and macroeconomic conditions. For the purposes of classification categories ("staging"), the management complex analyses, in order to identify exposures that either show evidence significant increase in credit risk (“SICR”) credit impaired. Measuring expected credit losses is a activity, with a high degree of uncertainty and subjectivity, with respect to which the management applies internal credit risk models account many quantitative and qualitative If the credit risk has not increased from origination (Stage 1), IFRS 9 allowances based on 12-month losses. If the credit risk has increased since initial recognition default (Stage 3), IFRS 9 requires based on lifetime expected credit losses. For individually significant (Stage 3), the expected credit losses calculated based on losses determined weighted scenarios. These are determined assessment of the economic situation development of the respective customer, the valuation of collateral, and the estimate amount and timing of the recoveries these. Expected credit losses for Stage 1, individually non-significant determined collectively on the basis risk characteristics. The ECL parameters based on statistical historical data as assumptions about future developments. | In testing expected credit losses advances, we performed the following significant audit procedures: We assessed the methodologies used determine expected credit losses and compliance with IFRS 9 requirements. We gained an understanding of the Bank’s processes and IT environments in relation the disbursement, monitoring, classification measurement of loans and advances customers. We assessed the design and implementation key controls and their operating effectiveness, especially in relation to loan allocation of repayments from customers, collateral management and calculation of impairment losses. specialists tested the effectiveness of automated controls of the IT systems for the ECL calculation. We analysed the classification criteria allocating loans and advances the IFRS 9 categories (staging) and the application of SICR criteria and definition used for stage allocation of loans. By performing analytical audit procedures, examined the significant exposure the loans categories and in the related coverage rates compared to the previous years’ figures and we discussed the with the relevant internal departments. We tested individually significant selected based on a sample determined according to risk criteria. For defaulted corporate loans, we assessed estimates of the amount and timing recoveries, considering collaterals, |
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
Key audit matter
How our audit addressed the
key audit
matter
Significant estimates and assumptions used in the
calculation of the expected credit loss include
probabilities of default, the expected development
of the outstanding amount at the time of default
and loss rates. The estimates consider current and
forward-looking information.
The complexity of the management’ estimation
process is affected by the geopolitical
uncertainties, which have worsened current
economic conditions and the outlook for future
macroeconomic scenarios and could have a
significant impact on specific industry sectors. As
such, if the assumptions and models do not cover
all relevant risk factors, the management uses
overlays, calculated both as in-model and post-
model adjustments.
The calculation of expected credit losses, including
those from the in-model and post-model
adjustments are based on assumptions and
estimates that give rise to significant uncertainties
with regard to the amount of the expected credit
losses.
Based on the analysis above, and also taking into
account that “Loans and advances to customers”
are the most significant financial statement line
item in the total assets, we have determined the
expected credit losses for loans and advances as
a key audit matter.
Note 3 “Material accounting policies”, Note 10.1
“Loans and advances to customers” and Note 45.1
“Credit risk” to the consolidated and separate
financial statements provide detailed information
on the ECL for loans and advances to customers.
examined whether the assumptions used in the
calculation were appropriate and derivable from
internal or external evidence.
For non-defaulted loans, we examined whether
indicators of SICR or default exist.
We obtained the management approvals for
the in-model and post model adjustments
(overlays) and we traced this information to
relevant market information. We have also
independently reperformed the calculation of
overlays on a sample basis.
We verified that the key assumptions
(probability of default (PD), loss given default
(LGD) and exposure at default (EAD)) resulting
from the statistical estimation models and
approved by the management were the same
as the ones effectively implemented in the
system and used for the ECL automated
calculation.
We engaged our credit risk modelling experts
to assist us to assess the reasonableness of
the assumptions in connection with forward-
looking information (FLI) based on the
macroeconomic variables forecasts, as well as
to assess the relevance of the FLI model
methodologies. Furthermore, we examined the
appropriateness of the assumptions PD, LGD
and EAD and reperformed selected ECL
calculation steps.
We also verified the disclosures in the notes to
the consolidated and separate financial
statements regarding the calculation of
expected credit losses and the significant
assumptions and estimation uncertainties for
the year ended 31 December 2024.
How we tailored our Group audit scope
We tailored the scope of our audit in order to perform sufficient work to enable us to provide an opinion
on the consolidated and separate financial statements as a whole, taking into account the structure of
the Group and the Bank, the accounting processes and controls, and the industry in which the Group
and the Bank operate.
We planned and scoped our audit for the year 2024 reflecting the Group’s current structure whereby the
Bank represents the vast majority of the Group’s assets, liabilities, operating income and profit before
income tax. Hence, we defined the Bank as the sole significant component within the Group and so the
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
Bank was subject to an audit of its complete financial information. We also applied analytical and other
audit procedures to the financial information of one subsidiary of the Group
BRD Sogelease IFN S.A.
)
.
Reporting on other information including the Annual Board of Directors’ Report
Administrators are responsible for the other information. The other information comprises the Annual
Board of Directors’ Report and the Consolidated Sustainability Statement, which is part of the Annual
Board of Directors’ Report, and the Remuneration Report, but does not include the consolidated and
separate financial statements nor our auditor’s report thereon.
Our opinion on the consolidated and separate financial statements does not cover the other
information, including the Annual Board of Directors’
Report, the Consolidated Sustainability
Statement and the Remuneration Report.
In connection with our audit of the consolidated and separate financial statements, our responsibility is
to read the other information identified above and, in doing so, consider whether the other information
is materially inconsistent with the consolidated and separate financial statements, or our knowledge
obtained in the audit, or otherwise appears to be materially misstated.
With respect to the Annual Board of Directors’ Report, we considered whether it is consistent with the
consolidated and separate financial statements and whether the Annual Board of Directors’ Report,
excluding the requirements for the information on the sustainability reporting on which the separate
limited assurance report on Consolidated Sustainability Statement has been issued by us on 14
March 2025, was prepared in accordance with NBR Order 27/2010 articles 32, 33 and 34.
Based on the work undertaken in the course of our audit, in our opinion:
●
the consolidated and separate financial statements are prepared, is consistent with the
consolidated and separate financial statements;
●
the Annual Board of Directors’ Report, excluding the requirements for the information on
sustainability reporting, has been prepared in accordance with NBR Order 27/2010
articles 32, 33 and 34.
In addition, in light of the knowledge and understanding of the Group and the Bank and their
environment obtained in the course of the audit, we are required to report if we have identified material
misstatements in the Annual Board of Directors’ Report and the Remuneration Report. We have
nothing to report in this regard.
In accordance with Law no. 24/2017 regarding issuers of financial instruments and market operations,
republished, and subsequent amendments (“Law 24/2017”) our responsibility is to assess whether the
Remuneration report contains the information required by Law 24/2017, article 107, alignments (1)
and (2).
With respect to the Remuneration Report, we read the Remuneration Report in order to assess
whether it contains the information required by Law 24/2017, article 107 alignments (1) and (2). We
have nothing to report in this regard.
Responsibilities of management and those charged with governance for the
consolidated and separate financial statements
Management is responsible for the preparation of the consolidated and separate financial statements
that give a true and fair view in accordance with International Financial Reporting Standards as
adopted by the European Union and NBR Order 27/2010, and for such internal control as
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
management determines is necessary to enable the preparation of consolidated and separate
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated and separate financial statements, management is responsible for
assessing the Group’s and the Bank’s ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless management
either intends to liquidate the Group and the Bank or to cease operations, or has no realistic
alternative but to do so.
Those charged with governance are responsible for overseeing the Group’s and the Bank’s financial
reporting process.
Auditor’s responsibilities for the audit of the consolidated and separate financial
statements
Our objectives are to obtain reasonable assurance about whether the consolidated and separate
financial statements as a whole are free from material misstatement, whether due to fraud or error,
and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of
assurance but is not a guarantee that an audit conducted in accordance with ISAs will always detect a
material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these consolidated and separate financial
statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
●
Identify and assess the risks of material misstatement of the consolidated and separate financial
statements, whether due to fraud or error, design and perform audit procedures responsive to
those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
●
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Group’s or the Bank’s internal control.
●
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
●
Conclude on the appropriateness of management’s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Group’s and the Bank’s ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw attention
in our auditor’s report to the related disclosures in the consolidated and separate financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor’s report. However, future events
or conditions may cause the Group and the Bank to cease to continue as a going concern.
●
Evaluate the overall presentation, structure and content of the consolidated and separate financial
statements, including the disclosures, and whether the consolidated and separate financial
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
statements represent the underlying transactions and events in a manner that achieves fair
presentation.
●
financial information of the entities or business units within the Group as a basis for forming an
opinion on the consolidated financial statements. We are responsible for the direction, supervision
and review of the audit work performed for the purpose of the
G
roup audit. We remain solely
responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, actions
taken to eliminate threats or safeguards applied.
From the matters communicated with those charged with governance, we determine those matters
that were of most significance in the audit of the consolidated and separate financial statements of the
current period and are therefore the key audit matters. We describe these matters in our auditor’s
report unless law or regulation precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated in our report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.
Report on other legal and regulatory requirements
Reporting on report regarding information related to income tax
In accordance with NBR Order 27/2010, article 57^16, in connection with the audit of the consolidated
and separate financial statements for the financial year ended as at 31 December 2024, our
responsibility is to state if, for the previous financial year ended as at 31 December 2023, the Bank
had the obligation, in accordance with articles 57^4 – 57^10 of NBR Order 27/2010, to publish a report
regarding information related to income tax for the financial year ended 31 December 2023 and if this
is the case, whether such report was published in accordance with article 57^14 of NBR Order
27/2010.
The Bank did not have the obligation to publish the report regarding information related to income tax.
Report on the compliance of the format of consolidated financial statements with the
requirements of the European Single Electronic Format (“ESEF”)
We have been engaged as part of our audit engagement letter by the management of the Bank to
conduct a reasonable assurance engagement for the verification of compliance with the applicable
requirements of the presentation of the consolidated financial statements of
BRD – Groupe Société Générale SA’s Group for the year ended 31 December 2024 in the digital file
5493008QRHH0XCLJ4238-2024-12-31-en (the “Presentation of the Consolidated Financial
Statements”).
Description of a subject matter and applicable criteria
The Presentation of the Consolidated Financial Statements has been applied by the management of
the Bank to comply with the requirements of Law 24/2017, Financial Supervision Authority Regulation
7/2021 and the requirements of art. 3 and 4 of the Commission Delegated Regulation (EU) 2019/815
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
of 17 December 2018 supplementing Directive 2004/109/EC of the European Parliament and of the
Council with regard to regulatory technical standards on the specification of a single electronic
reporting format and subsequent amendments (the “ESEF Regulation”). The applicable requirements
regarding the Presentation of the Consolidated Financial Statements are contained in the ESEF
Regulation.
The requirements described in the preceding sentence determine the basis for application of the
Presentation of the Consolidated Financial Statements and, in our view, constitute appropriate criteria
to form a reasonable assurance conclusion.
Responsibility of the management and those charged with governance
Management of the Bank is responsible for Presentation of the Consolidated Financial Statements
that complies with the requirements of the ESEF Regulation.
This responsibility includes the selection and application of appropriate markups in iXBRL using ESEF
taxonomy and designing, implementing and maintaining internal controls relevant for the preparation
of the Presentation of the Consolidated Financial Statements which is free from material non-
compliance with the requirements of the ESEF Regulation.
Those charged with governance
which should also be understood as the preparation of Consolidated Financial Statements in
accordance with the format resulting from the ESEF Regulation.
Our responsibility
Our responsibility was to express a reasonable assurance conclusion whether the Presentation of the
Consolidated Financial Statements complies, in all material respects, with the ESEF Regulation. We
conducted our engagement in accordance with
International Standard on Assurance Engagements
3000 (R) - Assurance Engagements other than Audits and Reviews of Historical Financial Information
(ISAE 3000(R)). This standard requires that we comply with ethical requirements, plan and perform
procedures to obtain reasonable assurance whether the Presentation of the Consolidated Financial
Statements complies, in all material aspects, in accordance with the applicable requirements.
Reasonable assurance is a high level of assurance, but it does not guarantee that the service
performed in accordance with ISAE 3000 (R)
will always detect the existing material misstatement
(significant non-compliance with the requirements).
Quality control requirements and professional ethics
We apply International Standard on Quality Management 1, which requires the firm to design,
implement and operate a system of quality management including policies or procedures regarding
compliance with ethical requirements, professional standards and applicable legal and regulatory
requirements.
We comply with the independence and other ethical requirements of the International Code of Ethics
for Professional Accountants (including International Independence Standards) issued by the
International Ethics Standards Board for Accountants, which is founded on fundamental principles of
integrity, objectivity, professional competence and due care, confidentiality and professional
behaviour.
Summary of the work performed
Our planned and performed procedures were aimed at obtaining reasonable assurance that the
Presentation of the Consolidated Financial Statements complies, in all material aspects, with the
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over
this translation.
applicable requirements and such application is free from material errors or omissions. Our
procedures included in particular:
●
of the Electronic Reporting Format of the Consolidated Financial Statements, including the
preparation of the XHTML format and marking up the consolidated financial statements;
●
●
markup language according to the requirements of the implementation of electronic format as
described in the ESEF Regulation;
●
PricewaterhouseCoopers Audit S.R.L.
Ana Tower, 24/3 floor, 1A Poligrafiei Blvd, District 1, 013704 Bucharest, Romania
EUID ROONRC.J40/17223/1993, fiscal registration code RO4282940, share capital RON 7,630
T: +40 21 225 3000, www.pwc.ro
This version of our report is a translation from the original, which was prepared in Romanian language. All possible care has been taken to ensure that the translation
is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over this
translation.
taxonomy and the creation of extension markups where no suitable element in the ESEF taxonomy
has been identified; and
●
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our
conclusion.
Conclusion
In our opinion, based on the procedures performed, the Presentation of the Consolidated Financial
Statements complies, in all material respects, with the ESEF Regulation.
Appointment
We were appointed by Ordinary General Shareholders Meeting as auditors of BRD – Groupe Société
Générale SA on 25 April 2024. This is the first year of our appointment as auditors.
The financial auditor responsible for carrying out the audit resulting in this independent auditor’s report is
Ana-Maria Butucaru.
On behalf of
PricewaterhouseCoopers Audit SRL
Audit firm
registered with the Public Electronic Register of financial auditors and audit firms under no. FA6
Refer to the original signed Romanian version |
Ana-Maria Butucaru
Financial Auditor
registered with the Public Electronic Register of financial auditors and audit firms under no. AF3378
Bucharest, 14 March 2025
BRD – Groupe Société Générale S.A.
CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION
as at December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
2
Group | Bank | ||||||
Restated | Restated | Restated | Restated | ||||
Note | December 31, 2024 | December 31, 2023 | January 1, 2023 | December 31, 2024 | December 31, 2023 | January 1, 2023 | |
ASSETS | |||||||
Cash and cash equivalents | 5 | 8,657,954 | 12,461,819 | 9,160,917 | |||
Due from banks | 6 | 6,313,423 | 5,120,355 | 5,301,049 | |||
Derivatives and other financial instruments held for trading | 7 | 1,810,504 | 2,110,661 | 2,337,311 | |||
63,414 | 67,877 | 29,142 | |||||
Financial assets at fair value through profit and loss | 8 | 9,208 | 11,376 | 8,132 | |||
Financial assets at fair value through other comprehensive income | 9 | 12,164,852 | 13,429,670 | 13,439,596 | |||
367,850 | 47,959 | 279,730 | |||||
Financial assets at amortised cost | 10 | 54,459,688 | 45,865,368 | 38,746,704 | |||
10.2 | 47,351,908 | 39,635,435 | 35,022,395 | ||||
10.2 | 7,107,780 | 6,229,933 | 3,724,309 | ||||
201,025 | 405,212 | - | |||||
Finance lease receivables | 11 | - | - | - | |||
Assets held for sale | 12 | 8,913 | 7,106 | 10,912 | |||
Investments in subsidiaries | 13 | 55,772 | 68,898 | 68,898 | |||
Investments in associates and joint ventures | 14 | 30,327 | 34,974 | 61,066 | |||
Property, plant and equipment | 15 | 1,100,231 | 1,051,237 | 1,046,443 | |||
Investment property | 15 | 10,096 | 14,536 | 15,503 | |||
Intangible assets | 16 | 608,020 | 504,221 | 405,667 | |||
Current tax asset | 28 | 24,251 | - | 23,563 | |||
Deferred tax asset | 28 | 306,005 | 303,152 | 478,893 | |||
Goodwill | 17 | 50,130 | 50,130 | 50,130 | |||
Other financial assets | 18 | 239,499 | 293,256 | 308,470 | |||
Other non-financial assets | 19 | 96,320 | 54,591 | 59,723 | |||
Total assets | 85,945,193 | 81,381,350 | 71,522,977 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||
Due to banks | 20 | 1,477,293 | 1,146,540 | 636,888 | |||
Derivatives and other financial instruments held for trading | 7 | 524,010 | 1,272,450 | 1,443,546 | |||
Due to customers | 21 | 68,215,487 | 62,641,838 | 56,915,740 | |||
Borrowed funds | 22 | 4,234,105 | 4,834,225 | 3,567,262 | |||
Subordinated debts | 23 | 1,245,458 | 1,245,400 | 1,238,651 | |||
Current tax liability | 28 | - | 35,074 | - | |||
Provisions | 24 | 327,200 | 333,810 | 380,172 | |||
Other financial liabilities | 25 | 584,957 | 1,105,095 | 528,794 | |||
Other non-financial liabilities | 26 | 312,742 | 301,895 | 234,888 | |||
Total liabilities | 76,921,252 | 72,916,327 | 64,945,941 | ||||
Share capital | 27 | 2,515,622 | 2,515,622 | 2,515,622 | |||
Accumulated other comprehensive income/(loss) | ( | ( | ( | (1,256,130) | (1,157,341) | (2,054,109) | |
Retained earnings | 7,214,810 | 6,557,103 | 5,565,884 | ||||
Other reserves | 549,639 | 549,639 | 549,639 | ||||
Net assets attributable to owners of the parent | 9,023,941 | 8,465,023 | 6,577,036 | ||||
Non-controlling interest | - | - | - | ||||
Total equity | 9,023,941 | 8,465,023 | 6,577,036 | ||||
Total liabilities and equity | 85,945,193 | 81,381,350 | 71,522,977 | ||||
The financial statements have been authorized for issue by the Group’s management on March 12, 2025
and are signed on the Group’s behalf by:
Delphine Mireille GARCIN-MEUNIER Chairman of the Board of Directors | Maria ROUSSEVA Chief Executive Officer | |
Vladimir POJER Deputy Chief Executive Officer | Simona PRODAN Finance Executive Director |
BRD – Groupe Société Générale S.A.
CONSOLIDATED AND SEPARATE STATEMENT OF PROFIT OR LOSS
for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
3
Group | Bank | ||||
Restated | Restated | ||||
Note | 2024 | 2023 | 2024 | 2023 | |
Interest and similar income | 29 | 4,589,501 | 4,024,293 | ||
4,589,143 | 4,022,905 | ||||
Interest and similar expense | 30 | ( | ( | (1,790,891) | (1,432,436) |
Net interest income | 2,798,610 | 2,591,857 | |||
Fees and commission income | 31 | 1,287,502 | 1,142,224 | ||
Fees and commission expense | 31 | ( | ( | (515,623) | (423,361) |
Fees and commissions, net | 771,879 | 718,863 | |||
Gain from derivatives and | 32 | 243,834 | 40,362 | ||
Gain from foreign exchange | 98,937 | 297,412 | |||
Gain/(Loss) from financial instruments | ( | (144) | 4,873 | ||
Net income from associates and | 1,677 | 38,452 | |||
Dividend income from subsidiaries | - | - | 17,831 | 38,234 | |
Other income/(expense) | 33 | ( | ( | (37,963) | (7,544) |
Net banking income | 3,894,661 | 3,722,509 | |||
Personnel expenses | ( | ( | (965,345) | (914,991) | |
Depreciation, amortisation and | ( | ( | (251,760) | (243,868) | |
Contribution to Guarantee | ( | ( | (43,517) | (68,094) | |
Other operating expenses | ( | ( | (703,887) | (587,845) | |
Total operating | ( | ( | (1,964,509) | (1,814,798) | |
Gross operating profit | 1,930,152 | 1,907,711 | |||
Net impairment gain/(loss) on financial | 38 | ( | (127,752) | 47,924 | |
Profit before income tax | 1,802,400 | 1,955,635 | |||
Current tax expense | 28 | ( | ( | (312,079) | (316,546) |
Deferred tax expense | ( | ( | (15,497) | (4,909) | |
Total income | ( | ( | (327,576) | (321,455) | |
Net profit for the period | 1,474,824 | 1,634,180 | |||
Profit attributable to equity owners | - | - | |||
Profit/(loss) attributable to non-controlling | ( | - | - | ||
Basic/Diluted earnings per share | 39 | 2.1163 | 2.3449 | ||
BRD – Groupe Société Générale S.A.
CONSOLIDATED AND SEPARATE STATEMENT OF COMPREHENSIVE INCOME
for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
4
Group | Bank | ||||
Note | December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Net profit for the period | 1,474,824 | 1,634,180 | |||
Other comprehensive income | |||||
Net comprehensive income that may in subsequent periods | ( | (101,188) | 902,290 | ||
Net gain/(loss) on financial assets comprehensive income | ( | (101,188) | 902,290 | ||
Reclassifications to profit and loss during | ( | ( | (2,447) | (99) | |
Fair value differences | ( | (117,549) | 1,074,273 | ||
Income tax | ( | 18,808 | (171,884) | ||
Net comprehensive income not to subsequent periods | ( | 2,399 | (5,522) | ||
Gain / (Loss) on defined benefit | 26 | ( | 2,856 | (6,574) | |
Deferred tax relating to defined | 26 | ( | (457) | 1,052 | |
Other comprehensive income for | ( | (98,789) | 896,768 | ||
Total comprehensive | 1,376,035 | 2,530,948 | |||
Attributable to: | |||||
Equity owners of the parent | - | - | |||
Non-controlling interest | ( | - | - | ||
BRD – Groupe Société Générale S.A.
CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY
for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
Group
Non- controlling interest | Total equity | |||||||
Accumulated other comprehensive income/(loss) | Total attributable to owners of the parent | |||||||
Share capital | Reserves from financial assets at fair value through other comprehensive income | Reserves from defined benefit pension plan | Retained earnings | Other reserves | ||||
December 31, 2022 | ( | |||||||
Total comprehensive | ( | |||||||
( | ||||||||
Dividends distributed | ( | ( | ( | ( | ||||
December 31, 2023 | ( | |||||||
Non- controlling interest | |||||||||
Accumulated other comprehensive income/(loss) | Total attributable to owners of the parent | ||||||||
Share capital | Reserves from financial assets at fair value through other comprehensive income | Reserves from defined benefit pension plan | Retained earnings | Other reserves | Total equity | ||||
December 31, 2023 | ( | ||||||||
Total comprehensive | ( | ( | ( | ||||||
( | ( | ||||||||
( | ( | ( | |||||||
Capital reduction | ( | ( | |||||||
Shared-based payment | ( | ( | ( | ||||||
Dividends distributed | ( | ( | ( | ( | |||||
December 31, 2024 | ( | ||||||||
BRD – Groupe Société Générale S.A.
CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY
for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
Bank
Share capital | Accumulated other comprehensive income/(loss) | Total equity | ||||
Reserves from financial assets at fair value through other comprehensive income | Reserves from defined benefit pension plan | Retained earnings | Other reserves | |||
December 31, 2022 | 2,515,622 | (2,084,244) | 30,135 | 5,565,884 | 549,639 | 6,577,036 |
Total comprehensive | - | 902,290 | (5,522) | 1,634,180 | - | 2,530,948 |
- | - | - | 1,634,180 | - | 1,634,180 | |
- | 902,290 | (5,522) | - | - | 896,768 | |
Dividends distributed | - | - | - | (642,961) | - | (642,961) |
December 31, 2023 | 2,515,622 | (1,181,954) | 24,613 | 6,557,103 | 549,639 | 8,465,023 |
Accumulated other comprehensive income/(loss) | ||||||
Share capital | Reserves from financial assets at fair value through other comprehensive income | Reserves from defined benefit pension plan | Retained earnings | Other reserves | Total equity | |
December 31, 2023 | 2,515,622 | (1,181,954) | 24,613 | 6,557,103 | 549,639 | 8,465,023 |
Total comprehensive | - | (101,188) | 2,399 | 1,474,824 | - | 1,376,035 |
- | - | - | 1,474,824 | - | 1,474,824 | |
- | (101,188) | 2,399 | - | - | (98,789) | |
Dividends distributed | - | - | - | (817,117) | - | (817,117) |
December 31, 2024 | 2,515,622 | (1,283,143) | 27,012 | 7,214,810 | 549,639 | 9,023,941 |
BRD – Groupe Société Générale S.A.
CONSOLIDATED AND SEPARATE STATEMENT OF CASH FLOWS
for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
Group | Bank | ||||
Restated | Restated | ||||
Note | 2024 | 2023 | 2024 | 2023 | |
Cash flows from operating activities | |||||
Profit before tax | 1,802,400 | 1,955,635 | |||
Adjustments for: | |||||
Depreciation and amortization expense | 36 | 251,760 | 243,868 | ||
Other non-monetary adjustments | ( | ( | (17,450) | (6,574) | |
(Gain) /Loss from impact of equity method for investment ventures | 14 | ( | ( | - | - |
(Gain) from revaluation of assets at fair value through | 8 | ( | 2,229 | (3,244) | |
Net (gain)/loss sale from associates | - | (21,412) | |||
Loss from investment in subsidiaries | - | - | 13,125 | - | |
Allocation to and release of | 268,446 | 124,174 | |||
Interest income | 29 | ( | ( | (4,589,501) | (4,024,293) |
Interest expense | 30 | 1,790,891 | 1,432,436 | ||
Dividend income from subsidiaries and associates | ( | ( | (19,508) | (55,273) | |
Adjusted profit | ( | ( | (497,608) | (354,683) | |
Changes in operating assets and liabilities | |||||
Deposits with banks | ( | (1,197,773) | 193,295 | ||
Debt securities | ( | ( | (804,983) | (2,445,679) | |
Sales of financial assets at fair value through profit and | 8 | 286 | - | ||
Acquisition of financial assets at fair value through | 8 | ( | (347) | - | |
Loans and advances to customers | ( | ( | (7,949,513) | (4,684,073) | |
Lease receivables | ( | ( | - | - | |
Other assets including trading | 273,778 | 381,969 | |||
Assets held for sale | ( | 2,841 | 3,806 | ||
Due to banks | 330,643 | 509,314 | |||
Due to customers | 5,562,915 | 5,580,342 | |||
Other liabilities | ( | ( | (806,823) | (156,823) | |
Total changes in operating | ( | ( | (4,588,976) | (617,849) | |
Income tax paid | ( | ( | (371,404) | (257,908) | |
Interest paid | ( | ( | (1,456,857) | (1,039,511) | |
Interest received | 4,101,535 | 3,459,384 | |||
Cash flow from operating activities | ( | (2,813,310) | 1,189,433 | ||
Investing activities | |||||
Sales of investments in associates | - | 47,503 | |||
Acquisition of tangible assets | 15 | ( | ( | (36,086) | (152,210) |
Proceeds from sale of tangible assets | 42,386 | 12,536 | |||
Acquisition of intangible assets | 16 | ( | ( | (191,331) | (172,636) |
1,949,310 | 2,319,641 | ||||
( | ( | (866,134) | (1,490,872) | ||
Interest received | 513,162 | 535,506 | |||
Dividends received | 19,508 | 55,273 | |||
Cash flow from investing activities | 1,430,815 | 1,154,741 | |||
Financing activities | |||||
Proceeds from borrowings | 22,23 | 748,002 | 3,510,403 | ||
Repayment of borrowings | 22,23 | ( | ( | (1,346,726) | (2,239,249) |
Repayment of principal lease liabilities | 15 | ( | ( | (75,336) | (76,692) |
Interest paid | ( | ( | (324,458) | (244,308) | |
Dividends paid | ( | ( | (1,440,302) | - | |
Net cash from financing activities | ( | (2,438,820) | 950,154 | ||
Net movements in cash and cash equivalents | ( | (3,821,315) | 3,294,328 | ||
The impact of exchange rate variation on cash and cash equivalents | 17,450 | 6,574 | |||
Cash and cash equivalents at beginning of the period | 5 | 12,461,819 | 9,160,917 | ||
Cash and cash equivalents at the end of the period | 5 | 8,657,954 | 12,461,819 | ||
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. Cash and cash equivalents were aligned with the presentation in the Statement of
financial position. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
1. Corporate information
.
The Bank commenced business as a state-owned credit institution in 1990 by acquiring assets and liabilities
of the former Banca de Investitii. The Bank headquarters and registered office is
BRD together with its subsidiaries (the “Group’) offers a wide range of
, as allowed by law. The Group accepts deposits from the public and grants loans
and leases, carries out funds transfer in
financial services for its commercial and retail customers.
Bank’s immediate and ultimate controlling party is
“Parent” or “SG”).
The Bank has as of December 31, 2024 388 units throughout the country (December 31, 2023: 423).
The average number of active employees of the Group during 2024 was 5,912 (2023: 6,066) and the number
of active employees of the Group as of the year-end was 5,840 (December 31, 2023: 6,070).
The average number of active employees of the Bank during 2024 was 5,715 (2023: 5,817) and the number
of active employees of the Bank as of the year-end was 5,670 (December 31, 2023: 5,854).
The active employees are the full-time employees (excluding maternity leave and long-term sick leave).
BRD–Groupe Société Générale has been quoted on Bucharest Stock Exchange (“BVB”) with the symbol
“BRD” since January 15, 2001. The free float shares represent 39.83% from the total shares.
The shareholding structure of the Bank is as follows:
December 31, 2024 | December 31, 2023 | |
Societe Generale | 60.17% | 60.17% |
Fondul de pensii administrat privat | 5.56% | 5.56% |
Fondul de pensii administrat privat | 4.27% | 4.15% |
Fondul de pensii administrat privat | 4.04% | 3.56% |
Infinity Capital Investments SA | 3.95% | 3.95% |
Legal entities | 17.12% | 16.76% |
Individuals | 4.88% | 5.85% |
Total | 100.00% | 100.00% |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
9
2. Basis of preparation
a)
Basis of preparation
In accordance with European Regulation 1606/2002 of July 19, 2002 on the application of International
Accounting Standards, and Order of the National Bank of Romania no. 27/2010 with subsequent
amendments, BRD prepared the consolidated and separate financial statements (referred to as “financial
statements”) - for the year ended December 31, 2024 in accordance with the International Financial
Reporting Standards as adopted by the European Union (“IFRS”).
The consolidated financial statements include the consolidated statement of financial position, the
consolidated statement of profit or loss, the consolidated statement of comprehensive income, the
consolidated statement of changes in shareholders’ equity, the consolidated cash flow statement and notes
to the consolidated financial statements.
The separate financial statements include the separate statement of financial position, the separate statement
of profit or loss, the separate statement of comprehensive income, the separate statement of changes in
shareholders’ equity, the separate cash flow statement and notes to the separate financial statements.
The consolidated and separate financial statements are presented in Romanian lei (“RON”), which is the
Group’s and its subsidiaries’ functional and presentation currency, rounded to the nearest thousands, except
when otherwise indicated. The consolidated and separate financial statements have been prepared on a
historical cost basis, except for financial assets at fair value through profit and loss, financial assets through
other comprehensive income, derivative financial instruments, other financial assets and liabilities held for
trading, which have all been measured at fair value.
The Group and Bank’s management has assessed the Group and Bank’s ability to continue as a going
concern and is satisfied that the Bank has the resources to continue business for the foreseeable future.
Furthermore, management is not aware of any material uncertainties that may cast significant doubt upon
the Bank’s ability to continue as a going concern. Therefore, the consolidated and separate financial
statements are prepared on the going concern basis.
The Bank reviewed the categories of financial instruments that have been included in the Statement of
financial position on line “Cash and due from Central Bank” and decided to correct the errors in presentation
by renaming it “Cash and cash equivalents” and including in this line also bonds and deposits with less than
90 days maturity from the date of acquisition presented previously in “Due from banks” and cash in transit
registered previously in “Other assets”, meeting the definition of cash equivalents.
The Bank also reclassified debt securities at amortized cost with banks previously reported in “Due from
banks” and debt securities at amortized cost with customers previously reported in “Loans and advances to
customers” into “Debt securities” category.
For a more relevant presentation, the Bank also divided some of the previous categories into new more
detailed one such as: “Investments in subsidiaries, associates and joint venture” into “Investments in
subsidiaries” and “Investments in associates and joint ventures”, “Other assets” into “Other financial assets”
and “Other non-financial assets”, “Other liabilities” into “Other financial liabilities” and “Other non-
financial liabilities”, “Retained earnings and capital reserves” into “Retained earnings” and “Other
reserves”, “Gain on derivative, other financial instruments held for trading and foreign exchange” into
“Gain from derivatives and other financial instruments held for trading” and “Gain from foreign exchange”
and “Other income/(expense) from banking activities” into “Other income/(expense)” and “Dividend
income from subsidiaries”.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
10
2. Basis of preparation (continued)
a)
Basis of preparation (continued)
Consequently, the Bank has changed the comparative period (December 31, 2023) amounts in the Statement
of financial position and in the Profit or loss and presented also the restated Statement of financial position
as of January 1, 2023:
The Bank also corrected the error in the presentation of “Cash and cash equivalents” in the Statement of
cash flows and included in “Cash and cash equivalents” also the amounts representing minimum
compulsory reserve held at National Bank of Romania. The minimum compulsory reserve can be used by
the Bank for its daily activities as long as the average monthly balance is maintained within the required
limits, therefore it meets the definition of cash and cash equivalents.
Cash and cash equivalents lines in the Statement of cash flows for the comparative period (December 31,
2023) were aligned with the presentation in the Statement of financial position.
Furthermore, the Bank also decided to change the presentation in the Statement of cash flows of financial
assets at fair value through OCI and, instead of presenting them in operating cash flows, decided to present
purchases and sales of these assets in investing cash flows.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
11
2. Basis of preparation (continued)
a)
Basis of preparation (continued)
The Bank disclosed separately the acquisitions and proceeds from sale for tangible assets and separately
for intangible assets.
The Bank also corrected the error in presentation of cash flow by including the information related to
interest and dividends paid and received and adjusted all impacted positions in the statement.
The Bank believes that such presentation gives reliable and more relevant information about the cash flows.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
12
2. Basis of preparation (continued)
a)
Basis of preparation (continued)
b) Basis for consolidation
The consolidated financial statements comprise the financial statements of BRD–Groupe Société Générale
and its subsidiaries as of December 31, 2024. The financial statements of the subsidiaries are prepared for
the same reporting period, using consistent accounting policies.
A
subsidiary is an entity over which the Bank exercises control. An investor controls an investee when it is
exposed or has rights to variable returns from its involvement with the investee and has the ability to affect
those returns through its power over the investee. The consolidated financial statements include the
financial statements of BRD–Groupe Société Générale and the following subsidiaries: BRD Sogelease IFN
S.A. (99.98% ownership, 2023: 99.98%), BRD Finance S.A. (49% ownership, 2023: 49%) and BRD Asset
Management SAI S.A. (99.98% ownership, 2023: 99.98%).
According to IFRS 12 9(b), the Group controls BRD Finance S.A. even though it holds less than half of the
voting rights, through the power to govern the financial and operating policies of the entity under various
agreements. All intercompany transactions, balances and unrealized gains and losses on transactions
between consolidated entities are eliminated on consolidation.
Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Bank obtains
control, and continue to be consolidated until the date such control ceases.
Equity and net income attributable to non-controlling interest are shown separately in the statement of
financial position, statement of profit or loss, statement of changes in equity and statement of
comprehensive income, respectively.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
13
2. Basis of preparation (continued)
b) Basis for consolidation (continued)
The Bank is accounting for the investments in subsidiaries, associates and joint ventures in the separate
financial statements at cost less impairment adjustment.
As at December 31, 2024:
Group | |||
Associates | Field of activity | Address | % |
BRD Asigurari de Viata SA | Insurance | 58-60 Gheorghe Polizu Street, Bucharest Corporate Center building, floor 8 (zone 3) and floor 9, district 1, Bucharest | 49.00% |
Biroul de Credit S.A. | Financial institution | 29 Sfanta Vineri Street, floor 4, district | 16.38% |
BRD Sogelease Asset Rental SRL | Operational leasing | 1-7, Ion Mihalache Street, Bucharest | 20.00% |
Joint ventures | |||
CIT One SA | Cash protection and guard | 319L Splaiul Independentei Street, Paris Building/A1, 1st floor, 6, Bucharest, | 33.33% |
Bank | |||
Associates | Field of activity | Address | % |
BRD Asigurari de Viata SA | Insurance | 58-60 Gheorghe Polizu Street, Bucharest Corporate Center floor 8 (zone 3) and floor 9, district 1, Bucharest | 49.00% |
Biroul de Credit S.A. | Financial institution | 29 Sfanta Vineri Street, floor 4, district | 16.38% |
Joint ventures | |||
CIT One SA | Cash protection and guard | 319L Splaiul Independentei Street, Paris Building/A1, 1st floor, district 6, Bucharest | 33.33% |
Subsidiaries | |||
BRD Sogelease IFN SA | Financial lease | 1-7, Ion Mihalache Street, floor 12, district 1, Bucharest | 99.98% |
BRD Finance SA | Financial institution - non-going concern entity | 1-7, Ion Mihalache Street, floor 15, district 1, Bucharest | 49.00% |
BRD Asset Management SAI SA | Fund administration | 2 Doctor Staicovici Street, district 5, floor 5, Bucharest | 99.98% |
As at December 31, 2023:
2. Basis of preparation (continued)
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
14
b)
Basis for consolidation (continued)
For BRD Asset Management SAI SA the Group consolidates the administrator of the funds not also the
funds administrated by the entity.
BRD Finance S.A.
In accordance with IAS 1 “Presentation of financial statements”, paragraph 25, when preparing financial
statements, management should perform an assessment of an entity’s ability to continue as a going concern.
As of 31 December 2024, the management of the Company assessed that the going concern assumption is
not appropriate, considering all available information about the future development of the Company’s
activity.
As of December 31, 2023 BRD Finance SA was in a run off process and entered into a process for selling
its entire loan portfolio. During 2024 BRD Finance SA sold its entire loan portfolio, previously reclassified
into held for sale, to a third party. Therefore, as at December 31, 2024 and December 31, 2023 the BRD
Finance SA financial statements were prepared in compliance with IFRS, but no longer on a going concern
basis. The entity has been included in the consolidated financial statements of the Group on this basis and
as at December 31, 2024 and December 31, 2023 it was consolidated applying full consolidation method.
Starting August 22, 2024 the entity was no longer registered as a non-banking financial institution in the
National Registry and as such no longer supervised by NBR
BRD Societate de Administrare a Fondurilor de Pensii Private SA
In May 2024 there were signed the Business Transfer Agreement and the Sale Purchase Agreement for the
sale of investment in associate BRD Societate de Administrare a Fondurilor de Pensii Private SA together
with Pillar 2 and 3 to a third party. BRD–Groupe Société Générale decided to reclassify the investment
from Investments in associates into Assets held for sale.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
15
2. Basis of preparation (continued)
c) Changes in accounting policies and adoption of revised/amended IFRS
The accounting policies adopted are consistent with those of the previous financial year except for the
following amended IFRSs which have been adopted by the Group/Bank as of 1 January 2024. The impact
of the application of these new and revised IFRSs has been reflected in the financial statements and was
estimated as not being material, except disclosures already presented in the Notes.
●
IFRS 16 Leases: Lease Liability in a Sale and Leaseback (Amendments)
The amendments relate to the sale and leaseback transactions that satisfy the requirements in IFRS 15
to be accounted for as a sale. The amendments require the seller-lessee to subsequently measure
liabilities arising from the transaction and in a way that it does not recognise any gain or loss related to
the right of use that it retained. This means deferral of such a gain even if the obligation is to make
variable payments that do not depend on an index or a rate.
No material impact for Group and the Bank was identified from the application of these amendments.
●
IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-
current (Amendments)
These amendments clarify that liabilities are classified as either current or non-current, depending on
the rights that exist at the end of the reporting period. Liabilities are non-current if the entity has a
substantive right, at the end of the reporting period, to defer settlement for at least twelve months. The
guidance no longer requires such a right to be unconditional. The October 2022 amendment established
that loan covenants to be complied with after the reporting date do not affect the classification of debt
as current or non-current at the reporting date. Management’s expectations whether they will
subsequently exercise the right to defer settlement do not affect classification of liabilities. A liability
is classified as current if a condition is breached at or before the reporting date even if a waiver of that
condition is obtained from the lender after the end of the reporting period. Conversely, a loan is
classified as non-current if a loan covenant is breached only after the reporting date. In addition, the
amendments include clarifying the classification requirements for debt a company might settle by
converting it into equity. ‘Settlement’ is defined as the extinguishment of a liability with cash, other
resources embodying economic benefits or an entity’s own equity instruments. There is an exception
for convertible instruments that might be converted into equity, but only for those instruments where
the conversion option is classified as an equity instrument as a separate component of a compound
financial instrument.
No material impact for Group and the Bank was identified from the application of these amendments.
●
IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments Disclosure - Supplier
Finance Arrangements (Amendments)
In response to concerns of the users of financial statements about inadequate or misleading disclosure
of financing arrangements, in May 2023, the IASB issued amendments to IAS 7 and IFRS 7 to require
disclosure about entity’s supplier finance arrangements (SFAs). These amendments require the
disclosures of the entity’s supplier finance arrangements that would enable the users of financial
statements to assess the effects of those arrangements on the entity’s liabilities and cash flows and on
the entity’s exposure to liquidity risk. The purpose of the additional disclosure requirements is to
enhance the transparency of the supplier finance arrangements. The amendments do not affect
recognition or measurement principles but only disclosure requirements.
No material impact for Group and the Bank was identified from the application of these amendments.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
16
2. Basis of preparation (continued)
d) Standards and interpretations that are issued but have not yet come into effect
Standards and interpretations effective from 1 January 2025 or later:
• Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of
Exchangeability (Amendments)
In August 2023, the IASB issued amendments to IAS 21 to help entities assess exchangeability
between two currencies and determine the spot exchange rate, when exchangeability is lacking. An
entity is impacted by the amendments when it has a transaction or an operation in a foreign currency
that is not exchangeable into another currency at a measurement date for a specified purpose. The
amendments to IAS 21 do not provide detailed requirements on how to estimate the spot exchange
rate. Instead, they set out a framework under which an entity can determine the spot exchange rate
at the measurement date. When applying the new requirements, it is not permitted to restate
comparative information. It is required to translate the affected amounts at estimated spot exchange
rates at the date of initial application, with an adjustment to retained earnings or to the reserve for
cumulative translation differences.
• Amendments to IFRS 9 and IFRS 7: Amendments to the Classification and Measurement of
Financial Instruments
On 30 May 2024, the IASB issued amendments to IFRS 9 and IFRS 7 to:
(a) clarify the date of recognition and derecognition of some financial assets and liabilities, with a
new exception for some financial liabilities settled through an electronic cash transfer system;(b)
clarify and add further guidance for assessing whether a financial asset meets the solely payments
of principal and interest (SPPI) criterion;(c) add new disclosures for certain instruments with
contractual terms that can change cash flows (such as some instruments with features linked to the
achievement of environment, social and governance (ESG) targets); and (d) update the disclosures
for equity instruments designated at fair value through other comprehensive income (FVOCI).
• Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity
The IASB has issued amendments to help companies better report the financial effects of nature-
dependent electricity contracts, which are often structured as power purchase agreements (PPAs).
Current accounting requirements may not adequately capture how these contracts affect a
company’s performance. To allow companies to better reflect these contracts in the financial
statements, the IASB has made targeted amendments to IFRS 9, Financial Instruments, and IFRS
7, Financial Instruments: Disclosures. The amendments include: (a) clarifying the application of
the ‘own-use’ requirements; (b) relaxing certain hedge accounting requirements if these contracts
are used as hedging instruments; and (c) adding new disclosure requirements to enable investors to
understand the effect of these contracts on financial performance and cash flows.
• Annual Improvements to IFRS Accounting Standards
IFRS 1 was clarified that a hedge should be discontinued upon transition to IFRS Accounting
Standards if it does not meet the ‘qualifying criteria’, rather than ‘conditions’ for hedge accounting,
in order to resolve a potential confusion arising from an inconsistency between the wording in IFRS
1 and the requirements for hedge accounting in IFRS 9. IFRS 7 requires disclosures about a gain
or loss on derecognition relating to financial assets in which the entity has a continuing
involvement, including whether fair value measurements included ‘significant unobservable
inputs’. This new phrase replaced reference to ‘significant inputs that were not based on observable
market data’.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
17
2. Basis of preparation (continued)
d) Standards and interpretations that are issued but have not yet come into effect (continued)
The amendment makes the wording consistent with IFRS 13. In addition, certain IFRS 7
implementation guidance examples were clarified and text added that the examples do not
necessarily illustrate all the requirements in the referenced paragraphs of IFRS 7. IFRS 16 was
amended to clarify that when a lessee has determined that a lease liability has been extinguished in
accordance with IFRS 9, the lessee is required to apply IFRS 9 guidance to recognise any resulting
gain or loss in profit or loss. This clarification applies to lease liabilities that are extinguished on or
after the beginning of the annual reporting period in which the entity first applies that amendment.
In order to resolve an inconsistency between IFRS 9 and IFRS 15, trade receivables are now
required to be initially recognised at ‘the amount determined by applying IFRS 15’ instead of at
‘their transaction price (as defined in IFRS 15)’. IFRS 10 was amended to use less conclusive
language when an entity is a ‘de-facto agent’ and to clarify that the relationship described in
paragraph B74 of IFRS 10 is just one example of a circumstance in which judgement is required to
determine whether a party is acting as a de-facto agent. IAS 7 was corrected to delete references to
‘cost method’ that was removed from IFRS Accounting Standards in May 2008 when the IASB
issued amendment ‘Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate’.
• IFRS 18 Presentation and Disclosure in Financial Statements
In April 2024, the IASB has issued IFRS 18, the new standard on presentation and disclosure in
financial statements, with a focus on updates to the statement of profit or loss. The key new
concepts introduced in IFRS 18 relate to:
• the structure of the statement of profit or loss;
• required disclosures in the financial statements for certain profit or loss performance
measures that are reported outside an entity’s financial statements (that is, management-
defined performance measures); and
• enhanced principles on aggregation and disaggregation which apply to the primary
financial statements and notes in general.
IFRS 18 will replace IAS 1; many of the other existing principles in IAS 1 are retained, with limited
changes. IFRS 18 will not impact the recognition or measurement of items in the financial
statements, but it might change what an entity reports as its ‘operating profit or loss’. IFRS 18 will
apply for reporting periods beginning on or after 1 January 2027 and also applies to comparative
information.
• IFRS 19 Subsidiaries without Public Accountability
The International Accounting Standard Board (IASB) has issued a new IFRS Accounting Standard
for subsidiaries. IFRS 19 permits eligible subsidiaries to use IFRS Accounting Standards with
reduced disclosures. Applying IFRS 19 will reduce the costs of preparing subsidiaries’ financial
statements while maintaining the usefulness of the information for users of their financial
statements. Subsidiaries using IFRS Accounting Standards for their own financial statements
provide disclosures that maybe disproportionate to the information needs of their users. IFRS 19
will resolve these challenges by:
• enabling subsidiaries to keep only one set of accounting records – to meet the needs of both
their parent company and the users of their financial statements;
• reducing disclosure requirements – IFRS 19 permits reduced disclosure better suited to the
needs of the users of their financial statements.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
18
2. Basis of preparation (continued)
d) Standards and interpretations that are issued but have not yet come into effect (continued)
Amendments published but rejected or deferred by the EU:
• IFRS 14 Regulatory Deferral Accounts
IFRS 14 permits first-time adopters to continue to recognise amounts related to rate regulation in
accordance with their previous GAAP requirements when they adopt IFRS. However, to enhance
comparability with entities that already apply IFRS and do not recognise such amounts, the standard
requires that the effect of rate regulation must be presented separately from other items. An entity
that already presents IFRS financial statements is not eligible to apply the standard.
• Sale or Contribution of Assets between an Investor and its Associate or Joint Venture –
Amendments to IFRS 10 and IAS 28
These amendments address an inconsistency between the requirements in IFRS 10 and those in
IAS 28 in dealing with the sale or contribution of assets between an investor and its associate or
joint venture. The main consequence of the amendments is that a full gain or loss is recognised
when a transaction involves a business. A partial gain or loss is recognised when a transaction
involves assets that do not constitute a business, even if these assets are held by a subsidiary.
For the standards and interpretations effective from 1 January 2025 or later the Bank will assess and
disclose the impact starting with the next financial exercise.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
19
2. Basis of preparation (continued)
e) Significant accounting judgments and estimates
In the process of applying the Group and Bank’s accounting policies, management is required to use its
judgments and make estimates in determining the amounts recognized in the consolidated and separate
financial statements. The most significant use of judgments and estimates are as follows:
Fair value of financial instruments
Where the fair values of financial assets and financial liabilities recorded on the statement of financial
position cannot be derived from active markets, they are determined using a variety of valuation techniques
that include the use of mathematical models. The inputs to these models are derived from observable market
data where possible, but where observable market data are not available, judgment is required to establish
fair values. The judgments include considerations of liquidity and model inputs such as volatility for longer
dated derivatives and discount rates, prepayment rates and default rate assumptions for asset backed
securities. The valuation of financial instruments is described in more details in Note 43.
Expected credit losses on financial assets at amortised cost and FVOCI
Measurement of ECLs is a significant estimate that involves determination of methodology, models and
data inputs consistent with those at December 31, 2023. The following components have a major impact
on expected credit losses: definition of default, SICR, probability of default (“PD”), exposure at default
(“EAD”), and loss given default (“LGD”), as well as models of macro-economic scenarios (“FLI”).
The main considerations for the loan impairment assessment include whether any payments of principal or
interest are overdue by more than 90 days, whether a severe alteration in the counterparty’s financial
standing is observed, entailing a high probability that the debtor will not be able to fully meet its credit
obligations, whether concessions in the form of restructuring were consented under the circumstances of
financial hardship experienced by the debtor, whether legal procedures were initiated or the debtor was
transferred to specialized recovery structures (regardless of the number of days past due).
Please refer to note 10 for more details.
The Bank’s expected credit loss model (ECL) relies on several underlying assumptions regarding the choice
of variable inputs and their interdependencies, which affect the level of allowances:
-
The internal credit grating model, which assigns probabilities of default (PDs) to the individual
grades
-
The criteria defined (both in relative and absolute terms) for the assessment of significant increase
in credit risk since initial recognition and consequently the computation of allowances based on
life time expected credit loss (LTECL)
-
The grouping of financial assets when their ECL is measured on a collective basis
-
The development of ECL model, including the various formulas and the choice of inputs
-
The macroeconomic scenarios and their probability weightings based on which ECL is derived
-
The inputs and models used for calculating ECL may not always capture all characteristics of the
market at the date of the financial statements. To reflect this, the Bank assesses the need/opportunity
for additional amounts of provisions in the form of overlays, in order to address:
o
sector of activity specific risks (adjustment of ECL on sectors that have a different default
behavior from the whole calibration segment);
o
visible macroeconomic threat impossible to be captured by the models (typically, when the
predicted stress did not occur in the observed past serving as a base for models).
-
For individually significant loans and advances, the Group and Bank identify and quantify the
expected future cash flows to be used for a total or partial reimbursement of the obligations, based
on the capacity of the client/business to generate revenues, proceeds resulting from sale of
collaterals and other clearly identified sources of repayment. The individual assessment threshold
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
20
2. Basis of preparation (continued)
e) Significant accounting judgments and estimates (continued)
is defined in between 500 - 1,500 thousands EUR, depending on the client type and customers’ management
departments.
Provisions for other risks and charges
The Bank operates in a regulatory and legal environment that, by nature has a heightened element of
litigation risk inherent to its operations and, as a result it is involved in various litigations or is subject to
various obligations arising from legislation in force.
When the Bank can reliably measure the outflow of economic benefits in relation to a specific case and
considers such outflows to be probable, the Bank records a provision against the case, as mentioned in this
note. Where the probability of outflow is considered to be remote, or probable, but a reliable estimate
cannot be made, a contingent liability is disclosed.
Generally, the first step is to establish the existence of the present obligation followed by the estimation of
the amount needed to settle that obligation considering a number of factors including legal advice, the stage
of the matter and historical evidence from similar incidents. Significant judgment is required to conclude
on these estimates.
In case of litigations:
i)
For a single individual litigation the Bank assess whether there is more likely than not to
have an unfavourable court decision considering the factors mentioned above; then it
estimates the amount at risk; in case there are several scenarios possible with different
outcomes, the amount at risk is the weighted average of the amounts at risk for each
scenario using the probability distribution for all scenarios (100% is allocated to the
possible scenarios) and provisions 100% of the estimated amount;
ii)
For multiple litigations, the assessment of “more likely than not” could be substantiated
for the entire population using statistics and provision computation to be made at pool
level.
In case of obligations arising from various legislation, the bank assesses first if there is no realistic
alternative of settling that obligation, and if not, it estimates the amount needed to settle that obligation
(using similar approach as above) and books provisions representing 100% of the estimated amount.
Please refer to Note 24 and Note 42 for more details.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
21
2. Basis of preparation (continued)
f) Segment information
A segment is a component of the Group and Bank:
-
that engages in business activity from which it may earn revenues and incur expenses (including
revenues and expenses relating to transactions with other components of the same entity);
-
whose operating results are regularly reviewed by the chief operating decision maker to make
decisions about resources to be allocated to the segment and assess its performance and;
-
for which distinct financial information is available.
The Group and Bank’s segment reporting is based on the following segments:
Retail
and Small Business,
Non-retail
and
Corporate Center
lines mentioned above (fixed assets, taxes, equity investments, etc.).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
22
3. Material accounting policies
a) Recognition of income and expenses
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Group
and the benefits can be reliably measured. The following specific recognition criteria must also be met
before revenue is recognized:
i) Interest and similar income
For all financial instruments measured at amortized cost and interest-bearing financial instruments
classified as FVOCI, interest income or expense is recorded at the effective interest rate, which is the rate
that exactly discounts estimated future cash payments or receipts through the expected life of the financial
instrument. The effective interest is applied to the gross carrying amount for assets classified in Stage 1 or
2 and to all financial liabilities. For financial assets classified as Stage 3 or POCI the effective interest rate
is applied to the net carrying amount.
The calculation considers all contractual terms of the financial instrument and includes any origination fees
and incremental costs that are directly attributable to the instrument and are an integral part of the effective
interest rate. The net carrying amount is calculated based on the original effective interest rate and the
change in carrying amount is recorded as interest income or expense.
ii) Fee and commission income
The Group and Bank earns fee and commission income from a diverse range of services it provides to its
customers. Fee income can be divided into the following two categories:
(i) Fee income earned from services that are provided over a certain period.
Fees earned for the provision of services over a period are accrued over the period, being recognized in
statement of profit and loss gradually. These fees include asset management, custody and other advisory
fees.
(ii) Fee income from providing transaction services: Fees arising from negotiating or participating in the
negotiation of a transaction for a third party – such as the arrangement of the acquisition of shares or other
securities or the purchase or sale of businesses. These fees are recognized on completion of the underlying
transaction. Fees or components of fees that are linked to a certain performance are recognized after
fulfilling the corresponding criteria.
iii) Dividend income
Revenue is recognized when the Group and Bank’s right to receive the payment is established, generally
when the shareholders approve the dividend.
iv) Net trading income
Net trading income comprises gains less losses related to assets and liabilities held for trading and
derivatives and includes all realised and unrealised fair value changes, interest, dividends and foreign
exchange differences. Interest income from all interest-bearing trading financial assets required to be
measured at FVPL is recognised part of the net trading income.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
23
3. Material accounting policies (continued)
a) Recognition of income and expenses (continued)
v) Levies
IFRIC 21 “Levies” clarifies the accounting for a liability to pay a levy. For an entity, the obligating event
that gives rise to a liability to pay a levy is the activity that triggers the payment of the levy, as identified
by the legislation. The liability to pay a levy is recognised progressively if the obligating event occurs over
a period. Furthermore, if an obligation to pay a levy is triggered when a minimum activity threshold is
reached, the corresponding liability is recognised when that minimum activity threshold is reached.
The main related taxes which fall under the provisions of IFRIC 21 are as follows:
●
The Bank annual contribution to Deposit Guarantee Scheme is fully recognised in the income statement
on 1st January of the year in which the payment is made.
●
The Bank annual contribution to the Single Resolution Fund, is fully recognised in the income statement
on 1st January of the year in which the payment is made.
b) Financial instruments - recognition
i) Initial recognition and date of recognition
The Group applies settlement date accounting policy for all financial assets (the financial assets are initially
recognized on the date of the transfer of funds). Between trade date and settlement date The Group
recognizes off balance sheet commitments.
ii) Measurement categories of financial assets and liabilities
Financial instruments are initially recognised at their fair value including transaction costs. Trade
receivables are measured at the transaction price.
In accordance with IFRS 9 classification, the Group classifies financial assets in the following measurement
categories:
●
fair value through profit and loss (FVPL);
●
fair value through other comprehensive income (FVOCI) or
●
amortised cost.
Classification and subsequent measurement of financial assets is generally based on the Group business
model to manage the assets and the cash flow characteristics of the assets.
The Group and the Bank classify and measure the financial liabilities at amortised cost.
The Bank classifies and measures its derivative and trading portfolio as FVPL.
The Group measures the equity instruments at fair value through profit and loss. Gains and losses on equity
investments measured at fair value through profit and loss are included in the line “Net gains on financial
assets measured at fair value through profit and loss” in the statement of profit and loss.
In the Bank’s Separate Financial Statement, the equity instruments representing investment in associates
and subsidiaries continue to be measured at cost less impairment in accordance with IAS 27 “Separate
financial statements”.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
24
3. Material accounting policies (continued)
c) Financial instruments – classification and measurement
According to IFRS 9, the Group classifies its financial assets that are debt instruments into one of the
following categories based on the assessment of business model and SPPI characteristics, as follows:
●
Financial assets that are held for collection of contractual cash flows and cash flows represent solely
payments of capital and interest (SPPI) are classified and measured at amortised cost. In this category
the Group includes the loans granted to customers, deposits placed with banks, corporate bonds and
repurchase transactions part of banking book portfolio. Treasury bonds in banking book portfolio
purchased starting July 1, 2022 are classified in this category.
●
Financial assets that are held for collection of contractual cash flows and for selling the assets and the
contractual cash flows represent solely payments of capital and interest are measured at fair value
through other comprehensive income. Treasury bonds in banking book portfolio purchased before June
30, 2022 are classified and measured at fair value through other comprehensive income.
●
Financial assets that are held for trading, regardless of the cash flow characteristics are measured at fair
value through profit and loss. In this category the Group includes the sub-portfolio of treasury bonds,
placements made to banks and repurchase transaction held for trading.
1) Business model assessment
The business model assessment is one of the two steps to classify financial assets.
The Group’s business model reflects how it manages its financial assets to generate cash flows; the business
model determines whether cash flows will result from collecting contractual cash flows, selling the financial
assets, or both.
The business model is determined at a level that reflects how groups of financial assets are managed
together to achieve a particular business objective. Accordingly, this condition is not an instrument-by-
instrument approach to classification and should be determined on a higher level of aggregation.
The business model assessment is performed based on scenarios that the Group reasonably expects to occur,
without taking ‘worst case’ or ‘stress case’ scenarios. The Group assesses the business model for newly
originated financial assets, considering information about how cash flows were realized in the past (namely
before the date of the origination of new assets) for that specific portfolio of assets, along with all other
relevant information. This means that there is no 'tainting' concept, but if there is a change in the way that
cash flows are realized then this will affect the classification of assets originated after the date of that
change.
In some circumstances, the Bank separates a portfolio of financial assets into sub-portfolios to reflect how
an entity manages them. Those portfolios are split and treated as separate portfolios, provided the assets
belonging to each sub-portfolio are separately defined.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
25
3. Material accounting policies (continued)
c) Financial instruments – classification and measurement (continued)
2) SPPI test
As a second step of its classification process the Group performs the assessment of the characteristics of
the contractual cash flows aiming to identify whether the contractual cash flows are “solely payments of
principal and interest on the principal amount outstanding” – SPPI test. The SPPI assessment is performed
at the initial recognition of the financial asset as well as subsequently when significant modifications occur.
The principal for the purpose of applying SPPI test is “the fair value of the asset at initial recognition” and
it may change over the life of the financial asset (e.g. if there are repayments of principal).
The most significant elements of interest are typically the consideration for the time value of money and
credit risk. Interest can also include consideration for other basic lending risks (for example, liquidity risk)
and costs (for example, administrative costs) associated with holding the financial asset for a particular
period. In addition, interest can include a profit margin that is consistent with a basic lending arrangement.
To make the SPPI assessment, the Group applies judgements and considers relevant factors such as the
currency in which the financial asset is denominated and the period for which the interest rate is set.
3) Debt instruments at FVOCI
These instruments largely comprise of treasury bonds.
After initial recognition FVOCI financial assets are measured at fair value with gains or losses being
recognized as OCI until the investment is derecognized. The fair value of investments that are actively
traded in organized financial markets is determined by reference to quoted market bid prices at the close of
business on the statement of financial position date. Interest income and foreign exchange gains and losses
are recognised in profit and loss.
The ECLs for debt instruments measured at FVOCI do not reduce the carrying amount of these financial
assets in the statement of financial position, which remains at fair value. Instead, an amount equal to the
allowance that would arise if the assets were measured at amortised cost is recognised in OCI as an
accumulated impairment amount, with a corresponding charge to profit or loss. The accumulated loss
recognised in OCI is recycled to the profit and loss upon derecognition of the assets.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
26
3. Material accounting policies (continued)
c) Financial instruments – classification and measurement (continued)
4) Derivatives that are not designated accounting hedging instruments
The Group uses derivative financial instruments such as forward currency contracts, currency swaps,
currency options, swaps and cross currency swaps on interest rate, as products offered to its clients but also
to hedge its risks associated with interest rate, liquidity and exchange rate. Such derivative financial
instruments are initially recognized at fair value on the date on which a derivative contract is entered into
and are subsequently re-measured at fair value.
Derivatives are carried as assets when their fair value is positive and as liabilities when fair value is
negative. Any gains or losses arising from changes in fair value of derivatives that are not designated as
hedge accounting instruments are taken directly to profit or loss for the year.
The fair value of forward currency contracts is calculated by reference to current forward exchange rates
for contracts with similar maturity profiles. The fair value of interest swap contracts is determined by
reference to market values of similar instruments.
5) Derivatives that are designated accounting hedging instruments
As a policy choice, the Group has also elected to continue to apply the hedge accounting requirements in
accordance with IAS 39. The Group and Bank designates certain derivatives held for risk management as
hedging instruments in qualifying accounting hedging relationships. The Group and Bank formally
documents the relationship between the hedging instruments and hedged item, including the risk
management objective and strategy in undertaking the hedge, together with the method that will be used to
assess the effectiveness of the hedging relationship.
The Group and Bank makes an assessment, both at the inception of the hedge relationship as well as on an
ongoing basis, as to whether the hedging instruments are expected to be highly effective in offsetting the
changes in the fair value during the period for which the hedge is designated. The actual results of the hedge
as recommended by IAS 39 should be in the range of 80-125 percent, but the Group and Bank uses a more
prudent approach and the range considered is 88-114 percent.
The Group and Bank use fair value hedges. When a derivative is designated as the hedging instrument in a
hedge of the change in fair value of a recognized asset or liability or a firm commitment that could affect
profit or loss, changes in the fair value of the derivative are recognized immediately in profit and loss
together with changes in the fair value of the hedged item that are attributable to the hedged risk.
If the hedging derivative expires or is sold, terminated or exercised, or the hedge no longer meets criteria
for fair value hedge accounting, or the hedge designation is revoked, then hedge accounting is discontinued
prospectively. Any adjustment up to that point to a hedged item for which the effective interest method is
used, is amortised to profit or loss as part of the recalculated effective interest rate of the item over its
remaining life.
6) Financial assets and financial liabilities held for trading
The Bank classifies financial assets or financial liabilities as held for trading when they have been purchased
or issued primarily for short-term profit making through trading activities or form part of a portfolio of
financial instruments that are managed together, for which there is evidence of a recent pattern of short-
term profit taking. Held-for-trading assets and liabilities are recorded and measured in the statement of
financial position at fair value.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
27
3. Material accounting policies (continued)
c) Financial instruments – classification and measurement (continued)
Changes in fair value are recognised in net trading income. Interest income or expense is recorded in net
trading income according to the terms of the contract, or when the right to payment has been established.
Included in this classification are debt securities, repurchase transactions and short positions acquired
principally for the purpose of selling or repurchasing in the near term.
7) Repurchase agreements
Securities sold with a simultaneous commitment to repurchase at a specified future date (repos) continue
to be recognized in the statement of financial position as securities and are measured in accordance with
the applicable accounting policies. The liability for amounts received under these agreements from banking
book portfolio is included in customers’ or interbank deposits. The difference between sale and repurchase
price is treated as interest expense using the effective yield method. Assets acquired with a corresponding
commitment to resell at a specified future date (reverse repos) from the banking book portfolio are recorded
as loans and advances.
8) Borrowings
Borrowings are initially recognized at the fair value of the consideration received less directly attributable
transaction costs. Subsequently borrowings are stated at amortized cost using the effective interest rate
method. Any discount or premium is integral part of the effective interest rate.
9) Financial guarantees, letter of credits and loan commitments
In the ordinary course of business, the Group and Bank gives financial guarantees, consisting of letters of
credit, guarantees and acceptances and performance guarantees.
Financial guarantees are presented in ‘Provisions’ line with the amount of the premium received being the
instruments’ fair value. The financial guarantees are subsequently measured at the higher of the amount
initially recognised less the cumulative amortisation recognised in the income statement and an ECL.
Any increase in the liability relating to financial guarantees is taken to the income statement in ‘Credit loss
expense’. The premium received is recognized in the income statement in ‘Net fees and commission
income’ on a straight-line basis over the life of the guarantee.
Undrawn loan commitments and letters of credits are commitments under which, over the duration of the
commitment, the Bank is required to provide a loan with pre-specified terms to the customer. Similar to
financial guarantee contracts, these contracts are in the scope of the ECL requirements.
The nominal contractual value of financial guarantees, letters of credit and undrawn loan commitments,
where the loan agreed to be provided is on market terms, are not recorded on in the statement of financial
position. The nominal values of these instruments together with the corresponding ECLs are disclosed in
Note 24 and in Note 45.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
28
3. Material accounting policies (continued)
d) Financial assets - derecognition
The Group derecognizes a portfolio of financial assets, a financial asset or a part of a financial asset (herein
after called „financial asset“) when and only when one of the following conditions is fulfilled:
●
The contractual rights to the cash flows expire;
●
It transfers the financial asset and the transfer qualifies for derecognition;
●
Voluntarily renounces its rights over the financial asset due to the asset being considered irrecoverable
or in order to grant a concession to the debtor;
●
Significant modification of a financial asset that generate the extinguishment of the existing financial
asset and recognition of a new financial asset.
Derecognition due to substantial modification of terms and conditions
In certain circumstances, the Group renegotiates or otherwise modifies the contractual cash flows of loans
to customers. When this happens, the Group assesses whether the new terms are substantially different to
the original terms. The Group does this by considering both quantitative and qualitative factors that are
substantially changing the size or the nature of lender’s risks associated with the pre-existing loan contract.
If the new terms are substantially different, the Group derecognises the original financial assets and
recognises a “new” financial asset. The new financial asset is initially recognized at fair value and the
classification and subsequent measurement is reassessed considering the new business model and the
contractual cash flows characteristics. The date of renegotiation is consequently considered to be the date
of initial recognition for impairment calculation purposes. All financial assets that are impaired at the date
of initial recognition (first origination or re-origination due to significant changes) are classified as
purchased or originated credit impaired (POCI).
On initial recognition the difference between transaction price and fair value of new financial asset is
recognised in P&L for loans where the fair value is calculated based on observable inputs (loans not
impaired at the date of modification).
When assessing the new terms to establish if they are significantly modified, the Group considers if the
change is made to increase recoverability of the pre-existing loan. The renegotiation or modification of the
contractual cash flow of an existing financial asset can generate derecognition of the financial asset and the
recognition of a new financial asset if the respective changes to the financial asset are significant. Changes
made for the purpose of increasing the received cash flows and which are not considered significant change
of the contractual characteristics do not generate derecognition.
The following modifications are considered significant contractual changes:
Quantitative criteria:
●
interest rate margin modification for floating interest rate and interest rate modification for fixed interest
rate higher than 3% over a 12 month period; the threshold is subject to review depending on the market
conditions;
●
tenor prolongation or reduction for non-revolving financial assets for more than 24 months or over 50%
from initial (prior to modification) remaining tenor.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
29
3. Material accounting policies (continued)
d) Financial assets - derecognition (continued)
Qualitative criteria refer to contractual modifications that are substantially changing the size or the nature
of lender’s risks associated with the pre-existing loan contract and are applicable to all financial assets:
●
change of the denomination currency;
●
change of the type of interest (variable or fixed) for performing loans (commercial renegotiation);
●
contract changed obligor / counterparty;
●
consolidation of two or more loans to one loan (many to 1);
●
split of one loan to two or more loans (1 to many);
●
modification of an SPPI compliant contract by introducing a features that is non-SPPI or modification
of a non-SPPI contract by removing the features that are non-SPPI through commercial renegotiation;
●
change of a commercial product or use of the same product but from updated bank commercial offer
available at the change date for performing loans (commercial renegotiation);
●
renewal of a performing revolving loan (regardless of new tenor) if a substantive risk analysis is
performed.
Derecognition other than for substantial modification
A financial asset is derecognized where either:
●
The rights to receive cash flows from the assets have expired;
●
The Group retains the right to receive cash flows from the asset, but has assumed an obligation to pay
them in full without material delay to a third party under a “pass-through” arrangement; or
●
The Group has transferred its rights to receive cash flows from the asset and either a) has transferred
substantially all the risks and rewards of the asset, or b) has neither transferred nor retained substantially
all the risks and rewards of the asset, but has transferred control of the asset.
A financial liability is derecognized when the obligation under the liability is discharged, cancelled or
expires. Where an existing financial liability is replaced by another from the same lender on substantially
different terms, or the terms of an existing liability are substantially changed, such an exchange or
modification is treated as a de-recognition of the original liability and the recognition of a new liability, and
the difference in the respective carrying amounts are recognized in profit or loss.
Write-offs
A write-off is performed when the entire loan is deemed uncollectible (very high uncertainty regarding
recoverable amount and timeframe). Write-off is not conditioned by the closure of the legal procedures, nor
does it imply the forfeit of the bank’s claims to the receivables / financial asset. A write-off is performed
only where the chances of recoveries are remote.
The Bank performs permanent write-offs under certain situations, such as:
●
the financial assets are considered immaterial, thus do not justify the initiation of the recovery process;
●
the collaterals which cover the receivables have a recovery value deemed immaterial and no other
recovery sources could be identified;
●
exhaustion of all legal means;
●
end of the statute of limitation period for enforcement rights, etc.
Any recoveries of previously written-off loans and receivables are recognized as income.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
30
3. Material accounting policies (continued)
e) Financial assets reclassification
The Group does not reclassify its financial assets subsequent to their initial recognition, apart from the
exceptional circumstances in which the Bank acquires, disposes of, or terminates a business line. Financial
liabilities are never reclassified.
f)
Impairment model of financial assets
The Group assesses on a forward-looking basis the expected credit losses (“ECL”) for the following
categories of financial assets: loans and placed deposits measured at amortised cost, debt instruments
measured at fair value to other comprehensive income, loan commitments and financial guarantee contracts,
contract assets and trade receivables.
The group recognises a loss allowance for such losses at each reporting date. The measurement of ECL
reflects:
●
An unbiased and probability-weighted amount that is determined by evaluating a range of possible
outcomes;
●
The time value of money;
●
Reasonable and supportable information that is available without undue cost or effort at the reporting
date about past events, current conditions and forecasts of future economic conditions.
The ECL calculation considers both the number of days past due recorded by the receivables and the credit
risk analysis performed for clients with granted loans.
For contract assets and trade receivables the Group applies the simplified approach for measuring the
expected credit losses and recognizes lifetime expected credit losses in accordance to the provisions of
IFRS 9 “Financial Instruments”. Based on an assessment of historical information the Bank recognizes
expected credit loss for contract assets and the trade receivables with more than 90 days past due for the
entire exposure amount.
Overview of the ECL principles
The ECL allowance is based on the credit losses expected to arise over the life of the asset (the lifetime
expected credit loss or LTECL), unless there has been no significant increase in credit risk since origination,
in which case, the allowance is based on the 12 months’ expected credit loss (12mECL). The ECL is
computed from the time of origination.
Consequently, financial assets subject to loss allowances can be classified in Stage 1, Stage 2, Stage 3 or
POCI, as described below:
●
Stage 1
Loss allowance shall be equal to 12mECL.
●
Stage 2
when a financial asset shown significant increase in credit risk since initial recognition, though
not impaired; Loss allowance shall be equal to LTECL.
●
Stage 3
financial assets classified as impaired; Loss allowance is represented by LTECL.
●
POCI
financial assets that are credit impaired on initial recognition. Loss allowance shall be equal to
LTECL. ECLs are only recognized or released to the extent that there is a subsequent change in the
expected credit losses.
The expected credit loss may be calculated either individually or collectively in accordance with IFRS 9.
The Bank model for computing the expected credit losses is:
●
Individual or collective assessment for clients in Stage 3;
●
Collective assessment for clients in Stage 2 or Stage 1.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
31
3. Material accounting policies (continued)
f) Impairment model of financial assets (continued)
Staging criteria
The Bank has established criteria to perform the assessment of significant increase in credit risk since initial
recognition on a monthly basis, considering both relative and absolute thresholds.
For Non Retail portfolio (Corporate and Public Authorities), the staging criteria are:
Stage 3: criteria as provided by EBA default definition as presented below.
Stage 2: assessment of
Relative threshold :
Doubling of the lifetime Probability of default (“PD”) since origination and the absolute
increase exceeds a pre-defined quantitative threshold
Absolute thresholds:
Clients rated with the last three risk classes in term of risk (“sub-standard grade”, as
detailed in Note 45.1), Clients with expired ratings for more than three months, Clients not rated as of
reporting date, Healthy clients with restructured facilities in probation and DPD < 30, Clients with DPD >
30
Stage 1: include all clients not classified in Stage 2 or Stage 3 based on the above conditions
●
For Small Business, the staging criteria are:
Stage 3: criteria as provided by EBA default definition as presented below
Stage 2: assessment of
Relative threshold:
Doubling of the lifetime PD since origination and the absolute increase exceeds a pre-
defined quantitative threshold
Absolute thresholds:
Clients rated with the last three risk classes in term of risk (“sub-standard grade”, as
detailed in Note 45.1), Healthy clients with restructured facilities in probation and DPD < 30, Clients with
DPD > 30
Stage 1: include all clients not classified in Stage 2 or Stage 3 based on the above conditions
●
For Individuals and Professionals, the staging criteria are:
Stage 3: criteria as provided by EBA default definition as presented below
Stage 2: assessment of
Relative threshold:
Doubling of the lifetime PD since origination and the absolute increase exceeds a pre-
defined quantitative threshold
Absolute thresholds:
Clients rated with the last two risk classes in term of risk (“sub-standard grade”, as
detailed in Note 45.1), Healthy clients with restructured facilities in probation and DPD < 30, Clients with
DPD > 30
Stage 1: include all clients not classified in Stage 2 or Stage 3 based on the above conditions
In accordance with EBA default definition, the main considerations for the loan impairment assessment
include whether any payments of principal or interest are overdue by more than 90 days, whether a severe
alteration in the counterparty’s financial standing is observed, entailing a high probability that the debtor
will not be able to fully meet its credit obligations, whether concessions in the form of restructuring were
consented under the circumstances of financial hardship experienced by the debtor, whether legal
procedures were initiated or the debtor was transferred to specialized recovery structures (regardless of the
number of days past due).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
32
3. Material accounting policies (continued)
f) Impairment model of financial assets (continued)
ECL calculation techniques:
The key elements of ECL calculation are outlined below:
●
PD
Probability of Default
(TTC) marginal PD curve and Adjustment of the TTC curve to incorporate point in time and forward
looking information;
●
LGD
Loss Given Default
recoveries;
●
EAD Exposure at default estimation at each time step is based on internally modelled Credit
Conversion Factor (“CCF”).
●
Point in time and forward looking transformation for ECL parameters.
Forward-looking information
Expected losses are computed based on three macroeconomic scenarios: optimistic, base and stress
scenario. Consequently, expected credit losses are influenced both by changes in portfolio quality as well
as changes in macroeconomic projections. Macroeconomic models are sensitive to GDP, RON/EUR
exchange rate and unemployment rate. Final ECL is derived using the weighted average of the three
scenarios (based on their probabilities of occurrence).
The inputs and models used for calculating ECL may not always capture all characteristics of the market at
the date of the financial statements. To reflect this, the Bank assesses the need/opportunity for additional
amounts of provisions in the form of overlays, in order to address:
●
Sector of activity specific risks (adjustment of ECL on sectors that have a different default behaviour
from the whole calibration segment)
●
Visible macroeconomic threat impossible to be captured by the models (typically, when the predicted
stress did not occur in the observed past serving as a base for models).
Impairment/default principles
Impairment and recoverability are assessed, measured and recognized individually for loans and receivables
that are individually significant, and on a portfolio basis for impaired loans and receivables that are not
individually significant. Loans and receivables for which objective evidence of impairment was not
identified, regardless the loans are individually significant or not, are included in a portfolio for collective
impairment assessment. The carrying amount of the asset is reduced to its estimated recoverable amount
through the use of an allowance account. The loss amount is recognised into profit and loss. If the amount
of the impairment subsequently decreases due to an event occurring after the impairment, the release of the
allowance is credited to the income statement.
The Group implemented the definition of the default status according to the criteria set by EBA. All the PD
curves used as input elements in the ECL calculation were calibrated by applying the EBA definition
retroactively, in order to ensure the consistency regarding the entry into default status at the time of
calibration.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
33
3. Material accounting policies (continued)
f) Impairment model of financial assets (continued)
Collateral valuation
To mitigate its credit risks on financial assets, the Bank seeks to use collateral, where possible. The
collateral comes in various forms, such as cash, letters of guarantees, real estate, etc.
Real estate collaterals are regularly valuated. Their market value is estimated by certified evaluators that
can be either external or internal valuators. Depending on the collateral type, revaluation is performed:
●
Yearly, for commercial / industrial / agricultural real-estate, plots of land
●
At least once every 3 years, for residential real estate or with higher frequency if the real estate market
displays a significant negative evolution.
The value of collateral affects the calculation of ECLs through LGD parameter, which is an estimate of the
loss arising in the case where a default occurs at a given time, considering all the cash flows collected from
the client, as well as the recovery value of collaterals (net of any cost and additional losses), by incorporating
the effect of time value of money. The recovery value of a collateral is determined by applying discount
coefficients to its market value when computing the provisions on individual assessment basis.
g) Cash and cash equivalents
For the purpose of the cash flow statements, cash and cash equivalents comprise cash in hand, current
accounts and short-term placements at other banks and the amounts representing minimum compulsory
reserve held at National Bank of Romania, excluding amounts in transit and loans to banks with more than
90 days maturity from the date of acquisition.
h) Leases
The determination of whether an arrangement is, or contains a lease is based on the substance of the
arrangement and requires an assessment of whether the fulfilment of the arrangement is dependent on the
use of a specific asset or assets and the arrangement convey a right to use the asset.
A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for
a period in exchange for consideration.
Group as a lessor
Finance leases are those which transfer to the lessee substantially all the risks and benefits incidental to
ownership of the leased item and are recognized as assets at the inception of the lease at the fair value of
the leased property or, if lower, at the present value of the minimum lease payments. Lease payments are
allocated both to the principal and the interest income on a pattern reflecting a constant periodic rate of
return on the lessor's net investment outstanding in respect of the finance lease.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
34
3. Material accounting policies (continued)
h) Leases (continued)
Group as a lessee
The Group applies a single recognition and measurement approach for all leases, except for short-term
leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and
right-of-use assets representing the right to use the underlying assets. For short-term leases or leases for
which the underlying asset is of low value, the related lease payments are recognized as an expense on a
straight-line basis over the lease term (please see Note 40).
Right-of-use assets
The Group recognizes right-of-use assets at the commencement date of the lease (i.e. the date the underlying
asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and
impairment losses, and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assets
includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at
or before the commencement date. Right-of-use assets are depreciated on a straight-line basis over the lease
term. The right-of-use assets are presented within Note 15.
Lease liabilities
At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value
of lease payments to be made over the lease term. The lease payments can include fixed payments, variable
lease payments that depend on an index or a rate, and amounts expected to be paid under residual value
guarantees. The lease payments can also include payments of penalties for terminating the lease.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
35
3. Material accounting policies (continued)
i) Investment in associates and joint ventures
An associate is an enterprise in which the Group and Bank exercises significant influence and is neither a
subsidiary nor a joint venture.
A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have
rights to the net assets of the arrangement. The Group recognizes its interest in a joint venture as an
investment and shall account for that investment using the equity method in accordance with IAS 28
Investments in Associates. The Bank accounts its interest in joint venture in the separate financial
statements at cost less impairment.
Associates and joint venture are accounted using the equity method for consolidation purposes and cost
method for separate financial statements.
Under the equity method, an investment in an associate and joint venture is carried in the statement of
financial position at cost plus post-acquisition changes in the Group and Bank’s share of net assets of the
associate or joint venture. Goodwill relating to an associate or joint venture is included in the carrying
amount of the investment and is not amortized. The Group and Bank does an assessment of any additional
impairment loss with respect to the net investment in associate or joint venture.
The income statement reflects the share of the results of operations of associates and joint ventures. Where
there has been a change recognized directly in the equity of the associate or joint venture, the Group
recognizes its share of any changes and discloses this, when applicable, in the statement of changes in
equity.
The reporting dates of associates and joint venture and the Group are identical and the associates’ or joint
ventures’ major accounting policies conform to those used by the Group for like transactions and similar
events in similar circumstances.
j) Tangible assets
The cost of tangible asset is recognized as an asset if, and only if: (a) it is probable that future economic
benefits associated with the item will flow to the Group; and (b) the cost of the item can be measured
reliably.
Buildings and other tangible assets are stated at cost less accumulated depreciation and any impairment
loss.
In accordance with IAS 29 “Reporting in Hyperinflationary Economies”, tangible assets have been restated,
as appropriate, by applying the change in the consumer price index from the date of acquisition through
December 31, 2003.
Depreciation is computed on a straight-line basis over the estimated useful life of the asset, as stated below:
Asset type | Years | |
Buildings and special constructions | 10-40 | |
Computers and equipment | 3-5 | |
Furniture and other equipment | 15 | |
Vehicles | 5 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
36
3. Material accounting policies (continued)
j) Tangible assets (continued)
The carrying amount of tangible assets is reviewed for impairment at each statement of financial position
date or whenever events or changes in circumstances indicate the carrying amount may not be recoverable.
An asset’s recoverable amount is the higher of an asset’s or CGU (Cost Generation Unit)’s fair value less
costs of disposal and its value in use. The recoverable amount is determined for an individual asset, unless
the asset does not generate cash inflows that are largely independent of those from other assets or groups
of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
considered impaired and is written down to its recoverable amount.
Tangible assets are derecognized upon disposal or when no future economic benefits are expected from its
use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as the difference between
the net disposal proceeds and the carrying amount of the asset) is included in the income statement in the
year the asset is derecognized.
k) Investment properties
Assets are classified as investment property
if the property (land or a building - or part of a building - or
both) is held (by the Bank or Group as owner) to earn rentals or for capital appreciation or both, rather than
for: use in the production or for administrative purposes; or sale in the ordinary course of business.
Investment properties are measured initially at cost including transaction costs. Subsequent to initial
recognition, investment properties are carried at cost less any accumulated depreciation and any
accumulated impairment losses.
Investment properties are derecognized when either they have been disposed-off or when the investment
property is permanently withdrawn from use and no future economic benefit is expected from its disposal.
Any gains or losses on the retirement or disposal of an investment property are recognized in the income
statement in the year of retirement or disposal.
Transfers are made to investment property when and only when, there is a change in use, evidenced by
ending of owner-occupation, commencement of an operating lease to another party, or ending of
construction or development. Transfers are made from investment property when and only when, there is a
change in use evidenced by commencement of owner-occupation or commencement of development with
a view to sale. The depreciation of buildings included in investment properties is computed using the linear
method over the useful lives as presented in Note 3 j).
l) Assets held for sale
Non-current assets for which the carrying amount is estimated to be recovered principally through a sale
transaction rather than continuing use are classified as held for sale.
Assets held for sale represented by property, plant and equipment are initially and subsequently measured
at the lower of the carrying amount and the fair value at the date of the measurement. For any decrease of
the fair value below the carrying amount, impairment is recognised into profit and loss accounts. The
increase of the fair value of a held for sale asset is accounted for as an impairment release. Fair value
increase is recognised up to the level of the initial carrying amount of the asset.
On the period an asset is classified as held for sale no depreciation charged is recognised. An asset that
ceases to be classified as held for sale is measured at the lower of the carrying amount before the asset was
classified as held for sale adjusted by the depreciation that would have been recognised had the asset was
not classified as held for sale and its recoverable amount.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
37
3. Material accounting policies (continued)
m) Goodwill
Goodwill acquired in a business combination is initially measured at the excess of the aggregate of
consideration transferred and the amount of any non-controlling interest in the acquiree over the net
amounts of the identifiable assets and liabilities acquired. Following initial recognition, goodwill is
measured at cost less any accumulated impairment losses.
Goodwill is reviewed for impairment at each reporting date or more frequently if events or changes in
circumstances indicate that the carrying value may be impaired. Impairment is determined by assessing the
recoverable amount of the cash-generating unit, to which the goodwill relates. Where the recoverable
amount of cash-generating unit is less than the carrying amount, an impairment loss is recognized.
n) Intangible assets
Intangible assets are measured initially at cost. Following initial recognition intangible assets are carried at
cost less any accumulated amortization and any accumulated impairment losses. All intangible assets of the
Group and Bank carried as of December 31, 2024 and 2023 have finite useful lives and are amortized on a
straight-line basis over the estimated useful life of up to 5 years. The amortization period and the
amortization method are reviewed at least at each financial year end.
At each statement of financial position date or whenever events or changes in circumstances indicate the
carrying value may not be recoverable, intangibles are reviewed for impairment. Where the carrying amount
of an asset is greater than the estimated recoverable amount, it is written down to its recoverable amount
by recognising impairment. An intangible asset is derecognized upon disposal (i.e., at the date the recipient
obtains control) or when no future economic benefits are expected from its use or disposal. Any gain or
loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds
and the carrying amount of the asset) is included in the statement of profit or loss.
o) Employee benefits
Short-term employee benefits:
Short-term employee benefits include wages, salaries and social security contributions. Short-term
employee benefits are recognized as expense when services are rendered.
Social Security Contributions:
The Group and its subsidiaries as well as its employees are legally obliged to make contributions described
in the financial statements as social security contributions to the National Pension Fund, managed by the
Romanian State Social Security (a defined contribution plan financed on a pay-as-you-go basis). The Group
and Bank has no legal or constructive obligation to pay future benefits. Its only obligation is to pay the
contributions as they fall due. If the members of the Romanian State Social Security plan cease to be
employed by either the Group or its subsidiary, there will be no obligation on the Group to pay the benefits
earned by these employees in previous years. The Group and Bank’s contributions are included in salaries
and related expenses.
Post-employment benefits:
The Group and Bank has a contractual obligation to pay to retiring employees a benefit calculated
considering the salary at the date of retirement and the number of years served by the individual. The cost
of providing benefits under defined benefit plans is estimated annually using the projected unit credit
actuarial valuation method and is recognized to the income statement on an accrual’s basis. Differences
arising from changes in calculation assumptions (early retirements, discount rates, etc.) or differences
between actuarial assumptions and real performance are recognized as actuarial gains and losses.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
38
3. Material accounting policies (continued)
o) Employee benefits (continued)
Actuarial gains and losses, excluding amounts expensed as net interest on the net defined benefit liability
are components used to re-measure the net defined benefit liability. These components are immediately and
fully recognised as unrealised gains and losses and presented under Reserves from defined benefit pension
plan. These items are subsequently never reclassified in income statement but transferred to retain earnings.
Where a new or amended plan comes into force, the past service cost is immediately recognized in profit
or loss.
An annual charge is recorded under Personnel expenses for defined benefit plans, consisting of:
-
the additional entitlements vested by each employee (current service cost);
-
past service cost resulting from a plan amendment or a curtailment;
-
the financial expense resulting from the discount rate (net interest on the net defined benefit
liability);
-
the settlement of plans.
Share–based payment transactions:
Based on the annual performance certain employees of the Group and Bank receive remuneration in the
form of SG share–based payment transactions, whereby employees render services as consideration for
equity instruments (‘equity–settled transactions’). The cost of equity–settled transactions is recognized,
together with a corresponding increase in equity, over the period in which the performance and/or service
conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the
award (‘the vesting date’, usually 3 years).
Additionally, according to the Bank’s Remuneration Policy, the Executive Officers are entitled to a variable
remuneration, which is granted based on quantitative and qualitative criteria and represents a cash-settled
transaction, having two components’ cash and share equivalents settled in cash (BRDTP - Bonus package
for the executive officers). BRDTP or share equivalents is a component of the variable remuneration
expressed in units, whose value is determined for a relevant reference period preceding the vesting date,
based on the price of the Bank shares, listed on the Bucharest Stock Exchange.
In accordance with European and local legislation in force and the Bank’s risk appetite targets whilst
promoting alignment with shareholders’ interests, vesting of at least 60% of the variable remuneration is
deferred over five years, on a pro rata basis.
This concerns both cash payments and share equivalents (BRDTP) granted subject to the achievement of
long-term performance conditions related to Bank profitability. Another vesting condition refers to the
presence of the Beneficiary (i.e. the mandate contract is not terminated). At least 50% from any variable
remuneration must be composed of share equivalents.
Moreover, the employees of the Bank and of the Group can participate in SG International Saving Plan or
Global Employee Share Ownership Plan, through which they can to acquire Société Générale shares at a
preferential price under the following condition:
- Subscription price reduced by 20% versus the SG share reference price ;
- A gross premium for the first 20 shares acquired supported by the employer representing 100% of
employee contribution, starting the 21st share the premium represent 50% of the employee contribution
(classified as short term employee benefits). The overall gross premium paid by the employer cannot exceed
a certain threshold.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
39
3. Material accounting policies (continued)
o) Employee benefits (continued)
Other benefits
The Bank also grants to all employees:
●
annual contribution to a private pension fund (Pillar 3) in total amount of 200
EUR/year/employee (for the employees with a seniority in the Bank higher than 3 years)
●
upon termination of the individual labour agreement for reasons not related to the employee (related
with the number of years served by the employee)
●
fidelity premium (related with the number of years served by the employee)
●
on December 1st an amount equal to the basic salary
●
holiday vouchers, meal vouchers
●
social expenses: gifts for the employees’ children given during Easter, Christmas and Children's
Day, gifts for the women employees of the Bank on 8 March, for birth every newborn, for the civil
marriage of the employee, for the death of a family member or in case of the death of the employee.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
40
3. Material accounting policies (continued)
p) Provisions
Provisions are recognized when the Group and Bank has a present obligation (legal or constructive),
because of a past event, it is probable that an outflow of embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the
time value of money is material, provisions are discounted using a current pre-tax rate that reflects, where
appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due
to the passage of time is recognized as borrowing cost.
q) Contingencies
Contingent liabilities are not recognized in the financial statements, but they are disclosed unless the
possibility of an outflow of resources embodying economic benefits is remote. A contingent asset is not
recognized in the financial statements but disclosed when an inflow of economic benefits is probable.
r) Earnings per share
Basic earnings per share are calculated by dividing net profit/ (loss) for the reporting period attributable to
ordinary equity holders of the parent by the weighted average number of shares outstanding during the year.
As of December 31, 2024 and 2023 there were no dilutive equity instruments issued by the Group and
Bank.
s) Dividends on ordinary shares
Dividends on ordinary shares are recognized as a liability and deducted from equity when they are approved
by the Group and Bank’s shareholders.
t) Related parties
Parties are considered related with the Group and Bank when one party, either through ownership,
contractual rights, family relationship or otherwise, could directly or indirectly control or significantly
influence the other party in making financial and operating decisions. Related party transaction represents
a transfer of resources or obligations between related parties, regardless of whether a price is charged.
u) Subsequent events
Post-balance sheet events that provide additional information about the Group and Bank’s position at the
statement of financial position (adjusting events), or those that indicate that the going concern assumption
is not appropriate are reflected in the financial statements. Post-balance sheet events that are not adjusting
events are disclosed in the notes when significant.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
41
4. Segment information
The segments used for management purposes are based on customer type and size, products and services
offered and follow the aggregation criteria from IFRS 8:
The operating segments’ operating results are regularly reviewed by the Group's chief operating decision
maker to make decisions about resources to be allocated to the segment and assess its performance.
Each segment is assessed both from Statement of financial position and Statement of profit or loss
perspective.
In Retail (Individuals & Small Business) category the following customer’s segments are identified:
●
Individuals – the Bank provides individual customers with a range of banking products such as: saving
and deposits taking, consumer and housing loans, overdrafts, credit card facilities, funds transfer and
payment facilities, etc.
●
Small business – business entities with annual turnover lower than EUR 1 million and having an
aggregated exposure at group level less than EUR 0.3 million. Standardised range of banking products
is offered to small companies and professional: saving and deposits taking, loans and other credit
facilities, etc.
Retail customers include clients with similar characteristics in terms of financing needs, complexity of the
activity performed and size of business for which a range of banking products and services with medium
to low complexity is provided.
In Non–Retail category the following customer’s segments are identified:
●
Small and medium enterprises (companies with annual turnover between EUR 1 million and EUR 50
million and the aggregated exposure at group level higher than EUR 0.3 million);
●
Large corporate (corporate banking and companies with annual turnover higher than 50 million EUR,
municipalities, public sector and other financial institutions).
The Bank provides these customers with a range of banking products and services, including saving and
deposits taking, loans and other credit facilities, transfers and payment services, provides cash-
management, investment advices, securities business, project and structured finance transaction, syndicated
loans and asset backed transactions.
The Corporate Center includes: treasury activities, ALM and other categories unallocated to Retail and
Non-Retail business lines.
The Executive Committee monitors the activity of each segment separately for the purpose of making
decisions about resource allocation and performance assessment.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
42
4. Segment information (continued)
Group | |||||||||
2024 | 2023 | ||||||||
Total | Retail | Non retail | Corporate Center | Total | Retail | Non retail | Corporate Center | ||
Net interest income | 2,911,643 | 1,781,525 | 904,664 | 225,454 | 2,725,154 | 1,634,682 | 794,560 | 295,912 | |
Fees and commissions, net | 808,775 | 540,975 | 313,184 | (45,384) | 750,243 | 480,609 | 276,702 | (7,068) | |
Total non-interest income | 311,616 | 74,488 | 102,179 | 134,949 | 358,826 | 115,396 | 103,775 | 139,655 | |
Net banking income | 4,032,034 | 2,396,988 | 1,320,027 | 315,019 | 3,834,223 | 2,230,687 | 1,175,037 | 428,499 | |
Total operating | (2,023,336) | (1,456,731) | (540,233) | (26,372) | (1,895,145) | (1,356,567) | (499,994) | (38,584) | |
Cost of risk | (145,341) | (150,804) | 5,285 | 178 | 57,378 | (78,500) | 142,473 | (6,595) | |
Total income tax | (339,581) | (143,867) | (143,071) | (52,643) | (340,627) | (135,758) | (139,494) | (65,375) | |
Profit for the period | 1,523,776 | 645,586 | 642,008 | 236,182 | 1,655,829 | 659,862 | 678,022 | 317,945 | |
Cost Income Ratio | 50.2% | 60.8% | 40.9% | 49.4% | 60.8% | 42.6% | |||
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
43
4. Segment information (continued)
Group | |||||||||
December 31, 2024 | December 31, 2023 Restated | ||||||||
Total | Retail | Non retail | Corporate Center | Total | Retail | Non retail | Corporate Center | ||
Total assets | 88,479,703 | 28,596,010 | 21,132,667 | 38,751,026 | 83,848,961 | 25,532,562 | 16,416,194 | 41,900,205 | |
Loans and advances to customers, Finance lease receivables | 49,728,677 | 28,596,010 | 21,132,667 | - | 41,738,870 | 25,322,676 | 16,416,194 | - | |
Other assets | 38,751,026 | - | - | 38,751,026 | 42,110,091 | 209,886 | - | 41,900,205 | |
Total liabilities | 88,479,703 | 44,319,868 | 23,615,274 | 20,544,561 | 83,848,961 | 40,766,424 | 21,639,185 | 21,443,352 | |
Due to customers | 67,935,142 | 44,319,868 | 23,615,274 | - | 62,405,609 | 40,766,424 | 21,639,185 | - | |
Other liabilities | 20,544,561 | - | - | 20,544,561 | 21,443,352 | - | - | 21,443,352 | |
As of December 31, 2023 the category “Other assets” includes the loan portfolio of BRD Finance SA which is made of Retail consumer unsecured loans and
that meets the criteria in IFRS 5 “Non-current assets held for sale and discontinued operations”, for classification as non-current asset held for sale.
As of December 31, 2024 the loan portfolio of BRD Finance SA was sold to a third party.
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For details please refer to
note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
44
December 31, 2024
December 31, 2023
December 31, 2024
December 31, 2023
Current accounts with Central Bank
5,096,004
9,256,037
5,096,004
9,256,037
Very good grade
5,096,004
9,256,037
5,096,004
9,256,037
Current accounts and placements with other banks
1,106,792
512,372
1,106,792
512,372
Very good grade
985,831
511,745
985,831
511,745
Good grade
120,000
0
120,000
0
Standard grade
960
627
960
627
Group
Bank
5. Cash and cash equivalents
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Cash in vaults and ATM | 2,455,239 | 2,693,482 | 2,455,158 | 2,693,410 |
Current accounts with Central Bank | 5,096,004 | 9,256,037 | 5,096,004 | 9,256,037 |
Current accounts and placements with other banks | 1,106,792 | 512,372 | 1,106,792 | 512,372 |
Total | 8,658,035 | 12,461,891 | 8,657,954 | 12,461,819 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
The rating of cash equivalents is presented below:
:
6. Due from banks
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Deposits at foreign banks | - | 15,366 | - | - |
Current accounts at Romanian banks | 50,482 | 119,779 | 50,482 | 119,779 |
Current accounts at foreign banks | 213,412 | 350,174 | 213,412 | 350,174 |
Reverse repo | 6,049,529 | 4,650,402 | 6,049,529 | 4,650,402 |
Total | 6,313,423 | 5,135,721 | 6,313,423 | 5,120,355 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
The Due from banks portfolio is classified as Stage 1.
7. Derivatives and other financial instruments held for trading
Group | |||
December 31, 2024 | |||
Assets | Liabilities | Notional (total) | |
Interest rate swaps | 35,248 | 151,439 | 5,529,920 |
Currency swaps | 46,120 | 11,324 | 4,651,924 |
Forward foreign exchange | 21,945 | 10,937 | 1,700,164 |
Options | 38,556 | 38,672 | 6,536,794 |
Total derivative | 141,869 | 212,372 | 18,418,802 |
December 31, 2024 | |||
Assets | Liabilities | ||
Treasury notes | 809,797 | 226,548 | |
Trading loans/deposits | 224,827 | - | |
Reverse repo/Repo | 666,069 | 85,090 | |
Total financial | 1,700,693 | 311,638 | |
Total derivatives trading | 1,842,562 | 524,010 | |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
45
7. Derivatives and other financial instruments held for trading (continued)
Group | ||||
December 31, 2023 | ||||
Assets | Liabilities | Notional (total) | ||
Interest rate swaps | 27,661 | 253,207 | 4,912,352 | |
Currency swaps | 12,587 | 35,016 | 3,755,955 | |
Forward foreign exchange | 3,177 | 3,537 | 1,030,494 | |
Options | 43,858 | 44,011 | 3,857,823 | |
Total derivative | 87,283 | 335,771 | 13,556,624 | |
December 31, 2023 | ||||
Assets | Liabilities | |||
Treasury notes | 1,219,076 | 522,637 | ||
Trading loans/deposits | - | 344,613 | ||
Reverse repo/Repo | 829,350 | 69,429 | ||
Total financial | 2,048,426 | 936,679 | ||
Total derivatives trading | 2,135,709 | 1,272,450 | ||
Bank | |||
December 31, 2024 | |||
Assets | Liabilities | Notional (total) | |
Interest rate swaps | 35,248 | 151,439 | 5,529,920 |
Currency swaps | 46,120 | 11,324 | 4,651,924 |
Forward foreign exchange | 21,945 | 10,937 | 1,700,164 |
Options | 38,556 | 38,672 | 6,536,794 |
Total derivative | 141,869 | 212,372 | 18,418,802 |
December 31, 2024 | |||
Assets | Liabilities | ||
Treasury notes | 777,739 | 226,548 | |
Trading loans/deposits | 224,827 | - | |
Reverse repo/Repo | 666,069 | 85,090 | |
Total financial | 1,668,635 | 311,638 | |
Total derivatives trading | 1,810,504 | 524,010 | |
Bank | |||
December 31, 2023 | |||
Assets | Liabilities | Notional (total) | |
Interest rate swaps | 27,661 | 253,207 | 4,912,352 |
Currency swaps | 12,587 | 35,016 | 3,755,955 |
Forward foreign exchange | 3,177 | 3,537 | 1,030,494 |
Options | 43,858 | 44,011 | 3,857,823 |
Total derivative | 87,283 | 335,771 | 13,556,624 |
December 31, 2023 | |||
Assets | Liabilities | ||
Treasury notes | 1,194,028 | 522,637 | |
Trading loans/deposits | - | 344,613 | |
Reverse repo/Repo | 829,350 | 69,429 | |
Total financial | 2,023,378 | 936,679 | |
Total derivatives trading | 2,110,661 | 1,272,450 | |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
46
7. Derivatives and other financial instruments held for trading (continued)
The Bank continues to apply hedge accounting (fair value hedge) as of December 31, 2024 and has four
hedging relationships (five hedging relationships as of December 31, 2023). The Bank applies EU carve-
out.
●
On June 30, 2018, the Bank initiated two macro fair value hedges one in EUR and one in USD of
interest rate risk associated with the current accounts, using several interest rate swaps (pay variable,
receive fixed). The change in the fair value of the macro fair value hedge swaps offsets the change in
the fair value of the hedged portion of the current accounts. The hedged items are represented by the
portion of the current accounts’ portfolio equal to the swap’s nominal values of:
●
In October 30, 2020 the Bank initiated a macro fair value hedge of interest rate risk associated with the
current accounts, using several interest rate swaps (pay variable, receive fixed). The change in the fair
value of the macro fair value hedge swaps offsets the change in the fair value of the hedged portion of
the current accounts. The hedged item is represented by the portion of the current accounts’ portfolio
equal to the swaps nominal of 210 million EUR. The swap has a fixed interest rate of -0.403% and a
remaining period of 5.84 years.
●
On September 30, 2021 the Bank initiated a macro fair value hedge of interest rate risk associated with
the current accounts, using several interest rate swaps (pay variable, receive fixed). The change in the
fair value of the macro fair value hedge swaps offsets the change in the fair value of the hedged portion
of the current accounts. The hedged item is represented by the portion of the current accounts’ portfolio
equal to the swaps nominal of 60 million EUR. The swap has a fixed interest rate of -0.337% and a
remaining period of 1.75 years.
●
On October 31, 2023 the Bank initiated two micro fair value hedges in EUR of interest rate risk
associated with the purchased fixed rate bonds issued by French Republic in EUR, using an interest
rate swap (pay fixed, receive variable). The purpose of the hedge is to protect the Bank against change
in benchmark interest rate. The benchmark interest rate considered for EUR by the Bank is EURIBOR
3M. The hedged items are represented by bonds issued by French Republic which equal to the swap
nominal values of:
-
188 million EUR yearly with a fixed interest rate of 3.4375%
-
125.5 million EUR yearly with a fixed interest rate of 3.162%.
The micro fair value hedges were closed due to inefficiency reasons, one in December 2023 and the other
one in January 2024.
7. Derivatives and other financial instruments held for trading (continued)
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
47
All hedging relationships have quarterly settlement periods for both fixed and variable legs. The macro
hedging relationships were effective throughout the reporting period.
Main source of hedge ineffectiveness that might be expected to affect the hedging relationships is the
amortization model of current accounts. However, the amortization of the hedged item is based on a
behavioral ALM model that is reviewed/back tested on a yearly basis. To avoid inefficiency generated by
the underestimated amortization of the current accounts, maximum 70% of the current accounts portfolio
per each time band is designated as hedged item.
The hedging relationship were designated on the date of the IRS origination. At that date, the theoretical
derivative was built as to match the interest rate behavior of the current accounts, the hedged item (i.e. a
spread was added to the variable leg so that the fair value of the theoretical swap on the designation date to
be zero). Consequently, no other major sources of ineffectiveness were identified.
As of December 31, 2024, the accumulated amount of fair value hedge adjustments on the current accounts
hedged item are included in the carrying amount and presented in due to customer line in the statement of
financial position and amounts to -112,338. The change in value of the hedged item during the period is
explained by the cumulated effect of a loss from revaluation in amount of 71,246 and of the exchange rate
evolution effect in amount of -89.
As at December 31, 2023, the accumulated amount of fair value hedge adjustments on the current accounts
hedged item are included in the carrying amount and presented in due to customer line in the statement of
financial position and amounts to -183,496. The change in value of the hedged item during the period is
explained by the cumulated effect of a loss from revaluation in amount of 117,608 and of the exchange rate
evolution effect in amount of 1,099.
The fair value of hedging instrument for Group and Bank was the following:
December 31, 2024 | |||
Assets | Liabilities | Notional (total) | |
Interest rate swaps | - | 118,645 | 1,827,312 |
December 31, 2023 | |||
Assets | Liabilities | Notional (total) | |
Interest rate swaps | - | 213,462 | 2,927,925 |
The summary of the transactions and impact in statement of financial position and statement of profit or
loss is presented below for year 2024 and 2023:
7. Derivatives and other financial instruments held for trading (continued)
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
48
The split on maturities for the nominal value for the hedging instruments is as follows:
7. Derivatives and other financial instruments held for trading (continued)
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
49
Forwards
Forward contracts are contractual agreements to buy or sell a specified financial instrument at a specific
price and date in the future. Forwards are customised contracts transacted in the over-the-counter market.
Swaps
Swaps are contractual agreements between two parties to exchange streams of payments over time based
on specified notional amounts, in relation to movements in a specified underlying index such as an interest
rate, foreign currency rate or equity index.
Interest rate swaps relate to contracts concluded by the Bank with other financial institutions in which the
Bank either receives or pays a floating rate of interest in return for paying or receiving, respectively, a fixed
rate of interest. The payment flows are usually netted against each other, with the difference being paid by
one party to the other. In a currency swap, the Bank pays a specified amount in one currency and receives
a specified amount in another currency. Currency swaps are mostly gross settled.
Options
Options are contractual agreements that convey the right, but not the obligation, for the purchaser either to
buy or sell a specific amount of a financial instrument at a fixed price, either at a fixed future date or at any
time within a specified period. The Bank purchases and sells options in the over-the-counter markets.
Options purchased by the Bank provide the Bank with the opportunity to purchase (call options) or sell (put
options) the underlying asset at an agreed-upon value either on or before the expiration of the option.
The Bank is exposed to credit risk on purchased options only to the extent of their carrying amount, which
is their fair value. Options written by the Bank provide the purchaser the opportunity to purchase from or
sell to the Bank the underlying asset at an agreed-upon value either on or before the expiration of the option.
The options are kept to neutralize the customer deals.
Trading treasury notes
treasury notes in Bank’s portfolio are issued by the Romanian Government in RON, EUR and USD.
Trading loans/deposits (including reverse repo/repo)
interbank flow and the associated risk management, those resulting from Bank obligations as primary dealer
and from Bank position al liquidity provider.
8. Financial assets at fair value through profit or loss
Group | Bank | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Equity investments | 9,208 | 11,376 | 9,208 | 11,376 |
Total | 9,208 | 11,376 | 9,208 | 11,376 |
Equity investments
Equity investments represent shares in Romanian Commodities Exchange (Bursa de Valori Bucuresti),
National Society for Transfer of Funds and Settlements-TransFonD (Societatea Nationala de Transfer de
Fonduri si Decontari), SWIFT, Shareholders’ Register for the National Securities Commission (Depozitarul
Central S.A.), Bucharest Stock Exchange (Bursa Romana de Marfuri SA).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
50
9. Financial assets at fair value through other comprehensive income
Financial assets at fair value through other comprehensive income include treasury notes, respectively
treasury discount notes and coupon bonds issued by:
These financial assets at fair value through other comprehensive income are rated as very good according
to internal rating. As of December 31, 2024, they are classified as Stage 1 and ECL impairment allowance
amounts to 12 (December 31, 2023: 2,459).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
51
10. Financial assets at amortised cost
10.1. Loans and advances to customers
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Loans, gross | 49,506,267 | 41,736,967 | 49,114,810 | 41,311,129 |
Loans impairment | (1,801,065) | (1,689,831) | (1,762,902) | (1,675,694) |
Total | 47,705,202 | 40,047,136 | 47,351,908 | 39,635,435 |
The structure of loans is the following:
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Working capital loans | 14,078,497 | 10,208,630 | 14,078,497 | 10,208,630 |
Loans for equipment | 4,946,556 | 4,446,600 | 4,555,099 | 4,016,253 |
Trade activities financing | 1,206,331 | 1,181,285 | 1,206,331 | 1,181,285 |
Acquisition of real estate, including mortgage for individuals | 16,724,796 | 15,063,829 | 16,724,796 | 15,063,829 |
Consumer loans | 10,966,241 | 9,333,096 | 10,966,241 | 9,337,605 |
Other | 1,583,846 | 1,503,527 | 1,583,846 | 1,503,527 |
Total | 49,506,267 | 41,736,967 | 49,114,810 | 41,311,129 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
During 2024 the gross loan portfolio increased by 7,804 million RON as compared with December 31,
2023.
As of December 31, 2024 the Bank’s gross loan portfolio and movements were distributed as follows:
• Stage 1: 41,637 million RON, with a 8,717 million RON increase compared to December 31, 2023
• Stage 2: 6,285 million RON, with a 1,086 million RON decrease compared to December 31, 2023
• Stage 3: 1,137 million RON, with a 177 million RON increase compared to December 31, 2023
• POCI: 56 million RON, with 5 million RON decrease compared to December 31, 2023.
The main movements on gross exposure value are along the following dimensions:
• Stage 1 increase driven mainly by the commercial performance on both Retail and Non-Retail segment.
• The decrease in Stage 2 portfolio reflects the migrations to Stage 1, mainly observed on Retail, as a result
of credit quality evolution.
• The Stage 3 and POCI evolution is characterized by a net inflow of 467 million RON from performing
portfolios, offset by good recovery performance on already defaulted portfolios of 140 million RON and
portfolio sale and write-off in amount of 154 million RON.
As of December 31, 2024 the amortized cost of loans granted to the 20 largest corporate clients (groups of
connected borrowers) amounts to 4,479,192 (December 31, 2023: 5,071,590), while the value of letters of
guarantee and letters of credit issued in favour of these clients registered in off balance sheet amounts for
the Group and Bank to 4,840,044 (December 31, 2023: 5,248,249).
BRD-Groupe Société Générale and International Finance Corporation (“IFC”), a member of the World
Bank Group, have closed in Q1 2024 a synthetic significant risk transfer (SRT) transaction that will free up
capital for BRD. The transaction was closed between BRD and IFC on a reference loan portfolio of EUR
700 million, being representative of BRD core corporate activities with good diversification across
industries, and product types. For this transaction BRD purchased a EUR 105 million financial guarantee
which takes the form of a bilateral unfunded financial guarantee between IFC and BRD.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
52
10. Financial assets at amortised cost (continued)
10.1. Loans and advances to customers (continued)
Impairment allowance movement
Group | |||||
Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2024 | 142,904 | 443,058 | 578,818 | 4,006 | 1,168,786 |
New assets originated or purchased | 136,362 | 25,467 | 14,712 | 5 | 176,546 |
Assets derecognised or repaid (excluding write offs) | (26,818) | (42,906) | (128,523) | (418) | (198,665) |
Net provision movement for assets that did not change | (122,160) | (22,793) | 2,283 | 1,555 | (141,115) |
Movements due to change in classification | (16,487) | (1,681) | 296,003 | (27) | 277,808 |
Amounts written off | - | - | (56,324) | (1,014) | (57,338) |
Other adjustments | (2) | (9) | (399) | (0) | (410) |
Impairment allowance as at 31 December 2024 | 113,799 | 401,136 | 706,570 | 4,107 | 1,225,612 |
Non-Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2024 | 277,111 | 68,501 | 151,877 | 23,557 | 521,046 |
New assets originated or purchased | 172,210 | 18,040 | 4,496 | - | 194,746 |
Assets derecognised or repaid (excluding write offs) | (115,435) | (13,941) | (27,507) | (203) | (157,086) |
Net provision movement for assets that did not change | (35,341) | (7,172) | 6,949 | 1,857 | (33,707) |
Movements due to change in classification | (1,748) | (7,269) | 60,281 | (1,191) | 50,073 |
Amounts written off | - | - | (790) | (0) | (790) |
Other adjustments | 106 | 19 | 1,048 | (3) | 1,170 |
Impairment allowance as at 31 December 2024 | 296,903 | 58,178 | 196,354 | 24,017 | 575,452 |
Total | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2024 | 420,015 | 511,559 | 730,694 | 27,563 | 1,689,831 |
New assets originated or purchased | 308,572 | 43,507 | 19,208 | 5 | 371,292 |
Assets derecognised or repaid (excluding write offs) | (142,253) | (56,848) | (156,030) | (621) | (355,751) |
Net provision movement for assets that did not change | (157,501) | (29,965) | 9,231 | 3,412 | (174,823) |
Movements due to change in classification | (18,235) | (8,950) | 356,284 | (1,218) | 327,881 |
Amounts written off | - | - | (57,115) | (1,014) | (58,129) |
Other adjustments | 103 | 13 | 651 | (2) | 765 |
Impairment allowance as at 31 December 2024 | 410,701 | 459,316 | 902,923 | 28,124 | 1,801,065 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
53
10. Financial assets at amortised cost (continued)
10.1. Loans and advances to customers (continued)
Impairment allowance movement (continued)
Bank | |||||
Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2024 | 142,207 | 440,568 | 572,290 | 4,005 | 1,159,070 |
New assets originated or purchased | 136,278 | 24,664 | 14,095 | 6 | 175,043 |
Assets derecognised or repaid (excluding write offs) | (26,770) | (42,876) | (127,823) | (418) | (197,887) |
Net provision movement for assets that did not change | (122,059) | (25,045) | (5,065) | 1,555 | (150,614) |
Movements due to change in classification | (16,043) | (1,641) | 295,519 | (27) | 277,808 |
Amounts written off | - | - | (56,324) | (1,014) | (57,338) |
Other adjustments | (2) | (9) | (1) | (0) | (12) |
Impairment allowance as at 31 December 2024 | 113,611 | 395,661 | 692,691 | 4,107 | 1,206,070 |
Non-Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2024 | 276,311 | 66,110 | 150,647 | 23,557 | 516,625 |
New assets originated or purchased | 171,894 | 17,803 | 3,853 | - | 193,550 |
Assets derecognised or repaid (excluding write offs) | (115,413) | (13,675) | (27,427) | (203) | (156,718) |
Net provision movement for assets that did not change | (34,476) | (7,170) | (6,891) | 1,857 | (46,680) |
Movements due to change in classification | (2,194) | (6,448) | 59,906 | (1,191) | 50,073 |
Amounts written off | - | - | (790) | (0) | (790) |
Other adjustments | 106 | 19 | 651 | (3) | 773 |
Impairment allowance as at 31 December 2024 | 296,228 | 56,639 | 179,949 | 24,017 | 556,833 |
Total | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2024 | 418,518 | 506,677 | 722,936 | 27,562 | 1,675,694 |
New assets originated or purchased | 308,171 | 42,466 | 17,948 | 6 | 368,592 |
Assets derecognised or repaid (excluding write offs) | (142,183) | (56,551) | (155,251) | (621) | (354,605) |
Net provision movement for assets that did not change | (156,535) | (32,215) | (11,956) | 3,412 | (197,294) |
Movements due to change in classification | (18,237) | (8,089) | 355,426 | (1,218) | 327,882 |
Amounts written off | - | - | (57,115) | (1,014) | (58,129) |
Other adjustments | 104 | 12 | 652 | (3) | 764 |
Impairment allowance as at 31 December 2024 | 409,838 | 452,300 | 872,640 | 28,124 | 1,762,902 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
54
10. Financial assets at amortised cost (continued)
10.1. Loans and advances to customers (continued)
Impairment allowance movement (continued)
Group | |||||
Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2023 | 135,308 | 505,549 | 584,804 | 3,219 | 1,228,880 |
New assets originated or purchased | 117,579 | 29,159 | 13,802 | 8 | 160,548 |
Assets derecognised or repaid (excluding write offs) | (18,907) | (41,392) | (130,282) | (587) | (191,168) |
Net provision movement for assets that did not change | (73,246) | (32,671) | (13,026) | 1,548 | (117,394) |
Movements due to change in classification | (13,760) | (15,400) | 193,383 | 274 | 164,497 |
Amounts written off | - | - | (54,773) | (459) | (55,232) |
Other adjustments | (4,071) | (2,187) | (15,092) | 3 | (21,347) |
Impairment allowance as at 31 December 2023 | 142,905 | 443,058 | 578,816 | 4,006 | 1,168,785 |
Non-Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2023 | 227,980 | 86,326 | 195,865 | 21,687 | 531,858 |
New assets originated or purchased | 160,868 | 33,670 | 4,904 | - | 199,442 |
Assets derecognised or repaid (excluding write offs) | (103,024) | (26,775) | (18,177) | (0) | (147,976) |
Net provision movement for assets that did not change | (24,930) | (5,371) | (2,183) | 1,824 | (30,660) |
Movements due to change in classification | 15,406 | (19,643) | (25,115) | (73) | (29,425) |
Amounts written off | - | - | (3,043) | (1) | (3,044) |
Other adjustments | 810 | 295 | (374) | 120 | 852 |
Impairment allowance as at 31 December 2023 | 277,111 | 68,502 | 151,877 | 23,557 | 521,047 |
Total | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2023 | 363,290 | 591,875 | 780,668 | 24,906 | 1,760,739 |
New assets originated or purchased | 278,448 | 62,829 | 18,706 | 8 | 359,991 |
Assets derecognised or repaid (excluding write offs) | (121,932) | (68,167) | (148,459) | (587) | (339,145) |
Net provision movement for assets that did not change | (98,177) | (38,042) | (15,209) | 3,372 | (148,056) |
Movements due to change in classification | 1,647 | (35,043) | 168,268 | 201 | 135,073 |
Amounts written off | - | - | (57,817) | (461) | (58,278) |
Other adjustments | (3,261) | (1,892) | (15,466) | 124 | (20,495) |
Impairment allowance as at 31 December 2023 | 420,015 | 511,560 | 730,691 | 27,563 | 1,689,830 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
Line Other adjustments refers mainly to the impairment allowance for the loan portfolio of BRD Finance
SA that was reclassified into category Assets held for sale as of December 31, 2023.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
55
10. Financial assets at amortised cost (continued)
10.1. Loans and advances to customers (continued)
Impairment allowance movement (continued)
Bank | |||||
Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2023 | 123,834 | 495,526 | 546,491 | 3,219 | 1,169,070 |
New assets originated or purchased | 117,252 | 26,831 | 6,796 | 8 | 150,887 |
Assets derecognised or repaid (excluding write offs) | (18,879) | (40,929) | (130,111) | (587) | (190,506) |
Net provision movement for assets that did not change | (70,213) | (32,144) | (15,005) | 1,548 | (115,814) |
Movements due to change in classification | (9,946) | (9,409) | 218,265 | 274 | 199,184 |
Amounts written off | - | - | (54,738) | (459) | (55,197) |
Other adjustments | 158 | 694 | 591 | 2 | 1,445 |
Impairment allowance as at 31 December 2023 | 142,206 | 440,569 | 572,289 | 4,005 | 1,159,069 |
Non-Retail lending | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2023 | 227,447 | 82,792 | 194,896 | 21,687 | 526,822 |
New assets originated or purchased | 160,420 | 32,477 | 4,556 | - | 197,453 |
Assets derecognised or repaid (excluding write offs) | (102,992) | (26,492) | (18,108) | (0) | (147,592) |
Net provision movement for assets that did not change | (23,007) | (4,770) | (2,858) | 1,824 | (28,811) |
Movements due to change in classification | 13,645 | (18,181) | (24,815) | (73) | (29,424) |
Amounts written off | - | - | (3,043) | (1) | (3,044) |
Other adjustments | 798 | 284 | 19 | 120 | 1,221 |
Impairment allowance as at 31 December 2023 | 276,311 | 66,110 | 150,647 | 23,557 | 516,625 |
Total | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Impairment allowance as at 1 st January 2023 | 351,280 | 578,318 | 741,387 | 24,906 | 1,695,891 |
New assets originated or purchased | 277,672 | 59,308 | 11,352 | 8 | 348,340 |
Assets derecognised or repaid (excluding write offs) | (121,871) | (67,421) | (148,219) | (587) | (338,098) |
Net provision movement for assets that did not change | (93,219) | (36,914) | (17,863) | 3,372 | (144,624) |
Movements due to change in classification | 3,699 | (27,590) | 193,450 | 201 | 169,760 |
Amounts written off | - | - | (57,781) | (460) | (58,241) |
Other adjustments | 955 | 979 | 610 | 122 | 2,666 |
Impairment allowance as at 31 December 2023 | 418,516 | 506,680 | 722,936 | 27,562 | 1,675,694 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
56
10. Financial assets at amortised cost (continued)
10.2. Debt securities
Debt securities measured at amortised cost include bonds classified as being Hold To Collect (HTC) rated
as very good according to internal rating, municipal bonds rated as good and corporate bonds rated as good
and standard grade for both periods.
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
57
11. Finance lease receivables
The Group acts as a lessor through the subsidiary BRD Sogelease IFN SA, having in the portfolio vehicles,
equipment (industrial, agricultural) and real estate leases. The leases are denominated mainly in EUR and
RON, with transfer of ownership of the leased asset at the end of the lease term. The receivables are secured
by the underlying assets and by other collateral. The payment timing analysis of lease receivables is as
follows:
Group | ||
December 31, 2024 | December 31, 2023 | |
Gross investment in finance lease: | ||
Under 1 year | 895,858 | 786,312 |
Between 1 and 2 years | 648,965 | 543,985 |
Between 2 and 3 years | 430,520 | 357,616 |
Between 3 and 4 years | 240,327 | 195,803 |
Between 4 and 5 years | 81,452 | 67,690 |
Higher than 5 years | 3,445 | 3,074 |
2,300,567 | 1,954,480 | |
Unearned finance income | (188,291) | (168,974) |
Net investment in finance lease | 2,112,276 | 1,785,506 |
Net investment in finance lease: | ||
Under 1 year | 805,196 | 705,075 |
Between 1 and 2 years | 593,074 | 494,295 |
Between 2 and 3 years | 401,707 | 331,575 |
Between 3 and 4 years | 229,494 | 185,751 |
Between 4 and 5 years | 79,475 | 65,821 |
Higher than 5 years | 3,330 | 2,990 |
2,112,276 | 1,785,506 | |
December 31, 2024 | December 31, 2023 | |
Net investment in the lease | 2,112,276 | 1,785,506 |
Accumulated allowance for lease payments receivable | (88,801) | (93,772) |
Total | 2,023,475 | 1,691,734 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
58
11. Finance lease receivables (continued)
Impairment allowance movement
Retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Impairment allowance as at 1 st January | 2,500 | 6,945 | 25,266 | 34,711 |
New assets originated or purchased | 1,651 | 2,121 | 3,125 | 6,897 |
Assets derecognised or fully repaid | 7,165 | (2,050) | (2,271) | 2,845 |
Movements due to change | (3,490) | (2,983) | 1,063 | (5,410) |
Net movement for assets that did | (4,661) | 1,049 | 5,540 | 1,928 |
Amounts written off | (1) | (19) | (815) | (835) |
Other adjustments | (1) | (0) | (2) | (3) |
Impairment allowance as at 31 December | 3,163 | 5,063 | 31,907 | 40,133 |
Non-retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Impairment allowance as at 1 st January | 3,492 | 11,211 | 44,358 | 59,061 |
New assets originated or purchased | 2,292 | 2,432 | 3,901 | 8,625 |
Assets derecognised or fully | 4,255 | (4,820) | (1,452) | (2,016) |
Movements due to change | 1,557 | (3,055) | 811 | (688) |
Net movement for assets that did | (7,269) | 630 | (1,246) | (7,885) |
Amounts written off | - | - | (168) | (168) |
Other adjustments | (1) | (0) | (8,260) | (8,261) |
Impairment allowance as at 31 December | 4,326 | 6,398 | 37,944 | 48,668 |
Total | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Impairment allowance as at 1 st January | 5,992 | 18,156 | 69,624 | 93,772 |
New assets originated or purchased | 3,943 | 4,553 | 7,026 | 15,522 |
Assets derecognised or fully repaid | 11,420 | (6,870) | (3,723) | 828 |
Movements due to change | (1,933) | (6,038) | 1,874 | (6,097) |
Net movement for assets that did | (11,930) | 1,679 | 4,294 | (5,957) |
Amounts written off | (1) | (19) | (982) | (1,002) |
Other adjustments | (2) | 0 | (8,262) | (8,264) |
Impairment allowance as at 31 December | 7,489 | 11,461 | 69,851 | 88,801 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
59
11. Finance lease receivables (continued)
Impairment allowance movement (continued)
Retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Impairment allowance as at 1 st January | 1,873 | 7,010 | 22,726 | 31,609 |
New assets originated or purchased | 1,310 | 3,601 | 1,118 | 6,029 |
Assets derecognised or fully repaid | 3,718 | 772 | (1,749) | 2,741 |
Movements due to change | (2,567) | (3,277) | 831 | (5,014) |
Net movement for assets that did | (1,849) | (1,142) | 3,916 | 925 |
Amounts written off | (1) | (43) | (1,681) | (1,725) |
Other adjustments | 16 | 24 | 106 | 146 |
Impairment allowance as at 31 December | 2,500 | 6,945 | 25,266 | 34,712 |
Non-retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Impairment allowance as at 1 st January | 2,616 | 12,268 | 47,492 | 62,377 |
New assets originated or purchased | 1,822 | 4,921 | 1,530 | 8,273 |
Assets derecognised or fully repaid | 3,704 | (2,620) | (2,876) | (1,791) |
Movements due to change | (56) | (1,470) | 353 | (1,173) |
Net movement for assets that did | (4,628) | (1,931) | 180 | (6,379) |
Amounts written off | - | (2) | (876) | (878) |
Other adjustments | 34 | 44 | (1,445) | (1,367) |
Impairment allowance as at 31 December | 3,492 | 11,210 | 44,360 | 59,061 |
Total | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Impairment allowance as at 1 st January | 4,489 | 19,278 | 70,219 | 93,986 |
New assets originated or purchased | 3,132 | 8,522 | 2,648 | 14,302 |
Assets derecognised or fully repaid | 7,423 | (1,849) | (4,625) | 949 |
Movements due to change | (2,624) | (4,747) | 1,184 | (6,187) |
Net movement for assets that did | (6,477) | (3,073) | 4,096 | (5,453) |
Amounts written off | (1) | (45) | (2,557) | (2,603) |
Other adjustments | 50 | 68 | (1,339) | (1,221) |
Impairment allowance as at 31 December | 5,992 | 18,155 | 69,626 | 93,773 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
60
Property, plant and equipment
4,265
7,106
4,265
7,106
Financial assets - Investments BRD Pensii
6,737
-
4,648
-
Financial assets - Loans and advances to customers
BRD Finance
-
209,886
-
-
Total
11,002
216,992
8,913
7,106
Group
Bank
12. Assets held for sale
The category Property, plant and equipment represents mainly buildings classified as held for sale with a
gross value of 5,563 and a provision of 1,298 as of December 31, 2024 (gross value of 8,758 and 1,652
provision allowance as of December 31, 2023).
As of December 31, 2023 the BRD Finance SA has entered into a process for selling its entire loan portfolio,
which meets the criteria in IFRS 5 “Non-current assets held for sale and discontinued operations”, for
classification as non-current asset held for sale. The portfolio consists of Retail consumer unsecured loans.
On January 26, 2024 the BRD Finance SA Board of Directors approved the sale of the entire loan portfolio
to a third party and the transfer of assets took place in July 2024.
In May 2024 it was signed the Business Transfer Agreement and Purchase Sale Agreement for the sale of
investment in associate BRD Societate de Administrare a Fondurilor de Pensii Private SA including Pillar
2 and 3 Pension Funds to a third party. BRD–Groupe Société Générale decided to reclassify the investment
from Investments in associates into Assets held for sale.
13. Investments in subsidiaries
Subsidiaries | December 31, 2023 | Other decreases | December 31, 2024 | |
BRD Sogelease IFN SA | 99.98% | 11,558 | - | 11,558 |
BRD Asset Management SAI SA | 99.98% | 4,321 | - | 4,321 |
BRD Finance SA | 49.00% | 53,019 | 13,125 | 39,894 |
68,898 | 13,125 | 55,773 | ||
Subsidiaries | % | December 31, 2022 | December 31, 2023 |
BRD Sogelease IFN SA | 99.98% | 11,558 | 11,558 |
BRD Asset Management SAI SA | 99.98% | 4,321 | 4,321 |
BRD Finance IFN SA | 49.00% | 53,019 | 53,019 |
68,898 | 68,898 |
For BRD Finance SA subsidiary please see explanatory details in Note 2 b) Basis for consolidation.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
61
13. Investments in subsidiaries (continued)
The subsidiaries’ summary of financial position and income statement as of December 31, 2024 are as follows:
December 31, 2024 | % | Current assets | Non-current assets | Net assets | % of net assets | Total assets | Current liabilities | Non-current liabilities | Total liabilities | Revenue | Net profit/(loss) |
Subsidiaries | |||||||||||
BRD Sogelease IFN SA | 99.98% | 1,189,459 | 1,497,141 | 311,110 | n/a | 2,686,600 | 865,199 | 1,510,291 | 2,375,490 | 193,941 | 31,057 |
BRD Finance SA | 49.00% | 104,675 | 171 | 97,664 | n/a | 104,846 | 7,182 | - | 7,182 | (622) | (1,242) |
BRD Asset Management SAI SA | 99.98% | 3,610 | 38,028 | 32,125 | n/a | 41,638 | 1,902 | 7,610 | 9,512 | 48,685 | 8,861 |
The subsidiaries’ summary of financial position and income statement as of December 31, 2023 are as follows:
December 31, 2023 | % | Current assets | Non-current assets | Net assets | % of net assets | Total assets | Current liabilities | Non-current liabilities | Total liabilities | Revenue | Net profit/(loss) |
Subsidiaries | |||||||||||
BRD Sogelease IFN SA | 99.98% | 1,156,014 | 1,253,515 | 280,046 | n/a | 2,409,529 | 754,203 | 1,375,280 | 2,129,483 | 158,454 | 50,010 |
BRD Finance IFN SA | 49.00% | 132,476 | 179,845 | 133,871 | n/a | 312,321 | 129,875 | 48,575 | 178,450 | 76,800 | 31,858 |
BRD Asset Management SAI SA | 99.98% | 9,522 | 31,874 | 24,673 | n/a | 41,396 | 3,354 | 13,370 | 16,724 | 32,324 | 1,300 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
62
14. Investments in associates and joint ventures
Group | |||||
Associates | % | December 31, 2023 | Reclassifications in assets held for sale | Increase / (decrease) in net assets | December 31, 2024 |
BRD Asigurari de Viata SA | 49.00% | 33,099 | - | 7,663 | 40,762 |
BRD Fond de Pensii S.A. | 26.95% | 6,069 | 6,737 | 668 | (0) |
Biroul de Credit S.A. | 16.38% | 4,125 | - | 281 | 4,406 |
BRD Sogelease Asset Rental SRL | 20.00% | 2,569 | - | 117 | 2,686 |
45,862 | 6,737 | 8,729 | 47,854 | ||
Joint ventures | |||||
CIT One SA | 33.33% | 19,021 | - | 6,509 | 25,530 |
Total associates | 64,883 | 6,737 | 15,238 | 73,384 | |
Group | |||||
Associates | % | December 31, 2022 | Disposals | Increase / (decrease) in net assets | December 31, 2023 |
BRD Asigurari de Viata SA | 49.00% | 33,966 | - | (867) | 33,099 |
BRD Fond de Pensii S.A. | 26.95% | 6,589 | - | (520) | 6,069 |
Fondul de Garantare a Creditului Rural | 33.33% | 19,482 | 19,429 | (53) | (0) |
ALD Automotive | 20.00% | 34,328 | 33,721 | (607) | 0 |
Biroul de Credit S.A. | 16.38% | 3,673 | - | 452 | 4,125 |
BRD Sogelease Asset Rental SRL | 20.00% | 1,979 | - | 590 | 2,569 |
100,017 | 53,150 | (1,005) | 45,862 | ||
Joint ventures | |||||
CIT One SA | 33.33% | 13,653 | - | 5,368 | 19,021 |
Total associates | 113,670 | 53,150 | 4,363 | 64,883 |
Bank | ||||
Associates | % | December 31, 2023 | Reclassifications in assets held for sale | December 31, 2024 |
BRD Asigurari de Viata SA | 49.00% | 17,697 | - | 17,697 |
BRD Fond de Pensii S.A. | 26.95% | 4,647 | 4,647 | - |
Biroul de Credit S.A. | 16.38% | 729 | - | 729 |
23,073 | 4,647 | 18,426 | ||
Joint ventures | ||||
CIT One SA | 33.33% | 11,900 | - | 11,900 |
Total associates | 34,973 | 4,647 | 30,326 | |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
63
14. Investments in associates and joint ventures (continued)
Bank | ||||
Associates | % | December 31, 2022 | Disposals | December 31, 2023 |
BRD Asigurari de Viata SA | 49.00% | 17,697 | - | 17,697 |
BRD Fond de Pensii S.A. | 26.95% | 4,647 | - | 4,647 |
Fondul de Garantare a Creditului Rural | 33.33% | 14,220 | 14,220 | - |
ALD Automotive | 20.00% | 11,873 | 11,873 | - |
Biroul de Credit S.A. | 16.38% | 729 | - | 729 |
49,166 | 26,093 | 23,073 | ||
Joint ventures | ||||
CIT One SA | 33.33% | 11,900 | - | 11,900 |
Total associates | 61,066 | 26,093 | 34,973 | |
Disposals during 2023
The holding percentage in associate Biroul de Credit S.A. is 16.38%, so below 20%, but the management
of the Bank considers the Bank has a significant influence by having members in Board of Directors of
Biroul de Credit S.A.
In July 2023 the Bank and Group sold the investment in associate Fondul de Garantare a Creditului Rural
and as a condition precedent to the sale the dividends accumulated over the years and for the year 2022
were distributed to the shareholders. The sale of the participation was reflected also in the Statement of
cash flow and in Note 2 b).
In November 2023 the Bank and Group sold for a price of 33,721 the investment in associate ALD
Automotive SRL within the Groupe Société Générale as a result of the reorganization after the acquisition
of Lease Plan at Groupe Société Générale level.
Additionally, the Bank and Group did not participate to the increase of the share capital of BRD Societate
de Administrare a Fondurilor de Pensii Private in July 2023 and therefore the ownership percentage was
reduced from 49% to 26.95% following the approval from ONRC in October 2023.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
64
14. Investments in associates and joint ventures (continued)
The associates and joint ventures summary of financial position and income statement as of December 31, 2024 are as follows:
December 31, 2024 | % | Current assets | Non-current assets | Net assets | % of net assets | Total assets | Current liabilities | Non-current liabilities | Total liabilities | Revenue | Net profit/(loss) |
Associates | |||||||||||
BRD Asigurari de Viata SA | 49.00% | 829,772 | 168,665 | 83,188 | 40,762 | 998,437 | 148,186 | 767,063 | 915,249 | 451,832 | 20,986 |
Biroul de Credit S.A. | 16.38% | 26,391 | 1,286 | 26,908 | 4,406 | 27,677 | 769 | - | 769 | 23,799 | 12,252 |
BRD Sogelease Asset Rental SRL | 20.00% | 11,366 | 3,238 | 13,426 | 2,685 | 14,604 | 179 | 1,000 | 1,179 | 3,944 | (232) |
CIT One SA | 33.33% | 73,795 | 84,034 | 76,593 | 25,531 | 157,830 | 46,541 | 34,696 | 81,237 | 338,290 | 18,899 |
Total | 73,384 |
The associates and joint ventures summary of financial position and income statement as of December 31, 2023 are as follows:
December 31, 2023 | % | Current assets | Non-current assets | Net assets | % of net assets | Total assets | Current liabilities | Non-current liabilities | Total liabilities | Revenue | Net profit/(loss) |
Associates | |||||||||||
BRD Asigurari de Viata SA | 49.00% | 728,331 | 147,962 | 67,558 | 33,099 | 876,293 | 148,540 | 660,195 | 808,735 | 404,142 | 21,017 |
Biroul de Credit S.A. | 16.38% | 23,631 | 2,160 | 25,191 | 4,125 | 25,791 | 600 | - | 600 | 19,574 | 10,534 |
BRD Fond de Pensii S.A. | 26.95% | 107,119 | 1,405 | 22,519 | 6,069 | 108,524 | 906 | 85,098 | 86,004 | 19,258 | (14,705) |
BRD Sogelease Asset Rental SRL | 20.00% | 10,002 | 6,203 | 12,841 | 2,569 | 16,205 | 810 | 2,554 | 3,364 | 7,598 | (2,924) |
CIT One SA | 33.33% | 63,782 | 83,087 | 57,066 | 19,021 | 146,869 | 40,178 | 49,625 | 89,803 | 278,443 | 14,836 |
Total | 64,883 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
65
14. Investments in associates and joint ventures (continued)
The joint ventures’ summary of financial position and income statement is as follows:
Joint ventures | December 31, 2024 | December 31, 2023 | |
CIT One S.A. | |||
% | 33.33% | 33.33% | |
Current assets | 73,795 | 63,782 | |
Non-current assets | 84,034 | 83,087 | |
Net assets | 76,593 | 57,066 | |
% of net assets | 25,531 | 19,019 | |
Total assets | 157,829 | 146,869 | |
Current liabilities | 46,541 | 40,178 | |
Non-current liabilities | 34,696 | 49,625 | |
Total liabilities | 81,237 | 89,803 | |
Revenue | 338,290 | 278,443 | |
Net profit/(loss) | 18,899 | 14,836 | |
Cash and cash equivalents | 24,778 | 30,399 | |
Current financial liabilities | 8,393 | 8,567 | |
Depreciation and amortisation | 18,997 | 18,136 | |
Interest income | 723 | 387 | |
Interest expense | 2,523 | 4,093 | |
Income tax expense or income | 5,770 | 3,040 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
66
15. Property, plant and equipment
Group | |||||||
Land & Buildings | Materials and other assets | Construction in progress | Right of use | Total PPE | Investment properties | ||
Cost: | |||||||
as of December 31, 2022 | 1,279,432 | 289,437 | 459,660 | 99,487 | 486,018 | 2,614,034 | 37,013 |
Additions | - | 222 | 4 | 148,812 | 28,383 | 177,421 | - |
Transfers | 44,985 | 43,385 | 71,843 | (157,498) | - | 2,715 | (439) |
Disposals and other movements | (20,459) | (28,674) | (61,356) | (1,847) | (52,033) | (164,369) | (1,068) |
as of December 31, 2023 | 1,303,958 | 304,370 | 470,151 | 88,954 | 462,368 | 2,629,801 | 35,506 |
Additions | - | 648 | 4 | 147,890 | 77,838 | 226,380 | - |
Transfers | 48,392 | 37,152 | 39,777 | (121,930) | - | 3,391 | (3,470) |
Transfers into/from inventory | (756) | - | - | - | - | (756) | (15) |
Disposals and other movements | (85,965) | (42,399) | (45,995) | (6,485) | (43,738) | (224,582) | (14,225) |
as of December 31, 2024 | 1,265,629 | 299,771 | 463,937 | 108,429 | 496,468 | 2,634,234 | 17,796 |
Depreciation and impairment: | |||||||
as of December 31, 2022 | (801,687) | (227,673) | (368,819) | (1,954) | (150,038) | (1,550,171) | (21,510) |
Depreciation | (35,156) | (31,940) | (28,449) | - | (81,420) | (176,965) | (455) |
Impairment | 2,054 | - | (551) | 1,954 | - | 3,457 | 75 |
Disposals and other movements | 15,063 | 28,597 | 57,984 | - | 66,392 | 168,036 | 658 |
Transfers | (244) | - | (18) | - | - | (262) | 262 |
as of December 31, 2023 | (819,970) | (231,016) | (339,853) | - | (165,066) | (1,555,905) | (20,970) |
Depreciation | (38,944) | (35,275) | (34,801) | - | (77,347) | (186,367) | (442) |
Impairment | 19,071 | - | (65) | - | - | 19,006 | 142 |
Disposals and other movements | 51,261 | 42,402 | 43,217 | - | 63,714 | 200,594 | 11,788 |
Transfers | (1,782) | (5) | 5 | - | - | (1,782) | 1,782 |
as of December 31, 2024 | (790,364) | (223,894) | (331,497) | - | (178,699) | (1,524,454) | (7,700) |
Net book value: | |||||||
as of December 31, 2022 | 477,745 | 61,764 | 90,841 | 97,533 | 335,980 | 1,063,863 | 15,503 |
as of December 31, 2023 | 483,988 | 73,354 | 130,298 | 88,954 | 297,302 | 1,073,896 | 14,536 |
as of December 31, 2024 | 475,265 | 75,877 | 132,440 | 108,429 | 317,769 | 1,109,780 | 10,096 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
67
15. Property, plant and equipment (continued)
Bank | |||||||
Land & Buildings | Materials and other assets | Construction in progress | Right of use | Total PPE | Investment properties | ||
Cost: | |||||||
as of December 31, 2022 | 1,269,433 | 280,540 | 459,394 | 99,485 | 468,218 | 2,577,070 | 37,013 |
Additions | - | - | - | 148,812 | 19,168 | 167,980 | - |
Transfers | 44,985 | 43,385 | 71,843 | (157,498) | - | 2,715 | (439) |
Disposals and other movements | (20,459) | (28,185) | (61,348) | (1,846) | (48,738) | (160,576) | (1,069) |
as of December 31, 2023 | 1,293,959 | 295,740 | 469,889 | 88,953 | 438,648 | 2,587,189 | 35,505 |
Additions | - | - | - | 147,890 | 77,052 | 224,942 | - |
Transfers | 48,392 | 37,152 | 39,777 | (121,930) | - | 3,391 | (3,470) |
Transfers into/from inventory | (756) | - | - | - | - | (756) | (15) |
Disposals and other movements | (85,965) | (38,275) | (45,911) | (6,485) | (31,233) | (207,869) | (14,225) |
as of December 31, 2024 | 1,255,630 | 294,617 | 463,755 | 108,428 | 484,467 | 2,606,897 | 17,795 |
Depreciation and impairment: | |||||||
as of December 31, 2022 | (796,075) | (219,883) | (368,625) | (1,954) | (144,089) | (1,530,626) | (21,510) |
Depreciation | (34,919) | (31,271) | (28,435) | - | (78,618) | (173,243) | (455) |
Impairment | 2,054 | - | (551) | 1,954 | - | 3,457 | 75 |
Disposals and other movements | 15,061 | 28,177 | 57,976 | - | 63,509 | 164,723 | 659 |
Transfers | (244) | - | (18) | - | - | (262) | 262 |
as of December 31, 2023 | (814,123) | (222,977) | (339,653) | - | (159,198) | (1,535,951) | (20,969) |
Depreciation | (38,712) | (34,728) | (34,786) | - | (75,087) | (183,313) | (441) |
Impairment | 19,071 | - | (65) | - | - | 19,006 | 142 |
Disposals and other movements | 51,261 | 38,271 | 43,134 | - | 62,708 | 195,374 | 11,787 |
Transfers | (1,782) | (5) | 5 | - | - | (1,782) | 1,782 |
as of December 31, 2024 | (784,285) | (219,439) | (331,365) | - | (171,577) | (1,506,666) | (7,699) |
Net book value: | |||||||
as of December 31, 2022 | 473,358 | 60,657 | 90,769 | 97,531 | 324,129 | 1,046,444 | 15,503 |
as of December 31, 2023 | 479,836 | 72,763 | 130,236 | 88,953 | 279,450 | 1,051,238 | 14,536 |
as of December 31, 2024 | 471,345 | 75,178 | 132,390 | 108,428 | 312,890 | 1,100,231 | 10,096 |
The Group and Bank holds investment property as a consequence of the ongoing rationalization of its Retail branch network. Investment properties comprise
several commercial properties that are leased to third parties. The investment properties have a fair value of 9,721 as of December 31, 2024 (December 31,
2023: 12,738). The fair value has been determined based on a valuation issued by an independent valuer in 2025. Rental income from investment property is
in amount of 1,520 (December 31, 2023: 2,406).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
68
15. Property, plant and equipment (continued)
Group
Right-of-use assets
Land & Buildings
IT Office equipments
Cars and other assets
Total
as of January 1, 2024
275,244
10,817
11,241
297,302
Additions
65,889
5,968
5,981
77,838
Depreciation expense
(67,132)
(3,639)
(6,576)
(77,347)
Disposals and other decreases
(17,225)
-
(120)
(17,345)
Contractual changes
36,994
-
327
37,321
as of December 31, 2024
293,770
13,146
10,853
317,769
Lease liabilities
as of January 1, 2024
308,752
Additions
77,838
Disposals and other decreases
(29,939)
Other movements (FX, other contractual changes)
49,789
Interest expense
7,910
Payments
(85,044)
as of December 31, 2024
329,306
Bank
Right-of-use assets
Land & Buildings
IT Office equipments
Cars and other assets
Total
as of January 1, 2024
259,990
9,284
10,176
279,450
Additions
65,817
5,968
5,267
77,052
Depreciation expense
(65,934)
(3,639)
(5,514)
(75,087)
Disposals and other decreases
(5,519)
-
-
(5,519)
Contractual changes
36,994
-
-
36,994
as of December 31, 2024
291,348
11,613
9,929
312,890
Lease liabilities
as of January 1, 2024
290,502
Additions
77,052
Disposals and other decreases
(17,503)
Other movements (FX, other contractual changes)
49,481
Interest expense
7,744
Payments
(83,080)
as of December 31, 2024
324,196
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
69
15. Property, plant and equipment (continued)
Group | Right-of-use assets | |||
Land & Buildings | IT | Cars and other assets | Total | |
as of January 1, 2023 | 316,560 | 11,031 | 8,389 | 335,980 |
Additions | 15,838 | 3,394 | 9,151 | 28,383 |
Depreciation expense | (71,390) | (3,608) | (6,422) | (81,420) |
Disposals and other decreases | (26,242) | - | (68) | (26,310) |
Contractual changes | 40,478 | - | 191 | 40,669 |
as of December 31, 2023 | 275,244 | 10,817 | 11,241 | 297,302 |
Lease liabilities | ||||
as of January 1, 2023 | 339,746 | |||
Additions | 28,382 | |||
Disposals and other decreases | (24,059) | |||
Other movements (FX, other contractual | 43,871 | |||
Interest expense | 5,628 | |||
Payments | (84,816) | |||
as of December 31, 2023 | 308,752 | |||
Bank | Right-of-use assets | |||
Land & Buildings | IT | Cars and other assets | Total | |
as of January 1, 2023 | 305,781 | 9,498 | 8,850 | 324,129 |
Additions | 9,041 | 3,394 | 6,733 | 19,168 |
Depreciation expense | (69,603) | (3,608) | (5,407) | (78,618) |
Disposals and other decreases | (26,242) | - | - | (26,242) |
Contractual changes | 41,013 | - | - | 41,013 |
as of December 31, 2023 | 259,990 | 9,284 | 10,176 | 279,450 |
Lease liabilities | ||||
as of January 1, 2023 | 327,522 | |||
Additions | 19,168 | |||
Disposals and other decreases | (23,259) | |||
Other movements (FX, other contractual | 43,763 | |||
Interest expense | 5,448 | |||
Payments | (82,140) | |||
as of December 31, 2023 | 290,502 | |||
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
70
16. Intangible assets
The balance of the intangible assets as of December 31 , 2024 and December 31, 2023 represents mainly
software, intangibles in progress and capitalization of internal IT effort on projects.
Group | Bank | |
Cost: | ||
as of December 31, 2022 | 988,339 | 961,050 |
Additions | 176,567 | 174,911 |
Disposals | (80,042) | (76,684) |
Transfers | (2,275) | (2,275) |
as of December 31, 2023 | 1,082,589 | 1,057,002 |
Additions | 194,658 | 191,803 |
Disposals | (6,365) | (785) |
Transfers | 74 | 74 |
as of December 31, 2024 | 1,270,956 | 1,248,094 |
Amortization: | ||
as of December 31, 2022 | (580,852) | (555,384) |
Amortization expense | (74,916) | (74,082) |
Disposals | 79,137 | 76,685 |
as of December 31, 2023 | (576,631) | (552,781) |
Amortization expense | (88,715) | (87,532) |
Disposals | 5,132 | 239 |
as of December 31, 2024 | (660,214) | (640,074) |
Net book value: | ||
as of December 31, 2022 | 407,487 | 405,666 |
as of December 31, 2023 | 505,958 | 504,221 |
as of December 31, 2024 | 610,742 | 608,020 |
17. Goodwill
Goodwill represents the excess of the acquisition cost over the fair value of net identifiable assets
transferred from Société Générale Bucharest to the Bank in 1999.
Following the acquisition, the branch become the present Sucursala Mari Clienti Corporativi (“SMCC”) –
the branch dedicated to large significant clients, most of them taken over from the former Société Générale
Bucharest.
As of December 31, 2024, the branch had a number of 4,638 active customers (2023: 4,193), with loans
representing approximately 16% from total loans managed by the network (2023: 16%) and with deposits
representing about 12% of networks’ deposits (2023: 13%). Most of the SMCC Non-Retail clients are large
multinational and national customers.
Considering the stable base of clients and the contribution to the Bank’s net banking income, the branch
which generated the goodwill is considered profitable. The goodwill is tested annually for impairment and
there is no need for an impairment adjustment.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
71
18. Other financial assets
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Sundry receivables | 399,162 | 402,789 | 366,516 | 371,286 |
ECL allowance | (142,970) | (92,192) | (127,017) | (78,030) |
Total financial | 256,192 | 310,598 | 239,499 | 293,256 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
The sundry receivables balances include various commissions, sundry debtors and are net of impairment
allowance.
The movement in impairment allowance for sundry debtors is presented below:
Group | |
Sundry receivables | Total (Stage3) |
Impairment allowance as at January | 92,192 |
Additional provisions | 72,371 |
Reversals of provisions | (15,524) |
Receivables written off | (6,031) |
Foreign exchange differences | (38) |
Impairment allowance as at December | 142,970 |
Total (Stage3) | |
Impairment allowance as at 1 st January | 200,209 |
Additional provisions | 75,359 |
Reversals of provisions | (10,248) |
Receivables written off | (173,246) |
Foreign exchange differences | 118 |
Impairment allowance as at 31 December | 92,192 |
Bank | |
Sundry receivables | Total (Stage3) |
Impairment allowance as at January | 78,030 |
Additional provisions | 67,090 |
Reversals of provisions | (12,275) |
Receivables written off | (5,940) |
Foreign exchange differences | 112 |
Impairment allowance as at December | 127,017 |
Total (Stage3) | |
Impairment allowance as at 1 st January | 190,512 |
Additional provisions | 70,073 |
Reversals of provisions | (9,465) |
Receivables written off | (173,208) |
Foreign exchange differences | 118 |
Impairment allowance as at 31 December | 78,030 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
72
December 31, 2024
December 31, 2023
December 31, 2024
December 31, 2023
Current accounts
32,156,179
32,769,949
32,162,466
32,829,677
Transitory amounts
470,001
483,621
470,413
484,071
Other amounts due
502,022
647,303
502,022
647,303
Demand deposits
7,313,558
6,685,117
7,400,614
6,694,919
Total
40,441,761
40,585,990
40,535,516
40,655,969
BankGroup
19. Other non-financial assets
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Advances to suppliers | ||||
Prepaid expenses | ||||
Repossessed assets | ||||
Other assets | ||||
Total non-financial | ||||
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
20. Due to banks
Group | Bank | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Demand deposits | 587,996 | 680,497 | 587,996 | 680,497 |
Repo | 560,720 | 460,500 | 560,720 | 460,500 |
Term deposits | 328,577 | 5,543 | 328,577 | 5,543 |
Due to banks | 1,477,293 | 1,146,540 | 1,477,293 | 1,146,540 |
21. Due to customers
Group | Bank | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Demand deposits and current accounts | 40,441,761 | 40,585,990 | 40,535,516 | 40,655,969 |
Term deposits | 27,493,381 | 21,819,619 | 27,679,971 | 21,985,869 |
Total due to customers | 67,935,142 | 62,405,609 | 68,215,487 | 62,641,838 |
The category “Demand deposits and current accounts” includes the following elements:
:
22. Borrowed funds
Group | Bank | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Borrowings from related parties | 6,083,648 | 6,648,564 | 4,233,818 | 4,833,476 |
Borrowings from international institutions | 471,267 | 355,798 | 287 | 749 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
73
Total | 6,554,915 | 7,004,362 | 4,234,105 | 4,834,225 |
22. Borrowed funds (continued)
Borrowings from related parties include as at December 31, 2024 at Bank level four senior non-preferred
loans from Société Générale in amount of:
●
450 million EUR, with a fixed interest rate of 4.26% and an initial term of three years (received in
December 2023)
• 100 million EUR, with a fixed interest rate of 4.68% and an initial term of seven years (received in
December 2023)
●
150 million EUR, with a fixed interest rate of 4.78% and an initial term of eight years (received in
December 2023)
●
150 million EUR, with a fixed interest rate of 4.79% and an initial term of six years (received in June
2024).
Other funds borrowed from related parties at Group level are in total amount of 1,849,830 as at December
31, 2024 (1,815,088 as at December 31, 2023) and are senior unsecured and used in the normal course of
business.
The movements in borrowed funds are as follows:
:
23. Subordinated debts
Two subordinated debts were received from Société Générale in amount of:
●
100 million EUR with an interest rate of EURIBOR 3M+1.98% and an initial term of ten years
(received in December 2021)
●
150 million EUR with an interest rate of EURIBOR 3M+4.31% and an initial term of ten years
(received in June 2022).
The movements in subordinated debts are as follows:
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
74
:
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
75
24. Provisions
The line Provisions includes provisions for financial guarantee and loan commitments and other provisions.
24.1
Financial guarantees and loan commitments provisions movement
Group | Retail lending | |||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2024 | 5,580 | 3,145 | 4,055 | 12,780 |
New commitments originated or purchased | 10,186 | 2,309 | 710 | 13,205 |
Commitments derecognised or transferred into assets | (919) | (899) | (1,037) | (2,855) |
Net provision movement not resulting from changes | (9,109) | (718) | (554) | (10,381) |
Net movements due to change in classification | (750) | (412) | 1,977 | 815 |
Provision as at 31 December 2024 | 4,988 | 3,425 | 5,151 | 13,564 |
Non-Retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2024 | 148,815 | 19,353 | 119,277 | 287,445 |
New commitments originated or purchased | 143,943 | 20,782 | 1,990 | 166,715 |
Commitments derecognised or transferred into assets | (49,337) | (8,943) | (35,911) | (94,191) |
Net provision movement not resulting from changes | (101,356) | (4,031) | (11,131) | (116,518) |
Net movements due to change in classification | 4,390 | (5,335) | 20,176 | 19,231 |
Other adjustments | 120 | 2 | 8,351 | 8,473 |
Provision as at 31 December 2024 | 146,575 | 21,828 | 102,752 | 271,155 |
Total | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2024 | 154,394 | 22,498 | 123,333 | 300,225 |
New commitments originated or purchased | 154,129 | 23,091 | 2,700 | 179,920 |
Commitments derecognised or transferred | (50,256) | (9,842) | (36,948) | (97,046) |
Net provision movement not resulting from changes in | (110,465) | (4,749) | (11,685) | (126,899) |
Net movements due to change in classification | 3,640 | (5,747) | 22,153 | 20,046 |
Other adjustments | 120 | 2 | 8,351 | 8,473 |
Provision as at 31 December 2024 | 151,562 | 25,253 | 107,904 | 284,719 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
76
24. Provisions (continued)
24.1 Financial guarantees and loan commitments provisions movement (continued)
Bank | Retail lending | |||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2024 | 5,527 | 3,074 | 4,029 | 12,630 |
New commitments originated or purchased | 10,132 | 2,232 | 710 | 13,074 |
Commitments derecognised or transferred into assets | (867) | (827) | (1,037) | (2,731) |
Net provision movement not resulting from changes in | (9,109) | (718) | (554) | (10,381) |
Net movements due to change in classification | (751) | (412) | 1,976 | 813 |
Provision as at 31 December 2024 | 4,932 | 3,349 | 5,124 | 13,405 |
Non-Retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2024 | 148,648 | 19,196 | 127,535 | 295,379 |
New commitments originated or purchased | 143,824 | 20,637 | 1,408 | 165,869 |
Commitments derecognised or transferred into assets | (49,171) | (8,785) | (35,911) | (93,867) |
Net provision movement not resulting from changes in | (101,356) | (4,031) | (11,105) | (116,492) |
Net movements due to change in classification | 4,390 | (5,335) | 20,176 | 19,231 |
Other adjustments | 118 | 4 | 92 | 214 |
Provision as at 31 December 2024 | 146,453 | 21,686 | 102,195 | 270,334 |
Total | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2024 | 154,176 | 22,270 | 131,564 | 308,010 |
New commitments originated or purchased | 153,956 | 22,869 | 2,118 | 178,943 |
Commitments derecognised or transferred into assets | (50,038) | (9,612) | (36,948) | (96,598) |
Net provision movement not resulting from changes in | (110,465) | (4,749) | (11,659) | (126,873) |
Net movements due to change in classification | 3,639 | (5,747) | 22,152 | 20,044 |
Other adjustments | 118 | 4 | 92 | 214 |
Provision as at 31 December 2024 | 151,386 | 25,035 | 107,319 | 283,740 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
77
24. Provisions (continued)
24.1 Financial guarantees and loan commitments provisions movement (continued)
Group | Retail lending | |||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2023 | 4,594 | 4,059 | 3,281 | 11,934 |
New commitments originated or purchased | 10,463 | 2,131 | 1,519 | 14,113 |
Commitments derecognised or transferred into assets | (1,059) | (1,189) | (1,998) | (4,246) |
Net provision movement not resulting from changes in | (8,048) | (775) | (818) | (9,641) |
Net movements due to change in classification | (370) | (1,081) | 2,071 | 620 |
Provision as at 31 December 2023 | 5,580 | 3,145 | 4,055 | 12,780 |
Non-Retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2023 | 128,239 | 50,188 | 147,471 | 325,898 |
New commitments originated or purchased | 137,999 | 28,326 | 2,090 | 168,415 |
Commitments derecognised or transferred into assets | (66,634) | (23,959) | (15,846) | (106,439) |
Net provision movement not resulting from changes in | (70,698) | (6,298) | (14,298) | (91,294) |
Net movements due to change in classification | 19,764 | (28,941) | (1,807) | (10,984) |
Other adjustments | 145 | 37 | 1,667 | 1,849 |
Provision as at 31 December 2023 | 148,815 | 19,353 | 119,277 | 287,445 |
Total | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2023 | 132,833 | 54,247 | 150,753 | 337,833 |
New commitments originated or purchased | 148,462 | 30,457 | 3,609 | 182,528 |
Commitments derecognised or transferred into assets | (67,693) | (25,148) | (17,844) | (110,685) |
Net provision movement not resulting from changes in | (78,746) | (7,073) | (15,116) | (100,935) |
Net movements due to change in classification | 19,394 | (30,022) | 264 | (10,364) |
Other adjustments | 146 | 37 | 1,667 | 1,849 |
Provision as at 31 December 2023 | 154,396 | 22,498 | 123,333 | 300,226 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
78
24. Provisions (continued)
24.1 Financial guarantees and loan commitments provisions movement (continued)
Bank | Retail lending | |||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2023 | 4,562 | 3,925 | 3,282 | 11,769 |
New commitments originated or purchased | 10,414 | 2,059 | 1,492 | 13,965 |
Commitments derecognised or transferred into assets | (1,032) | (1,054) | (1,998) | (4,084) |
Net provision movement not resulting from changes in | (8,048) | (775) | (818) | (9,641) |
Net movements due to change in classification | (369) | (1,081) | 2,071 | 621 |
Provision as at 31 December 2023 | 5,527 | 3,074 | 4,029 | 12,630 |
Non-Retail | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2023 | 128,092 | 49,811 | 157,351 | 335,254 |
New commitments originated or purchased | 137,834 | 28,167 | 2,090 | 168,091 |
Commitments derecognised or transferred into assets | (66,489) | (23,580) | (15,845) | (105,914) |
Net provision movement not resulting from changes | (70,698) | (6,298) | (14,295) | (91,291) |
Net movements due to change in classification | 19,764 | (28,941) | (1,807) | (10,984) |
Other adjustments | 145 | 37 | 41 | 223 |
Provision as at 31 December 2023 | 148,648 | 19,196 | 127,535 | 295,379 |
Total | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Provision as at 1 st January 2023 | 132,654 | 53,736 | 160,633 | 347,023 |
New commitments originated or purchased | 148,248 | 30,226 | 3,582 | 182,056 |
Commitments derecognised or transferred into assets | (67,521) | (24,634) | (17,843) | (109,998) |
Net provision movement not resulting from changes in | (78,746) | (7,073) | (15,113) | (100,932) |
Net movements due to change in classification | 19,395 | (30,022) | 264 | (10,363) |
Other adjustments | 145 | 37 | 41 | 223 |
Provision as at 31 December 2023 | 154,175 | 22,270 | 131,564 | 308,009 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
79
24. Provisions (continued)
24.2 Other provisions
The Bank includes in the line Provisions: provisions for litigation in amount of 24,676 as of December 31,
2024 (11,886 as of December 31, 2023), provisions for risks related to banking activity in amount of 1,411
as of December 31, 2024 (1,418 as of December 31, 2023) and other provisions for risks and charges in
amount of 17,373 as of December 31, 2024 (12,497 as of December 31, 2023).
The Group includes in the line Provisions: provisions for litigation in amount of 30,610 as of December 31,
2024 (17,004 as of December 31, 2023), provisions for risks related to banking activity in amount of 1,411
as of December 31, 2024 (1,418 as of December 31, 2023) and other provisions for risks and charges in
amount of 17,894 as of December 31, 2024 (29,418 as of December 31, 2023).
The Bank has applied the individual assessment (case by case) for the abusive clause litigations to determine
the provision amount. The amount of the provision is reviewed periodically by the Bank based on the new
court resolutions for litigations with clients for contracts which contain allegedly abusive clauses. As at
December 2024, the Bank has recorded provisions for abusive clause litigations which are subject to an
individual litigation assessment in total amount of 9,531 (December 2023: 5,697).
The movements in provisions are as follows:
Group | TOTAL |
Carrying value as of | 55,618 |
Additional expenses | 33,621 |
Reversals of provisions | (28,662) |
Usage | (12,737) |
Carrying value as of | 47,840 |
Additional expenses | 27,462 |
Reversals of provisions | (18,173) |
Usage | (7,214) |
Carrying value as of December | 49,915 |
Bank | TOTAL |
Carrying value as of | 33,149 |
Additional expenses | 13,771 |
Reversals of provisions | (8,382) |
Usage | (12,737) |
Carrying value as of | 25,801 |
Additional expenses | 26,276 |
Reversals of provisions | (1,403) |
Usage | (7,214) |
Carrying value as of December | 43,460 |
The usage of Other provisions is mainly related to litigation and salary compensation.
25. Other financial liabilities
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Sundry creditors | 297,765 | 272,526 | 260,761 | 191,408 |
Dividends payable | - | 623,185 | - | 623,185 |
Creditors - Lease liabilities | 329,306 | 308,752 | 324,196 | 290,502 |
Total financial | 627,071 | 1,204,463 | 584,957 | 1,105,095 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details please refer to note 2 a).
Sundry creditors are expected to be settled in no more than twelve months after the reporting period.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
80
26. Other non-financial liabilities
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Other payables to State budget | 110,249 | 85,030 | 109,591 | 84,273 |
Deferred income | 52,269 | 51,165 | 52,269 | 51,165 |
Payables to employees | 163,980 | 187,689 | 150,882 | 166,457 |
Total non-financial | 326,498 | 323,884 | 312,742 | 301,895 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details please refer to note 2 a).
According to Law 296/2023, the Romanian Fiscal Code was amended to introduce, starting January 1st,
2024, a supplementary tax for credit institutions, i.e. the tax on turnover which is computed as follows: for
2024 and 2025 the tax is 2% from the turnover, while starting 2026 the rate is 1%. The tax is additional to
the corporate income tax, it is computed and payable on a quarterly basis and is a non-deductible expense.
The line Other payables to State budget includes the tax on turnover to be paid as of December 31, 2024 in
amount of 33,871.
Payables to employees include, among other, gross bonuses, amounting 113,739 as of December 31, 2024
(December 31, 2023: 109,120) and post-employment benefits amounting 26,355 as of December 31, 2024
(December 31, 2023: 29,389).
Post-employment benefit plan
The Group/Bank has a defined benefit plan under which the amount of benefit that an employee is entitled
to receive on retirement depends on years of service and salary. The plan covers substantially all the
employees and the benefits are unfunded. A full actuarial valuation by a qualified independent actuary is
carried out annually. During 2024, the movements in defined benefit obligation is generated by the service
cost and benefits paid, resulting in a change of obligation carrying value 26,355 as of December 31, 2024,
from 29,389 as of December 31, 2023.
Movement in defined benefits obligations
Movement in defined benefits obligations | ||
December 31, 2024 | December 31, 2023 | |
Opening defined benefit obligation | 29,389 | 19,576 |
Total service cost | 3,565 | 2,470 |
Benefits paid | (1,052) | (1,007) |
Interest cost on benefit obligation | 1,997 | 1,776 |
Past service cost | (4,688) | - |
Actuarial (gains) / losses arising from changes in demographic | (177) | - |
Actuarial (gains) / losses arising from changes in | (2,679) | 6,574 |
Closing defined benefit obligation | 26,355 | 29,389 |
Main actuarial assumptions | ||
December 31, 2024 | December 31, 2023 | |
Discount rate | 6.85% | 6.96% |
Long term inflation rate | 3.30% | 3.30% |
Average remaining working | 11 | 12 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
81
26. Other non-financial liabilities (continued)
Sensitivities on the defined benefit obligation
The results of any valuation depend upon the assumptions employed. Significant actuarial assumptions for
the determination of the defined obligation are discount rate and expected salary increase.
The sensitivity analyses below have been determined based on reasonably possible changes of the
respective assumptions occurring at the end of the reporting period, while holding all other assumptions
constant.
●
If the discount rate used were 0.5% higher, then the defined benefit obligation would be lower by
about 3.92% meaning 25,321.
●
If the discount rate used were 0.5% lower, then the defined benefit obligation would be higher by
about 4.14% meaning 27,447.
●
If the salary increase rate used were 0.5% higher, then the defined benefit obligation would be
higher by about 4.27% meaning 27,480.
The sensitivity analysis presented above may not be representative of the actual change in the defined
benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another
as some of the assumptions may be correlated. Furthermore, in presenting the above sensitivity analysis,
the present value of the defined benefit obligation has been calculated using the projected unit credit method
at the end of the reporting period, which is the same as that applied in calculating the defined benefit
obligation liability recognized in the statement of financial position. The eventual cost of providing the
benefits depends on the current future experience. Other factors such as the number of new employees
could also change the cost.
27. Share capital
The nominal share capital, as registered with the Registry of Commerce is 696,901 (2023: 696,901).
Included in the share capital there is an amount of 1,818,721 (2023: 1,818,721) representing hyperinflation
restatement surplus. Share capital as of December 31, 2024 represents 696,901,518 (2023: 696,901,518)
authorized common shares, issued and fully paid. The nominal value of each share is RON 1 (2023: RON
1). During 2024 and 2023, the Bank did not buy back any of its own shares.
The shares of the Bank are not divisible. The right of property over the shares is transmitted pursuant to the
provisions regarding the transfer of securities of the companies admitted to trading on a regulated market.
Any share entitles to one vote in the General Meeting of the Shareholders. The Bank may acquire its own
shares only with the consent of the Extraordinary General Meeting of the Shareholders, in compliance with
the law.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
82
28. Taxation
Current income tax is calculated based on the taxable income as per the tax statement derived from the
stand-alone accounts of each consolidated entity. As of December 31, 2024 the Group has a current tax
liability in total amount of 3,221 (December 31, 2023: 36,181) and a current tax asset in amount of 25,119
(December 31, 2023: 0) and at Bank level a current tax liability in total amount of 0 (December 31, 2023:
35,074) and current tax asset in amount of 24,251 (December 31, 2023: 0).
The deferred tax asset is reconciled as follows:
Group | ||||
December 31, 2024 | ||||
Temporary differences Asset / (Liability) | Consolidated Statement of Financial Position Asset / (Liability) | Consolidated Income Statement (Expense) / Income | Consolidated OCI (Expense) / Income | |
Elements generating deferred tax | ||||
Defined benefit obligation | 67,598 | (10,815) | - | (457) |
Financial assets at fair value through other comprehensive income | (1,527,564) | 244,410 | - | 18,808 |
Tangible and intangible | 75,185 | (12,030) | (11,023) | - |
Provisions and other liabilities | (539,752) | 86,360 | (8,492) | - |
Taxable items | (1,924,533) | |||
Deferred tax | 307,925 | (19,515) | 18,351 | |
Bank | ||||
December 31, 2024 | ||||
Temporary differences Asset / (Liability) | Individual Statement of Financial Position Asset / (Liability) | Individual Income Statement (Expense) / Income | Consolidated OCI (Expense) / Income | |
Elements generating deferred tax | ||||
Defined benefit obligation | 67,598 | (10,816) | - | (457) |
Financial assets at fair value through other comprehensive income | (1,527,564) | 244,409 | - | 18,808 |
Tangible and intangible | 75,185 | (12,030) | (11,008) | - |
Provisions and other liabilities | (527,752) | 84,442 | (4,490) | - |
Taxable items | (1,912,533) | |||
Deferred tax | 306,005 | (15,498) | 18,351 | |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
83
28. Taxation (continued)
Group | ||||
December 31, 2023 | ||||
Temporary differences Asset / (Liability) | Consolidated Statement of Financial Position Asset / (Liability) | Consolidated Income Statement (Expense) / Income | Consolidated OCI (Expense) / Income | |
Elements generating deferred tax | ||||
Defined benefit obligation | 64,741 | (10,358) | - | 1,051 |
Financial assets at fair value through other comprehensive income | (1,410,015) | 225,602 | - | (171,883) |
Tangible and intangible | 6,295 | (1,007) | (2,571) | - |
Provisions and other liabilities | (592,824) | 94,852 | (13,542) | - |
Taxable items | (1,931,803) | |||
Deferred tax | 309,089 | (16,113) | (170,832) | |
Bank | ||||
December 31, 2023 | ||||
Temporary differences Asset / (Liability) | Individual Statement of Financial Position Asset / (Liability) | Individual Income Statement (Expense) / Income | Consolidated OCI (Expense) / Income | |
Elements generating deferred tax | ||||
Defined benefit obligation | 64,741 | (10,359) | - | 1,051 |
Financial assets at fair value through other comprehensive income | (1,410,015) | 225,602 | - | (171,883) |
Tangible and intangible | 6,383 | (1,021) | (2,584) | - |
Provisions and other liabilities | (555,809) | 88,930 | (2,325) | - |
Taxable items | (1,894,700) | |||
Deferred tax | 303,152 | (4,909) | (170,832) | |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
84
28. Taxation (continued)
Movement in deferred tax is as follows:
Reconciliation of total tax charge
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Profit before income tax | 1,863,357 | 1,996,456 | 1,802,400 | 1,955,635 |
Income tax (16%) | 298,137 | 319,433 | 288,384 | 312,902 |
Fiscal credit and other adjustments | (1,365) | 3,429 | (1,382) | (4,480) |
Non-deductible elements | 60,432 | 46,783 | 49,872 | 31,762 |
Non-taxable elements | (17,623) | (29,018) | (9,297) | (18,729) |
Expense from income tax at effective | 339,581 | 340,627 | 327,577 | 321,455 |
Effective tax rate | 18.2% | 17.1% | 18.2% | 16.4% |
Recognition of deferred tax asset is based on the management’s profit forecasts, which indicates that it is
probable that future taxable profits will be available against which the deferred tax assets can be utilized.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
85
28. Taxation (continued)
At the Bank level, as at December 31, 2024, permanent non-deductible elements include mainly the impact
of provisions for overdue commissions 10,690 (December 31, 2023: 10,833), debt sales and other
operations with limited deductibility in amount of 9,197 (December 31, 2023: 10,846) and tax on turnover
with an impact of 20,588; permanent non-taxable elements are mainly a result of releases for provisions for
overdue commissions in amount of 1,535 (December 31, 2023: 1,108), provisions for risks and
charges/litigations 551 (December 31, 2023: 2,597) and dividends in amount of 3,484 (December 31, 2023:
11,067).
For 2024, the Bank has applied the effective tax rate (ETR) simplified calcution Safe Harbours. Based on
this computation, the effective tax rate was above the minimum threshold of 15%. Therefore, no provision
was booked in 2024 regarding Pillar 2 tax.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
86
29. Interest and similar income
Group | Bank | |||
Restated | Restated | |||
2024 | 2023 | 2024 | 2023 | |
Interest income calculated using method | 4,630,922 | 4,110,695 | 4,589,143 | 4,022,905 |
Interest on loans | 3,575,485 | 3,146,354 | 3,533,904 | 3,059,175 |
Interest on deposit with banks | 267,041 | 281,878 | 266,843 | 281,267 |
Interest on debt instruments | 788,396 | 682,463 | 788,396 | 682,463 |
Other similar income | 150,893 | 109,129 | 358 | 1,388 |
Interest on finance lease | 150,535 | 107,741 | - | - |
Interest income from hedging | 358 | 1,388 | 358 | 1,388 |
Total interest | 4,781,815 | 4,219,824 | 4,589,501 | 4,024,293 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
The interest income for Stage 3 loans includes the accrued interest calculated on net loan exposure (after impairment allowance) in amount of 57,434 for Group
(2023: 62,888) and 57,434 for Bank (2023: 60,011).
30. Interest and similar expense
Group | Bank | |||
Restated | Restated | |||
2024 | 2023 | 2024 | 2023 | |
Interest expense | 1,777,048 | 1,398,527 | 1,697,933 | 1,336,474 |
Interest on term deposits | 1,084,998 | 876,854 | 1,088,688 | 877,748 |
Interest on demand deposits | 288,068 | 209,714 | 293,871 | 217,303 |
Interest on borrowings | 403,982 | 311,959 | 315,374 | 241,423 |
Other similar expense | 93,124 | 96,143 | 92,958 | 95,962 |
Interest expense from hedging | 85,214 | 90,515 | 85,214 | 90,514 |
Interest expense on lease liabilities | 7,910 | 5,628 | 7,744 | 5,448 |
Total interest | 1,870,172 | 1,494,670 | 1,790,891 | 1,432,436 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
87
31. Fees and commissions income and expense
Group | Bank | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Income | Expense | Income | Expense | Income | Expense | Income | Expense | |
Services | 1,092,401 | 474,262 | 984,673 | 398,644 | 1,064,273 | 467,930 | 968,140 | 393,823 |
103,836 | 0 | 107,034 | 0 | 103,836 | 0 | 107,034 | 0 | |
93,326 | 0 | 82,186 | 0 | 93,326 | 0 | 82,186 | 0 | |
111,100 | 24,252 | 95,150 | 21,717 | 111,100 | 24,252 | 95,150 | 21,717 | |
56,151 | 11,559 | 63,392 | 9,078 | 56,151 | 11,559 | 63,392 | 9,078 | |
563,045 | 363,682 | 499,342 | 314,475 | 563,045 | 363,682 | 499,342 | 314,475 | |
management | 108,698 | 24,969 | 84,743 | 17,865 | 80,570 | 18,638 | 68,211 | 13,044 |
56,245 | 49,800 | 52,825 | 35,509 | 56,245 | 49,800 | 52,825 | 35,509 | |
Loan activity | 156,223 | 15,904 | 136,332 | 32,065 | 140,627 | 15,409 | 114,115 | 29,515 |
Off balance sheet | 82,602 | 32,284 | 59,970 | 22 | 82,602 | 32,284 | 59,970 | 22 |
Total | 1,331,225 | 522,450 | 1,180,975 | 430,732 | 1,287,502 | 515,623 | 1,142,224 | 423,361 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
88
32. Gain from derivatives and other financial instruments held for trading
Group | Bank | |||
Restated | Restated | |||
2024 | 2023 | 2024 | 2023 | |
94,034 | 94,908 | 92,563 | 93,743 | |
151,271 | (53,381) | 151,271 | (53,381) | |
16,438 | 1,880 | 16,438 | 1,880 | |
150 | 711 | 150 | 711 | |
126,040 | (55,539) | 126,040 | (55,539) | |
9,882 | 6,958 | 9,882 | 6,958 | |
(2,406) | (855) | (2,406) | (855) | |
- | (6,178) | - | (6,178) | |
1,167 | (358) | 1,167 | (358) | |
245,305 | 41,527 | 243,834 | 40,362 | |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
33. Other income/expense
Group | Bank | |||
Restated | Restated | |||
2024 | 2023 | 2024 | 2023 | |
(12,798) | 7,951 | (12,798) | 7,951 | |
(5,742) | (1,893) | - | - | |
(32,055) | (9,123) | (25,165) | (15,495) | |
Total income/(expense) | (50,595) | (3,065) | (37,963) | (7,544) |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
89
34. Contribution to Guarantee Scheme and Resolution Fund
34.1 Contribution to Guarantee Scheme
According to the Romanian legislation (Law no. 311/2015 on Deposit Guarantee Schemes and the Bank
Deposit Guarantee Fund), the deposits of individuals and certain entities, including small and medium
enterprises and large companies are covered up to EUR 100,000 by the Bank Deposit Guarantee Fund
(“Fund”).
Each credit institution participating to deposit guarantee scheme shall pay the annual contribution as
determined and notified by the Fund. The amount of the contribution refers to the total covered deposits at
the end of the previous year and also reflects the degree of risk associated to each credit institution in the
scheme.
The degree of risk is determined based on the financial and prudential indicators reported by the credit
institutions to the National Bank of Romania. For this purpose, the Bank Deposits Guarantee Fund uses a
methodology approved by the National Bank of Romania considering also the guidelines issued by the
European Banking Authority.
For the year 2024 the expense related to the Deposit Guarantee Fund amounts to 16,447 (2023: 16,269).
34.2 Contribution to Resolution Fund
According to Law no. 312/2015 on recovery and resolution of credit institution and investment firms, each
credit institution shall pay an annual contribution to Bank Resolution Fund as determined and notified by
the National Bank of Romania.
The National Bank of Romania as the local resolution authority establish the credit institutions annual
contributions to Bank Resolution Fund, in compliance with Commission Delegated Regulation EU
2015/63, supplementing Directive 2014/59 of the European Parliament and of the Council with regard to
ex ante contributions to resolution financing arrangements.
For the year 2024 the expense related to the Bank Resolution Fund amounts to 27,118 (2023: 51,953).
Both contributions to the Bank Deposit Guarantee Fund and Bank Resolution Fund meet the criteria for
recognition as taxes and accounted in accordance with IFRIC 21 “Levies” requirements. The liability is
recognized at the date when the obligating event occurs and the contribution is recognized as an expense in
full on 1
st
35. Personnel expenses
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Salaries | 946,210 | 870,204 | 904,317 | 827,006 |
Social security | 22,222 | 20,321 | 20,977 | 19,146 |
Bonuses | 88,832 | 78,195 | 88,202 | 76,262 |
Post-employment benefits | 874 | 4,246 | 874 | 4,246 |
Capitalisation of internal projects | (62,093) | (48,098) | (62,093) | (48,098) |
Other | 14,072 | 38,090 | 13,068 | 36,429 |
Total | 1,010,117 | 962,958 | 965,345 | 914,991 |
In 2024, the expense related to the Bank defined benefit plan was 3,789 (2023: 3,993).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
90
36. Depreciation, amortization and impairment on tangible and intangible assets
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Depreciation and impairment | 167,281 | 173,507 | 164,228 | 169,786 |
Amortisation | 88,715 | 74,916 | 87,532 | 74,082 |
Total | 255,996 | 248,423 | 251,760 | 243,868 |
The difference as of December 31, 2024 between the amount presented in Note 15 and the amount presented
in Note 36 represents depreciation of investment property in total amount of 469 and release of impairment
of investment property in total amount of 92 (December 31, 2023: 455 depreciation of investment property
and release of impairment in amount of 75).
37. Other operating expenses
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Administrative expenses | 492,695 | 507,570 | 476,319 | 487,962 |
Publicity and sponsorships | 40,493 | 38,566 | 40,071 | 38,261 |
Other expenses | 51,845 | 69,534 | 58,824 | 61,622 |
Tax on turnover | 128,673 | - | 128,673 | - |
Total | 713,706 | 615,670 | 703,887 | 587,845 |
Administrative expenses include for the Bank maintenance expenses, various utilities such as energy and
telecommunication, expenses related to short-term leases of 5,389 (December 31, 2023: 3,697) and to leases
of low-value assets of 4,746 (December 31, 2023: 4,264).
This line also includes audit fees amounting 6,081 for Group (out of which statutory and Group audit in
amount of 3,280, other audit related fees in amount of 2,778 and non-audit fees in amount of 23) and 5,697
for Bank (out of which statutory and Group audit in amount of 2,896, other audit related fees in amount of
2,778 and non-audit fees in amount of 23).
According to Law 296/2023, the Romanian Fiscal Code was amended to introduce, starting January 1st,
2024, a supplementary tax for credit institutions, i.e. the tax on turnover which is computed as follows: for
2024 and 2025 the tax is 2% from the turnover, while starting 2026 the rate is 1%. The tax is additional to
the corporate income tax, it is computed and payable on a quarterly basis and is a non-deductible expense.
The line Tax on turnover represents the tax expense for the financial year 2024 in amount of 128,673.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
91
38. Net impairment gain/(loss) on financial instruments
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Net impairment allowance for loans | 243,357 | 95,593 | 219,559 | 99,096 |
Net impairment allowance for sundry | 56,784 | 64,921 | 54,750 | 59,843 |
Net impairment allowance for finance | 837 | 1,437 | - | - |
Income from recoveries of derecognized sales of bad debts | (137,984) | (201,623) | (123,035) | (179,446) |
Write-offs | 9,115 | 21,549 | 3,748 | 11,620 |
Financial guarantee and loan | (23,981) | (39,457) | (24,483) | (39,239) |
Net impairment allowance for debt | (2,787) | 202 | (2,787) | 202 |
Total | 145,341 | (57,378) | 127,752 | (47,924) |
39. Earnings per share
Basic earnings per share are calculated by dividing net profit/(loss) for the reporting period attributable to
ordinary equity owners of the parent by the weighted average number of shares outstanding during the year.
As of December 31, 2024 and December 31, 2023 there were no dilutive equity instruments issued by the
Group and Bank.
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Ordinary shares on market | 696,901,518 | 696,901,518 | 696,901,518 | 696,901,518 |
Profit attributable to shareholders | 1,524,409 | 1,639,581 | 1,474,824 | 1,634,180 |
Earnings per share (in RON) | 2.1874 | 2.3527 | 2.1163 | 2.3449 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
92
40. Other commitments
Group | Bank | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Tangible non-current | 9,088 | 28,269 | 9,088 | 28,269 |
Intangible non-current assets | 34,862 | 79,793 | 34,862 | 79,793 |
Commitments relating to short-term and low value leases | 20,212 | 24,952 | 20,212 | 24,952 |
Total | 64,162 | 133,014 | 64,162 | 133,014 |
The other commitments presented above include short term and low value leases, software maintenance
contracts and other IT services.
As of December 31, 2024 and December 31, 2023 the future minimum lease payments regarding short
term and low value assets, concluded by the Group and Bank as a lessee are:
Group | Bank | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Less than one year | 8,391 | 12,545 | 8,391 | 12,545 |
Between one and five years | 8,894 | 9,769 | 8,894 | 9,769 |
More than five years | 36 | 69 | 36 | 69 |
Total | 17,321 | 22,383 | 17,321 | 22,383 |
As of December 31, 2024 and December 31, 2023, the future minimum lease receipts regarding short term
and low value assets, concluded by the Group and Bank as a lessor are:
Group | Bank | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Less than one year | 405 | 1,641 | 405 | 1,641 |
Between one and five years | 688 | 324 | 688 | 324 |
More than five years | 257 | 41 | 257 | 41 |
Total | 1,350 | 2,006 | 1,350 | 2,006 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
93
41. Related parties
The Group entered into related party transactions with its parent, other related parties (include other SG entities and also other close family members of the key
management of the institutions or other entities in which key management of the institution have interests), subsidiaries, associates, joint venture and key
management personnel. All related party transactions were made on substantially the same terms, including interest rates and collateral requirements, as those
prevailing for similar transactions with unrelated parties. The transactions/balances with subsidiaries were eliminated for consolidation purposes. The
transactions/balances with related parties can be summarized as follows:
Group | ||||||||||
2024 | 2023 Restated | |||||||||
Parent | Other related parties | Associates | Joint ventures | Key management of the institution | Parent | Other related parties | Associates | Joint ventures | Key management of the institution | |
Assets | 4,758,906 | 81,519 | 879 | 19,631 | 4,120 | 3,295,712 | 34,603 | 2,236 | 23,655 | 2,879 |
Nostro accounts | 100,304 | 238 | - | - | - | 113,766 | 407 | - | - | - |
Deposits | 4,490,556 | - | - | - | - | 2,919,555 | - | - | - | - |
Loans | - | 81,101 | - | 19,631 | 4,120 | - | 34,058 | - | 23,655 | 2,879 |
Derivative financial instruments | 44,218 | 0 | - | - | - | 57,482 | (0) | - | - | - |
Other assets | 123,828 | 180 | 879 | - | - | 204,909 | 138 | 2,236 | - | - |
Liabilities | 7,661,753 | 224,319 | 19,358 | 20,757 | 9,927 | 8,651,529 | 218,232 | 26,554 | 10,758 | 6,992 |
Loro accounts | 61,013 | 1,124 | - | - | - | 28,833 | 13,530 | - | - | - |
Deposits and amounts in transit | 58,630 | 208,180 | 19,358 | 9,922 | 9,925 | 55,072 | 178,941 | 26,554 | 1,508 | 6,991 |
Borrowings | 6,083,648 | - | - | - | - | 6,648,564 | - | - | - | - |
Subordinated borrowings | 1,245,458 | - | - | - | - | 1,245,400 | - | - | - | - |
Lease payable | - | 10,905 | - | - | - | - | 11,221 | - | - | - |
Derivative financial instruments | 154,091 | 0 | - | - | - | 244,002 | 10,601 | - | - | - |
Other liabilities | 58,913 | 4,110 | 0 | 10,835 | 2 | 429,658 | 3,939 | - | 9,250 | 1 |
Commitments | 8,549,648 | 134,139 | 1,727 | 10,000 | 308 | 7,571,992 | 252,581 | - | 45,000 | 273 |
Total commitments granted | 209,815 | 67,515 | - | - | 308 | 250,611 | 144,673 | - | - | 273 |
Total commitments received | 209,815 | 38,154 | - | - | - | 243,732 | 53,388 | - | 35,000 | - |
Uncommitted facilities granted | 37,984 | 28,470 | - | 10,000 | - | 37,985 | 54,520 | - | 10,000 | - |
Notional amount of foreign exchange transactions | 2,666,642 | - | - | - | - | 1,658,217 | - | - | - | - |
Notional amount of interest rate derivatives | 5,401,885 | - | - | - | - | 5,320,934 | - | - | - | - |
Securities and other deliverable financial assets | 14,274 | - | - | - | - | 29,945 | - | - | - | - |
Securities and other receivable financial assets | 9,233 | - | 1,727 | - | - | 30,568 | - | - | - | - |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
94
41. Related parties (continued)
Bank | ||||||||||||
2024 | 2023 Restated | |||||||||||
Parent | Other related parties | Subsidiaries | Associates | Joint ventures | Key management of the institution | Parent | Other related parties | Subsidiaries | Associates | Joint ventures | Key management of the institution | |
Assets | 4,758,906 | 81,519 | 3,033 | 878 | 19,631 | 4,120 | 3,280,318 | 34,603 | 6,843 | 327 | 23,655 | 2,879 |
Nostro accounts | 100,304 | 238 | - | - | - | - | 113,766 | 407 | - | - | - | - |
Deposits | 4,490,556 | - | - | - | - | - | 2,904,190 | - | - | - | - | - |
Loans | - | 81,101 | - | - | 19,631 | 4,120 | - | 34,058 | 4,943 | - | 23,655 | 2,879 |
Derivative financial instruments | 44,218 | 0 | - | - | - | - | 57,482 | (0) | (0) | - | - | - |
Other assets | 123,828 | 180 | 3,033 | 878 | - | - | 204,880 | 138 | 1,900 | 327 | - | - |
Liabilities | 5,808,267 | 224,247 | 283,052 | 19,358 | 20,757 | 9,927 | 6,831,077 | 217,895 | 239,965 | 26,554 | 10,758 | 6,992 |
Loro accounts | 61,013 | 1,124 | - | - | - | - | 28,833 | 13,530 | - | - | - | - |
Deposits and amounts in transit | 58,630 | 208,180 | 281,176 | 19,358 | 9,922 | 9,925 | 55,072 | 178,941 | 237,216 | 26,554 | 1,508 | 6,991 |
Borrowings | 4,231,942 | - | 1,876 | - | - | - | 4,830,840 | - | 2,636 | - | - | - |
Subordinated borrowings | 1,245,458 | - | - | - | - | - | 1,245,400 | - | - | - | - | - |
Lease payable | - | 10,905 | - | - | - | - | - | 10,964 | - | - | - | - |
Derivative financial instruments | 154,091 | 0 | - | - | - | - | 244,002 | 10,601 | - | - | - | - |
Other liabilities | 57,133 | 4,038 | - | - | 10,835 | 2 | 426,930 | 3,859 | 113 | - | 9,250 | 1 |
Commitments | 8,549,648 | 134,139 | 37,447 | - | 10,000 | 308 | 7,571,992 | 252,581 | 51,630 | - | 45,000 | 273 |
Total commitments granted | 209,815 | 67,515 | 2,083 | - | - | 308 | 250,611 | 144,673 | 11,206 | - | - | 273 |
Total commitments received | 209,815 | 38,154 | - | - | - | - | 243,732 | 53,388 | - | - | 35,000 | - |
Uncommitted facilities granted | 37,984 | 28,470 | 35,364 | - | 10,000 | - | 37,985 | 54,520 | 40,424 | - | 10,000 | - |
Notional amount of foreign exchange transactions | 2,666,642 | - | - | - | - | - | 1,658,217 | - | - | - | - | - |
Notional amount of interest rate derivatives | 5,401,885 | - | - | - | - | - | 5,320,934 | - | - | - | - | - |
Securities and other deliverable financial assets | 14,274 | - | - | - | - | - | 29,945 | - | - | - | - | - |
Securities and other receivable financial assets | 9,233 | - | - | - | - | - | 30,568 | - | - | - | - | - |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
95
41. Related parties (continued)
Group | ||||||||||
2024 | 2023 Restated | |||||||||
Parent | Other related parties | Associates | Joint ventures | Key management of the institution | Parent | Other related parties | Associates | Joint ventures | Key management of the institution | |
Income statement | (346,897) | 1,397 | 41,095 | (113,078) | (73) | (325,651) | 1,758 | 83,926 | (91,445) | (74) |
Interest and commision revenues | 99,492 | 16,027 | 43,921 | 1,722 | 179 | 61,216 | 15,057 | 50,684 | 2,003 | 169 |
Interest and commission expenses | (486,458) | (7,317) | (3,275) | (39,729) | (184) | (403,101) | (4,814) | (3,515) | (25,468) | (74) |
Net gain/(loss) on interest rate derivatives | 80,484 | - | - | - | - | 57,783 | - | - | - | - |
Net gain/(loss) on foreign exchange derivatives | 7,878 | (21) | - | - | - | (1,601) | (104) | - | - | - |
Dividend income | - | - | 1,677 | - | - | - | - | 17,040 | - | - |
Other income | (1,039) | 9 | 77 | - | (1) | (118) | (2,046) | 21,927 | - | - |
Other expenses | (47,254) | (7,301) | (1,305) | (75,071) | (67) | (39,830) | (6,335) | (2,210) | (67,980) | (169) |
Bank | ||||||||||||
2024 | 2023 Restated | |||||||||||
Parent | Other related parties | Subsidiaries | Associates | Joint ventures | Key management of the institution | Parent | Other related parties | Subsidiaries | Associates | Joint ventures | Key management of the institution | |
Income statement | (268,970) | 2,343 | 18,203 | 39,367 | (113,078) | (73) | (260,790) | 2,767 | 49,464 | 76,895 | (91,445) | (74) |
Interest and commision revenues | 99,297 | 16,026 | 19,314 | 42,392 | 1,722 | 179 | 60,604 | 14,881 | 16,284 | 43,645 | 2,003 | 169 |
Interest and commission expenses | (409,198) | (7,317) | (9,500) | (3,275) | (39,729) | (184) | (339,425) | (4,814) | (8,503) | (3,515) | (25,468) | (74) |
Net gain/(loss) on interest rate derivatives | 80,484 | - | - | - | - | - | 57,783 | - | - | - | - | - |
Net gain/(loss) on foreign exchange derivatives | 7,878 | (21) | 45 | - | - | - | (1,601) | (104) | (164) | - | - | - |
Dividend income | - | - | 17,831 | 1,677 | - | - | - | - | 38,234 | 17,040 | - | - |
Other income | (1,039) | 9 | (13,129) | (0) | - | (1) | (118) | (2,046) | (104) | 21,850 | - | - |
Other expenses | (46,392) | (6,354) | 3,642 | (1,427) | (75,071) | (67) | (38,033) | (5,150) | 3,717 | (2,125) | (67,980) | (169) |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
96
41. Related parties (continued)
Other liabilities and other expenses include corporate and technical assistance with Société Générale Paris.
Other liabilities do not include any amount representing dividends to be paid to Société Générale Paris as
of December 31, 2024, dividends were already paid at the beginning of 2024 (December 31, 2023: 386,860).
The Bank has granted to SG Paris collaterals regarding derivative instruments in total amount of 121,496
as of December 31, 2024 (December 31, 2023: 201,869).
As of December 31, 2024 the Board of Directors and Managing Committee members own 1,030 shares
(December 31, 2023: 21,030).
Key management personnel benefits for 2024 and 2023 are:
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Short-term benefits | 17,932 | 17,258 | 13,255 | 13,156 |
Long-term benefits | 4,415 | 5,211 | 4,228 | 4,476 |
Termination benefits | 1,272 | 273 | 1,272 | 273 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
97
42. Contingencies
As of December 31, 2024 the Bank is the defendant in a number of lawsuits arising in the course of business,
amounting to approximately 68,945 (December 31, 2023: 80,404). The amounts disclosed represent the
additional potential loss in the event of a negative court decision, the amounts not being provisioned. The
management believes that the ultimate resolution of these matters will not have a material adverse effect
on the Group’s overall financial position and performance. The Bank already booked a provision of 24,676
(December 31, 2023: 11,886) and the Group 30,610 (December 31, 2023: 17,004) in relation with the
litigations.
Competition Council
During the year ended December 31, 2023, the Bank (together with other banks) was subject of two
investigations by the Competition Council:
-
First investigation was launched ad-hoc in October 2022 and concerns a potential infringement of
the completion regulations regarding the fixing of reference ROBOR rates. The investigation is
still in the preliminary phase at the date of issue of these financial statements and no report has
been delivered.
-
Second investigation was launched in July 2023 and concerns the activity of the Credit Bureau and,
more specifically, how usage of the FICO scoring is influenced by the number of banks’
interrogations with the Credit Bureau. The investigation is also in its early phases and the Bank has
not received yet a request of information from the Competition Council.
If applicable, in case of a negative outcome of the above investigations, the Competition Law 21/1996
provisions become applicable (i.e. subject to individualization, depending on gravity, length and potential
mitigating and aggravating circumstances, the related fine might range between 0.5% and 10% from the
turnover in the year prior to the sanction).
However, considering that:
-
based on current info as of today, no specific element of non-compliance with competition law has
been identified by the Bank,
-
the investigation is in an incipient stage and no report has been issued by the Competition Council,
the Bank concludes that the risk is low and remote and therefore no provision should be recognized as of
December 31, 2024.
National Agency for Consumer Protection (“ANPC”)
During 2023, ANPC launched an investigation on a large number of banks concerning the observed most
employed method of reimbursement schedule computation (i.e. equal instalments). The Bank was fined
with 50 for deceiving marketing practice and received an ANPC order to stop these practices.
The Bank launched a series of Court actions concerning both the fine and the order. At this point in time
the ANPC Order is suspended and the actions follow their legal course.
National Agency for Consumer Protection (“ANPC 2”)
During 2024, ANPC has started an investigation concerning the loans granted under the Law 190/1999 and
concluded during 2004-2010, with variable interest and management fee perceived simultaneously. The
Bank was fined with 60 and remedial measures (reimburse the barrowers with the amount paid in excess)
had been imposed to the Bank.
The Bank launched a series of Court actions concerning both the fine and the order. At this point in time
the ANPC Order is suspended, and the actions follow their legal course.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
98
42. Contingencies (continued)
National Agency for Consumer Protection (“ANPC 3”)
In October, 2024, based on a client complaint, the ANPC started an investigation on the Bank regarding
the lack of transparency regarding the applicable interest rate for the automatically renewed deposits.
The Bank was fined with 200 and remedial measures had been imposed to the Bank.
Considering the status of all above actions, the Bank assesses that as of December 31, 2024 and December
31, 2023, the criteria for booking a provision or a contingent liability are not met.
43. Fair value
Determination of fair value and fair value hierarchy
To determine and disclose the fair value hierarchy of the financial instruments, the Group follows the three-
level classification of the inputs to valuation techniques used to measure fair value:
●
Level 1: quoted (unadjusted) prices
Level 1 instruments contain the government bonds, priced directly by external counterparties on various
dealing platforms (Bloomberg, Reuters etc.);
●
Level 2: other inputs
that are observable
that particular asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices);
Level 2 instruments include in particular securities that cannot directly be quoted on the market (e.g.
corporate bonds) and firm derivatives, with standard features and common maturities, whose value can be
retrieved or derived from market data;
●
Level 3:
unobservable inputs
).
Level 3 instruments include options traded over the counter and other derivatives with specifically-tailored
return profiles and/or maturities extended over the normal spectrum;
The following table shows an analysis of financial instruments recorded at fair value by level of the fair
value hierarchy:
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
99
43. Fair value (continued)
Group | Bank | |||||||
December 31, 2024 | December 31, 2024 | |||||||
Assets measured at fair value | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
Financial assets | ||||||||
Derivative financial instruments | ||||||||
Interest rate swaps | - | 35,248 | - | 35,248 | - | 35,248 | - | 35,248 |
Currency swaps | - | 46,120 | - | 46,120 | - | 46,120 | - | 46,120 |
Forward foreign exchange contracts | - | 21,945 | - | 21,945 | - | 21,945 | - | 21,945 |
Options | - | - | 38,556 | 38,556 | - | - | 38,556 | 38,556 |
- | 103,313 | 38,556 | 141,869 | - | 103,313 | 38,556 | 141,869 | |
Financial assets at fair value through other comprehensive | 12,164,852 | - | - | 12,164,852 | 12,164,852 | - | - | 12,164,852 |
Equity investments (listed) | 4,649 | - | - | 4,649 | 4,649 | - | - | 4,649 |
Equity investments (not listed) | - | - | 4,559 | 4,559 | - | - | 4,559 | 4,559 |
Total | 12,169,501 | - | 4,559 | 12,174,060 | 12,169,501 | - | 4,559 | 12,174,060 |
Other financial instruments held for trading | 809,797 | 890,896 | - | 1,700,693 | 777,739 | 890,896 | - | 1,668,635 |
Total | 12,979,298 | 994,209 | 43,115 | 14,016,622 | 12,947,240 | 994,209 | 43,115 | 13,984,564 |
Assets for which fair value is disclosed | ||||||||
Cash and cash equivalents | 7,551,243 | 1,106,792 | - | 8,658,035 | 7,551,162 | 1,106,792 | - | 8,657,954 |
Due from banks | - | 6,313,423 | - | 6,313,423 | - | 6,313,423 | - | 6,313,423 |
Loans and advances to customers | - | - | 48,351,258 | 48,351,258 | - | - | 48,000,169 | 48,000,169 |
Debt securities | 5,939,263 | - | 1,040,923 | 6,980,186 | 5,939,263 | - | 1,040,923 | 6,980,186 |
Financial lease receivables | - | - | 2,015,072 | 2,015,072 | - | - | - | - |
Total | 13,490,506 | 7,420,215 | 51,407,253 | 72,317,974 | 13,490,425 | 7,420,215 | 49,041,092 | 69,951,732 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
100
43. Fair value (continued)
Group | Bank | |||||||
December 31, 2024 | December 31, 2024 | |||||||
Liabilities measured at fair value | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
Financial liabilities | ||||||||
Derivative financial instruments | ||||||||
Interest rate swaps | - | 151,439 | - | 151,439 | - | 151,439 | - | 151,439 |
Currency swaps | - | 11,324 | - | 11,324 | - | 11,324 | - | 11,324 |
Forward foreign exchange contracts | - | 10,937 | - | 10,937 | - | 10,937 | - | 10,937 |
Options | - | - | 38,672 | 38,672 | - | - | 38,672 | 38,672 |
Total | - | 173,700 | 38,672 | 212,372 | - | 173,700 | 38,672 | 212,372 |
Other financial instruments held for trading | 226,548 | 85,090 | - | 311,638 | 226,548 | 85,090 | - | 311,638 |
Total | 226,548 | 258,790 | 38,672 | 524,010 | 226,548 | 258,790 | 38,672 | 524,010 |
Liabilities for which fair value is disclosed | ||||||||
Due to banks | - | 1,477,293 | - | 1,477,293 | - | 1,477,293 | - | 1,477,293 |
Due to customers | - | 67,964,469 | - | 67,964,469 | - | 68,244,935 | - | 68,244,935 |
Borrowed funds | - | 6,557,966 | - | 6,557,966 | - | 4,219,899 | - | 4,219,899 |
Subordinated debts | - | 1,245,458 | - | 1,245,458 | - | 1,245,458 | - | 1,245,458 |
Total | - | 77,245,187 | - | 77,245,187 | - | 75,187,585 | - | 75,187,585 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
101
43. Fair value (continued)
Group | Bank | |||||||
December 31, 2023 Restated | December 31, 2023 Restated | |||||||
Assets measured at fair value | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
Financial assets | ||||||||
Derivative financial instruments | ||||||||
Interest rate swaps | - | 27,661 | - | 27,661 | - | 27,661 | - | 27,661 |
Currency swaps | - | 12,587 | - | 12,587 | - | 12,587 | - | 12,587 |
Forward foreign exchange contracts | - | 3,177 | - | 3,177 | - | 3,177 | - | 3,177 |
Options | - | - | 43,858 | 43,858 | - | - | 43,858 | 43,858 |
- | 43,425 | 43,858 | 87,283 | - | 43,425 | 43,858 | 87,283 | |
Financial assets at fair value through other comprehensive income | 13,429,670 | - | - | 13,429,670 | 13,429,670 | - | - | 13,429,670 |
Equity investments (listed) | 7,456 | - | - | 7,456 | 7,456 | - | - | 7,456 |
Equity investments (not listed) | - | - | 3,919 | 3,919 | - | - | 3,919 | 3,919 |
Total | 13,437,126 | - | 3,919 | 13,441,045 | 13,437,126 | - | 3,919 | 13,441,045 |
Other financial instruments held for trading | 1,219,076 | 829,350 | - | 2,048,426 | 1,194,028 | 829,350 | - | 2,023,378 |
Total | 14,656,202 | 872,775 | 47,777 | 15,576,754 | 14,631,154 | 872,775 | 47,777 | 15,551,706 |
Assets for which fair value is disclosed | ||||||||
Cash and cash equivalents | 11,949,519 | 512,372 | - | 12,461,891 | 11,949,447 | 512,372 | - | 12,461,819 |
Due from banks | - | 5,135,720 | - | 5,135,720 | - | 5,120,355 | - | 5,120,355 |
Loans and advances to customers | - | - | 40,409,198 | 40,409,198 | - | - | 40,003,152 | 40,003,152 |
Debt securities | 5,275,613 | - | 1,108,370 | 6,383,983 | 5,275,613 | - | 1,108,370 | 6,383,983 |
Financial lease receivables | - | - | 1,673,622 | 1,673,622 | - | - | - | - |
Assets held for sale | - | - | 199,535 | 199,535 | - | - | - | - |
Total | 17,225,132 | 5,648,092 | 43,390,725 | 66,263,949 | 17,225,060 | 5,632,727 | 41,111,522 | 63,969,309 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
102
43. Fair value (continued)
Group | Bank | |||||||
December 31, 2023 Restated | December 31, 2023 Restated | |||||||
Liabilities measured at fair value | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
Financial liabilities | ||||||||
Derivative financial instruments | ||||||||
Interest rate swaps | - | 253,207 | - | 253,207 | - | 253,207 | - | 253,207 |
Currency swaps | - | 35,016 | - | 35,016 | - | 35,016 | - | 35,016 |
Forward foreign exchange contracts | - | 3,537 | - | 3,537 | - | 3,537 | - | 3,537 |
Options | - | - | 44,011 | 44,011 | - | - | 44,011 | 44,011 |
Total | - | 291,760 | 44,011 | 335,771 | - | 291,760 | 44,011 | 335,771 |
Other financial instruments held for trading | 522,637 | 414,042 | - | 936,679 | 522,637 | 414,042 | - | 936,679 |
Total | 522,637 | 705,802 | 44,011 | 1,272,450 | 522,637 | 705,802 | 44,011 | 1,272,450 |
Liabilities for which fair value is disclosed | ||||||||
Due to banks | - | 1,146,540 | - | 1,146,540 | - | 1,146,540 | - | 1,146,540 |
Due to customers | - | 62,424,534 | - | 62,424,534 | - | 62,660,775 | - | 62,660,775 |
Borrowed funds | - | 6,996,236 | - | 6,996,236 | - | 5,090,605 | - | 5,090,605 |
Subordinated debts | - | 1,245,400 | - | 1,245,400 | - | 1,245,400 | - | 1,245,400 |
Total | - | 71,812,710 | - | 71,812,710 | - | 70,143,320 | - | 70,143,320 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
103
43. Fair value (continued)
Financial instruments measured at fair value
The following is a description of the determination of fair value for financial instruments which are recorded
at fair value using valuation techniques. These incorporate the Group’s estimate of assumptions that a
market participant would make when valuing the instruments.
Treasury notes
through other comprehensive income or financial instruments held for trading measured at fair value
through profit and loss, being measured using a valuation technique based on market quotes published by
Bloomberg or by Reuters (market approach).
Derivatives
The fair value of the derivatives is determined using valuation techniques commonly known on the market,
such as discounted cash flows for swaps or Black-Sholes formula for options.
Firm derivatives
main derivative products measured using as valuation technique the income approach (discounting cash
flows) and incorporating observable inputs from market (foreign exchange spot rate, forward rates, interest
rate rates, futures), both directly observable ones (explicit parameters) and indirectly observable ones.
The directly observable parameters are variables that come directly from the market and are presumed to
be easily available, accessible to each market participant. The main explicit parameters used in valuation
of firm financial instruments are interbank fixing FX rates published by NBR, interbank swap points,
interbank bid/ask interest rates, futures quotes on EUR and USD. Implicit parameters are variables obtained
through standard intermediary calculation, using market prices for relevant financial instruments. The yield
curves designated at the level of each product and currency are fed with explicit parameters according to
the pre-set configuration, facilitating the computation of implicit parameters used in computing the fair
value such as Zero-coupons, Discount Factors and Forward Interest Rates.
Conditional derivatives
mark-to-model approach. The model is calibrated to derive the value of the option based on the current
market conditions (spot rates) and the future values presumed to be attained by the underlying (forward
exchange rates, FRAs etc.), integrating in the calculation the standard option-sensitivities (delta, gamma,
vega, theta), along with information regarding the size of the positions and the liquidity of the instrument.
The fair value is determined through SG’s computation module, the values of the specific parameters being
daily retrieved from the market and stored in the database, serving as direct input in the daily final formula
or further used for the statistical calculation implied by the valuation process.
The Bank manages the group of these financial assets and liabilities (options) based on the entity’s net
exposure to a particular market risk (foreign exchange, interest rate, price risk) and, according to the trading
book policy in place, the Bank assumes no residual market risk induced by option-trading. Any bought
option is perfectly matched on the same day with a sold option, identical in terms of option type, underlying,
exercise prices, maturity. The perfect back-to-back system is subject to daily controls performed at back-
office level, to ensure that no mismatch occurred and there is no residual open position on options.
Therefore, the impact of a specific change on the estimated value on one non-observable parameter used
on the valuation of an option classified/ accounted as financial asset is offset by same specific change on
estimated value of the same non-observable parameter on the valuation of the mirror-replicated option
classified/ accounted as financial liability.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
104
43. Fair value (continued)
Equities
These assets are valued using models which sometimes only incorporate data observable in the market and
at other times use both observable and non-observable data. The non-observable inputs to the models
include assumptions regarding the financial performance of the investee.
The fair value of equity instruments not listed classified as of fair value through profit and loss and
consisting of ordinary shares of other entities is determined by using the net assets of the entities as of the
end of the last closed reporting period. The entities net assets represent the best estimation of the current
replacement cost that would be paid to replace the holding as it consists of the initial capital investment
adjusted by the financial performance of the entity.
Fair value of financial assets and liabilities not carried at fair value
Financial assets
For deposits with banks amortized cost is estimated to approximate fair value due to their short–term nature,
interest rates reflecting current market conditions and no significant transaction costs.
For loans and lease receivables the fair value is determined by using discounted cash-flows based on interest
rate offered to similar products and similar time horizons.
Financial liabilities
The amortized cost of deposits from banks is considered to approximate their respective fair values, since
these items have predominantly short maturities, carry interest rates reflecting current market conditions
and are settled without significant transaction costs.
For due to customers, borrowings and subordinated debts the fair value is determined by using discounted
cash-flows based on interest rate offered to similar products and customers and with similar time horizons.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
105
43. Fair value (continued)
The following table presents the fair value and the carrying amount per type of financial instrument.
Group | Bank | |||||||
December 31, 2024 | December 31, 2023 Restated | December 31, 2024 | December 31, 2023 Restated | |||||
Carrying value | Fair value | Carrying value | Fair value | Carrying value | Fair value | Carrying value | Fair value | |
Financial assets | ||||||||
Cash and cash equivalents | 8,658,035 | 8,658,035 | 12,461,891 | 12,461,891 | 8,657,954 | 8,657,954 | 12,461,819 | 12,461,819 |
Due from banks | 6,313,423 | 6,313,423 | 5,135,720 | 5,135,720 | 6,313,423 | 6,313,423 | 5,120,355 | 5,120,355 |
Loans and advances to customers | 47,705,202 | 48,351,258 | 40,047,136 | 40,409,198 | 47,351,908 | 48,000,169 | 39,635,435 | 40,003,152 |
Debt securities | 7,107,780 | 6,980,186 | 6,229,933 | 6,383,983 | 7,107,780 | 6,980,186 | 6,229,933 | 6,383,983 |
Financial lease receivables | 2,023,475 | 2,015,072 | 1,691,734 | 1,673,622 | - | - | - | - |
Assets held for sale | - | - | 209,886 | 199,535 | - | - | - | - |
Total | 71,807,915 | 72,317,974 | 65,776,300 | 66,263,949 | 69,431,065 | 69,951,732 | 63,447,542 | 63,969,309 |
Financial liabilities | ||||||||
Due to banks | 1,477,293 | 1,477,293 | 1,146,540 | 1,146,540 | 1,477,293 | 1,477,293 | 1,146,540 | 1,146,540 |
Due to customers | 67,935,142 | 67,964,469 | 62,405,609 | 62,424,534 | 68,215,487 | 68,244,935 | 62,641,838 | 62,660,775 |
Borrowed funds | 6,554,915 | 6,557,966 | 7,004,362 | 6,996,236 | 4,234,105 | 4,219,899 | 4,834,225 | 5,090,605 |
Subordinated debts | 1,245,458 | 1,245,458 | 1,245,400 | 1,245,400 | 1,245,458 | 1,245,458 | 1,245,400 | 1,245,400 |
Total | 77,212,808 | 77,245,187 | 71,801,911 | 71,812,710 | 75,172,343 | 75,187,585 | 69,868,003 | 70,143,320 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
106
43. Fair value (continued)
The methods and significant assumptions applied in determining the fair value of the elements in the table
above are listed below.
The fair value of fixed rate instruments is estimated by discounting the maturing cash flows with discount
factors derived from December 31, 2024 rates offered to similar clients, for similar products on similar
maturities. The fair value of floating instruments is estimated by discounting from the next re-pricing date
using as discount factors rates offered to similar clients, for similar products on similar time horizons.
Changes in the credit quality of loans within the portfolio are not considered in determining gross fair
values, as the impact of impairment is recognized separately by deducting the amount of the allowance for
credit losses from both carrying and fair values.
For the purposes of the fair value disclosure, the interest accrued to date is included in the carrying value
of the financial instruments.
There were no transfers between fair value hierarchy levels during the period.
Movement in level 3:
Fair value of equity investments not listed is estimated based on net assets of the investments.
Group / Bank | |||
Equity investments (not listed) | Options (A) | Options (L) | |
Closing balance as at December 31, 2022 | 4,120 | 65,609 | 65,645 |
Acquisitions | - | 8,001 | 8,001 |
Sales | - | (296) | (296) |
Reimbursements | - | (6,144) | (6,144) |
Gain losses from change | (201) | (23,312) | (23,195) |
Closing balance as at December 31, | 3,919 | 43,858 | 44,011 |
Acquisitions | 347 | 15,304 | 15,304 |
Sales | (286) | (496) | (496) |
Reimbursements | - | (6,404) | (6,404) |
Gain losses from change | 579 | (13,706) | (13,743) |
Closing balance as at | 4,559 | 38,556 | 38,672 |
44. Subsequent events
No subsequent events were identified after the reporting period.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
107
45. Risk management
Risk management within the Group and Bank is based on an integrated concept that considers the statutory
and regulatory norms as defined and required by the National Bank of Romania, Société Générale risk
management standards as well as best practices accepted by the banking industry. The level of risk appetite
fully reflects the Group’s and Bank’s risk management strategy, aiming to support a sustainable growth of
its lending activity while reinforcing the Bank’s and Group’s market position.
Risk governance relies on the three lines of defense model, which reinforces segregation of duties between
various control functions.
The
first line
management of the risks arisen in conducting their daily activities, considering the Bank’s risk appetite and
its existing policies, procedures and controls.
The
second line
responsible for further identifying, measuring, monitoring and reporting risks, while ensuring the
compliance with internal and external requirements and providing support to the business/operational
functions in executing their duties.
The
third line
and objective assurance on the quality and effectiveness of the Bank’s internal control system, the first and
second lines of defense and the risk governance framework.
The Group and Bank’s risk management governance is centered along the following axes:
●
continuous process of identification, assessment, monitoring, reporting and control, considering risk
limits, approval competences, segregation of duties and other mitigation techniques;
●
risks are taken within the defined risk appetite approved by the Board of Directors;
●
strong involvement of the Bank’s management body in the risk management system and promotion of
risk culture, throughout the entire organizational structure, from the Board of Directors down to
operational teams;
●
clearly defined internal rules and procedures;
●
communication of information regarding risk management across the organization in a timely, accurate,
comprehensible and meaningful manner;
●
continuous supervision by an independent risk function to monitor risks and to enforce rules and
procedures.
The Group and Bank’s risk management is organized around two key principles:
●
risk assessment departments must be independent from the business divisions;
●
the risk management approach and risk monitoring must be consistent throughout the Group and Bank.
The Group and the Bank is exposed to the risks inherent to its core businesses. The main financial assets
and liabilities are the loans and advances, lease receivables, amounts placed with NBR, demand and term
deposits and borrowings. These instruments are exposed to a series of risks such as credit risk, foreign
exchange risk, interest rate risk, liquidity risk and market risk which are discussed below.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
108
45. Risk management (continued)
45.1 Credit risk
Credit risk represents current or future risk of negative impact on profits and capital arising from a debtor’s
failure to fulfil the contractual obligations or failure to perform as agreed. The credit risk is inherent to
traditional banking products - loans, commitments to lend and other contingent liabilities such as letters of
credit - and to fair value derivative contracts (refer to the Notes 7, 9, 10, 11 and 42).
The Group and Bank’s credit policy is based on the principle that approval of any credit risk undertaking
must rely on a sound knowledge of a given client and its business, an understanding of the purpose and
structure of the transaction and the sources of debt repayment. As part of Group Société Générale, the Bank
has a cash flow based lending approach, meaning the bank expects debt to be serviced primarily through
the future cash flow (legal entities)/income (individuals) generated by the client.
The Group and Bank assesses the quality of its Non-Retail portfolio by use of Société Générale’s rating
system, with a scale from 1 to 10 (1 to 7- in bonis exposures, 8 to 10 – defaulted exposures). Within the in
bonis portfolio, the most vulnerable counterparties are grouped into a distinct category (referred to as
sensitive, rating class 7) which is subject to increased monitoring requirements, to improve reactivity
through timely implementation of corrective measures.
The internal rating system is based on models that include both quantitative and qualitative assessment
criteria, differentiated by counterparty type and size, in which the expert judgment is a key element. Internal
models are developed based on the Group and Bank’s available data history and the use of rating model is
regulated by internal norms and procedures. Rating review is performed at least once per year, or as soon
as new and significant aspects impacting the credit quality of the counterparty occur. This process results
in the classification of exposures between sound, sensitive and non performing client status.
Throughout the post approval period, the monitoring of counterparties is conducted on a continuous basis,
so that potential vulnerabilities can be identified early and reacted upon. The outcome of monitoring activity
is analysed as an inherent responsibility of commercial and risk structures. Risky counterparties defined
according to internally prescribed criteria are closely monitored through dedicated committees, with the
aim of defining a strategy towards them and ensuring consistent rating and loss recognition.
Retail counterparties are assessed at origination, based on application scorecards and/or behavioral rating
models, and monitored throughout the lifespan of the loans using behavioral rating models.
Security, in the form of collateral (funded protection) or guarantee (unfunded protection), is accepted by
the Bank in order to mitigate credit risk and do not serve as a substitute for the borrower’s ability to meet
obligations. The collaterals accepted by the Bank in support of granted commitments primarily include real
estate, both residential and commercial, guarantees issued by other banks and guarantee funds, equipment
and inventories.
Concentration risk related to credit risk is managed primarily through a set of limits established based on
the Bank’s risk appetite and the expectations on the evolution of the economic environment. The limits are
monitored periodically and revised whenever necessary, but at least annually. The set of limits is related to
the following dimensions: individual concentration (single name or group of connected clients), economic
sector concentration, geographical concentration, concentration by product type/transaction type and credit
risk mitigations technique types.
The Bank has in place a process of continuous monitoring of exposure by concentration dimensions, set
out in the local normative guidelines, meant to prevent any excessive concentration.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
109
45. Risk management (continued)
45.1 Credit risk (continued)
Maximum exposure to credit risk before considering any collaterals or guarantees
Group | ||
Restated | ||
December 31, 2024 | December 31, 2023 | |
ASSETS | ||
6,202,796 | 9,768,409 | |
6,313,423 | 5,135,720 | |
1,842,562 | 2,135,709 | |
12,164,852 | 13,429,670 | |
54,812,982 | 46,277,069 | |
49,506,267 | 41,736,967 | |
(1,801,065) | (1,689,831) | |
47,705,202 | 40,047,136 | |
7,107,780 | 6,229,933 | |
Finance lease receivables | 2,023,475 | 1,691,734 |
Other financial assets | 256,192 | 310,598 |
Assets held for sale | - | 209,886 |
Total assets | 83,616,282 | 78,958,795 |
Letters of guarantee granted | 3,812,725 | 3,795,868 |
Financing commitments granted | 10,553,532 | 10,057,188 |
Total commitments | 14,366,257 | 13,853,056 |
Total credit | 97,982,539 | 92,811,851 |
Bank | ||
Restated | ||
December 31, 2024 | December 31, 2023 | |
ASSETS | ||
6,202,796 | 9,768,409 | |
6,313,423 | 5,120,355 | |
1,810,504 | 2,110,661 | |
12,164,852 | 13,429,670 | |
54,459,688 | 45,865,368 | |
49,114,810 | 41,311,129 | |
(1,762,902) | (1,675,694) | |
47,351,908 | 39,635,435 | |
7,107,780 | 6,229,933 | |
Other financial assets | 239,499 | 293,256 |
Total assets | 81,190,762 | 76,587,719 |
Letters of guarantee granted | 3,814,807 | 3,806,209 |
Financing commitments granted | 10,506,324 | 10,002,377 |
Total commitments | 14,321,131 | 13,808,586 |
Total credit | 95,511,893 | 90,396,305 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
Performance guarantees were included in “Financing commitments granted“ position in total amount of
3,954,091 as at December 31, 2024 for Group and Bank (3,133,601 as at December 31, 2023).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
110
45. Risk management (continued)
45.1 Credit risk (continued)
Analyses of the inputs to the ECL model is made under multiple economic scenarios
An overview of the approach to estimate ECLs is set out in Note 2 e) Significant accounting judgments and
estimates and Note 3 Material accounting policy information. Economic input data is obtained from a team
of economists in the Bank and Group Société Générale. To ensure accuracy and completeness, inputs are
corroborated with third party sources – economic forecasts issued by specialized institutions.
Expected losses are computed based on three macroeconomic scenarios, each with a corresponding weight:
optimistic (10%), baseline (56%) and stress scenario (34%) for year 2024. The weights for year 2023 were:
optimistic (10%), baseline (62%) and stress scenario (28%). The table below shows the values of the key
forward looking economic variables/ assumptions used in the base, optimistic and stress economic scenario
for the ECL calculation.
The Bank presents the estimation of key drivers for 2024 because these scenarios have produced effects
during the year and have been used in the computation of ECL as of December 31, 2024.
December, 31 2024
Key drivers
ECL Scenario
2025
2026
2027
Baseline/ Central
2.8
2.8
3.2
GDP growth [%]
Stress
-1.7
0.2
1.9
Optimistic
4.1
4.5
4.2
Baseline/ Central
5.4
5.2
5.0
Unemployment rate [%]
Stress
6.9
7.4
7.3
Optimistic
4.5
4.2
4.4
Baseline/ Central
5
5
5
Exchange rate RON/EUR [RON]
Stress
6.5
6.2
6.2
Optimistic
5
5
5
The sensitivity assessment of ECL to key inputs shows that a +/- 1 p.p. change in LGD would result in an
increase/ decrease of ECL with 36.4 million RON.
The sensitivity assessment of ECL to the macroeconomic scenarios used is described below:
• A change of +/- 1 p.p. of the optimistic scenario weight correlated with a -/+ 1 p.p. change in base
scenario weight, will generate an ECL increase/decrease of 0.3 million RON
• A change of +/- 1 p.p. of the pessimistic scenario weight correlated with a -/+ 1 p.p. change in base
scenario weight, will generate an ECL increase/decrease of 1.5 million RON.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
111
45. Risk management (continued)
45.1 Credit risk (continued)
Considering the internal rating quality, the exposures of the counterparties are split in 4 categories which
are defined below:
Very good
strong.
Good
counterparty is somewhat more sensitive to adverse changes in circumstances and economic conditions.
Standard grade
but more likely to be undermined by unfavourable economic conditions and changes in circumstances.
Sub-standard grade
increased credit risk. Timely debt service repayment is uncertain and depends on favourable economic and
financial conditions. Close and more frequent monitoring of the client’s capacity to service the bank debt
is needed, to be able to react to a potential deterioration via implementation of corrective measures.
Analysis of due from banks by credit rating
Group | Bank | |||
Restated | Restated | |||
2024 | 2023 | 2024 | 2023 | |
Internal rating grade | ||||
Very good | 6,302,164 | 5,092,954 | 6,302,164 | 5,077,589 |
Good grade | 9,133 | 38,888 | 9,133 | 38,888 |
Standard grade | 1,802 | 3,035 | 1,802 | 3,035 |
Not rated internally | 324 | 843 | 324 | 843 |
Total | 6,313,423 | 5,135,720 | 6,313,423 | 5,120,355 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
112
45. Risk management (continued)
45.1 Credit risk (continued)
Sector analysis of loans granted and impairment allowance
Group | ||||||||||
December 31, 2024 | ||||||||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | ||||||
Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | |
Individuals | 21,185,547 | 101,158 | 5,175,939 | 373,149 | 850,925 | 649,588 | 22,143 | 3,869 | 27,234,554 | 1,127,764 |
Agriculture, forestry and fishing | 1,567,201 | 31,548 | 337,487 | 24,302 | 52,916 | 31,033 | 47 | 0 | 1,957,651 | 86,883 |
Mining and quarrying | 26,106 | 407 | 320 | 11 | 0 | 0 | 0 | 0 | 26,426 | 418 |
Manufacturing | 3,294,366 | 56,008 | 166,943 | 14,250 | 48,684 | 38,643 | 2,553 | 919 | 3,512,546 | 109,820 |
Electricity, gas, steam and air conditioning | 1,225,085 | 18,634 | 41,914 | 57 | 295 | 170 | 0 | 0 | 1,267,294 | 18,861 |
Water supply | 117,403 | 2,041 | 33,843 | 1,184 | 645 | 432 | 0 | 0 | 151,891 | 3,657 |
Construction | 1,270,694 | 21,298 | 103,679 | 7,179 | 76,480 | 59,102 | 3,889 | 30 | 1,454,742 | 87,609 |
Wholesale and retail trade | 5,725,904 | 86,358 | 393,448 | 26,744 | 24,954 | 17,362 | 2,461 | 238 | 6,146,767 | 130,702 |
Transport and storage | 1,077,290 | 16,897 | 37,230 | 2,932 | 69,783 | 54,840 | 1,536 | 680 | 1,185,839 | 75,348 |
Accommodation and food service activities | 519,141 | 9,861 | 16,067 | 1,334 | 31,498 | 23,591 | 0 | 0 | 566,706 | 34,786 |
Information and communication | 876,667 | 14,424 | 3,608 | 266 | 1,338 | 853 | 0 | 0 | 881,613 | 15,543 |
Financial institutions | 748,469 | 12,911 | 2,957 | 198 | 308 | 200 | 0 | 0 | 751,734 | 13,309 |
Real estate activities | 480,134 | 9,778 | 15,138 | 595 | 19,677 | 19,087 | 22,444 | 22,388 | 537,393 | 51,848 |
Professional, scientific and technical activities | 356,570 | 2,381 | 24,219 | 2,027 | 5,360 | 3,717 | 0 | 0 | 386,149 | 8,125 |
Administrative and support service activities | 277,681 | 4,671 | 7,534 | 633 | 1,549 | 921 | 1,380 | 0 | 288,144 | 6,225 |
Public administration and defence, compulsory social security | 2,344,095 | 8,771 | 178 | 6 | 223 | 223 | 0 | 0 | 2,344,496 | 9,000 |
Education | 10,574 | 96 | 17,839 | 1,251 | 81 | 45 | 0 | 0 | 28,494 | 1,392 |
Human health services and social work activities | 599,491 | 11,300 | 24,324 | 2,622 | 1,831 | 1,409 | 0 | 0 | 625,646 | 15,331 |
Arts, entertainment and recreation | 63,939 | 1,204 | 2,581 | 285 | 632 | 434 | 0 | 0 | 67,152 | 1,923 |
Other services | 85,103 | 955 | 3,913 | 291 | 2,013 | 1,274 | 0 | 0 | 91,029 | 2,520 |
Total | 41,851,460 | 410,702 | 6,409,161 | 459,315 | 1,189,192 | 902,924 | 56,453 | 28,124 | 49,506,267 | 1,801,065 |
Loans to individuals include mortgage loans, consumer loans and overdrafts.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
113
45. Risk management (continued)
45.1 Credit risk (continued)
Sector analysis of loans granted and impairment allowance (continued)
Bank | ||||||||||
December 31, 2024 | ||||||||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | ||||||
Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | |
Individuals | 21,185,547 | 101,158 | 5,175,939 | 373,149 | 850,925 | 649,588 | 22,143 | 3,869 | 27,234,554 | 1,127,764 |
Agriculture, forestry and fishing | 1,545,227 | 31,465 | 228,174 | 18,003 | 13,220 | 8,042 | 47 | 0 | 1,786,668 | 57,510 |
Mining and quarrying | 26,106 | 407 | 320 | 11 | 0 | 0 | 0 | 0 | 26,426 | 418 |
Manufacturing | 3,291,430 | 55,996 | 165,961 | 14,202 | 48,684 | 38,643 | 2,553 | 919 | 3,508,628 | 109,760 |
Electricity, gas, steam and air conditioning | 1,225,085 | 18,634 | 41,914 | 57 | 295 | 170 | 0 | 0 | 1,267,294 | 18,861 |
Water supply | 117,071 | 2,039 | 33,843 | 1,184 | 620 | 421 | 0 | 0 | 151,534 | 3,644 |
Construction | 1,267,497 | 21,284 | 102,271 | 7,097 | 76,426 | 59,078 | 3,889 | 30 | 1,450,083 | 87,489 |
Wholesale and retail trade | 5,709,308 | 86,289 | 387,254 | 26,452 | 23,272 | 16,545 | 2,461 | 238 | 6,122,295 | 129,524 |
Transport and storage | 914,622 | 16,241 | 30,837 | 2,645 | 60,307 | 49,074 | 1,536 | 680 | 1,007,302 | 68,640 |
Accommodation and food service activities | 519,064 | 9,861 | 16,029 | 1,332 | 30,414 | 23,103 | 0 | 0 | 565,507 | 34,296 |
Information and communication | 876,289 | 14,422 | 3,608 | 266 | 1,338 | 853 | 0 | 0 | 881,235 | 15,541 |
Financial institutions | 748,469 | 12,911 | 2,957 | 198 | 308 | 200 | 0 | 0 | 751,734 | 13,309 |
Real estate activities | 480,056 | 9,778 | 15,138 | 595 | 19,677 | 19,087 | 22,444 | 22,388 | 537,315 | 51,848 |
Professional, scientific and technical activities | 352,826 | 2,365 | 24,081 | 2,021 | 5,106 | 3,604 | 0 | 0 | 382,013 | 7,990 |
Administrative and support service activities | 275,392 | 4,661 | 7,534 | 633 | 1,549 | 921 | 1,380 | 0 | 285,854 | 6,215 |
Public administration and defence, compulsory social security | 2,344,095 | 8,771 | 178 | 6 | 223 | 223 | 0 | 0 | 2,344,496 | 9,000 |
Education | 10,574 | 96 | 17,839 | 1,251 | 81 | 45 | 0 | 0 | 28,494 | 1,392 |
Human health services and social work activities | 599,491 | 11,300 | 24,324 | 2,622 | 1,831 | 1,409 | 0 | 0 | 625,646 | 15,331 |
Arts, entertainment and recreation | 63,939 | 1,204 | 2,581 | 285 | 632 | 434 | 0 | 0 | 67,152 | 1,923 |
Other services | 84,950 | 956 | 3,913 | 291 | 1,716 | 1,200 | 0 | 0 | 90,579 | 2,447 |
Total | 41,637,039 | 409,838 | 6,284,694 | 452,300 | 1,136,624 | 872,640 | 56,453 | 28,124 | 49,114,810 | 1,762,902 |
Loans to individuals include mortgage loans, consumer loans and overdrafts.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
114
45. Risk management (continued)
45.1 Credit risk (continued)
Sector analysis of loans granted and impairment allowance (continued)
Group | December 31, 2023 Restated | |||||||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | ||||||
Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | |
Individuals | 17,267,881 | 133,122 | 6,341,473 | 428,861 | 737,356 | 551,528 | 24,567 | 3,987 | 24,371,277 | 1,117,498 |
Agriculture, forestry and fishing | 1,458,670 | 31,330 | 208,784 | 19,760 | 17,205 | 9,961 | 0 | 0 | 1,684,659 | 61,051 |
Mining and quarrying | 25,271 | 463 | 537 | 38 | 0 | 0 | 0 | 0 | 25,808 | 501 |
Manufacturing | 2,760,480 | 50,555 | 152,231 | 11,220 | 23,332 | 19,164 | 2,381 | 153 | 2,938,424 | 81,092 |
Electricity, gas, steam and air conditioning | 1,263,339 | 18,885 | 377,223 | 20,164 | 2,608 | 501 | 0 | 0 | 1,643,170 | 39,550 |
Water supply | 174,607 | 2,784 | 7,236 | 772 | 352 | 196 | 0 | 0 | 182,195 | 3,752 |
Construction | 1,174,078 | 24,339 | 49,068 | 3,952 | 49,192 | 38,329 | 0 | 0 | 1,272,338 | 66,620 |
Wholesale and retail trade | 4,554,877 | 77,528 | 184,422 | 16,159 | 7,941 | 6,064 | 9,827 | 743 | 4,757,067 | 100,494 |
Transport and storage | 841,971 | 15,281 | 39,894 | 2,937 | 51,150 | 39,463 | 74 | 67 | 933,089 | 57,747 |
Accommodation and food service activities | 325,500 | 6,649 | 18,207 | 1,581 | 36,674 | 26,237 | 0 | 0 | 380,381 | 34,467 |
Information and communication | 453,317 | 6,975 | 2,486 | 67 | 4,158 | 2,378 | 0 | 0 | 459,961 | 9,420 |
Financial institutions | 845,205 | 13,448 | 206 | 12 | 75 | 62 | 0 | 0 | 845,486 | 13,522 |
Real estate activities | 551,834 | 11,689 | 14,435 | 775 | 34,744 | 29,925 | 22,144 | 22,143 | 623,157 | 64,532 |
Professional, scientific and technical activities | 121,703 | 1,236 | 11,926 | 1,026 | 3,625 | 2,717 | 0 | 0 | 137,254 | 4,978 |
Administrative and support service activities | 168,359 | 3,143 | 10,450 | 575 | 485 | 336 | 1,561 | 470 | 180,855 | 4,524 |
Public administration and defence, compulsory social security | 637,613 | 7,893 | 1,810 | 176 | 2,993 | 2,951 | 0 | 0 | 642,416 | 11,020 |
Education | 17,470 | 275 | 20,692 | 1,926 | 0 | 0 | 0 | 0 | 38,162 | 2,201 |
Human health services and social work activities | 471,991 | 12,090 | 15,382 | 1,193 | 1,293 | 693 | 0 | 0 | 488,666 | 13,976 |
Arts, entertainment and recreation | 63,909 | 1,362 | 1,912 | 155 | 156 | 88 | 0 | 0 | 65,977 | 1,605 |
Other services | 63,619 | 971 | 2,837 | 207 | 169 | 101 | 0 | 0 | 66,625 | 1,279 |
Total | 33,241,694 | 420,018 | 7,461,211 | 511,556 | 973,508 | 730,694 | 60,554 | 27,563 | 41,736,967 | 1,689,831 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details,
please refer to note 2 a).
Loans to individuals include mortgage loans, consumer loans and overdrafts.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
115
45. Risk management (continued)
45.1 Credit risk (continued)
Sector analysis of loans granted and impairment allowance (continued)
Bank | December 31, 2023 Restated | |||||||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | ||||||
Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | Gross carrying amount | Impairment allowance | |
Individuals | 17,267,881 | 133,122 | 6,341,473 | 428,861 | 737,356 | 551,528 | 24,567 | 3,987 | 24,371,277 | 1,117,498 |
Agriculture, forestry and fishing | 1,305,071 | 30,597 | 140,626 | 16,004 | 8,412 | 5,331 | 0 | 0 | 1,454,109 | 51,932 |
Mining and quarrying | 25,271 | 463 | 537 | 38 | 0 | 0 | 0 | 0 | 25,808 | 501 |
Manufacturing | 2,757,975 | 50,544 | 151,326 | 11,176 | 23,332 | 19,164 | 2,381 | 153 | 2,935,014 | 81,037 |
Electricity, gas, steam and air conditioning | 1,263,339 | 18,885 | 377,223 | 20,164 | 2,608 | 501 | 0 | 0 | 1,643,170 | 39,550 |
Water supply | 174,312 | 2,783 | 7,236 | 772 | 274 | 161 | 0 | 0 | 181,822 | 3,716 |
Construction | 1,172,880 | 24,333 | 46,619 | 3,833 | 49,042 | 38,262 | 0 | 0 | 1,268,541 | 66,428 |
Wholesale and retail trade | 4,531,240 | 77,418 | 178,744 | 15,875 | 7,417 | 5,785 | 9,827 | 743 | 4,727,228 | 99,821 |
Transport and storage | 702,233 | 14,670 | 28,972 | 2,398 | 46,714 | 36,717 | 74 | 67 | 777,993 | 53,852 |
Accommodation and food service activities | 325,500 | 6,649 | 16,885 | 1,502 | 36,674 | 26,237 | 0 | 0 | 379,059 | 34,388 |
Information and communication | 453,317 | 6,975 | 2,486 | 67 | 4,158 | 2,378 | 0 | 0 | 459,961 | 9,420 |
Financial institutions | 850,149 | 13,448 | 206 | 12 | 75 | 62 | 0 | 0 | 850,430 | 13,522 |
Real estate activities | 551,834 | 11,689 | 14,328 | 770 | 34,744 | 29,925 | 22,144 | 22,143 | 623,050 | 64,527 |
Professional, scientific and technical activities | 119,051 | 1,223 | 11,223 | 984 | 3,625 | 2,717 | 0 | 0 | 133,899 | 4,924 |
Administrative and support service activities | 165,621 | 3,131 | 10,450 | 575 | 485 | 336 | 1,561 | 470 | 178,117 | 4,512 |
Public administration and defence, compulsory social security | 637,613 | 7,893 | 1,810 | 176 | 2,993 | 2,951 | 0 | 0 | 642,416 | 11,020 |
Education | 17,470 | 275 | 20,692 | 1,926 | 0 | 0 | 0 | 0 | 38,162 | 2,201 |
Human health services and social work activities | 471,991 | 12,090 | 15,382 | 1,193 | 1,293 | 693 | 0 | 0 | 488,666 | 13,976 |
Arts, entertainment and recreation | 63,909 | 1,362 | 1,912 | 155 | 156 | 88 | 0 | 0 | 65,977 | 1,605 |
Other services | 63,618 | 968 | 2,643 | 195 | 169 | 101 | 0 | 0 | 66,430 | 1,264 |
Total | 32,920,275 | 418,518 | 7,370,773 | 506,676 | 959,527 | 722,937 | 60,554 | 27,563 | 41,311,129 | 1,675,694 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details,
please refer to note 2 a).
Loans to individuals include mortgage loans, consumer loans and overdrafts.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
116
45. Risk management (continued)
45.1 Credit risk (continued)
Analysis of collateral coverage – Loans and advances
Group | ||||
December 31, 2024 | ||||
exposure | Collaterals & Guarantees | Under-collateralized exposure | Collaterals & Guarantees | |
Non-retail lending | 2,563,722 | 5,439,452 | 17,827,322 | 3,468,394 |
Retail lending | 16,766,491 | 32,870,793 | 12,348,732 | 746,309 |
408,541 | 862,330 | 1,471,450 | 503,679 | |
7,184 | 26,062 | 10,566,646 | 1,740 | |
16,350,766 | 31,982,401 | 310,636 | 240,890 | |
Total | 19,330,213 | 38,310,245 | 30,176,054 | 4,214,703 |
out of which non-performing | ||||
Non-retail lending | 121,989 | 262,342 | 158,560 | 75,290 |
Retail lending | 324,571 | 824,842 | 597,881 | 20,251 |
7,521 | 22,350 | 54,867 | 10,617 | |
1,252 | 1,420 | 530,502 | 65 | |
315,798 | 801,072 | 12,512 | 9,569 | |
Total | 446,560 | 1,087,184 | 756,441 | 95,541 |
December 31, 2023 | ||||
Restated | exposure | Collaterals & Guarantees | Under-collateralized exposure | Collaterals & Guarantees |
Non-retail lending | 1,978,983 | 4,551,097 | 13,877,804 | 2,453,984 |
Retail lending | 15,545,644 | 29,060,659 | 10,334,537 | 516,934 |
379,595 | 836,057 | 1,127,996 | 303,850 | |
10,485 | 34,126 | 8,939,305 | 1,480 | |
15,155,564 | 28,190,476 | 267,236 | 211,604 | |
Total | 17,524,627 | 33,611,756 | 24,212,341 | 2,970,918 |
out of which non-performing | ||||
Non-retail lending | 127,244 | 292,803 | 99,192 | 57,139 |
Retail lending | 300,725 | 750,177 | 473,688 | 23,768 |
5,209 | 21,414 | 22,714 | 8,793 | |
1,131 | 1,786 | 430,290 | 79 | |
294,385 | 726,977 | 20,684 | 14,896 | |
Total | 427,969 | 1,042,980 | 572,880 | 80,907 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
117
45. Risk management (continued)
45.1 Credit risk (continued)
Analysis of collateral coverage – Loans and advances (continued)
Bank | ||||
December 31, 2024 | ||||
exposure | Collaterals & Guarantees | Under-collateralized exposure | Collaterals & Guarantees | |
Non-retail lending | 2,335,050 | 5,041,036 | 17,815,722 | 3,466,342 |
Retail lending | 16,631,084 | 32,618,222 | 12,332,955 | 734,905 |
273,674 | 609,759 | 1,455,673 | 492,275 | |
7,184 | 26,062 | 10,566,646 | 1,740 | |
16,350,226 | 31,982,401 | 310,636 | 240,890 | |
Total | 18,966,134 | 37,659,258 | 30,148,677 | 4,201,247 |
out of which non-performing | ||||
Non-retail lending | 106,890 | 228,637 | 147,146 | 73,238 |
Retail lending | 324,571 | 824,842 | 597,881 | 20,251 |
7,521 | 22,350 | 54,867 | 10,617 | |
1,252 | 1,420 | 530,502 | 65 | |
315,798 | 801,072 | 12,512 | 9,569 | |
Total | 431,461 | 1,053,479 | 745,027 | 93,489 |
December 31, 2023 | ||||
Restated | exposure | Collaterals & Guarantees | Under-collateralized exposure | Collaterals & Guarantees |
Non-retail lending | 1,761,139 | 4,185,246 | 13,856,764 | 2,430,292 |
Retail lending | 15,377,769 | 28,768,006 | 10,315,457 | 501,057 |
213,023 | 543,404 | 1,108,916 | 287,973 | |
10,485 | 34,126 | 8,939,305 | 1,480 | |
15,154,261 | 28,190,476 | 267,236 | 211,604 | |
Total | 17,138,908 | 32,953,252 | 24,172,221 | 2,931,349 |
out of which non-performing | ||||
Non-retail lending | 124,652 | 287,135 | 98,937 | 57,139 |
Retail lending | 300,725 | 750,177 | 473,688 | 23,768 |
5,209 | 21,414 | 22,714 | 8,793 | |
1,131 | 1,786 | 430,290 | 79 | |
294,385 | 726,977 | 20,684 | 14,896 | |
Total | 425,377 | 1,037,312 | 572,625 | 80,907 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
118
45. Risk management (continued)
45.1 Credit risk (continued)
Analysis of collateral coverage for finance lease receivables
December 31, 2024 | ||||
exposure | Collaterals & Guarantees | Under-collateralized exposure | Collaterals & Guarantees | |
1,289,367 | 1,856,739 | 76,376 | 45,622 | |
733,122 | 1,155,246 | 13,413 | 8,321 | |
733,122 | 1,155,246 | 13,363 | 8,321 | |
- | - | 50 | - | |
Total | 2,022,489 | 3,011,985 | 89,789 | 53,943 |
December 31, 2023 | ||||
exposure | Collaterals & Guarantees | Under-collateralized exposure | Collaterals & Guarantees | |
1,057,804 | 1,563,964 | 81,709 | 52,595 | |
629,044 | 1,008,969 | 16,949 | 6,258 | |
629,044 | 1,008,969 | 16,899 | 6,258 | |
- | - | 50 | - | |
Total | 1,686,848 | 2,572,933 | 98,658 | 58,853 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
119
45. Risk management (continued)
45.1 Credit risk (continued)
Rating analysis of loans
Group | Retail lending | ||||
December 31, 2024 | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Internal rating grade | |||||
Very good grade | 15,768,153 | 57,012 | - | - | 15,825,165 |
Good grade | 4,994,898 | 3,352,984 | - | - | 8,347,882 |
Standard grade | 1,803,961 | 1,390,142 | - | - | 3,194,103 |
Sub-standard grade | - | 660,766 | - | 13,018 | 673,784 |
Non- | - | - | 913,024 | 9,428 | 922,452 |
- | - | 11,944 | 681 | 12,625 | |
Not rated internally | 36,375 | 89,410 | 26,052 | - | 151,837 |
Total | 22,603,387 | 5,550,314 | 939,076 | 22,446 | 29,115,223 |
ECL allowance | |||||
Internal rating grade | |||||
Very good grade | (44,639) | (610) | - | - | (45,249) |
Good grade | (31,103) | (85,005) | - | - | (116,108) |
Standard grade | (37,868) | (149,956) | - | - | (187,824) |
Sub-standard grade | - | (160,090) | - | (103) | (160,193) |
Non- | - | - | (692,691) | (4,004) | (696,695) |
- | - | (10,458) | (326) | (10,784) | |
Not rated internally | (189) | (5,476) | (13,879) | - | (19,544) |
Total | (113,799) | (401,137) | (706,570) | (4,107) | (1,225,613) |
Net Carying amount | 22,489,588 | 5,149,177 | 232,506 | 18,339 | 27,889,610 |
Non-Retail lending | |||||
December 31, 2024 | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Internal rating grade | |||||
Good grade | 14,128,391 | 135,658 | - | - | 14,264,049 |
Standard grade | 5,119,681 | 59,745 | - | - | 5,179,426 |
Sub-standard grade | - | 663,444 | - | 3,574 | 667,018 |
Non- | - | - | 250,116 | 30,434 | 280,550 |
- | - | 189,267 | 30,375 | 219,642 | |
Total | 19,248,072 | 858,847 | 250,116 | 34,008 | 20,391,043 |
ECL allowance | |||||
Internal rating grade | |||||
Good grade | (193,425) | (2,745) | - | - | (196,170) |
Standard grade | (103,478) | (3,287) | - | - | (106,765) |
Sub-standard grade | - | (52,146) | - | - | (52,146) |
Non- | - | - | (196,354) | (24,016) | (220,370) |
- | - | (158,107) | (23,970) | (182,077) | |
Total | (296,903) | (58,178) | (196,354) | (24,016) | (575,451) |
Net Carying amount | 18,951,169 | 800,669 | 53,762 | 9,992 | 19,815,592 |
Total | |||||
December 31, 2024 | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Internal rating grade | |||||
Very good grade | 15,768,153 | 57,012 | - | - | 15,825,165 |
Good grade | 19,123,290 | 3,488,642 | - | - | 22,611,932 |
Standard grade | 6,923,643 | 1,449,887 | - | - | 8,373,530 |
Sub-standard grade | - | 1,324,210 | - | 16,592 | 1,340,802 |
Non- | - | - | 1,163,140 | 39,862 | 1,203,002 |
- | - | 201,211 | 31,056 | 232,267 | |
Not rated internally | 36,374 | 89,410 | 26,052 | - | 151,836 |
Total | 41,851,460 | 6,409,161 | 1,189,192 | 56,454 | 49,506,267 |
ECL allowance | |||||
Internal rating grade | |||||
Very good grade | (44,639) | (610) | - | - | (45,249) |
Good grade | (224,528) | (87,750) | - | - | (312,278) |
Standard grade | (141,346) | (153,243) | - | - | (294,589) |
Sub-standard grade | - | (212,236) | - | (103) | (212,339) |
Non- | - | - | (889,044) | (28,021) | (917,065) |
- | - | (168,566) | (24,295) | (192,861) | |
Not rated internally | (190) | (5,476) | (13,879) | - | (19,545) |
Total | (410,703) | (459,315) | (902,923) | (28,124) | (1,801,065) |
Net Carying amount | 41,440,757 | 5,949,846 | 286,269 | 28,330 | 47,705,202 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
120
45. Risk management (continued)
45.1 Credit risk (continued)
Rating analysis of loans (continued)
Bank | Retail lending | ||||
December 31, 2024 | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Internal rating grade | |||||
Very good grade | 15,768,152 | 57,012 | - | - | 15,825,164 |
Good grade | 4,994,898 | 3,352,984 | - | - | 8,347,882 |
Standard grade | 1,803,961 | 1,390,142 | - | - | 3,194,103 |
Sub-standard grade | - | 660,766 | - | 13,018 | 673,784 |
Non- | - | - | 913,024 | 9,428 | 922,452 |
- | - | 11,944 | 681 | 12,625 | |
Not rated internally | 653 | - | - | - | 653 |
Total | 22,567,664 | 5,460,904 | 913,024 | 22,446 | 28,964,038 |
ECL allowance | |||||
Internal rating grade | |||||
Very good grade | (44,639) | (610) | - | - | (45,249) |
Good grade | (31,103) | (85,005) | - | - | (116,108) |
Standard grade | (37,868) | (149,956) | - | - | (187,824) |
Sub-standard grade | - | (160,090) | - | (103) | (160,193) |
Non- | - | - | (692,691) | (4,004) | (696,695) |
- | - | (10,458) | (326) | (10,784) | |
Total | (113,610) | (395,661) | (692,691) | (4,107) | (1,206,069) |
Net Carying amount | 22,454,054 | 5,065,243 | 220,333 | 18,339 | 27,757,969 |
Non-Retail lending | |||||
December 31, 2024 | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Internal rating grade | |||||
Good grade | 14,014,487 | 133,130 | - | - | 14,147,617 |
Standard grade | 5,054,884 | 39,508 | - | - | 5,094,392 |
Sub-standard grade | - | 651,154 | - | 3,574 | 654,728 |
Non- | - | - | 223,601 | 30,434 | 254,035 |
- | - | 189,267 | 30,375 | 219,642 | |
Total | 19,069,371 | 823,792 | 223,601 | 34,008 | 20,150,772 |
ECL allowance | |||||
Internal rating grade | |||||
Good grade | (192,995) | (2,635) | - | - | (195,630) |
Standard grade | (103,233) | (2,395) | - | - | (105,628) |
Sub-standard grade | - | (51,610) | - | - | (51,610) |
Non- | - | - | (179,949) | (24,017) | (203,966) |
- | - | (158,107) | (23,970) | (182,077) | |
Total | (296,228) | (56,640) | (179,949) | (24,017) | (556,834) |
Net Carying amount | 18,773,143 | 767,152 | 43,652 | 9,991 | 19,593,938 |
Total | |||||
December 31, 2024 | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Internal rating grade | |||||
Very good grade | 15,768,151 | 57,012 | - | - | 15,825,163 |
Good grade | 19,009,385 | 3,486,114 | - | - | 22,495,499 |
Standard grade | 6,858,846 | 1,429,649 | - | - | 8,288,495 |
Sub-standard grade | - | 1,311,920 | - | 16,592 | 1,328,512 |
Non- | - | - | 1,136,626 | 39,862 | 1,176,488 |
- | - | 201,211 | 31,056 | 232,267 | |
Not rated internally | 653 | - | - | - | 653 |
Total | 41,637,035 | 6,284,695 | 1,136,626 | 56,454 | 49,114,810 |
ECL allowance | |||||
Internal rating grade | |||||
Very good grade | (44,639) | (610) | - | - | (45,249) |
Good grade | (224,097) | (87,640) | - | - | (311,737) |
Standard grade | (141,101) | (152,351) | - | - | (293,452) |
Sub-standard grade | - | (211,700) | - | (103) | (211,803) |
Non- | - | - | (872,640) | (28,021) | (900,661) |
- | - | (168,566) | (24,295) | (192,861) | |
Total | (409,837) | (452,301) | (872,640) | (28,124) | (1,762,902) |
Net Carying amount | 41,227,198 | 5,832,394 | 263,986 | 28,330 | 47,351,908 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
121
45. Risk management (continued)
45.1 Credit risk (continued)
Rating analysis of loans (continued)
Group | Retail lending | ||||
December 31, 2023 Restated | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Very good | 10,396,982 | 7,948 | - | - | 10,404,930 |
Good grade | 6,530,116 | 4,239,029 | - | - | 10,769,145 |
Standard grade | 1,473,739 | 1,533,399 | - | - | 3,007,138 |
Sub-standard grade | - | 721,628 | - | 15,437 | 737,065 |
Non- | - | - | 765,104 | 9,309 | 774,413 |
- | - | 13,013 | 224 | 13,237 | |
Not rated internally | 134,790 | 41,567 | 11,134 | - | 187,491 |
Total | 18,535,627 | 6,543,571 | 776,238 | 24,746 | 25,880,182 |
ECL allowance | |||||
Very good | (53,161) | (104) | - | - | (53,265) |
Good grade | (50,174) | (96,320) | - | - | (146,494) |
Standard grade | (38,873) | (164,082) | - | - | (202,955) |
Sub-standard grade | - | (180,061) | - | (96) | (180,157) |
Non- | - | - | (572,290) | (3,909) | (576,199) |
- | - | (11,836) | (224) | (12,060) | |
Not rated internally | (698) | (2,491) | (6,528) | - | (9,717) |
Total | (142,906) | (443,058) | (578,818) | (4,005) | (1,168,787) |
Net Carying amount | 18,392,721 | 6,100,513 | 197,420 | 20,741 | 24,711,395 |
Non-Retail lending | |||||
December 31, 2023 Restated | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Good grade | 9,713,830 | 464,256 | - | - | 10,178,086 |
Standard grade | 4,992,238 | 99,956 | - | - | 5,092,194 |
Sub-standard grade | - | 353,428 | - | 6,643 | 360,071 |
Non- | - | - | 197,271 | 29,166 | 226,437 |
- | - | 174,952 | 29,091 | 204,043 | |
Total | 14,706,068 | 917,640 | 197,271 | 35,809 | 15,856,788 |
ECL allowance | |||||
Good grade | (158,349) | (23,983) | - | - | (182,332) |
Standard grade | (118,763) | (7,484) | - | - | (126,247) |
Sub-standard grade | - | (37,034) | - | (3) | (37,037) |
Non- | - | - | (151,877) | (23,554) | (175,431) |
- | - | (136,955) | (23,487) | (160,442) | |
Total | (277,112) | (68,501) | (151,877) | (23,557) | (521,047) |
Net Carying amount | 14,428,956 | 849,139 | 45,394 | 12,252 | 15,335,741 |
Total | |||||
December 31, 2023 Restated | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Very good | 10,396,982 | 7,948 | - | - | 10,404,930 |
Good grade | 16,243,946 | 4,703,285 | - | - | 20,947,231 |
Standard grade | 6,465,977 | 1,633,354 | - | - | 8,099,331 |
Sub-standard grade | - | 1,075,056 | - | 22,080 | 1,097,136 |
Non- | - | - | 962,375 | 38,475 | 1,000,850 |
- | - | 187,966 | 29,315 | 217,281 | |
Not rated internally | 134,787 | 41,567 | 11,134 | - | 187,488 |
Total | 33,241,692 | 7,461,210 | 973,509 | 60,555 | 41,736,966 |
ECL allowance | |||||
Very good | (53,161) | (104) | - | - | (53,265) |
Good grade | (208,522) | (120,303) | - | - | (328,825) |
Standard grade | (157,635) | (171,566) | - | - | (329,201) |
Sub-standard grade | - | (217,095) | - | (99) | (217,194) |
Non- | - | - | (724,166) | (27,462) | (751,628) |
- | - | (148,791) | (23,711) | (172,502) | |
Not rated internally | (698) | (2,491) | (6,528) | - | (9,717) |
Total | (420,016) | (511,559) | (730,694) | (27,561) | (1,689,830) |
Net Carying amount | 32,821,676 | 6,949,651 | 242,815 | 32,994 | 40,047,136 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
122
45. Risk management (continued)
45.1 Credit risk (continued)
Rating analysis of loans (continued)
Bank | Retail lending | ||||
December 31, 2023 Restated | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Very good | 10,396,982 | 7,948 | - | - | 10,404,930 |
Good grade | 6,530,116 | 4,239,029 | - | - | 10,769,145 |
Standard grade | 1,473,739 | 1,533,399 | - | - | 3,007,138 |
Sub-standard grade | - | 721,628 | - | 15,437 | 737,065 |
Non- | - | - | 765,104 | 9,309 | 774,413 |
- | - | 13,013 | 224 | 13,237 | |
Not rated internally | 535 | - | - | - | 535 |
Total | 18,401,372 | 6,502,004 | 765,104 | 24,746 | 25,693,226 |
ECL allowance | |||||
Very good | (53,161) | (104) | - | - | (53,265) |
Good grade | (50,174) | (96,320) | - | - | (146,494) |
Standard grade | (38,873) | (164,082) | - | - | (202,955) |
Sub-standard grade | - | (180,061) | - | (96) | (180,157) |
Non- | - | - | (572,290) | (3,909) | (576,199) |
- | - | (11,836) | (224) | (12,060) | |
Total | (142,208) | (440,567) | (572,290) | (4,005) | (1,159,070) |
Net Carying amount | 18,259,164 | 6,061,437 | 192,814 | 20,741 | 24,534,156 |
Non-Retail lending | |||||
December 31, 2023 Restated | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Good grade | 9,654,783 | 457,398 | - | - | 10,112,181 |
Standard grade | 4,864,118 | 70,541 | - | - | 4,934,659 |
Sub-standard grade | - | 340,831 | - | 6,643 | 347,474 |
Non- | - | - | 194,424 | 29,166 | 223,590 |
- | - | 174,952 | 29,091 | 204,043 | |
Total | 14,518,901 | 868,770 | 194,424 | 35,809 | 15,617,904 |
ECL allowance | |||||
Good grade | (158,082) | (23,648) | - | - | (181,730) |
Standard grade | (118,230) | (6,045) | - | - | (124,275) |
Sub-standard grade | - | (36,417) | - | (3) | (36,420) |
Non- | - | - | (150,647) | (23,554) | (174,201) |
- | - | (136,955) | (23,487) | (160,442) | |
Total | (276,312) | (66,110) | (150,647) | (23,557) | (516,626) |
Net Carying amount | 14,242,589 | 802,660 | 43,777 | 12,252 | 15,101,278 |
Total | |||||
December 31, 2023 Restated | |||||
Stage 1 | Stage 2 | Stage 3 | POCI | Total | |
Gross carrying amount | |||||
Very good | 10,396,982 | 7,948 | - | - | 10,404,930 |
Good grade | 16,184,899 | 4,696,426 | - | - | 20,881,325 |
Standard grade | 6,337,856 | 1,603,940 | - | - | 7,941,796 |
Sub-standard grade | - | 1,062,459 | - | 22,080 | 1,084,539 |
Non- | - | - | 959,528 | 38,475 | 998,003 |
- | - | 187,966 | 29,315 | 217,281 | |
Not rated internally | 535 | - | - | - | 535 |
Total | 32,920,272 | 7,370,773 | 959,528 | 60,555 | 41,311,128 |
ECL allowance | |||||
Very good | (53,160) | (104) | - | - | (53,264) |
Good grade | (208,255) | (119,968) | - | - | (328,223) |
Standard grade | (157,103) | (170,127) | - | - | (327,230) |
Sub-standard grade | - | (216,479) | - | (99) | (216,578) |
Non- | - | - | (722,936) | (27,462) | (750,398) |
- | - | (148,791) | (23,711) | (172,502) | |
Total | (418,518) | (506,678) | (722,936) | (27,561) | (1,675,693) |
Net Carying amount | 32,501,754 | 6,864,095 | 236,592 | 32,994 | 39,635,435 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been
re-classified accordingly. For more details, please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
123
45. Risk management (continued)
45.1 Credit risk (continued)
Rating analysis of Finance Lease receivables
Retail | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Gross carrying amount | ||||
Not rated internally | 589,277 | 82,285 | 74,971 | 746,533 |
Total | 589,277 | 82,285 | 74,971 | 746,533 |
ECL allowance | (3,162) | (5,062) | (31,909) | (40,133) |
Net Carying amount | 586,115 | 77,223 | 43,062 | 706,400 |
Non-Retail | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Gross carrying amount | ||||
Internal rating grade | ||||
Good grade | 718,715 | 27,758 | - | 746,473 |
Standard grade | 433,975 | 65,224 | - | 499,199 |
Sub-standard grade | - | 44,725 | - | 44,725 |
Non- | - | - | 65,436 | 65,436 |
Not rated internally | - | 9,451 | 459 | 9,910 |
Total | 1,152,690 | 147,158 | 65,895 | 1,365,743 |
ECL allowance | (4,327) | (6,397) | (37,944) | (48,668) |
Net Carying amount | 1,148,363 | 140,761 | 27,951 | 1,317,075 |
Total | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Gross carrying amount | ||||
Internal rating grade | ||||
Good grade | 718,715 | 27,758 | - | 746,473 |
Standard grade | 433,975 | 65,223 | - | 499,198 |
Sub-standard grade | - | 44,725 | - | 44,725 |
Non- | - | - | 65,436 | 65,436 |
Not rated internally | 589,277 | 91,736 | 75,431 | 756,444 |
Total | 1,741,967 | 229,442 | 140,867 | 2,112,276 |
ECL allowance | (7,489) | (11,459) | (69,853) | (88,801) |
Net Carying amount | 1,734,478 | 217,984 | 71,014 | 2,023,475 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
124
45. Risk management (continued)
45.1 Credit risk (continued)
Rating analysis of Finance Lease receivables:
Retail | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Gross carrying amount | ||||
Not rated internally | 472,694 | 115,322 | 57,978 | 645,994 |
Total | 472,694 | 115,322 | 57,978 | 645,994 |
ECL allowance | (2,505) | (6,940) | (25,267) | (34,712) |
Net Carying amount | 470,189 | 108,382 | 32,711 | 611,282 |
Non-Retail | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Gross carrying amount | ||||
Internal rating grade | ||||
Good grade | 379,509 | 56,363 | - | 435,872 |
Standard grade | 465,656 | 132,466 | - | 598,122 |
Sub-standard grade | - | 34,400 | - | 34,400 |
Non- | - | - | 62,956 | 62,956 |
Not rated internally | - | 7,584 | 580 | 8,164 |
Total | 845,165 | 230,813 | 63,536 | 1,139,514 |
ECL allowance | (3,486) | (11,214) | (44,360) | (59,060) |
Net Carying amount | 841,679 | 219,599 | 19,176 | 1,080,454 |
Total | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Gross carrying amount | ||||
Internal rating grade | ||||
Good grade | 379,509 | 56,363 | - | 435,872 |
Standard grade | 465,656 | 132,466 | - | 598,122 |
Sub-standard grade | - | 34,400 | - | 34,400 |
Non- | - | - | 62,956 | 62,956 |
Not rated internally | 472,693 | 122,905 | 58,558 | 654,156 |
Total | 1,317,858 | 346,134 | 121,514 | 1,785,506 |
ECL allowance | (5,992) | (18,154) | (69,626) | (93,772) |
Net Carying amount | 1,311,866 | 327,980 | 51,888 | 1,691,734 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
125
45. Risk management (continued)
45.1 Credit risk (continued)
Guarantees and other credit commitments
Guarantees and letters of credit
The Group and Bank issues guarantees and letters of credit for its customers. The primary purpose of letters
of credit is to ensure that funds are available to a customer as required. Guarantees and standby letters of
credit, which represent irrevocable assurances that the Group and Bank will make payments in the event
that a customer cannot meet its obligations (delivery of goods, documents submitting, etc.) to third parties
with which it entered previously into a contractual relationship, carry a similar credit risk as loans once they
are executed.
The market and credit risks on these financial instruments, as well as the operational risk are similar to
those arising from granting of loans. In the event of a claim on the Group and Bank as a result of a
customer’s default on a guarantee these instruments also present a degree of liquidity risk to the Group and
Bank.
Credit related commitments
Financing commitments represent unused amounts of approved credit facilities.
The Group and Bank monitors the term to maturity of credit commitments because longer-term
commitments generally have a greater degree of credit risk than shorter-term commitments. The total
outstanding contractual amount of commitments does not necessarily represent future cash requirements
since many of these commitments will expire or be terminated without being funded.
Group | Bank | |||
Restated | Restated | |||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |
Letters of guarantee granted | 3,812,725 | 3,795,868 | 3,814,807 | 3,806,209 |
Financing commitments granted | 10,553,532 | 10,057,188 | 10,506,324 | 10,002,377 |
Total commitments | 14,366,257 | 13,853,056 | 14,321,131 | 13,808,586 |
Uncommitted facilities granted | 12,534,451 | 11,600,816 | 12,569,814 | 11,641,240 |
Letters of guarantee received | 32,614,640 | 28,441,140 | 32,614,640 | 28,441,140 |
Total commitments | 32,614,640 | 28,441,140 | 32,614,640 | 28,441,140 |
Performance guarantees were included in “Financing commitments granted“ position in total amount of
3,954,091 as at December 31, 2024 for Group and Bank (3,133,601 as at December 31, 2023).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
126
45. Risk management (continued)
45.1 Credit risk (continued)
Guarantees and other credit commitments (continued)
Credit quality analysis of commitments granted
Group | ||||
Retail | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,644,568 | 1,190 | 0 | 1,645,758 |
Good grade | 611,054 | 39,811 | 0 | 650,865 |
Standard grade | 104,796 | 22,535 | 0 | 127,331 |
Sub-standard grade | 59 | 11,217 | 0 | 11,276 |
Non- | 0 | 0 | 7,768 | 7,768 |
Not rated internally | 10,279 | 1,267 | 0 | 11,546 |
Total commitments | 2,370,755 | 76,020 | 7,768 | 2,454,543 |
Non-retail | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Good grade | 9,169,203 | 705,245 | - | 9,874,448 |
Standard grade | 1,587,909 | 220,779 | - | 1,808,688 |
Sub-standard grade | - | 103,875 | - | 103,875 |
Non- | - | - | 124,702 | 124,702 |
Total commitments | 10,757,112 | 1,029,899 | 124,702 | 11,911,713 |
Total | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,644,568 | 1,190 | - | 1,645,758 |
Good grade | 9,780,257 | 745,056 | - | 10,525,313 |
Standard grade | 1,692,705 | 243,314 | - | 1,936,019 |
Sub-standard grade | 59 | 115,092 | - | 115,151 |
Non- | - | - | 132,470 | 132,470 |
Not rated internally | 10,279 | 1,267 | - | 11,546 |
Total commitments | 13,127,868 | 1,105,918 | 132,470 | 14,366,256 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
127
45. Risk management (continued)
45.1 Credit risk (continued)
Guarantees and other credit commitments (continued)
Credit quality analysis of commitments granted (continued)
Bank | ||||
Retail | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,644,568 | 1,190 | 0 | 1,645,758 |
Good grade | 611,054 | 39,811 | 0 | 650,865 |
Standard grade | 104,796 | 22,535 | 0 | 127,331 |
Sub-standard grade | 59 | 11,217 | 0 | 11,276 |
Non- | 0 | 0 | 7,768 | 7,768 |
Total commitments | 2,360,477 | 74,752 | 7,768 | 2,442,997 |
Non-retail | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Good grade | 9,148,655 | 704,840 | - | 9,853,495 |
Standard grade | 1,579,040 | 218,762 | - | 1,797,803 |
Sub-standard grade | - | 103,875 | - | 103,875 |
Non- | - | - | 122,961 | 122,961 |
Total commitments | 10,727,696 | 1,027,477 | 122,961 | 11,878,134 |
Total | ||||
December 31, 2024 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,644,568 | 1,190 | - | 1,645,758 |
Good grade | 9,759,710 | 744,651 | - | 10,504,360 |
Standard grade | 1,683,836 | 241,297 | - | 1,925,134 |
Sub-standard grade | 59 | 115,092 | - | 115,151 |
Non- | - | - | 130,729 | 130,729 |
Total commitments | 13,088,173 | 1,102,229 | 130,729 | 14,321,131 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
128
45. Risk management (continued)
45.1 Credit risk (continued)
Guarantees and other credit commitments (continued)
Credit quality analysis of commitments granted (continued)
Group | ||||
Retail | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,162,947 | 105 | 0 | 1,163,051 |
Good grade | 762,843 | 49,977 | 0 | 812,821 |
Standard grade | 114,640 | 17,146 | 0 | 131,786 |
Sub-standard grade | 58 | 9,839 | 0 | 9,898 |
Non- | 0 | 0 | 6,094 | 6,094 |
Not rated internally | 10,251 | 1,200 | 106 | 11,557 |
Total commitments | 2,050,739 | 78,268 | 6,200 | 2,135,207 |
Non-retail | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Good grade | 8,653,302 | 905,161 | - | 9,558,463 |
Standard grade | 1,930,269 | 19,916 | - | 1,950,186 |
Sub-standard grade | - | 62,542 | - | 62,542 |
Non- | - | - | 146,658 | 146,658 |
Total commitments | 10,583,572 | 987,620 | 146,658 | 11,717,849 |
Total | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,162,947 | 105 | - | 1,163,051 |
Good grade | 9,416,145 | 955,138 | - | 10,371,283 |
Standard grade | 2,044,910 | 37,063 | - | 2,081,972 |
Sub-standard grade | 58 | 72,382 | - | 72,440 |
Non- | - | - | 152,752 | 152,752 |
Not rated internally | 10,251 | 1,200 | 106 | 11,557 |
Total commitments | 12,634,311 | 1,065,887 | 152,858 | 13,853,056 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
129
45. Risk management (continued)
45.1 Credit risk (continued)
Guarantees and other credit commitments (continued)
Credit quality analysis of commitments granted (continued)
Bank | ||||
Retail | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,162,947 | 105 | 0 | 1,163,051 |
Good grade | 762,843 | 49,977 | 0 | 812,821 |
Standard grade | 114,640 | 17,146 | 0 | 131,786 |
Sub-standard grade | 58 | 9,839 | 0 | 9,898 |
Non- | 0 | 0 | 6,094 | 6,094 |
Total commitments | 2,040,488 | 77,068 | 6,094 | 2,123,650 |
Non-retail | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Good grade | 8,636,753 | 904,380 | - | 9,541,133 |
Standard grade | 1,908,891 | 18,795 | - | 1,927,685 |
Sub-standard grade | - | 61,963 | - | 61,963 |
Non- | - | - | 154,155 | 154,155 |
Total commitments | 10,545,643 | 985,138 | 154,155 | 11,684,936 |
Total | ||||
December 31, 2023 | ||||
Stage 1 | Stage 2 | Stage 3 | Total | |
Internal rating grade | ||||
Very good | 1,162,947 | 105 | - | 1,163,051 |
Good grade | 9,399,596 | 954,357 | - | 10,353,953 |
Standard grade | 2,023,531 | 35,941 | - | 2,059,471 |
Sub-standard grade | 58 | 71,803 | - | 71,861 |
Non- | - | - | 160,249 | 160,249 |
Total commitments | 12,586,132 | 1,062,205 | 160,249 | 13,808,586 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
130
45. Risk management (continued)
45.1 Credit risk (continued)
Guarantees and other credit commitments (continued)
Credit quality analysis of uncommitted facilities granted
Group | Bank | ||||
Retail | Retail | ||||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | ||
Internal rating grade | |||||
Good grade | 27,623 | 20,610 | 27,623 | 20,610 | |
Standard grade | 4,635 | 1,123 | 4,635 | 1,123 | |
Sub-standard grade | 890 | 2,200 | 890 | 2,200 | |
Non- | 678 | 0 | 678 | 0 | |
Total uncommited | 33,826 | 23,933 | 33,826 | 23,933 | |
Non-retail | Non-retail | ||||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | ||
Internal rating grade | |||||
Good grade | 9,800,169 | 8,884,400 | 9,835,532 | 8,924,823 | |
Standard grade | 2,388,557 | 2,409,349 | 2,388,557 | 2,409,349 | |
Sub-standard grade | 271,036 | 263,010 | 271,036 | 263,010 | |
Non- | 40,863 | 20,124 | 40,863 | 20,124 | |
Total uncommited | 12,500,625 | 11,576,883 | 12,535,988 | 11,617,306 | |
Total | Total | ||||
December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | ||
Internal rating grade | |||||
Good grade | 9,827,792 | 8,905,010 | 9,863,155 | 8,945,433 | |
Standard grade | 2,393,192 | 2,410,472 | 2,393,192 | 2,410,472 | |
Sub-standard grade | 271,926 | 265,211 | 271,926 | 265,211 | |
Non- | 41,541 | 20,124 | 41,541 | 20,124 | |
Total uncommited | 12,534,451 | 11,600,817 | 12,569,814 | 11,641,240 | |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
131
45. Risk management (continued)
45.2 Market risk
Market risk is defined as the risk of registering losses related to the on and off -balance sheet positions
arising from unfavorable movements of market parameters (FX rates, interest rates, share prices, etc.) and
that might be incurred both by the trading book portfolio and by certain banking book positions (structural
portfolio).
The management of market risks is a continuous process, whose primary aim is to identify and measure the
market risks induced by the business activities undergone by the entity.
Trading Book related market risks
The trading activity’s business model is mainly driven by the clients’ requests, the trading portfolio
comprising mostly foreign exchange spot transactions, transactions with bonds issued by the Romanian
Government (outright or reversible transactions), forward and swap deals on foreign exchange or interest
rate, as well as options on different underlying (foreign exchange, interest rates and equities).
Although the trading book portfolio generates a small portion of the Bank’s entire exposure to market risks
(mainly interest rate risk and foreign exchange risk), it is monitored separately from the banking book
portfolio. The identified risks are further reported to the bank’s management and to the Group, ensuring
timely distribution of accurate information for the decision-making processes.
The risk awareness related to the trading book activity is embraced by all actors pertaining to the Financial
Markets perimeter, several sets of controls, some of them with daily frequency,
being
each involved department. The functional independence conferred to the risk line from the business line,
translated in an independent follow-up of risks conducted at the Market Risk Department level, guarantees
a fair, unbiased picture of BRD’s exposure to assumed market risks.
The foundation of an efficient management framework addressing market risks relies on the main principles
listed below:
●
frequent update of the risk management policy and framework, to comply with regulatory requisites,
permanently adapted to market evolutions and internal changes;
●
ongoing improvement of the market risk practice, aligned with the best market practices;
●
validation of valuation techniques used to calculate risks metrics and results;
●
defining risk measurement models and provisions for the market risks assumed (reserves);
●
authorization of various market risk limits, consistent with the stated market risk appetite;
●
approval of the instruments allowed for trading (new products or significant changes of existing
products);
●
involvement in designing the functionalities of the IT systems, data flows and operational procedures;
●
monitoring and analyzing exposures and compliance with the limits, periodical dissemination of
essential data mirroring the bank’s exposure to market risks to the management bodies.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
132
45. Risk management (continued)
45.2 Market risk (continued)
On an annual basis, the market risk appetite is approved by the Board of Directors, being aligned with the
Bank’s business strategy. The top-down approach transposes this high level indicator into limits, notified
to middle management and executive functions, calibrated on different measurement types (nominal,
sensitivity, stress test results, VaR and SVaR levels).
To properly support the trading activities, a daily report, presenting all the market risk indicators, is
delivered to the personnel acting within the Financial Markets perimeter, to the management of Risk
Department and to the Group.
The process of monitoring the compliance with the limits includes the daily metrics report, the monthly
analysis of the trading book activity, and the quarterly summaries submitted to the General Management.
The assesment process of trading book related market risks is designed according with the Group’s
methodology, combining three main risk approaches:
●
Trading VaR, accompanied by SVaR;
●
Stress test scenarios, based on shocks derived from historical and hypothetical scenarios;
●
Complementary indicators (sensitivities, nominal, etc.) which decompose the global indicators into
specific ones, enabling the identification of risk areas, concentration on products and/or maturities that
might generate important risks unrevealed by the global risk metrics.
Value at Risk (VaR)
The purpose of VaR
is to determine a maximum potential loss the bank might incur from the trading
activity, over a given period of time, with a certain level of confidence. BRD computes daily the VaR level
for 1-day holding period, based on historical approach, with a confidence level of 99%.
The relevance of the VaR model is assessed through back testing, by comparing the daily trading result
with the loss estimated by the model, and is performed with daily frequency, in order to forewarn of the
need to recalibrate the computational model or to reconsider the observation period of the market
parameters. The model’s accuracy is tested by comparing the number of days with negative P&L exceeding
the VaR figure with the number of expected overshoots (induced by the model’s assumptions).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
133
45. Risk management (continued)
45.2 Market risk (continued)
Should a breach occur, an investigation is conducted to identify its root cause and the event is escaladed to
the management of the Financial Markets’ perimeter.
The VaR model developed in BRD is used for trading position management purposes only and it is not
transposed into capital requirements.
99% VAR (1 Day) - Key figures (in MEUR)
Begin of year | End of year | Minimum | Average | Maximum | |||||
2022 | 0.18 | 0.42 | 0.12 | 0.35 | 0.97 | ||||
2023 | 0.40 | 0.16 | 0.12 | 0.31 | 0.83 | ||||
2024 | 0.28 | 0.28 | 0.14 | 0.24 | 0.38 | ||||
Stressed VAR (SVaR)
SVaR estimates a maximum
potential
loss from trading activity, for 1-day horizon and with 99% confidence
level, because of adverse market movements associated with a financial crisis. SVaR is computed using the
same approach as VaR, the only difference being that, in the case of SVaR, the observation period for the
risk factors is fixed to a window of 12 consecutive months marked by extreme market events.
The appropriateness of the one-year chosen window is assessed by comparing the SVaR level with the VaR
level. If the VaR/SVaR ratio exceeds the 90% threshold at least three times during a quarter, the
suitability of the window must be reassessed. The range of daily VaR/SVaR values is analyzed periodically
for signals on the need to review the SVaR period.
99%
SVAR
(1
D
AY
)
-
K
EY FIGURES
(
IN
MEUR)
Begin of year | End of year | Minimum | Average | Maximum | ||
2022 | 0.98 | 0.73 | 0.26 | 0.86 | 2.30 | |
2023 | 0.50 | 1.04 | 0.44 | 1.05 | 2.85 | |
2024 | 2.21 | 1.57 | 0.45 | 2.08 | 3.12 | |
Stress test assessment
Methodology
The stress test assessment is one of the main pillars of the market risk management framework, being
complementary to VaR and compensating the limitation of the historical VaR methodology. While the VaR
model considers historical movements of the risk factors occurred in the past, the stress testing environment
embeds theoretical hypothesis or market event-specific scenarios describing large, abrupt changes of the
underlying risk factors. On a daily basis, a range of hypothetical models picturing extreme shocks are mixed
with various historical scenarios and are applied for the entire trading book portfolio of the bank.
A global stress test metric is computed and compared against the approved limit, derived from the market
risk appetite stated in Bank’s strategy.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
134
45. Risk management (continued)
45.2 Market risk (continued)
The various stress test scenarios are subject to review and improvement, the accuracy of the assumptions
used under the active patterns being regularly monitored. The hypothesis validation aims to certify that the
shocks applied are still severe enough and that they model an unlikely event, otherwise timely detecting the
necessity to recalibrate them.
The table below presents the result of applying the stress test methodology on the trading book portfolio.
Stress Test Assessment - Key Negative figures (in MEUR)
Begin of year | End of year | Minimum | Average | Maximum | ||||||||||
2022 | 2.78 | 0.00 | 2.36 | |||||||||||
2023 | 4.84 | 0.01 | 4.57 | 10.30 | ||||||||||
2024 | 11.24 | 9.68 | 2.30 | 11.94 | 15.78 | |||||||||
Foreign exchange risk
The foreign exchange risk is the risk of loss resulting from changes in exchange rates, monitored for all
books. The Group and Bank manages the foreign currency risk by using limits for the open foreign currency
positions both by currency and at the level of global foreign currency position.
The table below indicates the currencies to which the Group and Bank had an exposure as of December 31
on its assets and liabilities. The analysis calculates the effect of a reasonably possible movement of the
currency rate against RON, with all other variables held constant, on the income statement and equity. A
negative amount in the table reflects a potential net reduction in income statement or equity, while a positive
amount reflects a net potential increase. An equivalent decrease in each of the below currencies against
RON would have resulted in an equivalent but opposite impact.
The estimated impact below does not include the impact recorded in income statement of the period:
Group | Bank | |||||
2024 | ||||||
Currency | Change in currency rate % | Effect on profit before tax | Effect on equity | Change in currency rate % | Effect on profit before tax | Effect on equity |
EUR | +5 | +5 | ||||
Other | +5 | +5 | ||||
Group | Bank | |||||
2023 | ||||||
Currency | Change in currency rate % | Effect on profit before tax | Effect on equity | Change in currency rate % | Effect on profit before tax | Effect on equity |
EUR | +5 | +5 | ||||
Other | +5 | +5 | ||||
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
135
45. Risk management (continued)
45.2 Market risk (continued)
The Group and the Bank statement of monetary items financial position structure by currency is presented below:
Group | Bank | |||||||
December 31, 2024 | December 31, 2024 | |||||||
ASSETS | Total | RON | EUR | Other | Total | RON | EUR | Other |
Cash and cash equivalents | 8,658,035 | 6,188,426 | 2,097,804 | 371,805 | 8,657,954 | 6,188,345 | 2,097,804 | 371,805 |
Due from banks | 6,313,423 | 220,738 | 6,078,128 | 14,557 | 6,313,423 | 220,738 | 6,078,128 | 14,557 |
Derivatives and other financial instruments | 1,842,562 | 1,382,505 | 431,765 | 28,292 | 1,810,504 | 1,350,447 | 431,765 | 28,292 |
Financial assets at fair value through | 9,208 | 7,928 | 1,280 | - | 9,208 | 7,928 | 1,280 | - |
Financial assets at fair value through | 12,164,852 | 7,861,780 | 4,111,232 | 191,840 | 12,164,852 | 7,861,780 | 4,111,232 | 191,840 |
Financial assets at amortised cost | 54,812,982 | 41,597,552 | 12,352,574 | 862,856 | 54,459,688 | 41,595,572 | 12,001,260 | 862,856 |
47,705,202 | 37,079,435 | 10,436,241 | 189,526 | 47,351,906 | 37,077,455 | 10,084,926 | 189,526 | |
7,107,780 | 4,518,117 | 1,916,333 | 673,330 | 7,107,781 | 4,518,117 | 1,916,334 | 673,330 | |
Financial lease receivables | 2,023,475 | 77,907 | 1,945,568 | - | - | - | - | - |
Other financial assets | 256,192 | 123,028 | 132,812 | 352 | 239,499 | 106,335 | 132,812 | 352 |
Total assets | 86,080,729 | 57,459,864 | 27,151,163 | 1,469,702 | 83,655,128 | 57,331,145 | 24,854,281 | 1,469,702 |
LIABILITIES | ||||||||
Due to banks | 1,477,293 | 1,360,605 | 86,562 | 30,126 | 1,477,293 | 1,360,605 | 86,562 | 30,126 |
Derivatives and other financial instruments | 524,010 | 359,216 | 161,397 | 3,397 | 524,010 | 359,216 | 161,397 | 3,397 |
Due to customers | 67,935,142 | 46,556,690 | 17,593,232 | 3,785,220 | 68,215,487 | 46,808,952 | 17,621,314 | 3,785,221 |
Borrowed funds | 6,554,915 | 288 | 6,554,627 | - | 4,234,105 | 288 | 4,233,817 | - |
Subordinated debts | 1,245,458 | - | 1,245,458 | - | 1,245,458 | - | 1,245,458 | - |
Other financial liabilities | 627,070 | 269,110 | 349,428 | 8,532 | 584,957 | 236,867 | 339,943 | 8,147 |
Total liabilities | 78,363,888 | 48,545,909 | 25,990,704 | 3,827,275 | 76,281,310 | 48,765,928 | 23,688,491 | 3,826,891 |
Position | 8,913,955 | 1,160,459 | (2,357,573) | - | 8,565,217 | 1,165,790 | (2,357,189) | |
Position off BS | (1,324,713) | (1,055,908) | 2,380,621 | - | (1,324,713) | (1,055,908) | 2,380,621 | |
Position total | 7,589,242 | 104,551 | 23,048 | - | 7,240,504 | 109,882 | 23,432 | |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
136
45. Risk management (continued)
45.2 Market risk (continued)
Group | Bank | |||||||
December 31, 2023 Restated | December 31, 2023 Restated | |||||||
ASSETS | Total | RON | EUR | Other | Total | RON | EUR | Other |
Cash and cash equivalents | 12,461,891 | 10,409,234 | 1,883,154 | 169,503 | 12,461,819 | 10,409,163 | 1,883,153 | 169,503 |
Due from banks | 5,135,720 | 376,593 | 4,699,293 | 59,834 | 5,120,355 | 361,228 | 4,699,293 | 59,834 |
Derivatives and other financial instruments held for trading | 2,135,709 | 1,821,239 | 216,313 | 98,157 | 2,110,661 | 1,796,191 | 216,313 | 98,157 |
Financial assets at fair value through profit and loss | 11,376 | 10,488 | 888 | - | 11,376 | 10,488 | 888 | - |
Financial assets at fair value through other comprehensive income | 13,429,670 | 8,654,503 | 4,583,537 | 191,630 | 13,429,670 | 8,654,503 | 4,583,537 | 191,630 |
Financial assets at amortised cost | 46,277,069 | 33,168,359 | 12,299,923 | 808,787 | 45,865,368 | 33,170,064 | 11,886,517 | 808,787 |
40,047,136 | 29,610,763 | 10,253,163 | 183,210 | 39,635,435 | 29,612,468 | 9,839,757 | 183,210 | |
6,229,933 | 3,557,596 | 2,046,760 | 625,577 | 6,229,933 | 3,557,596 | 2,046,760 | 625,577 | |
Financial lease receivables | 1,691,734 | 72,571 | 1,619,163 | - | - | - | - | - |
Other financial assets | 310,598 | 66,535 | 243,853 | 210 | 293,256 | 50,418 | 242,628 | 210 |
Total assets | 81,453,767 | 54,579,522 | 25,546,124 | 1,328,121 | 79,292,505 | 54,452,055 | 23,512,329 | 1,328,121 |
LIABILITIES | ||||||||
Due to banks | 1,146,540 | 1,024,778 | 96,793 | 24,969 | 1,146,540 | 1,024,778 | 96,793 | 24,969 |
Derivatives and other financial instruments held for trading | 1,272,450 | 697,041 | 572,494 | 2,915 | 1,272,450 | 697,041 | 572,494 | 2,915 |
Due to customers | 62,405,609 | 43,411,950 | 15,750,165 | 3,243,494 | 62,641,838 | 43,625,666 | 15,772,676 | 3,243,496 |
Borrowed funds | 7,004,362 | 118,781 | 6,885,581 | - | 4,834,225 | 750 | 4,833,475 | - |
Subordinated debts | 1,245,400 | - | 1,245,400 | - | 1,245,400 | - | 1,245,400 | - |
Other financial liabilities | 1,204,463 | 910,537 | 285,713 | 8,213 | 1,105,095 | 830,400 | 266,853 | 7,842 |
Total liabilities | 74,278,824 | 46,163,087 | 24,836,146 | 3,279,591 | 72,245,548 | 46,178,635 | 22,787,691 | 3,279,222 |
Position | 8,416,435 | 709,978 | (1,951,470) | - | 8,273,420 | 724,638 | (1,951,101) | |
Position off BS | (1,337,787) | (636,209) | 1,973,995 | - | (1,337,787) | (636,209) | 1,973,995 | |
Position total | 7,078,648 | 73,769 | 22,525 | - | 6,935,633 | 88,429 | 22,894 | |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details,
please refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
137
45. Risk management (continued)
45.2 Market risk (continued)
Interest rate risk
Interest rate risk arises from the possibility that changes in interest rates will affect future cash flows or the
fair values of financial instruments. BRD - Groupe Société Générale manages interest rate risk mainly
through the sensitivity of the net present value (NPV), measured as the sensitivity to a set of interest rate
shocks of the present value of the future principal and interest cash flows of all items in the banking book,
balance sheet and off-balance sheet. This measure is calculated for all currencies to which the Bank is
exposed.
Assets and liabilities are analyzed without a prior allocation of resources to uses. Maturities of outstanding
amounts are determined by considering the contractual characteristics of the transactions, adjusted for the
results of customer behavior modelling (in particular for demand deposits, savings and early loan
repayments).
In accordance with the Group’s policy, positions are monitored on a regular basis and appropriate strategies
are used to ensure that they are maintained within the established limits.
The following table demonstrates the sensitivity to a reasonable possible change in interest rates, with all
other variables held constant, of the Group’s and Bank’s banking book.
Group | Bank | ||
December 31, 2024 | December 31, 2024 | ||
Change in interest rate (b.p) | Sensitivity (MRON) | Change in interest rate (b.p) | Sensitivity (MRON) |
10 | 5 | 10 | 4 |
(10) | (5) | (10) | (4) |
December 31, 2023 | December 31, 2023 | ||
Change in interest rate (b.p) | Sensitivity (MRON) | Change in interest rate (b.p) | Sensitivity (MRON) |
10 | 8 | 10 | 6 |
(10) | (8) | (10) | (8) |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
138
45. Risk management (continued)
45.3 Liquidity risk
The liquidity risk is associated either with the difficulty of an enterprise to raise necessary funds in order to
meet commitments or with its inability to monetize a financial asset quickly and for an amount close to its
fair value.
The Group manages the exposure to the liquidity risk using a specific framework designed to manage it
both under normal day-to-day conditions and in the event of a potential liquidity crisis. The liquidity risk
management approach starts at the intraday level managing the daily payments flows, forecasting and
managing cash flows, and factoring in the access to central bank monetary policy operations and standing
facilities. It then covers a longer-term perspective, comprising the maturity profile of all assets and liabilities
and the funding strategy.
The liquidity risk position, under normal conditions, is measured at consolidated level using the static
liquidity gaps indicator and the two liquidity ratios defined by CRD IV: Liquidity Coverage Ratio (LCR)
and Net Stable Funding Ratio (NSFR). Static liquidity gap is defined as the difference between the expected
future inflows and outflows related to the current transactions (no new business included), determined for
each time bucket and currency based on the contractual maturity of the transactions, considering also
embedded options (e.g. prepayment for loans, term deposits) or, for non-maturing products (the main ones
being: current accounts, fixed assets, other assets, equity, other liabilities), based on a maturity modelled
using historical client behaviour or a conventional maturity. For each budgeting and planning exercise, the
future funding needs are assessed starting from the actual liquidity position and budgeted evolution of assets
and liabilities. When a deficit is expected, funding solutions are assessed and appropriate actions are
planned.
As regards LCR and NSFR, the limits imposed by the regulation in force was respected throughout the
entire year.
The Group performs liquidity risk stress tests on a quarterly basis to identify and quantify its exposures to
possible liquidity stresses, analysing potential impacts on the cash flows and liquidity position. The Group
is considering 3 liquidity crisis scenarios: specific to the Group (idiosyncratic), systemic and a combination
of both. The Group maintains a liquidity buffer of unencumbered, high quality liquid assets as an insurance
against a range of liquidity stress scenarios. A contingency funding plan is designed to protect the
stakeholders’ interests and to ensure positive outcome in the event of a liquidity crisis.
Liquidity management
As of December 31, 2024 and December 31, 2023 the Bank has complied with all the regulatory
requirements regarding liquidity management. The Bank has a solid and diversified deposits base, with
66% in Retail deposits and 89% of customer deposits in total liabilities.
The Bank uses external funding, which is provided by Société Générale to answer MREL and capital
requirements. At the end of December 2024, the amount of funding is in amount of 1,100,000 KEUR, which
consist on 850,000 KEUR of SNP and 250,000 KEUR of subordinated loans. The NSFR was above the
regulatory limits as of December 31, 2024.
The structure of funding base confirms the stability of funding resources and a proper calibration to
minimize potential impacts of liquidity crisis on bank’s liquidity situation. The stress testing exercise shows
a solid level of LCR, well above the regulatory threshold. The Bank holds sufficient liquidity buffer to
cover the outflows under the combined scenario. The unencumbered high-quality assets, eligible as
collateral for funding attraction is at 36% of customer resources. The follow up of the liquidity buffer is
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
139
45. Risk management (continued)
45.3 Liquidity risk (continued)
done on a daily basis as part of the daily liquidity dashboard which allows to properly monitor its
sufficiency.
At the end of December 2024 all liquidity ratios are within the thresholds and limits according to approved
risk appetite statement and at the same time in compliance with regulatory requirements, being well above
minimum levels.
The maturity structure of the Group’s and the Bank’s assets and liabilities as at December 31, 2024 and
2023, presented according to the mentions above, is as follows:
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
140
45. Risk management (continued)
45.3 Liquidity risk (continued)
Group | ||||||
December 31, 2024 | ||||||
ASSETS | ||||||
Cash and cash equivalents | 8,658,035 | 2,308,728 | 1,219,522 | 5,129,785 | - | - |
Due from banks | 6,313,423 | 795,131 | 5,518,292 | - | - | - |
Derivatives and other financial instruments | 1,842,562 | 759,480 | 349,258 | 185,199 | 339,977 | 208,648 |
Financial assets at fair value through | 9,208 | 77 | 154 | 691 | 3,683 | 4,603 |
Financial assets at fair value through | 12,164,852 | (1,698,845) | 1,172,631 | 1,638,687 | 4,566,628 | 6,485,751 |
Financial assets at amortised cost | 54,812,982 | 3,292,506 | 2,770,782 | 11,585,986 | 22,333,931 | 14,829,777 |
47,705,202 | 3,142,573 | 2,770,782 | 11,044,133 | 19,704,720 | 11,042,994 | |
7,107,780 | 149,933 | - | 541,853 | 2,629,211 | 3,786,783 | |
Financial lease receivables | 2,023,475 | 259,875 | 742,189 | 359,032 | 662,379 | - |
Other financial assets | 256,192 | 4,270 | 8,540 | 38,429 | 204,953 | - |
Total assets | 86,080,729 | 5,721,222 | 11,781,368 | 18,937,809 | 28,111,551 | 21,528,779 |
LIABILITIES | ||||||
Due to banks | 1,477,293 | 1,477,293 | - | - | - | - |
Derivatives and other financial instruments | 524,010 | 524,010 | - | - | - | - |
Due to customers | 67,935,142 | 16,616,970 | 5,755,785 | 13,115,074 | 21,885,966 | 10,561,347 |
Borrowed funds | 6,554,915 | 87,303 | 1,208,711 | 2,548,078 | 1,922,117 | 788,706 |
Subordinated debts | 1,245,458 | 1,933 | - | - | 1,243,525 | - |
Other financial liabilities | 627,070 | 8,078 | 17,855 | 56,095 | 412,199 | 132,843 |
Total liabilities | 78,363,888 | 18,715,587 | 6,982,351 | 15,719,247 | 25,463,807 | 11,482,896 |
Gap | (12,994,365) | 4,799,017 | 3,218,562 | 2,647,744 | 10,045,883 | |
Cumulative gap | (12,994,365) | (8,195,348) | (4,976,786) | (2,329,042) | 7,716,841 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
141
45. Risk management (continued)
45.3 Liquidity risk (continued)
Group | ||||||
December 31, 2023 Restated | ||||||
ASSETS | ||||||
Cash and cash equivalents | 12,461,891 | 6,605,257 | 1,111,408 | 4,745,226 | - | - |
Due from banks | 5,135,720 | 1,743,262 | 3,377,505 | 12,553 | 2,400 | - |
Derivatives and other financial | 2,135,709 | 1,045,882 | 54,392 | 410,943 | 347,602 | 276,890 |
Financial assets at fair value through | 11,376 | 95 | 190 | 853 | 4,550 | 5,688 |
Financial assets at fair value through | 13,429,670 | (1,500,841) | - | 1,363,302 | 5,655,238 | 7,911,971 |
Financial assets at amortised cost | 46,277,069 | 1,764,097 | 2,252,454 | 9,516,660 | 18,923,517 | 13,820,341 |
40,047,136 | 1,650,887 | 2,252,454 | 8,914,218 | 16,503,139 | 10,726,438 | |
6,229,933 | 113,210 | - | 602,442 | 2,420,378 | 3,093,903 | |
Financial lease receivables | 1,691,734 | 77,576 | 214,766 | 465,015 | 934,377 | - |
Other financial assets | 310,598 | 8,055 | 10,256 | 46,150 | 246,137 | - |
Total assets | 81,453,767 | 9,743,383 | 7,020,971 | 16,560,702 | 26,113,821 | 22,014,890 |
LIABILITIES | ||||||
Due to banks | 1,146,540 | 1,146,540 | - | - | - | - |
Derivatives and other financial instruments | 1,272,450 | 1,247,450 | 20,000 | 5,000 | - | - |
Due to customers | 62,405,609 | 14,533,612 | 4,879,431 | 12,980,650 | 20,004,669 | 10,007,247 |
Borrowed funds | 7,004,362 | 93,557 | 379,005 | 3,049,375 | 2,238,776 | 1,243,649 |
Subordinated debts | 1,245,400 | 1,750 | - | - | 1,243,650 | - |
Other financial liabilities | 1,204,463 | 754,031 | 30,866 | 48,146 | 252,216 | 119,204 |
Total liabilities | 74,278,824 | 17,776,940 | 5,309,302 | 16,083,171 | 23,739,311 | 11,370,100 |
Gap | (8,033,557) | 1,711,669 | 477,531 | 2,374,510 | 10,644,790 | |
Cumulative gap | (8,033,557) | (6,321,888) | (5,844,357) | (3,469,847) | 7,174,943 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
142
45. Risk management (continued)
45.3 Liquidity risk (continued)
Bank | ||||||
December 31, 2024 | ||||||
ASSETS | ||||||
Cash and cash equivalents | 8,657,954 | 2,308,647 | 1,219,522 | 5,129,785 | - | - |
Due from banks | 6,313,423 | 795,131 | 5,518,292 | - | - | - |
Derivatives and other financial instruments | 1,810,504 | 759,480 | 349,258 | 185,199 | 307,919 | 208,648 |
Financial assets at fair value through | 9,208 | 77 | 154 | 691 | 3,683 | 4,603 |
Financial assets at fair value through | 12,164,852 | (1,698,845) | 1,172,631 | 1,638,687 | 4,566,628 | 6,485,751 |
Financial assets at amortised cost | 54,459,688 | 3,264,884 | 2,664,056 | 11,472,656 | 22,228,314 | 14,829,778 |
47,351,907 | 3,114,951 | 2,664,056 | 10,930,802 | 19,599,102 | 11,042,996 | |
7,107,781 | 149,933 | - | 541,854 | 2,629,212 | 3,786,782 | |
Other financial assets | 239,499 | 3,992 | 7,983 | 35,925 | 191,599 | - |
Total assets | 83,655,128 | 5,433,366 | 10,931,896 | 18,462,943 | 27,298,143 | 21,528,780 |
LIABILITIES | ||||||
Due to banks | 1,477,293 | 1,477,293 | - | - | - | - |
Derivatives and other financial instruments | 524,010 | 524,010 | - | - | - | - |
Due to customers | 68,215,487 | 16,806,145 | 5,846,785 | 13,115,074 | 21,885,966 | 10,561,517 |
Borrowed funds | 4,234,105 | 4,009 | 109 | 2,239,096 | 1,244,775 | 746,116 |
Subordinated debts | 1,245,458 | 1,933 | - | - | 1,243,525 | - |
Other financial liabilities | 584,957 | 7,376 | 16,451 | 49,778 | 378,508 | 132,844 |
Total liabilities | 76,281,310 | 18,820,766 | 5,863,345 | 15,403,948 | 24,752,774 | 11,440,477 |
Gap | (13,387,400) | 5,068,551 | 3,058,995 | 2,545,369 | 10,088,303 | |
Cumulative gap | (13,387,400) | (8,318,849) | (5,259,854) | (2,714,485) | 7,373,818 |
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
143
45. Risk management (continued)
45.3 Liquidity risk (continued)
Bank | ||||||
December 31, 2023 Restated | ||||||
ASSETS | ||||||
Cash and cash equivalents | 12,461,819 | 6,605,185 | 1,111,408 | 4,745,226 | - | - |
Due from banks | 5,120,355 | 1,742,850 | 3,377,505 | - | - | - |
Derivatives and other financial instruments | 2,110,661 | 1,045,882 | 54,392 | 410,943 | 322,554 | 276,890 |
Financial assets at fair value through | 11,376 | 95 | 190 | 853 | 4,550 | 5,688 |
Financial assets at fair value through | 13,429,670 | (1,500,841) | - | 1,363,302 | 5,655,238 | 7,911,971 |
Financial assets at amortised cost | 45,865,368 | 1,745,013 | 2,204,123 | 9,402,254 | 18,693,637 | 13,820,341 |
39,635,435 | 1,631,803 | 2,204,123 | 8,799,812 | 16,273,259 | 10,726,438 | |
6,229,933 | 113,210 | - | 602,442 | 2,420,378 | 3,093,903 | |
Other financial assets | 293,256 | 7,766 | 9,678 | 43,549 | 232,263 | - |
Total assets | 79,292,505 | 9,645,950 | 6,757,296 | 15,966,127 | 24,908,243 | 22,014,891 |
LIABILITIES | ||||||
Due to banks | 1,146,540 | 1,146,540 | - | - | - | - |
Derivatives and other financial instruments | 1,272,450 | 1,247,450 | 20,000 | 5,000 | - | - |
Due to customers | 62,641,838 | 14,739,670 | 4,894,431 | 12,995,650 | 20,004,669 | 10,007,418 |
Borrowed funds | 4,834,225 | 5,551 | 302 | 1,344,163 | 2,240,559 | 1,243,650 |
Subordinated debts | 1,245,400 | 1,750 | - | - | 1,243,650 | - |
Other financial liabilities | 1,105,095 | 752,375 | 27,554 | 33,241 | 172,721 | 119,204 |
Total liabilities | 72,245,548 | 17,893,336 | 4,942,287 | 14,378,054 | 23,661,599 | 11,370,272 |
Gap | (8,247,388) | 1,815,009 | 1,588,073 | 1,246,644 | 10,644,619 | |
Cumulative gap | (8,247,388) | (6,432,379) | (4,844,306) | (3,597,662) | 7,046,957 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
144
45. Risk management (continued)
45.3 Liquidity risk (continued)
Future undiscounted cash flows
The tables below summarize the maturity profile of the financial liabilities based on contractual undiscounted repayment obligations.
Group | ||||||
December 31, 2024 | ||||||
LIABILITIES | ||||||
Due to banks | 1,480,363 | 1,480,363 | - | - | - | - |
Derivatives and other financial instruments | 615,024 | 511,607 | (11,864) | 25,828 | 85,228 | 4,225 |
Due to customers | 69,893,620 | 16,813,207 | 5,995,779 | 13,701,692 | 22,718,405 | 10,664,537 |
Borrowed funds | 7,292,860 | 98,473 | 1,254,731 | 2,757,022 | 2,393,928 | 788,706 |
Subordinated debt | 1,256,256 | 3,866 | 8,787 | 78 | 1,243,525 | - |
Creditors - Lease liabilities | 329,305 | 3,546 | 7,092 | 31,916 | 153,907 | 132,844 |
Other financial liabilities except for fair | 297,765 | 4,532 | 10,762 | 24,179 | 258,292 | - |
Letters of guarantee granted | 3,812,725 | 3,812,725 | - | - | - | - |
Financing commitments granted | 10,553,532 | 10,553,532 | - | - | - | - |
Total liabilities | 95,531,450 | 33,281,851 | 7,265,287 | 16,540,715 | 26,853,285 | 11,590,312 |
Group | ||||||
December 31, 2023 Restated | ||||||
LIABILITIES | ||||||
Due to banks | 1,150,401 | 1,149,229 | 468 | 704 | - | - |
Derivatives and other financial instruments | 1,558,280 | 1,270,008 | 30,165 | 75,594 | 160,945 | 21,568 |
Due to customers | 64,299,417 | 19,332,204 | 8,832,183 | 14,830,111 | 12,907,422 | 8,397,497 |
Borrowed funds | 7,866,185 | 115,792 | 466,086 | 3,276,404 | 2,668,421 | 1,339,482 |
Subordinated debt | 1,259,639 | 3,500 | 12,326 | 163 | 1,243,650 | - |
Creditors - Lease liabilities | 308,752 | 3,396 | 6,793 | 30,566 | 148,793 | 119,204 |
Other financial liabilities except for fair | 895,711 | 750,635 | 24,073 | 17,580 | 103,422 | 1 |
Letters of guarantee granted | 3,795,868 | 3,795,868 | - | - | - | - |
Financing commitments granted | 10,057,188 | 10,057,188 | - | - | - | - |
Total liabilities | 91,191,441 | 36,477,820 | 9,372,094 | 18,231,122 | 17,232,653 | 9,877,752 |
The Bank performed reclassifications to enhance presentation and corresponding comparatives have been re-classified accordingly. For more details, please
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
145
45. Risk management (continued)
45.3 Liquidity risk (continued)
Future undiscounted cash flows (continued)
Bank | ||||||
December 31, 2024 | ||||||
LIABILITIES | ||||||
Due to banks | 1,480,363 | 1,480,363 | - | - | - | - |
Derivatives and other financial instruments | 614,810 | 511,607 | (11,885) | 25,772 | 85,091 | 4,225 |
Due to customers | 70,175,990 | 17,164,570 | 6,082,296 | 13,677,111 | 22,587,305 | 10,664,708 |
Borrowed funds | 4,833,045 | 7,966 | 32,882 | 2,398,998 | 1,647,084 | 746,115 |
Subordinated debt | 1,256,256 | 3,866 | 8,787 | 78 | 1,243,525 | - |
Creditors - Lease liabilities | 324,196 | 3,461 | 6,922 | 31,150 | 149,819 | 132,844 |
Other financial liabilities except for fair | 260,761 | 3,915 | 9,529 | 18,628 | 228,689 | - |
Letters of guarantee granted | 3,814,807 | 3,814,807 | - | - | - | - |
Financing commitments granted | 10,506,324 | 10,506,324 | - | - | - | - |
Total liabilities | 93,266,552 | 33,496,879 | 6,128,531 | 16,151,737 | 25,941,513 | 11,547,892 |
Bank | ||||||
December 31, 2023 Restated | ||||||
LIABILITIES | ||||||
Due to banks | 1,150,401 | 1,149,229 | 468 | 704 | - | - |
Derivatives and other financial instruments | 1,557,083 | 1,270,008 | 30,070 | 75,334 | 160,103 | 21,568 |
Due to customers | 64,538,537 | 15,081,528 | 5,038,402 | 13,596,881 | 20,664,069 | 10,157,657 |
Borrowed funds | 5,535,298 | 11,029 | 73,380 | 1,520,642 | 2,590,765 | 1,339,482 |
Subordinated debt | 1,259,639 | 3,500 | 12,326 | 163 | 1,243,650 | - |
Creditors - Lease liabilities | 290,502 | 3,092 | 6,184 | 27,829 | 134,193 | 119,204 |
Other financial liabilities except for fair | 814,593 | 749,283 | 21,369 | 5,412 | 38,528 | 1 |
Letters of guarantee granted | 3,806,209 | 3,806,209 | - | - | - | - |
Total liabilities | 88,954,639 | 32,076,255 | 5,182,199 | 15,226,965 | 24,831,308 | 11,637,912 |
refer to note 2 a).
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
146
45. Risk management (continued)
45.4 Environmental, Social and Governance risk
ESG (Environmental, Social, and Governance) risks are defined as the risk of losses arising from any
negative financial impact stemming from the current or prospective impacts of environmental, social or
governance (ESG) factors on the BRD’s counterparties or invested assets. The type of environmental risk
that has been most widely researched and recognised is climate-related risk (physical risks that arise from
the physical effect of climate change and environmental degradation and the transition risks that refer to
the uncertainty related to the timing and speed of the process of adjustment to an environmentally
sustainable economy).
ESG risks represent an aggravating factor for the existing risk categories. They can have a negative impact
on BRD’s financial performance by materializing through risk categories, such as credit risk that is
primarily affected.
BRD takes into account the concept of double materiality, by analyzing the potential negative financial
impact of ESG factors on its counterparties or invested assets, taking into account:
1. environmental and social materiality may arise from the impact of BRD’s economic and financial
activities on the environment and human rights, which could in turn become financially material when this
impact affects the value (returns) of the bank’s activities.
2. financial materiality may arise from the impact of ESG factors on a BRD’s economic and financial
activities throughout their entire value chain (both upstream and downstream), affecting the value (returns)
of such activities.
The assessment of the potential impact of ESG risks factors on existing risk categories is based on a
qualitative approach by using ESG risk drivers and their transmissions channels. At this point, the analysis
remained largely focused on the climate-related and environmental risk
The processes for identifying, assessing and managing sustainability-related impacts, risks and
opportunities are integrated into the overall risk management and strategic management processes. These
processes are primarily driven by the double materiality assessment and Business Environment Scan, which
enable BRD to evaluate both financial and non-financial aspects of sustainability risks and opportunities
across its value chain.
The Risk Management Function is responsible for overseeing these processes independently from
operational and support structures, ensuring objective evaluation and alignment with the Bank's strategic
goals. The Deputy CEO in charge of Risk (Chief Risk Officer) leads the centralized risk management
function and reports findings, conclusions and recommendations to the Executive Committee and relevant
committees, ensuring that sustainability-related risks and opportunities are considered into decision-
making. Sustainability risks, such as climate change adaptation and mitigation, regulatory compliance and
financial impacts of environmental policies, are assessed within BRD Group’s overall risk framework,
allowing BRD Group to anticipate potential disruptions, financial strain and reputational impacts while
aligning with regulatory requirements such as CSRD and the EU Taxonomy.
BRD – Groupe Société Générale S.A.
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
as at and for the year ended December 31, 2024
(Amounts in thousands RON)
The accompanying notes are an integral part of this financial statements.
147
46. Capital management
The Bank calculates the capital requirements in accordance with Basel III principles, implemented in the
European Union law by the capital Directive (CRD IV - 36/2013), Regulation (CRR – 575/2013), technical
regulatory standards and technical implementation standards issued by the European Banking Authority,
with all subsequent amendments as of date. Locally, the European requirements are also adopted through
National Bank of Romania (NBR) prudential regulations for credit institutions and investment firms: OUG
99/2006 on credit institutions and capital adequacy and NBR Regulation no. 5/2013 regarding prudential
requirements.
Group and Bank’s own funds comprises Tier 1 and Tier 2 capital. Two subordinated loans in total amount
of 250 million EUR (received in December 2021 and June 2022) are included as Tier 2 capital.
Tier 1 capital includes CET 1 capital, namely eligible capital, eligible reserves and other comprehensive
income less regulatory deductions.
A summary of the capital requirements indicators is presented below, in million RON:
Group | Bank | |||
2024 | 2023 | 2024 | 2023 | |
Total Tier | 8,762 | 7,186 | 8,437 | 6,859 |
Total Tier | 1,244 | 1,244 | 1,244 | 1,244 |
TOTAL OWN FUNDS | 10,006 | 8,430 | 9,681 | 8,103 |
Total capital requirement | 3,009 | 2,976 | 2,840 | 2,823 |
Credit risk (including counterparty | 34,891 | 34,598 | 32,825 | 32,769 |
Market risk | 184 | 146 | 183 | 139 |
Operational risk | 2,406 | 2,308 | 2,371 | 2,238 |
CVA | 127 | 145 | 127 | 145 |
Total risk | 37,608 | 37,197 | 35,506 | 35,291 |
Regulatory CAR | 26.61% | 22.66% | 27.26% | 22.96% |
Tier 1 ratio | 23.30% | 19.32% | 23.76% | 19.44% |
The Bank was compliant with the capital adequacy ratios throughout the year.
The increase in own funds is mainly explained by the application, starting with July 2024 of art. 468 of
CRR3 (OCI – quick fix, as per Regulation (EU) 2024/1623) regarding the temporary treatment of unrealized
gains and losses resulting from the valuation of assets at fair value through OCI.
Annual Board of Directors’ Report
2024
Prepared in accordance with the National Bank of Romania Order no. 27/2010, the Financial
Supervisory Authority Regulation no.5/2018, the National Bank of Romania Regulation no. 5/2013
Contains both Annual Board of Directors’ Report and Consolidated Annual Board of Directors’ Report
Note: Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may
not precisely reflect the absolute figures.
Fitch
(last rating update: December-2024*)
Rating
Foreign-Currency Short-Term Issuer Default Rating
F2
Foreign-Currency Long-Term Issuer Default Rating
BBB+
Moody's
(last rating update: April-2024**)
Rating
Domestic Currency Short-Term Deposit
Prime-2
Domestic Currency Long-Term Deposit
Baa1
Foreign Currency Short-Term Deposit
Prime-2
Foreign Currency Long-Term Deposit
Baa1
1. T
HE COMPANY AND ITS SHAREHOLDERS
BRD
–
G
ROUPE
S
OCIÉTÉ
G
ÉNÉRALE PROFILE
BRD - Groupe Société Générale (“BRD” or “the Bank”) was set up on December 1
st
, 1990 as an
independent bank with the legal status of a joint-stock company and with the share capital mainly held
by the Romanian State, by acquiring assets and liabilities of the former Banca de Investitii (“the
Investment Bank”).
In March 1999, Société Générale (“SG”) bought a stake representing 51% of the share capital,
increasing its holding to 58.32% in 2004, through the acquisition of the residual stake from the
Romanian State. As at December 31, 2024, SG was holding 60.17% of the share capital.
BRD–Groupe Société Générale has been quoted on Bucharest Stock Exchange (“BVB”) with the
symbol “BRD” since January 15, 2001
BRD identification data are the following:
Ø
Head Office:
Ø
Phone/Fax:
021.3016100 / 021.3016800
Ø
Sole registration number with the Trade Registry:
361579/10.12.1992
Ø
Fiscal Code:
RO 361579/10.12.1992
Ø
Order number with the Trade Registry:
Ø
Number and date of registration in the Credit Institutions Register:
RB - PJR - 40 –
007/18.02.1999
Ø
Share capital subscribed and paid:
Ø
Regulated market on which the issued securities are traded:
Premium Tier
Ø
The main characteristics of securities issued by the Bank:
ordinary shares with a nominal
value of 1 RON
E
XTERNAL RATING
As at December 31, 2024, the Bank had the following ratings:
* Fitch affirmed LT IDR at 'BBB+' with Negative Outlook
** Moody's affirmed Bank’s LT and ST foreign currency deposit rating to Baa1/Prime-2 in May 2023
with stable outlook. On the last periodic review, on April 2024, rating and outlook remained unchanged.
BRD
G
ROUP
(„G
ROUP
”)
-
BRD - Groupe Société Générale SA;
-
BRD Sogelease IFN SA;
-
BRD Finance IFN SA;
-
BRD Asset Management SAI SA.
S
OCIÉTÉ
G
ÉNÉRALE PROFILE
Société Générale was set up in 1864 as a banking company, registered in France. Its registered office
is located on 29 Boulevard Haussmann, 75009, Paris, France, and its shares are listed on the Paris
Stock Exchange.
Société Générale is one of the largest European financial services groups. Based on a diversified
integrated banking model, the Group combines financial strength and proven expertise in innovation
with a strategy of sustainable growth and aims to be the trusted partner for its clients, committed to the
positive transformations of the world.
Active in the real economy for over 160 years, with a solid position in Europe and connected to the rest
of the world, Société Générale has more than 126,000 members of staff in 65 countries and supports on
a daily basis around 25 million individual clients, businesses and institutional investors around the
world by offering a wide range of advisory services and tailored financial solutions.
The Group operates in three complementary business areas, incorporating ESG offers for all its clients:
Ø
French Retail Banking, Private Banking and Insurance,
with leading retail bank SG and
insurance franchise, premium private banking services, and the leading digital Bank
Boursorama.
Ø
Global Banking and Investor Solutions,
a top tier wholesale bank offering tailored-made
solutions with distinctive global leadership in Equity Derivatives, Structured Finance and ESG.
Ø
Mobility, International Retail Banking and Financial Services,
comprising well-established
universal banks (in Romania, Czech Republic and several African countries), and Ayvens (the
new ALD LeasePlan brand), a global player in sustainable mobility, as well as specialized
financing activities.
The latest credit ratings of Société Générale are available at
htts://investors.societegenerale.com/en/financial-and-non-financial-information/ratings/credit-ratings
In 2024, the National Bank of Romania (NBR) requested all banks in the Romanian banking
system to assess the fulfilment by the significant shareholder/significant shareholders of the
legal and regulatory requirements regarding integrity, financial soundness and influence over
the management of the credit institution, according to the provisions of Regulation no. 12/2020
Section 2, Articles 16 - 50.
The assessment of Société Générale S.A. as the sole significant shareholder of BRD, carried
out by the Risk Management Committee No. 33 dated 11.09.2024 and presented to the Board
of Directors in the meeting no. 537 dated 19.09.2024, did not identify any issues that
contravene the above-mentioned legal provisions on integrity, professional skills and
compliance with prudential regulations, Société Générale's influence on the BRD's
management body, Société Générale's financial soundness.
BRD
S
OCIÉTÉ
G
ÉNÉRALE
SG has been present in Romania since 1980, being the only significant bank from Western Europe that
was present in Romania during the communist era.
In 1999, it takes part in the process of privatization of Banca Romana pentru Dezvoltare and acquires
51% of the Bank’s share capital.
Starting with this period, BRD lined up its operational procedures and business practices to those of the
SG Group.
BRD is part of the international network of Société Générale, managed by Mobility, International Retail
Banking and Financial Services (MIBS) that aims to offer a broad range of products and services to
individuals, professionals and corporates.
The Group
2023
2024
Change
Net banking income (RONm)
3,834
4,032
+5.2%
Operating expenses (RONm)
(1,895)
(2,023)
+6.8%
Net impairment gain/(loss) on financial instruments (RONm)
57
(145)
+2.5x
Profit for the period (RONm)
1,656
1,524
-8.0%
Cost / Income ratio
49.4%
50.2%
+0.8 pt
ROE
20.9%
16.6%
-4.3 pt
RON bn
Dec-23
Dec-24
Change
Total loans and advances to customers (incl. Finance Lease
receivables)
41.7 49.7 +19.1%
Total due to customers
62.4
67.9
+8.9%
The Bank
2023
2024
Change
Net banking income (RONm)
3,723 3,895 +4.6%
Operating expenses (RONm)
(1,815)
(1,965)
+8.2%
Net impairment gain/(loss) on financial instruments (RONm)
48 (128) +2.7x
Profit for the period (RONm)
1,634 1,475 -9.8%
Cost / Income ratio
48.8%
50.4%
+1.7 pt
ROE
21.7%
16.9%
-4.9 pt
RON bn
Dec-23
Dec-24
Change
Total loans and advances to customers
39.6
47.4
+19.5%
Total due to customers
62.6
68.2
+8.9%
RON m
Dec-23
Dec-24
Change
Own funds (RONm)
8,103
9,680
+19.5%
Capital adequacy
RWA (RON bn)
35,291 35,506 0.6%
CAR*
23.0%
27.3%
+4.3 pt
Franchise
No of branches
423
388
(35)
Financial results
Financial results
Loans and deposits
Loans and deposits
KEY
FIGURES
Notes:
CAR for Dec’24 end includes the impact of the new regulatory temporary treatments (implemented through art 468 and art 500a of CRR3 in July 2024). CAR
excluding the impact of new regulatory temporary treatments stands at near 23%.
As of December 31, 2024 the BRD Finance SA financial statements have no longer been prepared as a going concern basis. The entity has been included in the
consolidated financial statements of the Group on this basis.
236.1
213.0
-500
500
1,500
2,500
3,500
4,500
5,500
6,500
80
100
120
140
160
180
200
220
240
260
280
Volume ('000 shares, rhs)
BRD (lhs)
BET Index (lhs)
31 Dec 2014 =100
BRD
Starting with January 15
th
, 2001, the Bank’s shares are listed in the Premium category of the Bucharest
Stock Exchange. The shares are included in the BET, BET Plus, BET-XT, BET-XT-TR , BET-BK ,
BET-TR and ROTX indexes. The Bank’s shares are ordinary, nominative, dematerialized and
indivisible. According to the Articles of Incorporation, article 17, letter k, the Extraordinary General
Shareholders Meeting („EGSM”) decides the capital markets on which the Banks’ share are listed and
traded while complying with the legislation on the trade of shares issued by bank institutions.
The closing price for BRD share as at December 31, 2024, was of RON 18.64 /share (RON 17.92 /share
at December 31, 2023). On the same date, the market capitalization was RON 12,990.24 million (RON
12,488.48 million at December 31, 2023).
During January – December 2024, neither the Bank, nor its subsidiaries bought back own shares.
As of December 31, 2024 neither the Bank, nor its subsidiaries held own shares.
Evolution of BRD’s share price versus the BET Index and BRD’s volume of shares for the
period December 31, 2014 – December 31, 2024
Source: Bloomberg
D
IVIDENDS
According to the Romanian legislation and the Articles of Incorporation, dividends are paid from the
funds created for this purpose after the approval of the General Shareholders Meeting, within maximum
6 months from the date of the General Shareholders Meeting for deciding the dividends. In case the
General Shareholders Meeting does not establish the date when dividends are paid, these shall be paid
in 30 days from the date when the decision of the General Shareholders Meeting to establish dividends
has been published in the Official Gazette of Romania, Part IV.
The distribution of dividends is made according to the General Shareholders Meeting’ decision, upon
the Board of Directors’ proposal and depends on the distributable profit and of the future capitalization
needs of the Bank.
The change in the volume of approved and distributed dividends for the last three years is presented
below:
Dividends | 2023 | 2022 | 2021 |
Distributable profit (RON million) | 1,634.2 | 1,285.9 | 1,279.3 |
Total dividends (RON million) | 817.1 | 643.0 | 895.5 |
Number of shares (millions) | 696.9 | 696.9 | 696.9 |
Dividend per share (RON), gross | 1.17250 | 0.9226 | 1.2850 |
Distribution rate from distributable profit | 50.0% | 50.0% | 70.0% |
Amount of dividends effectively paid by 31.12.2024 million) | 814.0 | 641.0 | 893.2 |
Percentage of dividends effectively paid by 31.12.2024 | 99.6% | 99.8% | 99.8% |
The BRD’s Ordinary General Shareholders Meeting (OGSM) on December 14, 2023, approved the
distribution as dividends of the amount of RON 642,961,341, representing 50% from the retained profit
of 2022 as an extraordinary payment. The gross dividend approved was of 0.9226 lei /share. The
dividends were paid on January 26, 2024 and the deferred payment date was November 29th, 2024.
Further, the BRD’s Ordinary General Shareholders Meeting (OGSM) on April 25, 2024, approved the
distribution as dividends of the amount of RON 817,117,030, representing 50% from the financial result
of 2023. The gross dividend was of 1.17250 lei / share. The dividends were paid on June 6, 2024 and
the deferred payment date was November 29, 2024.
The number of shares remained unchanged in the last 3 years.
D
IVIDEND PAYMENT
The dividends are distributed to the shareholders proportionally to their participation in the share
capital. The dividend income is subject to withholding tax.
Dividends are paid in accordance with the legal provisions and the General Shareholders Meeting’s
resolution regarding profit distribution, dividend setting, and the dividend payment procedure made
available to the shareholders on the Bank's website.
Unclaimed dividends are prescribed within 3 years from the payment start date, according to legal
provisions.
R
ESEARCH AND DEVELOPMENT ACTIVITIES
There are no development and research activities performed by the Bank or by the BRD Group.
2. C
ORPORATE GOVERNANCE
The BRD-Groupe Société Générale S.A.’s Corporate Governance Model is aligned with that of the
parent company.
The Corporate Governance Model adopted by BRD ensures:
Ø
prerogatives;
Ø
shareholders;
Ø
as well as its responsibility of supervising the activity of the Executive Committee;
Ø
manner, of the relevant financial and operational information.
Constantly concerned by the principles of corporate governance, BRD - Groupe Société Générale has
adopted and applied the provisions of Corporate Governance Code of the Bucharest Stock Exchange
(BSE) since 2012. “The statement of compliance with the provisions of Corporate Governance Code of
the BSE as of December 31, 2024” is presented in Appendix 1.
BRD-Groupe Société Générale has its own Corporate Governance Code available to the interested
parties on institutional site in section: https://www.brd.ro/en/about-brd/shareholders-and-
investors/corporate-governance.
The corporate governance of BRD-Groupe Société Générale represents an ongoing process in which
integrity, responsibility and transparency are fundamental elements in making correct decisions and
setting goals that contribute to increasing the confidence of shareholders in the Bank, economic
efficiency, sustainable growth and financial stability.
As at December 31, 2024, Société Générale is the only significant shareholder of the Bank, holding
60.1684% of the share capital.
T
HE
G
ENERAL
S
HAREHOLDERS
M
EETING
The General Shareholders Meetings are an occasion for the members of the Board of Directors and the
senior management (Executive Officers acting together in the Executive Committee), to present to the
shareholders the results obtained during their office, based on the responsibilities entrusted to them.
General Shareholders Meetings are ordinary and extraordinary. The Ordinary General Shareholders
Meeting is held at least once a year, within no more than 4 months from the end of the financial year,
and the Extraordinary General Shareholders Meeting is held whenever necessary.
The Bank makes the best efforts, in compliance with the legal provisions in the field, to facilitate the
shareholders’ participation at the works of the General Shareholders Meetings, as well as the full
exercise of their rights.
The Ordinary General Shareholders Meeting decides on: the consolidated and separate financial
statements (based on the reports presented by the Board of Directors and by the financial auditor), the
dividend, election/ revocation of the members of the Board of Directors and of the financial auditor,
fixing the minimum duration of the financial audit contract, the remuneration due to the members of
the Board of Directors for the current financial year, the budget and the business plan for the following
financial year.
The Extraordinary General Shareholders Meeting decides on: change of the Bank duration, increase,
decrease or completion of the share capital by issuance of new shares, change of the headquarters,
merger or division, early dissolution of the Bank, issuance of bonds, conversion of a category of bonds
into another category or into shares, approval by the Bank executive officers’ of the legal papers
regarding the acquisition, alienation, rental, change or transformation into collaterals of the assets in the
Bank's patrimony, the value of which exceeds the limits set forth by the applicable laws, designation of
the capital markets on which the Bank’s shares will be listed and traded, change of the main activity
area and main activity.
The decisions on the amendment of the Articles of Incorporation shall be adopted in accordance with
the principles of competence laid down in the Articles of Incorporation of the Bank.
In order to ensure equal treatment and full and equitable exercise of the shareholders’ rights, the Bank
makes available to them all the information related to the General Shareholders Meeting and to the
adopted decisions, both by mass communication means and in the special section on its own Internet
page (https://www.brd.ro/en/about-brd/investors-and-shareholders).
The procedures regarding the works of the General Shareholders Meeting are available to shareholders
and other interested parties on the institutional site in section https://www.brd.ro/en/about-
brd/investors-and-shareholders/gsm-brd/procedure-organizing-and-running-gsm.
Within the General Shareholders Meeting, dialogue between the shareholders and the members of the
Board of Directors and/or executive management is encouraged. Each shareholder can ask the directors
questions regarding the activity of the Bank.
In 2024, there were two General Shareholders Meetings (one Ordinary General Shareholders Meeting
on April 25, 2024 and Extraordinary General Shareholders Meeting on April 25, 2024).
A
DMINISTRATION AND MANAGEMENT OF THE BANK
BRD - Groupe Société Générale adopted a unitary management system that is fully consistent with the
principles of good corporate governance, transparency of relevant corporate information, protection of
shareholders and of other categories of concerned persons (stakeholders), as well as of an efficient
operation on the banking market.
The management body, the Board of Directors and the Executive Officers (acting together in the
Executive Committee), operate under rules of organization and functioning clearly defined in the
"Directive on the organization and functioning of the Management Body".
The Management Body promotes high ethical and professional standards and a strong internal control
culture.
The Board of Directors annually assesses the adequacy of the Management Body, and its members
based on the reports of the Nomination Committee, prepared in accordance with "The policy of
suitability of the members of the Management Body and persons holding key functions and the policy
of induction and training of the members of the Management Body".
The composition, the size and the skills of the Management Body are well suited for the dimension and
the complexity of the Bank's activity.
The members of the Management Body meet the eligibility conditions and criteria established in the
"The policy of suitability of the members of the Management Body and persons holding key functions
and the policy of induction and training of the members of the Management Body", required for an
efficient administration/management of BRD-Groupe Société Générale:
Ø
compliance with the rules of prudent and healthy banking practices;
Ø
the nature, extent and complexity of the banking business and of the entrusted responsibilities,
as well as experience in a management position, acquired in an entity comparable, in terms of
size and activity, to the Bank;
Ø
and highly performing administration of the Bank's activity;
Ø
Ø
by the statutory bodies.
The selection of candidates for positions within the Management Body is made through a rigorous
process as defined in "The policy of suitability of the members of the Management Body and persons
holding key functions and the policy of induction and training of the members of the Management
Body".
The main objective of the selection process is to ensure the suitable candidates for the vacant positions
in the Management Body or to ensure the succession of the existing members.
The selection of the candidates excludes any discrimination on gender, age, ethnicity or any other kind
of discrimination, stipulated by the law.
Criteria such as reputation, theoretical knowledge and practical professional experience in specific areas
of BRD's activities, diversity, ensure a suitable structure of the Management Body.
The Bank recognizes and supports the benefits of the diversity of the members of the Management
Body and considers that it is an essential element in protecting and extending the competitive advantage
considering that, through diversity, maximum efficiency and performance, increasing innovation and
cooperation will be achieved within the Management Body, as well as within the Bank.
In this context, from the moment of the selection process, the aim must be to ensure diversity within
the Management Body from the perspective of educational and professional skills, competencies,
ensuring that the decision-making process of the Management Body is not dominated by any person or
small group of people, in a way that is detrimental to the Bank's interests.
Gender diversity, age and geographical origin are important elements, as they determine different
developments in terms of understanding cultural values, specific aspects of the financial-banking sector
and legislative framework that has an impact on the activity, so as to consciously facilitate the decisional
process regarding the Bank's strategy. The parameters mentioned above must be taken into account in
determining the best component of the Management Body.
In order to ensure diversity within the Management Body and to achieve the established target regarding
the representation of the under-represented gender, the Nomination Committee considers the following
actions:
●
●
●
●
The principle of diversity aims to achieve the goal of gender representation, male or female, poorly
represented. In this sense, the policy also aims to ensure equal opportunities for selection within the
Management Body based on their qualifications and professional experience. In the process of selecting
the members of the Management Body, all candidates will be evaluated based on the same criteria,
regardless of their gender.
Educational and professional training is another important element in order to achieve the diversity of
the Management Body, including from the perspective of collectively understanding all procedural,
economic, legal, financial, risk aspects etc.
In this sense, the existence of balance is pursued so that the members of the Management Body have
theoretical knowledge and practical experience regarding:
●
●
●
implementation;
●
of risk, including previous activity / responsibilities in this regard);
●
●
supervision and control mechanisms;
●
based on this information and appropriate controls and measures.
The selection of independent directors is subject to compliance with the criteria stipulated by the
Companies' Law no. 31/1990, the NBR Regulation no. 5/2013 on prudential requirements for credit
institutions and by the Bucharest Stock Exchange Code of Corporate Governance.
The exercise of the responsibilities by members of the Management Body is subject to obtaining NBR
approval.
B
OARD OF DIRECTORS
Starting with April 18, 2015, the Board of Directors is composed of 9 members, elected by the Ordinary
General Shareholders Meeting for a 4-year mandate.
The structure of the Board of Directors ensures a balance between executive and non-executive
members, so that no person or limited group of persons can dominate, in general, the decision-making
process of the Board of Directors.
As at December 31, 2024, the Board of Directors includes 4 independent members.
The year 2024 brought changes to the composition of the Board of Directors, as follows:
ü
Directors, starting to December 8, 2023 until May 30, 2024, on the vacant position existent in
the Board following Mr. Giovanni Luca SOMA’s renunciation to his mandate.
ü
of Directors, starting to July 1st, 2024;
ü
first Ordinary General Shareholders Meeting on April 25, 2024 (starting to March 21, 2024 until
April 25, 2024);
ü
-
starting to the 3rd working day after the reception of the NBR prior approval);
-
day after the reception of the NBR prior approval);
-
mandate, starting to the 3rd working day after the reception of the NBR prior approval);
-
mandate, starting to July 13, 2024);
-
the renewal Mr. Jean – Pierre Georges VIGROUX’s mandate as Independent director (4 years
mandate, starting to May 30, 2024).
ü
GARCIN - MEUNIER as Chairman of the Board of Directors, following the cessation of
Mr. Jean – Pierre Georges VIGROUX’s quality as Independent Chairman of the Board of
Directors, by reaching the term, starting to May 30, 2024.The nomination was subject to obtain
the NBR approval.
ü
-
Mrs. Delphine Mireille GARCIN – MEUNIER as member of the Board of Directors, respectively
as Chairman of the Board of Directors (4 years mandate, starting to June 6, 2024);
-
Mrs. Maria ROUSSEVA as member of the Board of Directors (4 years mandate, starting to
June 6, 2024);
-
Mr. Mathieu Jacques Paul Michel Mary VEDRENNE as member of the Board of Directors (4
years mandate, starting to December 6, 2024).
Also, pursuant the provisions of NBR Regulation no. 5/2013 on prudential requirements for credit
institutions and EBA Guidelines, structure of the Committees set up in its support the Board of Directors
was reviewed according to the modifications in the Board of Directors.
MEMBERS
OF
THE
BOARD
OF
DIRECTORS
AS
AT
DECEMBER
31,
2024
Delphine Mireille GARCIN-MEUNIER Chairman of the Board of Directors Member of the Audit Committee Member of the Remuneration Committee | Date of birth: June 30, 1976; Year BRD-Groupe Société Générale’s Board of Directors: 2024; Year Société Générale’s Board of Directors: Term of mandate expires in: 2028; She has capital. |
Information on mandates held According to regarding the mandate and two non-executive mandates), all in Société Générale | |
Biography She DEA in Econometrics from the University of Paris, Panthéon Sorbonne. She is a person with is 20 years in management positions in Société Générale such as: Banking & Financial Services (MIBS) and 2023), Management Committee (November 2020 to Communication and Rating Development Corporate positions occupied: Equity Capital Markets in –Corporate Finance Rothschild (1999 -2001). Currently, Member of the Group Executive Committee (starting May, 2023). Supplementary, Société Générale subsidiary November 2019), Chairman of Komercni Banka Supervisory board (since February |
Jean – Pierre Georges VIGROUX Independent Member of the Board of Directors Chairman of the Audit Committee Member of the Remuneration Committee | Date of birth: 31 July 1953; Year of the appointment as the Directors: 2016; Latest member: 2024; Term of mandate expires in: 2028 Other Société Independent Chairman Term December 8, 2023 - May 30, 2024; He Générale’s capital. |
1
Information on mandates held
According to the information provided through the statement of affiliation, he fulfils the conditions
regarding the number of mandates established by the law - two non-executive mandates: he holds one
within BRD-Groupe Société Générale and one outside the Société Générale Group (Sole director of
NUFERILOR 22A IMO SRL).
He is also member of the Management Board of ‘’Fundatia 9’’.
Biography
He graduated ESSEC France. He also studied Financial Audit at the CAFR University.
Until September 2014, Mr. Jean – Pierre Georges Vigroux held various management positions such as:
CEO Mazars Romania (2008-2014), partner responsible for Southeast Europe, Chairman of the
Supervisory Board of Pricewaterhouse Coopers Central and Eastern Europe (2001-2004 and 2004-
2006), founder and CEO of the Pricewaterhouse Coopers – Romania, member of the Pricewaterhouse
Coopers’s Executive Committee and Board of Directors – Central and Oriental Europe (1996-2001),
Chairman of The Foreign Investors Council (2003-2004).
Benoît Jean Marie OTTENWAELTER Independent Member of the Board of Directors Chairman of Risk Management Committee | Date of birth: December 28, 1954; Year Groupe 2017; Latest Board of Directors: 2021; Year BRD-Groupe Directors:2023 Term of mandate expires in: 2025; He Générale’s capital. |
Information on mandates held According to non-executive positions in not-for-profit mandates Group, | |
Biography He graduated the de l’Administration Economique Générale, interaction with the international banking regulators. During his the Executive Committee Corporates, Société Currencies and (2001-2004), Deputy Head then Head of Treasury Markets Derivatives manager in Société Générale Paris (1988-1990). Other Professor Statistique et de l’Administration Economique (1985-1988), Economic Forecaster at INSEE |
National Statistical Office (1981-1985), Researcher in Econometrics, Research Unit at INSEE - French
National Statistical Office (1979-1981).
He is currently also a
Member of
SOGECAP’s Board of Directors.
Liliana IONESCU – FELEAGA Independent Member Chairman of the Remuneration Committee Member of the Audit Committee Member of the Nomination Committee | Date of birth: October 31, 1969; Term BRD-Groupe Société Générale’s Board of Directors; December 20, 2018 – April 18, 2019; Year BRD-Groupe Société Générale’s Board of Directors: 2019; Latest member of the Board of Directors: 2023; Term of mandate 2027; She has no capital. |
Information on mandates held According to the regarding the number Groupe Société Générale. She is also Dean and member of ASE’s Board of Directors and Vice-President of Romanian Chamber of Financial Auditors. | |
Biography She graduated Starting 2003 she an International Management Degree obtained at Toulouse University. She has a vast academic experience (over 31 years in Bucharest ASE). Currently Mrs. Feleaga is Dean of Accounting and Management Information member of the ASE’s Board of Directors, member of Chamber of Financial Auditors of Romania, Member of International Association for Accounting Education and |
Bogdan-Alexandru DRĂGOI Independent Member Chairman of the Nomination Committee Member of the Risk Management Committee | Date of birth: May 27, 1980; Year of the Générale’s Board of Directors: 2019; Latest member of the Board of Directors: 2023; Term of mandate expires in: 2027; He has no shares in BRD-Groupe Société Générale's capital. |
Information on mandates held According to non-executive positions in not-for-profit mandates established and two non-executive mandates – one within BRD-Groupe Société Générale Générale Group. | |
Biography |
He graduated from the Tufts University, Fletcher, Boston, Massachusetts, specialization International
Relations and Economics, graduated Magna cum Laudae. Is member of Golden Key Honor Society,
has Order of the Star of Romania – rank of Knight and Sovereign Order of the Knights of Malta –
Mare Cruce pro Merito Melitensi.
He has 22 years’ experience in areas such as finance, capital market and banks. He has also experience
in relation with public state authorities.
Currently, he is Chairman of the Board of Directors of LION CAPITAL S.A., current name of SIF
Banat - Crișana (starting March 2015) and CEO (starting July 2015).
Other ongoing mandates: member of the Board of Directors of Vrancart SA (since December 2015),
Biofarm SA (since December), Administrare Imobiliare SA (since September 2015) and Firos SA
(since November 2015).
Through his previous positions, he acquired experience and expertise in different areas of activity
(Presidential Adviser – The Administration of the President of Romania, May 2012 - December 2014;
Ministry of Public Finance, February 2012 - May 2012; Secretary of State – Ministry of Public Finance,
January 2009 - February 2012; CEC Bank – Member of the Board, April 2009 - February 2012;
EximBank – President of Interministerial Committee for Financing, Warranties and Insurance
(CIFGA), January 2009 - February 2012; Fondul Proprietatea – Member of the committee for selecting
the manager of Fondul Proprietatea, March 2008 - October 2009; President of the Committee of the
representatives of Fondul Proprietatea SA, September 2010 - February 2012; European Investment
Bank – Member of the Board, January 2009 - February 2012; Council of Europe Development Bank –
Member of the Board, January 2009 – February 2012; General Director, Economic Dept. – Bucharest
Municipality, November 2007 - June 2008 etc.).
Valerie Marcelle Paule VILLAFRANCA Member of the Board of Directors Member of Nomination Committee | Date of birth: July 1, 1970; Year Société Générale’s Board of Directors: 2020; Latest renewal of the mandate as Independent member of the Board of Directors: 2024; Term of mandate expires in:2028; She capital. |
Information on mandates held According regarding the number Groupe Société Générale. | |
Biography She graduated Classe préparatoire aux grandes écoles, Lycée du Parc, Lyon (France) and has a Master degree in Finance from Paris IX Dauphine University and another Master in business with a specialization in Finance from Bordeaux Business School. She has an experience of 30 years as strategy and business consultant management positions such as Director - Head of Risk and Compliance practice Western Europe, South America and Africa in Boston Consulting Group (01/03/2014–17/03/2018), Managing Accenture (01/10/2010–28/02/2014), Managing Director - Founder and Global (01/05/2006–30/09/2010), Senior Manager in the Risk Management (01/05/2002–31/03/2006), Manager in the Risk Management practice (01/09/2000–30/04/2002), Manager in the business consulting practice - Head of Treasury services of Arthur Andersen, Paris (01/09/1998–31/08/2000). In March 18, 2018, she joined Société Générale as Group Head KYC Transformation, CPLE/KTP Société Générale and she occupied this position until the end of October |
Currently, since November 2021, she is Group Head of ESG Transformation (ESG by Design
program).
Veronique Member of the Board of Directors | Date of birth: August 10, 1966 Term Groupe January 5, 2023 – April 27, 2023; Year Groupe 2023 Term of mandate expires in: 2027; She Groupe capital. |
Information on mandates held According regarding the number of mandates established by the law - four non Générale Group, | |
Biography She Accounting, Economy, marketing. She positions Committee Banking in France, Member of Société Générale Group Management Committee 2021), Operating Officer of Société Générale Retail Banking Activities in France (October 2010 to May 2014), Director of Trade September 2007), Commercial Relationship Manager Financing – Corporate and Investment Banking Corporate and Investment Banking (1987 -1993). Since Société Générale Group Genefim & Sogefimur (companies specialised in leasing) and member of the Supervisory Committee of Lumo Glba 3. |
Maria ROUSSEVA Executive Member of the Board of Directors | Date of birth: April 24,1972; Term Groupe March 21, 2024 until April 25, 2024 |
Information on mandates held According regarding executive mandate. |
2
At the same time, since December 2023, she has been a Member of the Board of Directors of Council of
Banking Employers in Romania and, since May 24, 2024, she has been a Member of the Board of
Directors of Romanian Association of Banks.
Biography
She studied at the University of National and World Economy, Sofia, Bulgaria, with a major in
International Economic Relations, and she graduated from Leipzig University, Germany, with a master
degree in Business studies.
She is a person with over 25 years’ experience in the banking field, out of which over 22 in management
positions, outside and inside the SG Group, such as: Relationship Manager, Corporate Clients at
HypoVereinsbank Bulgaria (April 2000 –March 2002, Head of Multinational Corporates at HVB Bank
Biochim, Bulgaria (April 2002 – October 2005); Head of Corporate and Investment Banking at Société
Générale Expressbank, Bulgaria (November 2005 – October 2011); Member of the Management Board
/ Head of Corporate and Financial Markets at Société Générale Expressbank, Bulgaria (November 2011
– November 2012); Deputy CEO/ Deputy Chairman of the Management Board, Head of Corporate and
Financial Markets at Société Générale Expressbank, Bulgaria (November 2012 – June 2015); CEO/
Chairman of the Executive Board at Société Générale Bank Serbia (July 2015 – July 2019); Member of
the Supervisory Board at Ohridska Banka, Société Générale Group (February 2012 – December 2019);
Member of the Board of Directors at SKB Banka Slovenia, Société Générale Group (May 2018 –
December 2019), Member of the Board of Directors at Rusfinance Bank LLC, Rosbank Group (August
27, 2019 -March 1st, 2021), First Deputy CEO/ First Deputy Chairman of the Management Board at
PJSC Rosbank, Société Générale Group (August 21, 2019 - April 29, 2022), Member of the Board of
Directors of Société Générale Insurance LLC and Société Générale Life Insurance LLC (September 18,
2019 – May 31, 2022), Chairman of the Board of Directors of BRD Sogelease IFN S.A. (July 28, 2022 -
February 1st, 2024).
In 2021, she joined the Board of Directors of BRD Groupe Société Générale S.A. as a non-executive
member and held this mandate between July 26, 2021 and June 9, 2022.
Subsequently, between October 4, 2022 and November 23, 2023, she held the position of Deputy CEO,
Global Corporates.
Between March 21, 2024 and April 25, 2024 she was Interim member of the Board of Directors of BRD.
Currently, since November 24, 2023, she has been holding the position as CEO of BRD, and since June
6, 2024, she holds the position of Member of the Board of Directors of BRD.
Supplementary, since March 7, 2024, she is member of the Board pf Directors of ALD Automotive SRL.
At the same time, since December 2023, she has been a Member of the Board of Directors of Council of
Banking Employers in Romania and, since May 24, 2024, she has been a Member of the Board of
Directors of Romanian Association of Banks.
Mathieu VEDRENNE Member of the Board of Directors Member of the Risk Management Committee | Date of birth: August 24, 1972; Year Société Générale’s Board of Directors: 2024; Term of mandate expires in: 2028; She capital. |
Information on mandates held According regarding the number of mandates three non – executive mandates), all inside Société Générale, | |
Biography He has a as well as de Paris, France”. He is |
Program. In 2018, he obtained a Professional Certification from the French Financial Markets Authority
(AMF). Finally, he is an Auditor / Promotion 2011 from the “Institut des Hautes Etudes de l'Entreprise
(INHES) ”.
He is a person with over 23 years' experience in banking field out of which over 19 years in management
positions such as: Deputy CEO of SG Private Banking (2023 – November 2024), Member of the
SOCIÉTÉ GÉNÉRALE Group Management Committee (Since 2020), Head of SG Private Banking
France – Paris (2019 - 2023 ), Chief Commercial Officer, SG Private Banking France (2017 – 2019),
Head of Wealth Management Solutions, SG Private Banking France (2015 – 2017), Deputy CEO of SG
Private Banking Switzerland – Geneva, Member of the Executive Committee and Secretary to the Board
of Directors (2012 – 2015), Chief of Staff to the Chairman & CEO of the Group, Frédéric Oudea
(2008 – 2012), Strategic Studies Manager, Corporate Strategy Department of the Group (2005 - 2008).
Other functions occupied in banking field: Team Manager, General Inspection Department (2001 – 2005).
The functions occupied in specialized field: Investor Manager for PriceLab in PriceWaterhouseCoopers
(PwC) - Paris (2000 - 2001) and Senior Consultant, Banking and Insurance practice (1998 – 2000).
Currently, he is CEO of SG Private Banking (since November 2024).
Supplementary, he has other three mandates in force, all inside SG Group - as Member of the Board of
directors of SOGECAP (Insurance subsidiary of SG Group, 4th Life insurance company in France),
SOGEPROM (Real Estate subsidiary of SG Group, 13th real estate developer in France) and as Member
of the Supervisory Committee KWIPER (digital platform of wealth planning).
A
TTRIBUTIONS AND RESPONSIBILITIES OF THE
B
OARD OF
D
IRECTORS
The main competences of the Board of Directors, including those that cannot be delegated to members
of the executive management, are set by law, by the Articles of Incorporation, Internal Regulations of
the Bank, the “Directive on management of credit authorities within BRD”, and also by the Directive
‘’Regulation of organization and functioning of the Management Body’’. In cases permitted by the law,
the General Shareholders Meeting may delegate other attributions to the Board of Directors as well.
The Board of Directors sets the main business and development directions of the Bank and supervises
the activity of the Bank and of the executive management, and also has the ultimate responsibility for
the operations and the financial strength of the Bank. The Board of Directors decides on the accounting
and financial control systems and approves the financial planning.
The Board of Directors approves the Bank’s business and risks management strategy, and makes sure
that the activity of the executive management complies with the approved strategy and policies.
The Board of Directors approves the organisational structure of the Bank, the risk management policy,
the general remuneration policy of the employees, directors and officers of the Bank.
M
EETINGS OF THE
B
OARD OF
D
IRECTORS
The Board of Directors meets whenever necessary, but at least once every 3 months.
The notices of the Board of Directors’ meetings specify the place, date and the draft agenda for the
meeting, and no decision can be made regarding unexpected issues, except for emergency cases and
provided they are ratified by the absent members at the next meeting.
Minutes are drafted for each meeting and include the names of the participants, the order of the
deliberations, the decisions made, the number of votes cast and the separate opinions.
On February 10, 2016, Mrs. Flavia Popa – Corporate Secretary was nominated as Secretary of the Board
of Directors.
A
CTIVITY OF THE
B
OARD OF
D
IRECTORS IN
2024
In 2024, 38 meetings of the Board of Directors took place, and the decisions of the Board were generally
made with unanimity of votes. In specifics cases where certain directors were in conflict of interest,
they abstained from voting.
The Directors attended to the Board of Directors' meetings as follows:
Ø
Mr. Benoît Jean Marie Ottenwaelter (Independent Member) attended to all the Board's
meetings (38),
Ø
into force of her mandate as Chairman of the Board of Directors;
Ø
period when she held the mandate as Interim member of the Board of Directors, i.e. after the
entry into force of her mandate as Member of the Board of Directors;
Ø
Ø
Villafranca (Member) attended to 36 Board's meetings;
Ø
22 Board's meetings organised until her renunciation;
Ø
Ø
after the entry into force of his mandate (2).
On the Board of Directors’ agenda, the following main subjects were included: credits and other
engagements in its area of competence, Consolidated and Separate Financial Statements, 2023
Sustainability Report, Information on the internal audit activity carried out within the Bank and 2024
Audit Plan, the report regarding the 2023 internal control, approval of the Liquidity Risk Management
Framework. Risk assessment and Risk Appetite Framework, Risk Appetite Statement, Approval of
ICLAAP framework and Internal Capital and Liquidity Adequacy Assessment Process (ICLAAP) for
December 31, 2023, The results of the annual reporting campaign of monitoring the outsourced
services, Information regarding the outsourcing of the activities and approvals for the significant
outsourcing activity, Report on Transparency and Disclosure Requirements, BRD Contribution to
Société Générale Group Recovery Plan 2024, the main axes for the Bank's transformation, Update on
Horizons 2027 strategy and BRD Acceleration presentation, changes in the Bank's management body,
annual reports on adequacy of the members of the management body and the key functions, changes in
the structure of the committees set up to support the activity of the Board of Directors, modifications in
internal regulations in its specific power, changes in the organizational structure, calls of the
shareholders' meetings organized in 2024 and all the notes related to the items on the agenda,
Remuneration Policy, quarterly compliance reports, 2023 Safeguarding Annual Activity Report -
MiFID 2, 2023 Markets Compliance Activity Report and 2024 control plan for supervised activities
under Financial Supervisory Authority Regulation 5/2019 perimeter, Approval of the 2024 Plan for the
sale of unused buildings.During its meetings, the Board of Directors is regularly updated on the
economic, monetary and financial environment, on the evolution of the regulations in force, Bank's
financial and commercial results, significant risks, on the main events that took place within BRD, the
measures disposed by the supervisory authorities and the status of their implementation, as well as on
the activity of committees set up to support the activity of the Board of Directors: the Audit Committee,
Risks Management Committee, Nomination Committee and Remuneration Committee.
3
of Directors, starting to December 8, 2023 until May 30, 2024 and Independent Member of the Board
of Directors, starting to May 30, 2024.
4
March 21, 2024 to April 25, 2024 and currently she is Member of the Board of Directors starting to June
6, 2024.
5
Directors, starting to July 1st, 2024.
C
OMMITTEES SET UP IN SUPPORT OF THE BOARD OF DIRECTORS
In order to develop and maintain good practices of business administration, the Board of Directors set
up four committees that assist it in performing its attributions. The structure, the organisation and
operation rules as well as the attributions of these committees are set and defined in the Committee
Directive set up to support the Board of Directors.
A
UDIT
C
OMMITTEE
The Audit Committee consists of 3 non-executive directors, of which 2 are independent.
As at December 31, 2024, the members of the Audit Committee were: Mr. Jean-Pierre Georges Vigroux
(Independent Chairman), Mrs. Liliana Ionescu - Feleaga (Independent Member) And Mrs Delphine
Garcin Meunier (Member).
The year 2024 brought the following changes to the composition of the Audit Committee:
ü
starting to June 6, 2024.
The members of the Audit Committee have the experience required for their specific attributions within
the committee.
The Audit Committee meets on a quarterly basis or whenever necessary.
The Audit Committee assists the Board of Directors in performing its responsibilities in terms of
internal control and financial audit. To this effect, the Audit Committee makes recommendations to the
Board of Directors regarding the strategy and policy of the credit institution in the field of internal
control and financial audit. The Audit Committee’s responsibilities are presented in the Bank's
Corporate Governance Code available to the interested parties on institutional site in section:
https://www.brd.ro/en/about-brd/shareholders-and-investors/corporate-governance.
In 2024, 10 meetings of the Audit Committee took place, in which there were analysed the activity and
reports of internal control and conformity, internal audit and external audit.
The attendance was as follows:
Ø
Committee's meetings (10 meetings);
Ø
force of her mandate.
After each meeting, minutes were drafted, specifying the aspects that required improvements, as well
as recommendations for their application.
R
EMUNERATION
C
OMMITTEE
The Committee consisted of 3 non-executive directors, of which 2 are independent directors. As at
December 31, 2024, the members were: Liliana Ionescu – Feleaga (Independent Chairman), Mr. Jean-
Pierre Georges Vigroux (Independent member) and Mrs. Delphine Garcin Meunier (Member).
The year 2024 brought the following changes to the composition of the Remuneration Committee:
ü
starting to June 6,2024.
The Remuneration Committee meets annually, or whenever necessary. In 2024, 9 meetings of the
Remuneration Committee took place.
The attendance was as follows:
Ø
Committee's meetings (9 meetings);
Mrs. Delphine Garcin Meunier attended to all 6 meetings organized after the entry into force of her
mandate.In order to perform the attributions entrusted, the Remuneration Committee analyses the
Bank's remuneration policy which it submits to the Board of Directors for approval; it submits proposals
regarding the individual remuneration of non-executive directors and the additional individual
compensation of the directors entrusted with specific functions within the Board as well as the
individual remuneration of the officers; it supervises directly the remuneration of the coordinators of
6
7
the risks’ management and compliance functions; and it supervises the application of the principles of
the staff remuneration policy and informs the Board of Directors in this respect.
The Remuneration Committee responsibilities are presented in the Bank's Corporate Governance Code
available to the interested parties on institutional site in section: https://www.brd.ro/en/about-
brd/shareholders-and-investors/corporate-governance.
R
ISKS
M
ANAGEMENT
C
OMMITTEE
The Committee consisted of 3 non-executive directors. As at December 31, 2024, the members were:
Mr. Benoît Jean Marie Ottenwaelter (Chairman), Mr. Bogdan-Alexandru Drăgoi (Independent
Member) and Mr. Jacques Paul Michel Mary Vedrenne (Member)
The Risks’ Management Committee meets on a quarterly basis or whenever necessary.
In 2024, 4 meetings of the Risks’ Management Committee took place.
The attendance was as follows:
Ø
Management Committee's meetings (4 meetings);
Ø
did not attend the 2 meetings organized during her
membership;
Ø
organized after he became a member of this committee.
At the meetings of the Risks’ Management Committee may participate, as permanent guests, the
members of the Executive Committee, Chief Financial Officer, Risk Piloting Pole Executive
Officer/Risk Deal Flow Pole Executive Officer, Retail Distribution Executive Officer, Top Corporates
Executive Officer/Sales Manager Top Corporates, DPF Executive Officer, BIS Director and Corporate
Secretary.
The Risks’ Management Committee assists the Board of Directors in defining the global risks strategy
of the Bank and the risk appetite and assists the Board of Directors in overseeing the implementation
of such strategy.
Its objective is the management of significant risks, risks with high impact on the assets and/or image
of the Bank (credit risk, market risk, liquidity risk, operational risk and reputational risk), as well as the
risks associated to the outsourced activities.
The Risks’ Management Committee’s responsibilities are presented in the Bank's Corporate
Governance Code available to the interested parties on institutional site in section:
https://www.brd.ro/en/about-brd/shareholders-and-investors/corporate-governance
N
OMINATION
C
OMMITTEE
As at December 31, 2024, the Committee was composed of 3 non-executive directors of the Board of
Directors: Mr. Bogdan-Alexandru Drăgoi (Chairman), Mrs. Liliana Ionescu-Feleaga (Independent
Member) and Mrs. Valerie Marcelle Paule Villafranca (Member).
The Nomination Committee meets half-yearly or whenever necessary.
In 2024, 8 meetings of the Nomination Committee took place.
The attendance was of 100%;
In exercising its powers, the Nomination Committee identifies, makes proposals and submits for
approval by the Board of Directors, the nominees to fill positions within the management body; is
involved in formulating the policy on the selection, evaluation and sequencing of the management body
members, which it submits to the Board of Directors for approval; it assesses periodically and at least
once a year the structure, size, composition and performance of the management body and makes
recommendations to the Board of Directors on any modifications which it considers necessary.
The Nomination Committee’s responsibilities are presented in the Bank's Corporate Governance Code
available to the interested parties on institutional site in section:
8
st
, 2024 and Mr.
Jacques Paul Michel Mary Vedrenne has became member starting to December 6,2024.
https://www.brd.ro/en/about-brd/shareholders-and-investors/corporate-governance
E
XECUTIVE
M
ANAGEMENT
The management and the coordination of the current activity of the Bank is delegated by the Board of
Directors to the executive officers.
The executive officers of the Bank are elected by the Board of Directors, among directors or from
outside the Board, and act together in the Executive Committee.
The term of mandate is of 4 years and can be renewed.
The Executive Committee is composed of the CEO and six Deputy CEOs. The Executive Committee
is led by the CEO.
The year 2024 brought changes to the composition of the Executive Committee, as follows:
ü
for a 4 years period, starting to February 18, 2024;
ü
period starting to May 23, 2024;
ü
June 21, 2024;
ü
August 31, 2024. He took over a new position within the Société Générale Group;
ü
rd
, 2024, as Deputy CEO
Projects and Operations, for a 4 years mandate, starting to the 3
rd
of the NBR prior approval;
ü
to November 15, 2024.
M
EMBERS OF THE
E
XECUTIVE
C
OMMITTEE AS
OF
D
ECEMBER
31,
2024
Maria ROUSSEVA CEO | Date of birth: April 24, 1972; Year of the Term of mandate expires in: 2027; She capital. |
Compliance procedures laundering and terrorist money laundering and terrorism financing'' |
9
Structures coordinated: General Department , Human Legal Department , Internal Audit and Security Member committees: following decisional Pricing Committee, Legal Entities Review Committee; Market Conduct Oversight Control Committee, she is member of Quarterly Business Review of Objectives within the Tribes. Other information: please see the section “Board of Directors” |
Alexandru-Claudiu CERCEL-DUCA Deputy CEO - Financial Markets | Date of birth: February 17, 1968; Year of the Term of mandate expires in: 2025; He capital. |
Coordinated the Financial Markets Pole including the following structures Titles Analysis Service Unit. Member committees: Management Innovation Committee, Sustainability the Communication Committee, Customer Board and Chairman Quarterly Business Review of Objectives within the Tribes. | |
Information on mandates held According to the executive mandates established by the law- one executive mandate within BRD-Groupe | |
Biography Graduated management |
10
additional responsibilities generated by the modifications in the Compliance Department.
11
responsibilities generated by the transfer of the Legal Department in the coordination of the CEO.
12
responsibilities generated by the creation of the Transformation Department under the coordination
area of CEO and on October 29,2024, she received the NBR prior approval for the exercise of the
additional responsibilities generated by the modifications in the Transformation Department.
13
additional responsibilities generated by the transfer of the Security Division in the coordination of the
CEO.
institutions: Nomura Bank (London), Bank of America (San Francisco), or the Montreal University and
London Business School.
He graduated the Executive Master of Business Administration (EMBA) - ASEBUSS Bucharest /
University of Washington, USA. Between 1992 and 1993, he was a sales manager in the field of
communications products.
He has worked within BRD-Groupe Société Générale since 1993, and occupied the positions of
Treasury Officer, FX technical analyst, FX trader, Treasury Deputy Manager, Market Operations
Manager and Executive Officer of Financial Markets.
Philippe THIBAUD Deputy CEO Risks | Date of birth: February 5, 1968 Year of the Latest renewal of the mandate: 2024 Term of mandate expires in:2028; He capital. |
Structures coordinated: The Level 2 Control Unit, Risk Deal Flow Pole and the Special Member committees: Management Innovation Committee, Sustainability Committee the following Retail Committee, Committee. Also, he and of Quarterly Business Review of Objectives within the Tribes. | |
Information on mandates held According to the executive mandates established by non-executive mandates Générale Group. | |
Biography He Supérieure de from Université Paris XI – Val Mr. Thibaud has 24 years of experience in risk management and credit analysis field. During his credit risk, operational risk, LOD2 as well teams. Mr. Générale, Paris (January based France (March 2008-August 2014), Relationship Amsterdam headquarters (May 2000-August 2001). He Université |
Technologies de Sceaux (September 1994-August 1996), Teacher of Accounting and Management,
Training co-coordinator of the Chartered Accountant Preparation at Ecole Nationale de Commerce de
Bessieres (September 1996-April 2000).
In September 1
st
, 2019, he joined BRD - Groupe Société Générale as Advisor of BRD’s CEO and since
February 18, 2020, he holds the position of Deputy CEO Risks.
Mădălina - Otilia TEODORESCU
Deputy CEO Retail
Date of birth: May 24, 1974
Year of the appointment as Deputy CEO: 2023
Term of mandate expires in: 2027;
She has no shares in BRD-Groupe Société Générale's
capital.
Coordinates Retail Pole including the following structures: Retail Customers Value Management
Department, Retail Distribution Department, Contact Centre Department, Retail Digital Transformation
Department, European Funds, National Programs and Partnership Department, Alternative Channels Sales
Division and Network Regions Retail.
Member of various decisional and consultative Committees (Member of the following decisional
committees: Compliance Committee, Governance and Data Quality Committee, Asset and Liability
Management Committee, Pricing Committee, Crisis Committee, Projects Review Committee, Innovation
Committee, Sustainability Committee ESG, Legal Entities Review Committee; Member of the following
consultative committees: Internal Control Committee, Human Resources Committee, Risk Retail
Committee, Communication Committee, Customer Board Committee. Also, she is member of Quarterly
Business Review of Objectives within the Tribes.
Information on mandates held
According to the information provided through the statement of affiliation, he has no executive and non-
executive positions in not-for-profit institutions and fulfils the conditions regarding the number of
mandates in companies established by the applicable law - one executive mandate within BRD- Groupe
Société Générale and two non - executive mandates (one inside Société Générale Group and one outside
Société Générale Group).
Biography
She graduated from Faculty of Finance, Banking and Trade Relations of the Romanian-American
University.
She has over 29 years of experience in the banking field, out of which 24 in management positions such
as: Manager - Citibank Romania (Sept 2000 – June 2002); Head of department for VIP Sales and Strategic
Partnerships; Retail Area – Raiffeisen Bank SA (June 2002 – Dec.2003); Director of Consumer Division,
Retail Area – Raiffeisen Bank SA (January 2004 –October 2005); Executive Director of Private
Individuals Lending Division, Retail Area – Raiffeisen Bank SA (October 2005 –June 2008); Executive
Director – Chief Commercial Officer – Raiffeisen Bank SA (June 2008 –Aug. 2014); Deputy General
Manager - Piraeus Bank Romania (Sept. 2014 – June 2018); Vice President - First Bank Romania, Member
of Executive Management Committee (since June 2018 - March 3, 2023).
Other positions occupied in the banking industry: Member of the Board of Directors, Raifeissen Asset
Management (September 14, 2009 – August 31, 2014); Member of the Board of Directors, Raiffeisen
Leasing (December 8, 2011- August 31, 2014); Advisor to the Chairman, Romanian Commercial Bank -
BCR - Head-office (Sept. 1999 - Sept. 2000); Head-office – Documentary Operations - Documentary
Affairs officer, Victoria Branch – Documentary Operations – Senior Economist Head office - Corporate
Banking Department - Relationship Manager BANCOREX (1995 –Sept. 1999).
Since June 9, 2023, she holds the position of Deputy CEO Retail BRD - Groupe Société Générale S.A.
Supplementary, currently, she is member of the BRD Asigurări de Viața S.A. Board of Directors (since
September 16, 2024) and of Biroul de Credit S.A. (since March 25, 2024).
Jean-Philippe GUILLAUME Deputy CEO Global Corporates | Date of birth: June 27, 1968 Year of the Term of mandate expires in: 2028; He capital. |
Coordinates the Environmental Social and Positive Coverage Department, Division, Global Transaction Banking Department, Corporates Digital Transformation Division; Member committees: Management Innovation Committee, Sustainability Committee ESG, Legal Entities Review Committee; Member the Non-Retail Risk Committee, Communication Committee, Banking Committee (CBC) . Also, he is member Tribes. | |
Information on mandates held According to the executive mandates established by the law- one executive mandate within BRD- | |
Biography He Economics and Finance, as well as in Corporate Finance and Capital Markets. Also, he Management. He has 31 Société Générale (KB), December 31, 2023); Member of 2019); Chairman of the Board 13, 2019); Chairman of 12, 2017 Bulgaria, Slovenia, Chief Executive Cameroon (January d’Affacturage Commercial and Marketing of the 31, 2011); 2010) ; Chief Executive Officer of |
14
2007); Deputy Chief Executive Officer of Compagnie Générale d'Affacturage (May 25,1999 to June
30,2002).
Other positions occupied: Banking Inspector Société Générale (internal audit and advisory) from
September 7, 1992 to May 24, 1999.
Other mandates in the financial field: Chairman of the Advisory Board of ALD Lease Finanz, SG Group,
Germany (July 1, 2022 – December 31,2023) and outside the financial field: Member of the Supervisory
Board of Reezocar, SG Group, France (December 15, 2021- December 31,2023).
In January 2024, he joined BRD - Groupe Société Générale by taking over the position of Advisor to
the CEO.
Since May 23, 2024, he holds the position of Deputy CEO, Global Corporates.
Vladimir POJER Deputy CEO Finance/Treasury | Date of birth: September 16, 1983 Year of the Term of mandate expires in: 2028; He capital. |
Structures Division, Cash Administration Department. He is member of various decisional and consultative Committees (Member of the following decisional committees : Compliance , Governance Management Innovation Committee, the : Internal Communication Committee, Committee). Also, he is member of Quarterly Business Review of Objectives | |
Information on mandates held According to the executive mandates established one non-executive mandate outside Société Générale Group. | |
Biography He holds a Master of Science degree in Monetary the University of Economics, Faculty of Accounting, Prague and a Bachelor of Science in International Business at University of Economics, Mr. Vladimir POJER is a person with over 18 years’ experience in the banking field, out of which more than Reporting st , st , Planning and st , st , Management Accounting / Strategy & st , 2016 to st Pyramida a.s. st st 2024). Other functions (June st , st , Banking (September 1 st , 2006 to May 31 st , 2007). |
15
In the non – financial sector, he was Non-executive Chairman of the Supervisory Board of Foundation
Nadace Komercni Banky Jistota (July 15
th
, 2018 to May 27
th
, 2021).
Starting September 1
st
, 2024, he has been a member of the Supervisory Board of CIT ONE SA.
In September 2024, he joined BRD - Groupe Société Générale by taking over the position of Advisor
to BRD’s CEO and since November 15
th
, 2024, he has been holding the position of Deputy CEO,
Finance - Treasury.
A
TTRIBUTIONS AND RESPONSIBILITIES
The executive officers are in charge of taking all the measures in relation to the Bank’s management,
within the limits of the Bank's object of activity and in compliance with the powers exclusively reserved
by law or by the Articles of Incorporation to the Board of Directors and the General Shareholders
Meeting.
Each executive officer is vested with all the powers to act on behalf of the Bank and to represent it in
the relationships with third parties, in any circumstances related to the activities that they coordinate, in
compliance with the legal provisions, the Articles of Incorporation and the Internal Regulations of the
Bank.
Within the limit of the powers and responsibilities set forth by the Board of Directors, the executive
officers act jointly, organised in the Executive Committee, for a series of activities / operations specific
to the activity of the Bank, detailed in the Articles of Incorporation, in the Internal Regulations of the
Bank, the “Directive on the management of credit authorities within BRD” and in the Directive
''Regulation of organization and functioning of the management body''.
M
EETINGS OF THE
E
XECUTIVE
C
OMMITTEE
The meetings of the Executive Committee are held at least once every two weeks, or any time the
activity of the Bank requires it.
In 2024, 126
meetings of the Executive Committee took place.
The decisions of the Executive Committee are made with votes “FOR” of at least four members of the
Executive Committee.
Voting cannot be delegated within the meetings of the Executive Committee.
The minutes of the meeting are signed by the executive officers who attended the meeting immediately
after their drafting.
The Executive Committee provided the Board of Directors, regularly and comprehensively, detailed
information about all the major aspects of the Bank's activity, including risk management, potential risk
assessment and compliance matters, measures taken and recommended, irregularities found while
performing its attributions. Any major event is communicated immediately to the Board of Directors.
C
OMMITTEES SET UP WITHIN THE
B
ANK
(
OTHER THAN THE COMMITTEES SET UP IN SUPPORT
OF THE
B
O
D)
In order to develop and maintain good practices in the management of its activities, the Executive
Committee decided to set up Committees to assist it in carrying out its responsibilities.
These Committees may have a decisional or consultative role, as described in the mission and
responsibilities of each committee.
The Committees will decide on aspects that do not fall within the competence of other statutory bodies
according to the legislation in force, internal regulations or the Bank's Articles of Incorporation.
The Executive Committee will be informed annually or as often as necessary of the decisions taken by
the decisional committees.
In terms of their consultative role, the Committees will forward the elements analysed/discussed to the
Executive Committee for information or decision, if deemed necessary.
Other Committees may also be set up at Bank level in order to improve the efficiency of the activity.
Interaction between committees will be ensured by the Secretariat of the Committees, who will send
the relevant extracts from the minutes of committee meetings to the corresponding Secretariat.
These committees are:
ü
DECISIONAL COMMITTEES:
Compliance Committee, Governance and Data Quality
Committee, Assets and Liabilities Committee, Pricing Committee, Crisis Committee (Crisis
Cell),
Entities Review Committee;
ü
CONSULTATIVE COMMITTEES:
Internal Control Committee, New Product
Committee, Human Resources Committee, Occupational Safety and Health Committee, Risk
Retail Committee, Non-Retail Risk Committee, Follow-Up Committee, Communication
Committee,
Customer Board,
Benchmarks and Market Conduct Oversight Committee,
Correspondent Banking Committee;
ü
OTHER COMMITTEES:
IT Risk Management Committee, Quarterly business review of
objectives within the tribes.
BRD
-
G
ROUPE
S
OCIÉTÉ
G
ÉNÉRALE
’
S SHARES HELD BY THE MEMBERS OF THE
B
OARD OF
D
IRECTORS AND OF THE
E
XECUTIVE
C
OMMITTEE AS AT
D
ECEMBER
31,2024:
N
AME
UMBER OF SHARES
A
LEXANDRU
-C
LAUDIU
CERCEL
-DUCA
1,030
R
IGHTS OF SHAREHOLDERS
BRD-Groupe Société Générale respects the rights of its shareholders and ensures equal treatment for
all of them.
V
OTING RIGHT
The Bank's shares are indivisible and confer equal rights to their holders, each share entitling to one
vote in the General Shareholders Meeting.
General Shareholders Meetings are called by the Board of Directors.
The notice of meeting is sent at least 30 days before the date set, in compliance with the legal provisions
regarding the publicity and notification of the Financial Supervisory Authority - Financial Instruments
and Investments Sector and of the Bucharest Stock Exchange ("BVB").
The shareholders can attend the General Shareholders Meetings in person, through a representative,
they can vote by correspondence or voting by electronic means using AGABRD.VOTING.ro platform.
Voting by electronic means in General Shareholders Meetings will be possible only under the conditions
of proper compliance with the provisions of Law no. 31/1990 on companies, republished, as amended
and supplemented, as well as with the special provisions of Law no. 24/2017 and Regulation 5/2018,
including those relating to the application of the cumulative voting method.
Shareholders registered in the Register of Shareholders of BRD kept by the Central Depository S.A. on
the reference date, may participate and vote at the General Shareholders Meeting by using electronic
means of voting, both in circumstances where shareholders are not physically present at the meeting
and in circumstances where shareholders are physically present at General Shareholders Meetings.
Voting shall be carried out through an online web platform subject to the requirements and constraints
necessary to ensure the identification of shareholders and the security of electronic communication and
only to the extent that they are proportionated to the achievement of those objectives.
Forms of power of attorney and vote by correspondence are made available to the shareholders in the
special section on the Bank's own Internet page.
The procedures regarding the works of the General Shareholders Meeting are available to shareholders
and other interested parties on the institutional site.
R
IGHT TO DIVIDENDS
Each share of the Bank, held by a shareholder at the registration date (set according to the specific
regulations and approved by the General Shareholders Meeting) entitles the shareholder to dividends
for the prior financial year, in the quantum and conditions established by the General Shareholders
Meeting.
The Dividend Policy is available to shareholders and other stakeholders on institutional site in Corporate
Governance section:
https://www.brd.ro/en/about-brd/investors-and-shareholders/corporate-guvernance/dividend-policy
The dividend policy reconfirms the engagement of the Board of Directors to offer shareholders the
opportunity to obtain a return for the invested capital and for the Bank the opportunity for a sustainable
development.
R
IGHT TO INFORMATION
BRD makes sure its shareholders have access to relevant information, so that they may exercise all their
rights in an equitable manner. The communication strategy of the Bank relies on the following
principles:
Ø
information;
Ø
Ø
BRD-Groupe Société Générale sets up and maintains a dedicated structure managing the relation with
investors and other stakeholders.
Shareholders / investors may send their requests to the Bank through e-mail or over the telephone, at
the contact data displayed on the institutional site. The relevant information is published on the Bank's
internet page, both in Romanian and in English.
For the information of shareholders and investors, the Bank sets at the beginning of the year a financial
reporting calendar, which it sends to the Bucharest Stock Exchange and to the Financial Supervisory
Authority. The quarterly financial reporting is prepared according to International Financial Reporting
Standards as adopted by the European Union - and in compliance with the regulations specific to the
capital markets.
In order to communicate on its financial results, BRD-Groupe Société Générale organizes meetings/
live audio webcasts with financial analysts, investment consultants, brokers and investors. These
meetings during which the results of the Bank are presented, are an opportunity for Bank’s management
and the financial market analysts to exchange opinions. The same policy of transparency has been
adopted regarding the communication with the rating agencies and with capital markets institutions. In
2024, BRD Group organised 4 live audio webcasts for presenting its financial results.
2025 financial calendar
Publication of the preliminary financial results December 31, 2024 | February 6, 2025 |
General Shareholders Meeting | April 24, 2025 |
Publication of the Annual Report 2024 – financial results as of December 31, 2024 | April 24, 2025 |
Communication of results as of Q1 2025 | April 30, 2025 |
Communication of results as of st | July 31, 2025 |
Communication of results as of | October 30, 2025 |
3. H
UMAN RESOURCES
K
EY FIGURES
2024
Ø
5,670
active employees in BRD, with:
●
516
external recruitments
●
658
functional mobility
●
9.9%
7.4%
voluntary turnover.
The number of active employees of the Group as of 2024 end was 5,840 (2023 end: 6,070), while the
number of active employees of the Bank as of 2024 end was 5,670 (2023 end: 5,854). Active employees
are those present at work (excluding maternity leave and long - term sick leave).
In 2024, the Human Resources Department (HR) continued to deliver projects and actions in line with
the strategic HR axes: career management, managerial development, employee engagement,
efficiency and communication.
B
USINESS SUPPORT AND CONTINUOUS IMPROVEMENT
Throughout 2024, the Human Resources Department continued to support the business, by sustining
the evolution of the business model. The Bank's goal was to ensure efficient and dynamic structures, in
order to better respond to customer needs (increased focus on remote banking operations) and to
maximize the results obtained. Among the main projects we mention: optimizing the structure of the
different departments at the Head Office level with a focus on span of control and delayering to create
a stronger empowerment and to increase the ownership of each employee, increasing the limits of
competences for the corporate commercial structure, territorial reorganizations at network level
(relocations and mergers of agencies) etc.
C
AREER
M
ANAGEMENT
Throughout 2024, the Human Resources Department continued individual meetings with employees
(4246 meetings in total, out of which 3002 for career management) to identify their potential as well as
their expectations related to career development, based on their skills and abilities. Also, meetings were
held with all new employees to accompany them efficiently in the onboarding process.
Over 600 employees changed their position as a result of the Bank’s internal mobility policy, changes
that required specific trainings for each role, with different learning methods.
516 people were recruited from abroad in 2024, mostly at the network level, to fill vacancies, expand
commercial capacity and achieve the Bank's sales objectives, but also certain highly specialized
positions in the headquarters, with a focus on the IT area to support the omni-channel and digital
strategy as well as Anti-Fraud, Risk, Level 2 control for better risk management.
90% of our employees have graduate studies and 10%, undergraduate studies.
T
RAINING
&
R
ISK
A
WARENESS
In order to support the professional development of employees in line with business objectives, we are
implementing a comprehensive annual training plan.
The 2024 training strategy aimed both at developing commercial, technical (business strategy),
managerial and specific regulatory skills through risk management and compliance for BRD employees.
Throughout the year, compulsory training courses have been allocated to all staff or certain populations
on various topics such as: conformity, conduct, ethics, internal control, financial regulations, reporting
standards, culture and conduct, etc.
The training plan is diversified, adapted to meet the needs of employees at all levels (junior,
senior/expert) and focuses on supporting the development of role-specific skills through a balanced
approach to theoretical and practical learning. Employees are encouraged to actively participate in the
selection of training initiatives, working with their managers to assess and address their individual
training requirements.
The e-learning project developed with the CPBR (Romanian Banking Employers' Council), the Trade
Union representatives (via the FSAB) and the 4 Member Banks (BCR, Raiffeisen, ING and
Unicredit), continued. The project has as its main objective the development of employees' skills so
that we can adapt more easily to in the labor market and the challenges of the digital future.
The main development axes in the training programs were:
Ø
in cooperation with the Social General (“Code of Conduct”, “Information Security”, Market
Abuse “Fatca”, “Anti-corruption”, “Environmental risk management”, “Fight against money
laundering”, etc.) and local e-learning (OSH — safety and health at work, “Physical Security
Events”, “GDPR”, “KYC-AML-CFT” module for newcomers), multiplying practical cases in
virtual/face-to-face courses;
Ø
on the ESG Academy (Environmental, Social and Governance) both through e-learning training
using course platforms and through physically organized courses, Climate Fresk workshops
that continued in 2024
Ø
o
general knowledge of the Bank, BRD values, basic knowledge of compliance, credit
risks, and HR training, career management issues;
o
products and applications, related risks, behavioral skills, and the development of
specific commercial skills through an expert approach to learning.
Ø
managers), behavioural training programs (topics such as: customer relationship management,
communication, sales and negotiation techniques, stress management, conflict management,
teamwork, feedback - a tool for development and performance, how to make a team meeting
more attractive, hybrid management, simplification webinars etc.), teambuilding seminars for
developing the collaboration and cooperation skills within BRD teams, coaching sessions
program dedicated to all employees.
Ø
ü
employees;
ü
E
MPLOYEE ENGAGEMENT AND IMPACT ON THE EDUCATIONAL ENVIRONMENT
In 2024, the BRD continued to involve employees both in internal training activities such as Welcome
BRD, or other specific trainings through expert input from various departments, as well as in the
external environment through the Mindcraft Academy educational program built to engage in a
conversation with young people at universities about their future. In focus there were leaders and
students active in student organizations who had the opportunity to participate in interactive workshops,
mentoring sessions and master classes supported by professionals and leaders in various fields.
W
ORK
/
LIFE BALANCE
In order to ensure a balance between professional and personal life, the Human Resources Department
continued the projects:
Ø
the office being 2-4 days/week.
Ø
the balance between professional and personal life and wellbeing, with three pillars: monthly
webinars for all staff, work-shops for managers, Emotional HelpLine for employees and family
members. The duration of the program was 18 months starting from September 2023.
Specialized workshops dedicated to managers and HRBP aimed to reduce the causes of stress
by recognizing first symptoms such as exhaustion, anxiety and other emotional issues in their
colleagues, in order to effectively support team members
Ø
formalized under a series of agreements. The partnerships that we focus on come from areas
of sustainability, sport and health.
R
EMUNERATION
P
OLICY AND
P
RACTICES
The BRD Remuneration Policy and Practices respects:
Ø
Regulation 2/2022, CRD V, delegated Regulation (UE) 923/2021, MiFID II, Volker
Ø
Ø
The Remuneration Policy is approved by the Board of Directors of BRD upon recommendation of the
Remuneration Committee.
BRD
Ø
Is constantly adapted to the culture, growth and profitability objectives and to the long-term
strategy of the Bank, as well as its control framework;
Ø
Promotes a sound and efficient risks’ management; for the employees involved in the activity
of Financial Markets and investment advice, sound and prudent management of the risks related
to sustainability is also considered starting with March 2021;
Ø
Helps limit and control of possible operational risks without encouraging any risks that exceed
the Bank's risk tolerance level. The Bank encourages a prudent behavior (avoiding excessive
risks);
Ø
Recognises the individual and collective performance, while encouraging teamwork, ensuring
a fair and competitive remuneration subject to strictly complying with the powers and
performance; performance is assessed in a multiannual framework;
Ø
In evaluation of individual performance, financial and non-financial criteria are considered, as:
accumulated knowledge, personal development, contribution to the team's performance etc.
Ø
Based on the principle of equal treatment, i.e. equal remuneration for male staff members and
female staff members, for performing the same work or work of equal value.
The Bank ensures a correct and competitive remuneration, by strictly complying with competences and
performances, with 2 components correctly proportioned:
Ø
fixed component
Ø
variable component
Fixed remuneration - reflects the relevant professional experience and organisational responsibility,
according to the employee's job description as part of the employment terms. Fixed remuneration
represents a sufficiently high proportion of the total remuneration to allow the application of a fully
flexible policy on the components of variable remuneration, including the possibility of not paying any
of its components.
Variable remuneration - reflects a sustainable and risk-adjusted performance as well as the
performance that exceeds the necessary performance to fulfill the duties provided for in the employee's
job description as part of the employment terms.
Variable remuneration:
Ø
component distribution mechanisms do not guarantee the granting of sums over several years.
Thus, the variable remuneration is subject to a fair annual review process;
Ø
employment and can only be granted in the first year of employment and when the Bank has a
sound and solid capital base. BRD personnel is not overly dependent on bonuses;
Ø
Ø
force;
Ø
Ø
Ø
and do not reward failure or misconduct.
The Bank may decide to reduce or not even grant the variable remuneration if it cannot be supported
in accordance with the overall financial situation of the Bank, of the structure in which the activity is
carried out and the employee concerned.
The variable remuneration is considerably reduced if the Bank records a poor or negative financial
performance, taking into account both the current remuneration as well as the reductions in payments
related to the sums due, as previously determined, including malus or clawback agreements signed.
Up to 100% of the variable remuneration is subject to malus or clawback signed agreements.
For different types of jobs, it is possible to use different schemes for granting the variable remuneration.
There is a maximum limit defined for the variable component, which may not exceed 100% of the fixed
component of the total remuneration.
For sales staff, commercial objectives are set to take into account the rights and interests of the
customers, so that:
Ø
Ø
services over other products/ services such as products/ services which are more profitable for
the institution or for an employee, to the detriment of the consumer.
The special principles applicable to the categories of identified staff are:
Ø
Ø
including the deferred part thereof only if the variable remuneration can be supported in
accordance with the Bank's overall financial situation and if it can be justified in accordance
with the performance of the Bank, the structure in which the activity is carried out and the
individual concerned.
Ø
subject to the fulfillment of the minimum performance requirements.
Ø
component, is deferred for a period of at least 4 years if the variable remuneration is between
50 KEUR and 100 KEUR. If the variable remuneration exceeds 100 KEUR, 60% of the variable
remuneration component is deferred for a period of 4 years. For identified staff, at least 50% of
any variable remuneration shall consist of shares equivalent, which are subject to an
appropriate retention policy, designed to harmonise the incentives with the Bank's long-term
interests.
Ø
liability to counteract the risk alignment effects stipulated in the personnel remuneration
agreements are prohibited. One may insure the currency risk hedging using derivative
instruments.
Financial data for 2024, according to the disclosure requirements covered by Art. 450 (h), EU
Regulation 575/2013, will be published at a later date, on the Bank's website.
R
EMUNERATION OF THE MEMBERS OF THE
B
OARD OF
D
IRECTORS AND EXECUTIVE
C
OMMITTEE
a)
Remuneration is composed of monthly fix remuneration and variable annual remuneration granted as
performance bonus. For management expatriate staff there are granted some benefits according to
Société Générale’s policy, in order to facilitate their living with families in Romania.
Variable remuneration
rewards both financial and nonfinancial performance over the year, which is
consistent with the Bank’s strategy and aligned to shareholders’ interests, as well as the contribution of
Executive Officers towards the success of the Bank. Variable remuneration should reflect a sustainable
and risk adjusted performance as well as performance in excess of that required to fulfil the Executive
Officers' activities and responsibilities. Granting of variable remuneration is not guaranteed.
Executive Officers are not awarded long-term incentives (LTI).
The payment of variable remuneration is performed according to the below deferral and retention
scheme:
Allocation | Vesting | Date of payment* | ||
% | Type | Date | ||
40% on spot | 20% | cash | March N | March N |
20% | BRDTP | March N | March N+1 | |
60% deferred | 12% | cash | March N+1 | March N+1 |
12% | cash | March N+2 | March N+2 | |
12% | BRDTP | March N+3 | March N+4 | |
12% | BRDTP | March N+4 | March N+5 | |
12% | BRDTP | March N+5 | March N+6 | |
*)
N is the year of granting the variable remuneration
BRDTP
determined for a relevant reference period preceding the vesting date, based on the price of
BRD shares, listed on BVB.
b)
For 2023, the Ordinary General Shareholders Meeting approved an individual remuneration for the non-
independent non-executive directors amounting to EUR 1,800/ month (gross amount, RON equivalent)
and for the independent non-executive directors amounting to EUR 3,600/ month (gross amount, RON
equivalent) including 19.9% for the contributions’ transfer.
Also, the Ordinary General Shareholders Meeting on April 24, 2024 approved the general limit for the
directors’ and members’ of the Executive Committee remunerations, including additional
remunerations, for 2024, to amount to RON 22 million, gross amount (tax transfer compensation is
included).
4. G
ROUP ACTIVITY AND RESULTS
E
CONOMIC AND BANKING ENVIRONMENT IN
2024
In the fourth quarter of 2024, the euro area’s seasonally adjusted GDP edged up by just +0.1%, while
the EU as a whole saw a slightly stronger increase of +0.2% compared to the previous quarter, according
to Eurostat's flash estimate. This modest growth marks a slowdown from the +0.4% expansion both
regions experienced in the third quarter. On an annual basis, GDP in 2024 is estimated to have grown
by +0.7% in the euro area and +0.9% in the EU, based on seasonally and calendar-adjusted data.
In annual dynamic, GDP in Q4 2024 increased by +0.9% in the euro area and +1.1% in the EU,
mirroring the growth rates of the previous quarter and indicating a steady yet subdued economic
expansion across the region.
Domestically, subdued economic growth and widening twin deficits, fiscal and current account deficits,
are the most pressing issues threatening financial stability. Preliminary GDP data reveal weak economic
growth, with a +0.8% increase in Q4 2024 vs. Q4 2023, resulting in an annual growth of just +0.9%.
The primary driver is expected to be private consumption, bolstered by a +13.4% rise in average wages,
however, heavy reliance on imports diminishes its positive impact on domestic growth.
According to latest IMF estimates, Romania's GDP growth is expected to reach +3.3% in 2025 and to
continue its growth trajectory in 2026 to +3.7%.
The National Recovery and Resilience Plan (“NRRP”) remains a strong catalyst for Romanian
economy, however, the implementation of structural reforms and meeting the plan’s targets and
milestone is being delayed. As such, Romania risks missing out on substantial non-repayable EU funds,
having collected only EUR 9.5 billion out of the allocated EUR 28.5 billion, fulfilling just 14% of the
plan's targets and milestones. These delays could significantly affect the absorption of available
financial flows and stall critical structural reforms. The underutilization of these funds not only hampers
immediate economic recovery but also weakens the country's long-term resilience against potential new
adverse developments in the volatile geopolitical climate. Accelerating structural reforms, effectively
utilizing EU funds, and shifting toward a growth pattern with higher added value are imperative steps
to fortify the economy against future uncertainties.
Meanwhile, inflation has been on a downward trend during 2024, but with a slightly upward tendency
toward 2024 year end, with Euro area inflation printed at 2.4% in Dec’24 up from 1.7% in Sep’24.
On local front, inflation rose higher than expected over the last three months of 2024, up to 5.1% in
Dec’24 from 4.6% in Sep’24, highest level in EU, on renewed growth in food prices, inertia in services
inflation and base effects.
The inflation rate in Romania remains well above the upper bound of the NBR target range (2.5% ± 1
ppt). The estimate for 2025 end, according to NBR latest Report on inflation, stands at 3.8% (revised
upward from 3.5%) and 3.1% for 2026 end.
In terms of monetary policy, National Bank of Romania maintained the key rate at 7% during the first
half of 2024 and reduced it to 6.5% after two consecutive cuts of 25 bps each, in July and August 2024,
respectively. This decision was influenced by an improvement in the short-term inflation outlook
compared to prior forecasts, while also acknowledging the persistent high uncertainties surrounding
longer-term projections. At the last meeting held in February 2025, NBR maintained the key rate at
6.5%, given persistent inflationary risks and heightened uncertainties linked to economic activity
outlook, fiscal policy stance and external context.
In terms of banking activity, the annual growth rate of gross loans outstanding reached +10.9%* YoY
at December 2024, after a low dynamic at beginning of the year (avg. 6%* growth rate during Q1’24),
largely sustained by corporates (+12.0%* YoY). Loans to individuals reversed the poor performance
from the first quarter of 2024, with its annual dynamic reaching +9.4% YoY at December 2024 end,
from +3.2% YoY at March 2024 end, mainly on the impressive evolution for consumer loans, which
maintained a positive and increasing growth rate, reaching +17.5%* YoY at December 2024 (+7.6%*
YoY at March 2024). Housing segment presented a positive improving performance (+4.2%* YoY at
December 2024, from +0.5%* YoY at March 2024 and -0.2%* YoY at January 2024).
On deposits, the annual dynamic more than doubled as of December 2024 end compared to December
2023 end, reaching +14.3%* YoY (vs +6.0%* YoY at December 2023 end). Both individual and
corporate savings registered a double-digit annual growth. After a year of contraction, the foreign
exchange component returned to growth during the second half of the year, mostly driven by higher
inflows from corporate segment (+42.4%* YoY at December 2024 end), while the collection in local
currency kept stronger on individuals segment (+16.1%* YoY at December 2024 end).
On asset quality, the Romanian banking sector remains classified into EBA’s “low risk” bucket with a
level of NPL (non-performing loans) ratio <3% and NPL coverage ratio > 55%. As at December 2024
end, NPL ratio increased marginally to the level of 2.46% (vs. 2.37% at December 2023 end). NPL
coverage ratio stood high at 67% at September 2024 end (vs. 65% at December 2023 end).
The Romanian banking system remains well capitalized, as reflected by the solid capital adequacy ratio
of 23.7% as of December 2024 end (vs. 23.6% as of December 2023 end), higher than EU average
(20.1% at September 2024 end) and significantly above the overall capital requirements (17.3% as of
September 2024 end). This is helped by the high rate of incorporation of profit and potentially by the
new regulatory temporary treatments (implemented through art 468 and art 500a of CRR3 in July 2024.
On the medium term, a potential negative factor on the capital position could be the implementation of
the Basel IV directive (published as of May 2024 end), which may lead to an increase of capital
requirements for Romanian banks of 3.6% of risk-weighted assets (“RWAs”) on average by the time it
is fully implemented in 2028 (as per NBR Financial Stability Report, June 2024).
The Romanian banking system also boasts a strong liquidity position, with a Liquidity Coverage Ratio
of 254.9% as of December 2024 end (vs. 280.6% at December 2023 end), remaining well above the
minimum regulatory requirement (100%) and the EU average (161.4% at September 2024 end).
* variation at constant exchange rate
Source: BRD Research , IMF, NBR
C
OMMERCIAL ACTIVITY
RON bln
Dec-22
Dec-23
Dec-24
vs. Dec-23
Retail
23.4
24.7
27.9
12.8%
22.5
23.5
26.3
12.0%
0.9
1.3
1.6
25.8%
Non-retail
12.4
15.3
19.8
29.4%
4.8
5.7
7.2
26.4%
7.6
9.6
12.6
31.1%
Total loans and advances to customers*
35.8
40.0
47.7
19.1%
Finance lease receivables
1.4
1.7
2.0
19.6%
Total loans and advances to customers, including leasing
37.2
41.7
49.7
19.1%
BRD ensures the availability of its products and services through a mix of on-site and remote presence.
As at December 31, 2024, the Bank’s network reached 388 branches (vs. 423 as of December 31, 2023)
and an increasing number of 24/7 self service areas, covering almost 60% of its network (225 vs. 194
as of December 31, 2023).
Clients’ digital engagement continues to rise, as reflected by the growing number of YouBRD mobile
application users to over 1.7 million (+20% YoY as of December 2024 end), and higher number of
transactions done through the application (+28% YoY).
BRD continues to advance on its digital roadmap by enhancing its digital offer and capabilities. By the
end of 2024, BRD introduced a new security verification feature that ensures accurate alignment
between the beneficiary’s name and IBAN, minimizing fraud risks and strengthening customer security.
Additionally, BRD launched RoPay in Q4 2024 – an instant mobile proximity and secured payment
service via QR code, available 24/7/365 days p.a. This service, simple and easy to use is free of charge
and may be used as a national alternative to cash and other existing payment methods, BRD being
among the first banks in Romania to roll-out this service.
In June 2024, BRD introduced a cashback loyalty program available in YouBRD, which enjoys a higher
penetration rate. As of 2024 end, ~650k clients were enrolled in the program and RON 1.8 million were
granted in cashback to BRD customers.
BRD held a market share of app 10% of total assets at December 31, 2024, according to its internal
computation.
The structure of the customers’ net loans at Group level evolved as follows:
* Loans and advances to customers at Dec-22 and Dec-23 are restated (i.e., please consult the financial statements for further details)
Net loans outstanding, including leasing financing, reached RON 49.7 billion, marking a +19.1% YoY
increase compared to December 2023 end, fueled by robust lending activity across both corporate and
private individuals segments. Lending to corporates remained the key growth driver, with an yearly
advance of +29.4% YoY, while the momentum on retail segment is further nurtured with +12.8% YoY
increase at December 2024 end.
Individuals’ loan production advanced to new record levels, reaching close to RON 12 billion in 2024,
up by +54% YoY vs 2023, building on a good performance for both consumer and housing loans.
Consumer loans production totaled RON 7.3 billion, up +49% YoY, while the financing for customers
housing acquisition projects increased by +63% YoY, to RON 4.4 billion. This strong performance
demonstrates BRD's strong focus on customers, solidifying its role as the go-to financing partner. At
end of December 2024, individuals’ loans outstanding increased by +12.0% YoY. Additionally, net
loans outstanding of small businesses also showed remarkable growth, +25.8% YoY, fueled by
improved lending processes and strong engagement in government programs, reinforcing BRD’s role
as a key enabler of growth for both individuals and businesses.
Corporate financing maintained a strong growth pace, with net loans outstanding increasing by +29.4%
YoY as of December 2024 end, built on solid contribution of both large corporates and SMEs. In 2024,
BRD continued to support local entrepreneurs by participating in the various financing programs for
SMEs, covering sectors, like agriculture, construction, manufacturing. A main driver for the financing
activity of SMEs was the IMM Plus governmental program, BRD granting more than 2,200 loans
totaling RON 3.56 billion during 2024.
Leasing activity continued its strong growth trajectory, with net outstanding of leasing financing up by
+19.6% YoY as of December 2024, to surpass RON 2 bn, reconfirming financial leasing as an
accessible and efficient financing solution, adding to the diversified product portfolio offered by the
Bank.
BRD has further strengthened its commitment to support sustainability transitions also by entering into
partnerships with international financial institutions (International Finance Corporation, IFC and
RON bln
Dec-22
Dec-23
Dec-24
vs. Dec-23
Retail
37.1
40.8
44.3
8.7%
31.0
34.1
37.4
9.8%
6.1
6.7
6.9
3.1%
Non-retail
19.6
21.6
23.6
9.1%
8.2
9.4
10.6
13.4%
11.4
12.3
13.0
5.8%
Total due to customers
56.7 62.4 67.9
8.9%
European Investment Fund, EIF) aimed at stimulating production, while diversifying the bank's offer
with blue and gender financing solutions. During 2024, BRD sustainable financing reached RON 1.8
billion, emphasizing support for photovoltaic renewable energy, green buildings, e-mobility, water
sector, leading the cumulative production over the last 3 years, to almost EUR 1.3 billion, well above
the target initially set for end of 2025. To further promote and support green investments, BRD
established a new partnership with European Investment Fund (EIF) in August 2024 to implement a
sustainability financial instrument with the purpose to provide support for SMEs and business processes
in adapting to climate change and facilitating the green transition. Additionally, the women
entrepreneurship remains one of the Bank’s areas of interest in 2024 thanks to the collaboration with
the Ministry of Economy, Entrepreneurship and Tourism in the implementation of the "Women
Entrepreneur" program 2024 edition, and the partnership with the International Finance Corporation
(SRT transaction concluded in Q1 2024).
The customers’
deposits
The deposit base continued to grow steadily, +8.9% YoY as of December 2024 end. Retail deposits, a
key stable funding source, increased by +8.7% YoY, still driven by growing inflows of individuals’ term
deposits (+19% YoY). Corporate deposits registered similar growth, +9.1% YoY, mainly supported by
higher net inflows from SMEs (+13.4% YoY).
For the evolution of the main components of the net banking income please refer to “Financial results”
section.
S
UBSIDIARIES
’
BRD
S
OGELEASE
IFN
SA
As of December 31, 2024, net outstanding of leasing financing granted by BRD Sogelease increased
by +19.6% year-on-year to RON 2,023 million. New leasing production increased to RON 1,282 million
in 2024, +3% YoY, surpassing significant milestones in the company’s history in terms of the number
of contracts signed, total financed value, year-end balance, as well as the number of vehicle
registrations. The medium and large clients segment played a key role in this growth, and the financed
products were diverse, covering all their needs. The recent results of BRD Sogelease reconfirm financial
leasing as an accessible and efficient financing solution, an integral part of the diversified product
portfolio offered by BRD Group.
BRD
F
INANCE
IFN
SA
As of December 31, 2023 BRD Finance SA was in a run off process and entered into a process for
selling its entire loan portfolio. As at December 31, 2024 BRD Finance SA sold its entire loan portfolio,
previously reclassified into held for sale, to a third party. BRD Finance SA financial statements have
no longer been prepared as a going concern basis. The entity has been included in the consolidated
financial statements of the Group on this basis.
BRD
A
SSET
M
ANAGEMENT
SA
BRD Asset Management, solidified its position as one of the most prominent players in the Romanian
UCITS market in 2024. The company achieved a significant increase in market share, rising to 23.14%
at the end of 2024 from 19.46% a year earlier, becoming the largest UCITS company in Romania. As
of December 31, 2024, BRD Asset Management had 6.15 billion RON in assets under management
(AUM), marking a remarkable 55% year-over-year growth. BRD Asset Management’s product
portfolio comprises 12 diverse investment funds that provide solutions for over 157,000 clients,
including both individual investors and companies. BRD Asset Management wide array of products
enables clients to access a variety of asset classes and strategies, ranging from conservative fixed-
income funds to dynamic equity funds or target date funds, ensuring suitable options regardless of
objectives, risk profile, or financial aspirations.
* market share computation based on total open-end funds assets under management
F
INANCIAL POSITION ANALYSIS
The below financial position analysis is done based on the separate and consolidated financial
statements prepared according to IFRS (“International Financial Reporting Standards”), for the period
ended December 31, 2024 and comparable historical periods.
F
INANCIAL POSITION
–
Total assets at December 31, 2024 increased by 5.5% for the Group and 5.6% for the Bank versus 2023
end.
The asset structure is presented below:
T
HE GROUP
Assets
(RONm)
Dec-22
Dec-23
Dec-24
% total
vs. Dec-23
Cash and cash equivalents
9,161 12,462 8,658
9.8%
-30.5%
Due from banks
5,317
5,136
6,313
7.1%
22.9%
Loans and advances to customers
35,768
40,047
47,705
53.9%
19.1%
Finance lease receivables
1,407
1,692
2,023
2.3%
19.6%
Other financial instruments
19,635
21,872
21,198
24.0%
-3.1%
Tangible and intangible assets
1,537
1,645
1,781
2.0%
8.3%
Other assets
1,016
996
801
0.9%
-19.6%
Total assets
73,842
83,849
88,480
100.0%
5.5%
Assets
(RONm)
Dec-22
Dec-23
Dec-24
% total
vs. Dec-23
Cash and cash equivalents
9,161 12,462 8,658
10.1%
-30.5%
Due from banks
5,301
5,120
6,313
7.3%
23.3%
Loans and advances to customers
35,022
39,635
47,352
55.1%
19.5%
Other financial instruments
19,639
21,886
21,178
24.6%
-3.2%
Tangible and intangible assets
1,518
1,620
1,768
2.1%
9.2%
Other assets
882
658
675
0.8%
2.6%
Total assets
71,523
81,381
85,945
100.0%
5.6%
T
HE BANK
L
OANS AND ADVANCES TO CUSTOMERS
The net loans’ outstanding amount to customers registered a strong performance year-on-year (Group:
+19.1% YoY at December 2024 end, o/w leasing +19.6%; Bank: +19.5% YoY) given a strong
contribution from both retail and corporate segments, as elaborated above in Chapter 3.
C
ASH AND CASH EQUIVALENTS AND
D
UE FROM BANKS
Cash and cash equivalents and due from banks decreased by -14.8% YoY for the Bank and -14.9%
YoY for the Group, versus December 2023 end, following the decrease in excess liquidity placed
interbank. These items accounted for approximately 17.4% of the Bank's total assets and 16.9% for the
Group at the end of December 2024.
The minimum compulsory reserve held with the National Bank of Romania accounted for 34.1% of this
aggregate at December 31, 2024 (26.1% at December 2023 end) at Group level. It amounted to RON
5,101 million, up by +11.2 % vs December 31, 2023, mainly linked to increasing customers’ deposits
as detailed above. The level of RON and FX minimum reserve requirements for liabilities with residual
maturity of less than 2 years are at 8% and 5% respectively, unchanged from May 2015 for RON and
from November 2020 for FX.
O
THER FINANCIAL INSTRUMENTS
Other financial instruments include financial assets at fair value through other comprehensive income,
debt securities at amortised cost, financial assets at fair value through profit and loss, derivatives and
other financial instruments held for trading, investments in associates and joint ventures.
As of December 2024, these items totalled RON 21.2 billion for both the Group and the Bank,
accounting for 24.0% of Group assets and 24.6% of Bank assets. This represents a decrease of approx.
3.2% compared to the end of December 2023 for both the Group and the Bank, variation explained by
the decrease in debt instruments measured at fair value through other comprehensive.
In May 2024 the Business Transfer Agreement for the sale of investment in associate BRD Societate
de Administrare a Fondurilor de Pensii Private SA for the entire perimeter of Pillar 2 and 3 to a third
party was signed. Following this approval, BRD–Groupe Société Générale decided to reclassify the
investment from Investments in associates and joint ventures into Assets held for sale.
T
ANGIBLE AND INTANGIBLE ASSETS
The tangible and intangible assets increased by 8.3% compared to December 2023 end for the Group
and by 9.2% for the Bank and accounted for 2.0% of the total assets for the Group and 2.1% for the
Bank, with land and buildings representing the largest part of the item.
The total value of investments during 2024 was almost RON 343 million for the Group and RON 340
million for the Bank, compared to RON 326 million for the Group and RON 324 million for the Bank,
in 2023. There is no capitalized research and development expenditure.
F
INANCIAL POSITION
–
L
IABILITIES
The comparative statement of liabilities is as follows:
T
HE GROUP
Liabilities and shareholders equity
(RONm)
Dec-22
Dec-23
Dec-24
% total
vs. Dec-23
Due to credit institutions
7,501
9,396
9,278
10.5%
-1.3%
Due to customers
56,661
62,406
67,935
76.8%
8.9%
Other liabilities
2,720
3,185
1,815
2.1%
-43.0%
Total equity
6,960
8,862
9,451
10.7%
6.7%
Total liabilities and equity
73,842
83,849
88,480
100.0%
5.5%
Liabilities and shareholders equity
(RONm)
Dec-22
Dec-23
Dec-24
% total
vs. Dec-23
Due to credit institutions
5,443
7,226
6,957
8.1%
-3.7%
Due to customers
56,916
62,642
68,215
79.4%
8.9%
Other liabilities
2,587
3,048
1,749
2.0%
-42.6%
Total equity
6,577
8,465
9,024
10.5%
6.6%
Total liabilities and equity
71,523
81,381
85,945
100.0%
5.6%
Equity
Dec-22
Dec-23
Dec-24
vs. Dec-23
Share capital
2,516
2,516
2,516
0.0%
Accumulated other comprehensive income/(loss)
(2,054) (1,157) (1,256)
8.5%
Retained earnings and capital reserves
6,439
7,436
8,142
9.5%
Non-controlling interest
59
68
50
-26.4%
Total equity
6,960
8,862
9,451
6.7%
T
HE BANK
A
MOUNTS OWED TO CUSTOMERS
The Group, as well as the Bank, further consolidated and diversified its already solid savings base. At
December 2024 end, amounts owed to customers increased by almost 9% both at Group and Bank levels
and accounted for 76.8% of the total liabilities and shareholders’ equity at Group level and for 79.4%
at Bank level. The increase primarily resulted from higher inflows in term deposits from individual
customers and notable advance in deposits from SME customers.
A
MOUNTS OWED TO CREDIT INSTITUTIONS
Amounts owed to credit institutions represent borrowings from the parent and International Financial
Institutions and interbank deposits and stood at 11.7% of the total liabilities at Group level and 9% at
Bank level as at December 31, 2024.
BRD Group’s borrowings from Société Générale totalled RON 7.3 billion (9.3% of liabilities) at
December 2024 end. These include 4 senior non-preferred loans in amount of EUR 850 million, namely:
EUR 450 million drawn in December 2023 (roll-over of a 2021 SNP), with an initial term of 3 years
and a call option at 2 years; EUR 100 million with initial term at 7 years and a call option at 6 years and
EUR 150 million with an initial term of 8 years and a call option at 7 years, both drawn in December
2023, EUR 150 million drawn in June 2024 with an initial term of 6 years and a call option at 5 years
(roll-over of a 2022 SNP), and 2 subordinated loans in amount of EUR 250 million (EUR 100 million
drawn in December 2021, respectively EUR 150 million in June 2022, both with an initial term of 10
years and a call option at 5 years).
S
HAREHOLDERS
’
Shareholders’ equity increased by 6.7% YoY for the Group and by 6.6% YoY for the Bank compared
to December 31, 2023, primarily attributed to higher retained earnings.
The structure of the shareholders’ equity evolved as follows:
T
HE GROUP
T
HE BANK
Equity
Dec-22
Dec-23
Dec-24
vs. Dec-23
Share capital
2,516
2,516
2,516
0.0%
Accumulated other comprehensive income/(loss)
(2,054)
(1,157)
(1,256)
8.5%
Retained earnings and capital reserves
6,116
7,107
7,764
9.3%
Total equity
6,577
8,465
9,024
6.6%
RONm
2022
2023
2024
24/'23
Net banking income 3,459 3,834 4,032 5.2%
- net interest income 2,370 2,725 2,912 6.8%
- fees and commissions, net 754 750 809 7.8%
- other banking income 334 359 312 -13.2%
Operating expenses
6.8%
- personnel expenses
4.9%
- non-personnel expenses
-5.1%
- tax on turnover
n.a.
Gross operating profit 1,715
1,939
2,009
3.6%
Net
impairment
gain/(loss)
on
financial instruments
n.a.
Profit before income tax 1,620 1,996 1,863 -6.7%
Profit for the period 1,337 1,656 1,524 -8.0%
Profit attributable to equity owners of
the parent
L
IQUIDITY POSITION
Both the Bank and the Group maintained a balanced structure of resources and placements and a solid
liquidity level over the analysed period.
The net loans to deposits ratio reached 69.4% at December 31, 2024 for the Bank (from 63.3% at
December 31, 2023) and 73.2 % for the Group, including financial leasing receivables (from 66.9% at
December 31, 2023).
2024
The comparative income statement of the Group for the period 2022 - 2024 is presented below:
The comparative income statement of the Bank for the period 2022 - 2024 is presented below:
RONm
2022
2023
2024
24/'23
Variation
Net banking income 3,289 3,723 3,895 4.6%
- net interest income 2,239 2,592 2,799 8.0% 207
- fees and commissions, net 719 719 772 7.4% 53
- other banking income 330 412 324 -21.3% (88)
Operating expenses
8.2%
- personnel expenses
5.5%
- non-personnel expenses
-3.3%
- tax on turnover
n.a.
Operating profit
1,648
1,908
1,930
1.2%
Netimpairmentgain/(loss)onfinancial
instruments
n.a.
Profit before income tax 1,555 1,956 1,802 -7.8% (153)
Profit for the period 1,286 1,634 1,475 -9.8%
BRD Group full year revenues reached RON 4,032 million in 2024 compared to RON 3,834 million in
2023, higher by +5.2
YoY.
Net interest income, the main pillar of growth, marked an advance of +6.8% YoY during 2024, driven
by a robust commercial activity on both retail and corporate segments, tempered by increasing funding
costs with customers deposits, yet on a moderated pace following RON market rates trend. Net fees and
commissions were up +7.8% YoY, mainly driven by intensified client servicing and lending activity.
More specific, the activity from transfers, package of services and cards activity had a significant
positive contribution to the yearly dynamic.
Other banking income (-13.2% YoY) was primarily affected by a one-off limited provision booked in
Q1 2024, and the sale of BRD Finance loan portfolio.
Operating expenses were up by +6.8% YoY in 2024, mainly driven by the new tax on turnover. Without
the tax, costs were kept stable, despite still biting inflation. Amid enduring competition for talent, staff
costs increased by +4.9% YoY compared to 2023, driven by higher fixed salaries and other
compensation package adjustments under the new labour agreement entered into force in June 2024.
The evolution of non-staff expenses (-2.7%, excl. contribution to the Deposit Guarantee Fund and
Resolution Fund and the new tax on turnover) reflects mainly the combined effect of increased IT
expenditures amid continued effort to digitize banking activity, gains from sale of real estate and savings
in administrative costs, also linked to the closure of BRD Finance activity. For 2024, the cumulated
contribution to Deposit Guarantee Fund and Resolution Fund was reduced to RON 43.5 million, from
RON 68.1 million in 2023. On the reverse, the new 2% tax on turnover, amounted to RON 128.7 million
of costs’ increase.
BRD Group gross operating income reached RON 2,009 million in 2024 (+3.6% YoY and +10.2%
YoY, excluding the tax on turnover) and cost to income ratio increased solely as a result of the new
revenue tax (50.2% in 2024 vs 49.4% in 2023). Excluding the impact of the tax, C/I improved by 240
bps, to 47.0% in 2024 from 49.4% in 2023.
The loan book remained healthy during the year, with NPL ratio* around record low level, reaching
2.1% at December 2024 end (slight increase from the historical low of 1.9% at 2023 end, but still below
the banking system average, of 2.46% as of 2024 end), while NPL coverage stands at a comfortable
level (77.8% at December 2024 end vs 76.0% at 2023 end). Net cost of risk registered RON 145m net
provision allocation during 2024, compared to RON 57m net provision release in 2023, reflecting a
return to normalized levels.
BRD Group net result amounted to RON 1,524 million (vs RON 1,656 million in 2023), while ROE
reached 16.6% in 2024. ROA reached 1.8% in 2024 (compared to 2.1% in 2023).
BRD standalone capital adequacy ratio is comfortable, close to 23% as of December 2024 end,
excluding the impact of the new regulatory temporary treatments (implemented through art 468 and art
500a of CRR3 in July 2024). Capital adequacy ratio including the impact of the new regulatory
temporary treatments stands at 27% as of December 2024 end.
The Bank recorded similar trends, with a net result of RON 1,475 million versus RON 1,634 million in
2023.
Neither Bank’s, nor the Group’s revenues depend on a single or group of connected customers; hence
there is no risk that the loss of a customer might significantly affect the income level.
Subsequent events identified after the reporting date.
There were no subsequent events to be reported.
AWARDS
2024
ü
The Banker: Bank of the Year 2024
ü
Global Finance: Best Trade Finance Provider
ü
ü
Piata Financiara: e-Growth award, for the development of online banking activities
ü
The Diplomat:” Best Sustainable Finance Provider”
ü
FinancialIntelligence.ro: Award for the contribution to securing the transition to the green
economy
ü
Bursa: Excellence award for the involvement in CSR and sustainability
ü
Business Magazin: Romania’s most responsible companies / for the support granted to
”Between neighbours” project
ü
Piata Financiara: Bank of the Year in sustainability
ü
ü
awarded by ARIR
5. R
ISK MANAGEMENT
Risk management within BRD is based on an integrated concept that takes into account the statutory
and regulatory norms as defined and required by the National Bank of Romania and European
Supervisory Bodies, the risk management standards of Société Générale, together with the best
practices accepted by the banking industry.
R
ISK MANAGEMENT OBJECTIVES AND
R
ISK
A
PPETITE SETTING
Risks are managed within a continuous process of identification, assessment, monitoring, reporting and
control, considering risk limits, approval authorities, segregation of duties and other risk mitigation
techniques.
The main objectives of the Bank’s risk management strategy are:
Ø
To support the business development by ensuring that business objectives are pursued in a risk-
controlled manner, with due consideration for the stated risk appetite
Ø
To ensure the Bank’s sustainability as a going concern, through the implementation of an
efficient system for risks’ analysis, measurement, monitoring, reporting and mitigation
Ø
To encourage risks’ diversification with the aim of keeping a balanced risk-return profile for
all activities of BRD group entities
Ø
To maintain adequate capital levels as per regulatory requirements and internal assessment
Ø
To promote a Bank-wide strong risk awareness and risk management culture.
In order to identify all the risks to which BRD is exposed and which are inherent to its activity, a
comprehensive risk assessment exercise is performed on an annual basis. A new Risk Taxonomy was
implemented since December 2024. Therefore, the Bank’s risk management strategy focuses on the
following categories of risks identified as significant, any of which could adversely affect its business,
results of operations and financial situation:
Ø
Ø
Ø
Ø
Ø
Ø
Ø
Ø
Ø
Excessive usage of leverage effect risk
ESG risks have been identified as factors that may aggravate existing risk categories.
Based on the results of the risk assessment exercise and with due consideration for its strategic
objectives, the Bank defines the risk appetite framework and the risk appetite statement.
The risk appetite represents the aggregate level and types of risk that BRD is willing to assume within
its risk capacity, in line with its business model, to achieve its strategic objectives. The risk appetite
statement sets the Bank’s approach towards taking on and managing risks and is structured along two
dimensions: quantitative and respectively qualitative. At aggregate level, the risk appetite is defined by
reference to the main strategic dimensions -
Profitability, Capital Adequacy, Creditworthiness,
Liquidity and Leverage
risk, capital and performance targets, which allows the Bank to:
Ø
Set capital adequacy goals with respect to risk, considering strategic focus and business plans
Ø
Assess risk-bearing capacity with regard to internal and external (regulatory) requirements
Ø
Apply stress testing to assess the impact on the capital demand, capital base and liquidity
position
The aggregate risk appetite is further cascaded down to material risk categories and where appropriate,
to business segments. The qualitative statements are defined to complement the quantitative part of the
risk appetite, setting the overall tone for BRD’s approach to risk taking.
Risk Appetite indicators and corresponding quantitative measures are defined by considering the risk
profile, size and complexity of activities performed by the Bank. Their evolution is regularly monitored
over the year in order to detect any events that may result in unfavorable developments on the risk
profile.
R
ISK MANAGEMENT GOVERNANCE
The Group’s risk management governance is based on the following dimensions:
Ø
Ø
Strong involvement of the Bank’s management body in the risk management system and
promotion of risk culture, throughout the entire organizational structure, from the Board of
Directors down to operational teams
Ø
Clearly defined internal rules and procedures
Ø
Communication of information regarding risk management across the organization in a timely,
accurate, comprehensible and meaningful manner
Ø
Continuous supervision by an independent risk function to monitor risks and to enforce rules
and procedures
Risk governance relies on the three lines of defense model, which ensures the identification of the
functions within the Bank responsible to address and manage the risks, while reinforcing segregation
of duties between these functions.
The
first line
primarily responsible for their management on a day-to-day basis, having appropriate processes and
controls in place that aim to ensure that the risks are identified, assessed, measured, monitored,
managed, reported and kept within the risk appetite limits and that the business activities are in
compliance with external and internal requirements.
The
second line
These functions are independent from the first line of defence entities that they monitor and control.
Risk Management Structures perform the role of the centralized risk management function, by
delivering the Bank’s wide holistic view on all risks, ensuring that the risk strategy is complied with.
The
third line
review and objective assurance on the quality and effectiveness of the Bank’s internal control system,
the first and second lines of defense and the risk governance framework. The Internal Audit function
reports to and operates under the mandate of the Board of Directors.
Risk management within BRD is governed by the Management Body, which is and assisted by
specialized committees in accomplishing its risk management and control responsibilities.
Board of Directors
The Board of Directors approves the risk and business strategy of BRD, sets the risk appetite and
tolerance levels and ensures that the Executive Committee properly transposes them at operational level.
Audit Committee
The Audit Committee plays a crucial role in the assessment of the quality of the internal control. It is
responsible for examining the internal framework for risk monitoring to ensure its consistency and
compliance with procedures, laws and regulations in force.
Risk Management Committee
The Risk Management Committee advises the Board of Directors on risk management in order to
develop, implement and update a solid internal governance framework, in accordance with local
regulations and policies of the Société Générale Group.
Nomination Committee
The Nomination Committee advises the Board of Directors regarding the selection, monitoring and
succession of the members of the management body and the evaluation of the adequacy of key
function holders.
Remuneration Committee
The Remuneration Committee advises the Board of Directors in elaborating and supervising the
implementation of the Bank's remuneration policy.
Executive Committee
The Board of Directors delegates the day to day management of BRD to the Executive Committee. The
Executive Committee is responsible for the implementation of the strategies approved by the Board of
Directors and ensures that a proper organization and informational flows are in place.
Main specialized committees assisting the Executive Committee
The
liabilities structure, of liquidity and funding sources, structural risks (interest rate risk and foreign
exchange risk in banking book) and of the Bank’s capital base.
The
Crisis Committee
resources and organization to face such situations.
The
new products, new activities or outsourced activities or their significant changes, are correctly
identified, analyzed and assessed.
The Internal Control Committee
control activities are carried out from an organizational / functional perspective, the results obtained,
and the deficiencies found in internal control activities.
The Retail Risk Committee
has as main objective the analysis of the measures proposed by relevant
structures in order to improve the performance of retail lending activity and the monitoring of the
associated risk indicators.
The Non-Retail Risk Committee
’s
mission is to analyze the corporate lending activity to better manage
the associated risk and improve the performance and efficiency of this activity.
The Projects’ Review Committee
The Governance and Data Quality Committee’s
mission is to analyze the data governance activity,
mainly concerning implementation of the data governance strategy and data quality.
The Price Committee’s
measures regarding the pricing policy and strategy (commissions, interest) of the Bank's products,
taking into account budgetary objectives, competitive environment, the Bank's commercial strategy and
market evolution
The Compliance Committee
risk management, including the presentation of the deficiencies identified during compliance control
activity.
The Sustainability - ESG Committee’s
sustainability, climate and environmental strategies and policies in line with the Bank’s objectives.
M
AIN RISK FACTORS
Challenging macroeconomic context
Banking business is highly sensitive to changes in financial markets and economic conditions.
Nowadays, the macroeconomic environment is a very challenging one, on the background of mutually
interacting factors such as: geopolitical tensions and the heightening of armed conflicts amid an
important election year internationally, the evolution of inflation and of financing costs, a significant
delay in the implementation of PNRR with the potential to affect the absorption of available financial
flows, wider deficits (fiscal and current account), etc. All these elements, in conjunction with the already
existing vulnerabilities in the financial system, led to a readjustment of growth forecasts, influencing in
the same time the consumers and investors’ confidence.
Although the materialisation of credit risk has been contained so far, concerns still linger, the evolution
of credit risk in the period ahead being tightly linked to the persistence of an unfavorable
macroeconomic environment.
Climate related and environmental risks
Environmental, social and governance (ESG) risks are defined as risks stemming from the current or
prospective impacts of ESG factors on counterparties, invested assets or own operations. ESG risks are
seen as aggravating factors to the traditional categories of risks and are likely to impact the banks’
activities in the short-, medium- and long-term.
The impact of climate change and the efforts undertaken at European level for the transition to a green
economy have a growing influence on the financial system. Addressing risks stemming from climate
change and environmental degradation may be one of the main challenges for banks in the years to
come, as they are envisaged to play an increasingly active role in supporting the transition to a more
sustainable economy.
Unpredictability and uncertainty of legal framework
The uncertainty and lack of predictability of legal changes could have an adverse effect on financial
institutions by putting pressure on liquidity, solvency and profitability.
Financial institutions are subject to a more and more extensive supervisory and regulatory framework
(for instance, various EBA guidelines, CRD VI, CRR 3, etc), while adaptation to such changes requires
significant resources that could affect the banks’ performance. Additionally, the high impact of the
implementation of the sustainable finance regulatory framework and the increase in non-financial
reporting obligations, in a relatively short timeframe, sets an additional challenge for banking
institutions.
Highly competitive environment, undergoing digital transformation
The Bank operates in an environment subject to intense competition both from banking and emerging
non-banking actors (FinTechs), changing business models, translating in increasing risk to market
shares and margins. Competition refers to digital transformation, the speed of answering to the
customers’ requests, evolving products and services, innovation, reputation, price, technology
infrastructure and data management. Along with digital transformation, it is imperative for credit
institutions to also manage the associated risks may be exposed to (e.g. cyber risk, data leakage risk,
etc.). Thus, they have to constantly intensify their efforts to address cybersecurity risks, especially in
the current context of heightened geopolitical tensions and the rapid evolution of artificial intelligence.
In addition, certain sectors of the financial services industry have become more concentrated,
considering the mergers and acquisitions of institutions involved in a broad range of financial services.
Such changes could result in the Group’s remaining competitors benefiting from greater capital
resources or other advantages, such as the ability to offer a broader range of products and services,
which may enhance their competitive position.
C
REDIT
R
ISK
M
ANAGEMENT
Credit risk management is regulated through a set of internal documents, which transpose local and EU
regulations, SG Group policy and risk management best practices in the internal framework.
Some of the main principles employed in managing credit risk are presented below:
Ø
client credit due diligence maintaining prudent underwriting standards
Ø
well formalized processes for credit approval, including a strictly defined mechanism of
delegated credit competencies and approval limits; credit approval authorities are assigned to
individuals according to their qualifications, experience and training
Ø
use of well-defined origination criteria by type of customer, including thorough knowledge of
borrowers as well as the purpose and structure of the credit, in-depth analysis of sources of
repayment and risk mitigation through requests for collaterals or guarantees
Ø
use of an internal rating system for non-retail counterparties
Ø
diversified credit portfolio, specific concentrations being assessed and monitored through a set
of limits on single-name, economic sectors, geographical/regions, transactions/products, credit
risk mitigation techniques (defined in line with the Bank’s risk appetite)
Ø
segregation of duties between front office and back-office activities
Ø
review and approval by senior management of new products and significant changes to
activities/ processes
Ø
ongoing follow-up of credit exposures, at single and group level
Ø
identification and management of non-performing loans and assessment of workout activity
using objective indicators
Ø
regular monitoring and reporting to senior management on the quality of credit portfolios
Ø
regular monitoring of credit risk profile compared with the risk appetite approved by the Board
of Directors
Ø
regular independent review of lending activities by the Bank’s Internal Audit function
BRD’s exposure to credit risk is derived from its commercial, treasury and trading activities, the
commercial activities representing the core business of the Bank.
Exposures on sovereign risk are concentrated on the Romanian State and consist of the portfolio of
treasury bills and bonds, placements with the Central Bank for liquidity purposes (including the
minimum reserve requirements) and the guarantees received from the Romanian State for governmental
programs.
Undertaking of credit risk is part of the Group’s risk management strategy based on its risk appetite.
Société Générale’s credit policy is based on the principle that approval of any credit risk undertaking
must be based on sound knowledge of the client and the client’s business, an understanding of the
purpose and structure of the transaction and the sources of repayment of the debt. Credit decisions must
also ensure that the structure of the transaction will minimize the risk of loss in the event the
counterparty default.
C
REDIT RISK MITIGATION TECHNIQUES
BRD has a cash flow based lending approach, meaning the Bank expects debt to be serviced primarily
through the future cash flow/income generated by the debtor. Collateralization, in the form of collateral
(funded credit protection) or guarantee (unfunded credit protection), is accepted merely to mitigate
credit risk and it cannot serve as a substitute for the borrower’s ability to meet obligations.
The Bank accepts the following main types of securities:
Ø
Financial collateral (cash, deposits, Romanian government bonds, shares, units of collective
investment funds)
Ø
Non-financial collateral (real estate, movable assets, receivables, intangibles)
Ø
Personal Guarantees (fidejussion, letters of guarantee, letters of comfort, endorsements)
Real estate represents the most frequent type of accepted collaterals. Nevertheless, the collateral
structure is further diversified subject to the type of financing (e.g. for working capital financing,
receivables and inventories are accepted as customary collateral).
Real estate collaterals
The market value of real estate collaterals is estimated by certified internal or external evaluators. The
valuation is performed in accordance with the International Valuation Standards and ANEVAR
Standards and Recommendations. To be noted that real estate valuations have to be verified by the
competent units, independently from the credit approval process.
The Bank uses the following valuation methods for real estate: market approach and income approach.
Revaluation is performed yearly in case of commercial/ industrial/ agricultural real-estate and plots of
land and at least once every 3 years, for residential real estate. Higher frequency reevaluation is
performed when the real estate market displays a significant negative evolution. BRD monitors the risks
associated with the valuation activity via implemented internal controls.
Guarantees
The credit risk mitigation effect of guarantees is closely linked to the guarantor’s creditworthiness and
the secured amount must be reasonably proportionate to the economic performance capabilities of the
protection provider.
The main guarantor for BRD’s clients is the Romanian State, which intervenes to sustain credit activity
by national wide guarantee programs implemented through the intermediation of Guarantee Funds
(Fondul National de Garantare a Creditelor pentru Intreprinderile Mici si Mijlocii, FNGCIMM or
Fondul de Garantare a Creditului Rural, FGCR) or Eximbank, main exposure of this type being
generated by Prima / Noua Casa program. Another category of guarantors is represented by commercial
banks (local or foreign), issuing LGs in favor of BRD clients. BRD’s indirect exposures on each
guarantor are assessed using the same principles as for direct credit exposures of BRD.
Residual risk management
The Bank systematically manages the residual risk (that could materialize in situations when credit risk
mitigation techniques are less efficient than expected) through the collateral policy (prudent legal
security and selection criteria specific to each type of security), regular revaluation of the collaterals,
regular monitoring through specific risk indicators and capital requirement as residual risk is embedded
in the methodologies developed as part of ICAAP Policy.
Detailed information on credit risk is found in Note 45.1 to the consolidated and separate financial
statements as of the year ended December 31, 2024.
L
IQUIDITY RISK AND
F
UNDING RISK
Liquidity and funding risk is defined as the risk of not being able to meet expected and unexpected,
current and future cash flow or collateral requirements when they fall due and at a reasonable price.
The Group manages the exposure to the liquidity risk using a specific framework designed to manage
it both under normal day-to-day conditions and in the event of a potential liquidity crisis.
The liquidity risk management approach starts at the intraday level managing the daily payments flows,
forecasting and managing cash flows, and factoring in the access to central bank monetary policy
operations and standing facilities. It then covers a long-term perspective, comprising the maturity
profile of all assets and liabilities and the funding strategy.
BRD maintains a liquidity buffer of unencumbered, high quality liquid assets as an insurance against a
range of liquidity stress scenarios. A contingency funding plan is designed to protect the stakeholders’
interests and to ensure positive outcome in the event of a liquidity crisis.
In terms of governance, the Board of Directors establishes the liquidity risk appetite and tolerance,
reviews and approves the liquidity risk strategy and liquidity risk management framework at least on
an annual basis and ensures that Executive Committee manages liquidity risk effectively.
The Executive Committee, assisted by Assets & Liabilities Committee (ALCO), develops the liquidity
strategy and designs the liquidity risk management framework in accordance with the liquidity risk
appetite and tolerance in order to ensure that the Bank maintains sufficient liquidity, continuously
reviews information on the liquidity position of the Bank and reports to the Board of Directors on a
regular basis, implements the liquidity risk strategy and ensures that appropriate controls, procedures
and information flows are in place to support the strategy implementation and follow-up.
The liquidity risk position, under normal conditions, is measured at consolidated level using the static
liquidity gaps indicator which is defined as the difference between the expected future outflows and
inflows related to the current transactions (no new business included), determined for each time bucket
and currency based on the contractual maturity of the transactions, or, for non-maturing products, based
on a maturity modeled using historical client behavior or a conventional maturity.
For each budgeting and planning exercise, the future funding needs are assessed starting from the actual
liquidity position and budgeted evolution of assets and liabilities. When a deficit is expected, funding
solutions are assessed, and appropriate actions are planned.
BRD performs liquidity risk stress tests on a quarterly basis in order to identify and quantify its
exposures to potential liquidity stresses, analyzing the impact on the cash flows and liquidity position.
BRD employs two stress test methodologies, one for a 30 days horizon with focus on the short term
survival of the Bank in a time of liquidity crisis and the other for a 6 month horizon, assessing the
Bank’s resilience and ability to continue to function in times of prolonged stressed liquidity conditions.
The Bank also implemented a reverse stress test scenario which assesses what assumptions could be
considered in order to challenge the viability of the institution, starting from a pre-defined outcome
such as a breach of the minimum required level for the Liquidity Coverage Ratio as it is considered
within the Recovery Activation Dashboard.
Detailed information on liquidity risk is found in Note 45.3 to the consolidated and individual financial
statements as of the year ended December 31, 2024.
I
NTEREST RATE RISK AND FOREIGN EXCHANGE RISK IN THE BANKING BOOK
(
STRUCTURAL
RISKS
)
Structural exposure to interest rate and foreign exchange rate risks encompasses all exposures resulting
from commercial activities, their hedging and the proprietary transactions of the Group.
The interest rate and exchange rate risks pertaining to trading activities are monitored separately and
excluded from the structural risk measurement and management scope.
The general principle is to reduce structural interest rate and exchange rate risks to the greatest extent
possible. The interest rate and foreign exchange risks incurred both by the commercial activities and
proprietary activities (transactions regarding the shareholders’ equity, investments and issues of bonds)
are hedged, to the extent possible, on an individual basis or by means of macro-hedging techniques, the
remaining part is maintained within pre-established limits at prudent levels.
The interest rate risk is managed through two metrics: balance sheet sensitivity to yield curve shifts and
net interest income sensitivity. Balance sheet sensitivity is defined as the variation in the net present
value of future principal and interest cash flows of all items in the banking book, balance sheet and off-
balance sheet for two steering scenarios of +/- 10 bps parallel shift in the yield curve and for two stressed
scenarios of +/-100bps parallel yield curve shifts. A set of limits is applied to balance sheet sensitivity
and the compliance with those limits is monitored by ALCO on a monthly basis. The gaps between
outstanding assets and liabilities are determined on the basis of the contractual terms of transactions,
models based on clients’ historic behavior patterns, as well as conventional assumptions relating to
certain balance sheet items. Net interest income sensitivity indicator is calculated monthly and presented
to ALCO versus an approved set of limits. Even though a set of limits is in place for this indicator, the
main steering indicator remains balance sheet sensitivity.
In addition, two new regulatory interest rate risk indicators, EVE SOT and NII SOT, are reported on a
quarterly basis to local regulator (since September 2024) and monitored on a monthly basis in ALCO.
Both indicators have regulatory limits to be followed according to the regulation in force.,
Detailed information on interest rate risk is found in Note 45.2 to the consolidated and separate financial
statements as of the year ended December 31, 2024.
M
ARKET RISK IN TRADING BOOK
Market risk is defined as the risk of registering a loss of value on financial instruments arising from
changes in market parameters (FX rates, interest rates, share prices etc.) and correlations between them.
Market risk management is integrated within Bank’s and Group’s risk management, BRD pursuing
market risks on a prudent approach, the objective being to ensure profitable market activities but
undertaking risk levels and capital needs as low as possible. Bank’s trading portfolio represents a small
weight of Bank’s total risk exposure and contains highly liquid instruments which are traded with good
rated counterparts.
Market risk management is carried out according to the below principles:
Ø
Compliance with internal framework and local and European regulations
Ø
Functional independence from business lines
Ø
Definition and/or validation of different methodologies, metrics’ typologies, parameters and
controls for all products or activities generating market risk in trading book
Ø
Control on definition, approval and parameterization of traded products
Ø
Definition, calibration and approval of risk metrics limits
Ø
Daily analysis and reporting to the operative management of exposures and their compliance
with the approved limits
Ø
Synthetic communication to Bank’s management presenting the trading book exposures and
market risk evolutions
Detailed information on market risk is found in Note 45.2 to the consolidated and separate financial
statements as of the year ended December 31, 2024.
O
PERATIONAL RISK
Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes,
personnel and systems, or from external events. It includes the legal risk, the risk related to information
technology and communication and security risk, conduct risk and model risk, but excludes the strategic
risk.
The Group’s operational risk management system was developed and strengthened over the years and
allows:
Ø
identification, analysis and evaluation of operational risks, their control and follow up
Ø
applying measures meant to improve and strengthen the control framework, in order to
prevent/reduce operational risk losses
Ø
ensuring adequate capital requirements for covering exposure to operational risks
The day-to-day management of operational risk is the responsibility of employees from each business
unit. The personnel have to be always aware of their responsibilities in connection with identification
and reporting of operational risks and other duties which may arise in relation with the management of
operational risks.
Operational risk management tools put in place at BRD are:
Ø
Historical operational risk losses database
Ø
Key risk indicators (KRI)
Ø
Risk and control self-assessment process (RCSA)
Ø
Scenario analysis
Ø
Managerial Supervision of processes (MS)
Ø
Fraud prevention, detection and investigation system
Ø
Committee for New Products, which ensures the assessment of operational risks associated with
new products for Banks’ clients, outsourcing of activities and significant modifications of the
existing products offered to the Bank’s clients
Ø
Crisis management and business continuity plan
Ø
Management of Information Security and IT Risk
6. C
APITAL MANAGEMENT AND ADEQUACY
C
ONSOLIDATION PERIMETER
The basis for calculation of own funds is the consolidated prudential perimeter.
As BRD is parent credit institution in Romania and, at the same time, subsidiary of Société Générale,
BRD Group consolidation perimeter for prudential purposes is defined in accordance with Regulation
(EU) No 575/2013 (CRR), Part One, Title II, Chapter 2, Section 3.
The consolidated entities for prudential scope are identified based on the criteria as per Articles 4 (1)
(3), (16) to (27), 18 and 19 of CRR. According to Article 4 of CRR, entities consolidated in the
prudential reporting must have one of the following types of activity: credit institution, investment firm,
ancillary services undertaking and/or other financial institution.
In contrast, in accordance with BRD Group‘s IFRS financial statements, all entities controlled directly
or indirectly (including non-financial entities, insurance companies, etc.) are fully consolidated.
Additional exclusion of subsidiaries from prudential consolidation perimeter is based on criteria from
Article 19 of CRR. Non-consolidated subsidiaries are included in the prudential consolidated statements
based on equity method.
The prudential consolidation perimeter of BRD Group as of 2024 end includes the parent company
BRD - Groupe Société Générale S.A and BRD Sogelease IFN S.A.
O
WN FUNDS
BRD Group regulatory own funds as of December 31, 2024 amounted to 10,006 million RON (after
partial profit integration and considering the impact of OCI quick fix adjustment), compared to 8,430
million RON as of December 31, 2023 (including the profit for year 2023 net of the approved dividends
representing 50% of 2023 profit according to Ordinary General Shareholders Meeting (OGSM) decision
from April 25, 2024). The increase in own funds is mainly explained by the application, starting with
July 2024 of art. 468 of CRR3 (OCI – quick fix, as per Regulation (EU) 2024/1623) regarding the
temporary treatment of unrealized gains and losses resulting from the valuation of assets at fair value
through OCI.
BRD Group regulatory own funds as at December 31, 2024 consist of common equity capital (CET1)
and Tier 2 instruments.
Common Equity Capital (CET1) is formed of:
Ø
capital accounted until December 31, 2003. As at December 31, 2024, the share capital
amounted to RON 696.9 million, unchanged versus previous periods. The hyperinflation
adjustment amounted to RON 1,819 million.
Ø
o
retained earnings arising from IFRS implementation adjustments.
o
risk, representing reserves established by the law and share based payment reserves.
Ø
Other comprehensive income (OCI) includes unrealized gains and losses from changes in the
fair value of debt instruments at fair value through other comprehensive income and from re-
measurement of defined benefit liability arising from the post-employment benefit plan. Starting
July 2024, BRD applied the temporary treatment of unrealized gains and losses resulting from
the valuation of assets at fair value through OCI, according to art. 468 of Regulation (EU)
2024/1623) and removed from CET1 100% of the amount of unrealized gains and losses
accumulated since 31 December 2019 for debt instruments measured at fair value through
other comprehensive income.
Regulatory deductions from CET 1 applicable as at December 31, 2024 essentially involved the
following elements:
Ø
that are not prudently valuated as per Regulation 876/2019 are deducted 100% from CET 1 (as
compared to previous periods when intangible assets accounting value was fully deducted from
CET 1). Under this current approach, the positive difference between the prudential and the
accounting amortisation becomes fully deducted from the CET 1 capital, while the residual
portion of the carrying value of the software prudently valuated is risk weighted at 100%.
Goodwill is fully deducted from CET 1 capital.
Ø
to cover losses or risks.
As at December 31, 2024, Tier 2 instruments consist of two subordinated loans concluded with the
parent, EUR 250 million in total (RON equivalent 1,244 million).
C
APITAL REQUIREMENTS
From a regulatory perspective, capital requirements cover:
Ø
Ø
Ø
Ø
The calculation of credit risk capital requirement takes into account the transactions’ risk profile and is
computed according to the standardized approach (CRR Part 3, Title 2, Chapter 2) using the Financial
Collateral Comprehensive Method and information regarding credit assessments performed by external
credit assessment institutions (ECAI). All CRR2 requirements have been implemented starting from
June 2021.
The capital requirement for general position risk is calculated using the Maturity-based method.
Capital requirement for credit valuation adjustment is determined using the standardized method.
The capital requirement for operational risk is calculated according to the CRR, Part 3, Title 2, Chapter
4, using advanced measurement approaches (AMA). BRD, as a member of the Société Générale Group,
uses AMA to measure operational risk since 2008 based on the SG internal methodology and
calculation. The allocation of operational risk capital requirements to the sub-consolidated entities is
based on net banking income and history of operational risk losses.
On top of the total regulatory ratio of 8% set by Art 92 from CRR, starting 2016, based on NBR
requirements, BRD Group maintains additional own funds to cover risks resulting from internal
assessment and SREP (supervisory review and evaluation process). In 2024 this requirement
represented 4.52% of RWA (5.05% during 2023). Thus, the TSCR (total SREP capital requirements)
for BRD Group is 12.52% for 2024 (13.05% for 2023).
Overall capital requirements (OCR) represent the total of SREP requirements and capital buffers,
namely:
Ø
buffer is mandatory and fully effective from 1 January 2019 and amounts to 2.5% of total RWA.
Ø
system-wide risk is building up, capped at 2.5% of total RWA. According to NBR Order 6/2021
amending the NBR Order 12/2015, the level of countercyclical buffer for credit exposures in
Romania was 0.5% (from 0% previously), starting October 17, 2022 and 1% starting from
October 23, 2023, according to NBR Order no 7, from 25
th
Ø
in Romania, may be subject to an O-SII Capital Buffer of up to 2% of the total RWA. BRD was
identified as O-SII by NBR and O-SII Capital Buffer is 1% starting with 1 January 2016 until
December 2021 end. Based on a new calibration methodology, starting 1 January 2022 the O-
SII Capital Buffer for BRD is 1.5% of total RWA.
Ø
2018, with the aim of supporting the adequate management of credit risk and enhancing
banking sector resilience to unanticipated shocks, amid unfavourable structural circumstances.
The buffer is applied to all exposure and is calibrated at 0% - 2%, depending on the level of the
non-performing loans ratio and the coverage ratio. The systemic risk buffer applicable for BRD
is 0%.
M
INIMUM REQUIREMENT FOR OWN FUNDS AND ELIGIBLE LIABILITIES
(MREL)
According to Bank Recovery and Resolution Directive (BRRD), the banks should have the loss-
absorbing and recapitalization capacity necessary to help ensure that, in, and immediately following a
resolution, those institutions can continue to perform critical functions (criticality assessed from the
perspective of impact on the markets) without putting taxpayers’ funds, meaning public funds, or
financial stability at risk.
Therefore, it was regulated a requirement for own funds and eligible liabilities (MREL) for all credit
institutions and investment firms through BRRD1 (Directive 2014/59) transposed in Romanian
legislation through Law 312/2015, and BRRD2 (Directive 2019/879) transposed in local legislation
through Law 320/2021.
BRD received in July 2024 the notification of MREL, according to BRRD2, determined by the
resolution authority considering its consolidated situation. Starting from July 3
rd
maintain a binding level of 25.41% (vs 26.44% previously) of TREA (total risk exposure amount) and
5.90% of LRE (leverage exposure). On top of the above, combined buffer requirement should be
respected (5.0% of TREA, starting 23 October 2023).
As the resolution strategy for Société Générale is Single Point of Entry, with upstream of losses to the
resolution entity (Société Générale SA), the total MREL should be satisfied with own funds and a new
category of debt (senior not preferred, SNP), ranking above own funds and subordinated that is not AT1
or T2, but below senior preferred. The SNP should be concluded with the parent (Art. 45 f (2) BRRD2).
BRD concluded four senior non-preferred loans with the parent, of EUR 850 million in total, as
presented below:
-
(roll-over of a 2022 SNP)
-
years and a call option at 2 years;
-
with an initial term of 8 years and a call option at 7 years, both drawn in December 2023
The summary of the BRD Group and Bank capital adequacy is presented below:
2023
2024
2023
2024
Tier 1 capital
6,859
8,437
7,186
8,762
Tier 2 capital
1,244
1,244
1,244
1,244
Total own funds
8,103
9,680
8,430
10,006
Risk weighted assets
Credit risk (including counterparty risk)
32,769
32,825
34,598
34,891
Market risk
139
183
146
184
Operational risk
2,238
2,371
2,308
2,406
Credit valuation adjustment (CVA) risk
145
127
145
127
Total risk exposure amount (TREA)
35,291
35,506
37,197
37,608
Regulatory Capital Adequacy Ratio
22.96%
27.26%
22.66%
26.61%
Tier 1 ratio
19.44%
23.76%
19.32%
23.30%
Eligible liabilities (senior non preferred loans)
4,228
Total own funds and eligible liabilities
14,234
MREL (% of TREA)
37.85%
Bank
Group
Note: The Regulatory CAR indicator without the impact of OCI quick fix adjustment as of December 31, 2024 is 22.36% (Group) and 22.76% (Bank).
L
EVERAGE
R
ATIO
The leverage ratio reached 8.8% including partial profit integration and considering the impact of OCI
quick fix adjustment) as at 31 December 2024 at Group level, which is well above the 3% minimum
requirement enforced based on Regulation 2019/876 amending CRR starting with June 2021.
The sustainable level of leverage ratio results from the strong capital base, namely high-level Common
Equity Tier 1 capital and Tier 2 capital, and a balance-sheet structure specific to the universal bank
business model with core focus on retail activities.
I
NTERNAL
C
APITAL ADEQUACY ASSESSMENT PROCESS
(ICAAP)
In accordance with Article 148 of the Emergency Ordinance no. 99/2006 on credit institutions and
capital adequacy, as subsequently amended and NBR Regulation no. 5/2013 on prudential requirements
for credit institutions, BRD has in place a process for internal assessment of capital adequacy to risks.
The Bank performs periodically an evaluation of internal capital adequacy to risks by comparing the
available own funds with internal capital requirements. The general framework for ICAAP is updated
annually and the capital adequacy monitoring is performed on a quarterly basis.
A risk assessment is performed annually and involves the evaluation of all risks to which the Bank may
be exposed and the identification of the significant risks.
The internally evaluated capital requirement is determined using „Pillar 1 plus” approach, where the
capital requirements for the following risks are added to the regulatory capital requirements:
Ø
related to foreign currency lending to unhedged borrowers and risks arisen from applying less
sophisticated approaches
Ø
Ø
Ø
Ø
For the purposes of the internal capital adequacy assessment, the available own funds are considered
equal to the regulatory own funds.
Based on the Business and Risk Strategy and on the Risk Appetite, the Bank makes projections of the
own funds and capital requirements on a three years horizon in order to ensure their adequacy, both in
normal course of business and under stress situations.
7. I
NTERNAL CONTROL FRAMEWORK
Internal Control System relies on the three lines of defense model, which reinforces segregation of
duties between various functions.
The
first line
all of the Bank’s structures (located both in the Network and Headquarters) which are primarily
responsible for the ongoing management of the risks arisen in conducting their daily activities, taking
into account the Bank’s risk appetite and its policies, procedures and controls.
All Bank’s structures (including structures acting as control functions) are responsible with performing
the first level controls. They represent all measures implemented at operational level, in order to ensure
the conformity, validity and security of the performed operations (controls on operational activity and
controls on accounts).
The responsibility for the implementation and operation of first level controls is with the management
of all Bank’s structures (both in first and second line of defense), by the continuous management of
risks arising from their daily activities, as per internal normative framework, but also for the
implementation of first-level controls and by taking the necessary corrective measures in all cases where
deficiencies are identified as a result of the processes or of the carrying out of the control.
The
second line
independent from the entities that they monitor and control.
The risk management function
assessed, measured, monitored, managed and properly reported on by the business lines, for
challenging and assisting in the implementation of risk management measures by the business
lines in order to ensure that the process and controls in place at their level are properly designed
and effective.
Deputy CEO in charge of Risk (Chief Risk Officer) is the Coordinator of the Centralized Risk
Management function and reports to the management body, as well as to relevant committees, all
the results / conclusions / recommendations for improving the risk management function.
The compliance function
compliance with applicable laws, rules, regulations and standards, and assesses the possible
impact of any changes in the legal or regulatory environment on Bank’s activities and compliance
framework. It ensures that compliance monitoring is carried out through a structured and well-
defined compliance monitoring program and that the compliance policy is respected.
The compliance function is coordinated by the Director of the Compliance Department, who is the
coordinator of the compliance function at Bank level, being hierarchically subordinated to the Bank's
CEO.
As part of the risk management function, BRD has in place a Level 2 control structure that has the
responsibility to ensure a better internal control system efficiency by evaluating the quality of the level
1 control. This assessment addresses controls to prevent operational risks generated by the activities
and processes within BRD Group. Level 2 control has the following responsibilities:
Ø
framework for monitoring and controlling operational risks related to activities
Ø
have been identified by the first level of control, and that there are appropriate remedial actions
and that they are implemented
The
third line
review and objective assurance on the quality and effectiveness of the Bank’s internal control system,
the first and second lines of defense and the risk governance framework. Internal audit function reports
to and operates under the mandate of the Board of Directors.
The main instruments implemented at BRD level for ensuring an efficient internal control system are:
Ø
policies, instructions, work procedures) and their periodic review
Ø
apply working procedures adapted to the nature and volume of activity, taking into account all
risk types
Ø
levels and organizational structures, including appropriate segregation of duties at all
organizational levels, in order to prevent assignment of conflicting responsibilities
Ø
material risks
Ø
A
compliance program
Ø
Ø
management level, who should address the issues promptly
Ø
The internal control framework described above is applicable to the financial reporting processes and
provides reasonable assurance on the reliability of financial reporting, compliance with applicable laws
and regulations, as well as with the internal policies and procedures.
It is the Board of Directors’ assessment that the Group has adequate internal control and risk
management arrangements in place with regard to the Group’s risk profile and strategy.
8. C
ONSOLIDATED
S
USTAINABILITY STATEMENT
8.1. General Disclosures
Basis for Preparation
IRO 2-59 BP 1-5- a,b | Framework and Data Selection This report has been prepared European (EU) 2013/34/EU, Reporting alongside framework to facilitate sustainable investment (EU Taxonomy) transposing accordance subsequent Information, Chapters) Assessment (DMA) requirements and immaterial , After identification of material topics in the DMA, the EFRAG Guidance was used to map the material sustainability matters to the relevant disclosure requirements. Measurement Basis The International Union (“EU”) accounting policies as been listed on the pages with the relevant metrics and references. Consolidation The Sustainability Statement) has the perimeter used for preparing the IFRS Financial Statements. The Consolidated (the “Bank” |
16
DMA has been performed based on data available at the time when the analysis was realized. Improvements will be considered
in the next reporting cycles.
17
For more information please refers to the Annex chapter, table - Content Index - list of the Disclosure Requirements
BP 1-5-d
BP 2-5-
15
BP 2-5-
17
BP 1-5-c
BP-2-9
SAI S.A. (BRD Asset Management) and BRD Finance S.A
.
. For the purpose of the
Sustainability Statement the consolidated entity (BRD and its subsidiaries) is referred to
as „the Group” or „BRD Group”, and its immediate and ultimate controlling party,
Société Générale S.A., is referred to as the “SG Group” or “SG”.
For the preparation of the Sustainability Statement, BRD Group has not used the option
to omit information corresponding to intellectual property, know-how or the results of
innovation. Additionally, within this statement mainly mandatory and material
disclosures and data points according to ESRS and EFRAG guidance are included. We
have also utilized the Global Reporting Initiative (GRI) standards to determine key
metrics relevant for specific material IROs presented under the Chapter “Consumers
and end-users”. Phase-in option in accordance with ESRS 1 Appending C, has been
adopted for specific the following disclosures: ESRS 2 SBM 3, ESRS E1-9.
BRD Group’s Value Chain
The information included in the Sustainability Statement covers the value chain of BRD
Group, including upstream, own operations and downstream, and joint ventures &
associates. The DMA has taken into account material Impacts, Risks and Opportunities
(IROs) to the extent that BRD Group has ready access to the information. In future we
consider expanding this analysis, as the CSRD develops.
BRD Group’s value chain consists of the following components:
-
Upstream & Own Operations
, which include the ownership of buildings, IT
equipment, direct consumption, supplier relationships, human resources and
compliance.
-
Downstream
, which encompasses BRD Group’s core financial services’ clients,
including retail, non-retail, leasing and asset management. BRD Group serves a
diverse client base, including private individuals, small businesses, SMEs, and
large corporations, reflecting the broad impact of its financial activities across the
economy.
-
Joint Ventures & Associates
, such as BRD Asigurări de Viață S.A. and CIT
ONE S.A, which operate as business partners within BRD Group’s ecosystem.
While these entities are not fully consolidated within BRD Group’s operations,
they are considered in the value chain analysis, particularly in areas where their
activities intersect with BRD Group’s financial services.
Additionally, the Sustainability Statement provides detailed information on policies,
actions, targets, and metrics that extend across the entire value chain, including BRD
Group’s own operations and its relationships with upstream suppliers, downstream
clients, and joint ventures & associates.
Disclosures in Relation to Specific Circumstances
18
liquidation), with its activity kept at a minimum level, thus not influencing materially the disclosures in the Sustainability Statement.
BP-2-10
BP-2-11
BP-2-16
IRO-2-56
For the preparation of the Sustainability Statement, BRD Group has adopted the same
definition for short (1 year), medium (up to 5 year) and long-term (more than 5 years)
as indicated by ESRS 1 section 6.4 paragraph 77.
When data was not available, averages or proxies were used. Details on the estimates,
data sources and any potential measurement uncertainties or assumptions are
provided within the relevant Topical Chapters. For more details, please see the
information reported below in the section “Disclaimer”. For a list of information
incorporated by reference, please refer to the Annex Chapter.
The List of disclosure requirements and the List of datapoints in cross-cutting and
Topical Standards that derive from other EU legislation are reported in the Annex
Chapter.
In developing its consolidated Sustainability Statement, the Group has not relied upon
other European standards nor on data and processes verified by an external assurance
provider other than the provider of limited assurance for this report. Unless specifically
indicated otherwise, the frameworks, guidelines, policies, effectiveness of the actions,
targets and metrics presented in this Sustainability Statement are not validated,
audited, certified or assessed by or based on the opinion of an external body other than
the assurance provider for this statement.
Disclaimer
Estimates and uncertainties
Information related to sustainability is often subject to uncertainties stemming from
the state of scientific and economic knowledge, as well as the quality of both internal
and external data, such as those used for for the value chain. Moreover, prospective
information, unavailable data, and the quantification of certain sustainability metrics -
particularly environment data - rely on estimates and judgements based on BRD
Group’s experience and internationally recognized sustainability standards. These
estimates depend heavily on the hypotheses and methodological choices made.
Use of estimates and associated limitations
Sustainability metrics, especially those related to the BRD Group’s value chain like CO2
emissions, are based on estimates, averages, or assumptions, leading to data volatility
and quality uncertainties. When direct measurement isn't possible, data from
customers or external providers introduce potential inaccuracies. In the absence of
specific information, sector and geographical averages are used, which may not
accurately reflect the BRD Group’s customer portfolio. Greenhouse gas emissions
related to financing activities often require combining multiple data sources. Emission
factors, which convert consumption data into greenhouse gas emissions (GHG, in tons
of carbon dioxide equivalent - tCO2eq), vary by source and context. CO2 emissions span
various categories, each with inherent uncertainties. Additionally, differing
BP-2-12
methodological practices and changing regulations complicate CO2 emissions
estimation across the value chain.
Details on data or estimate limitations are provided in the metric descriptions. The BRD
Group is committed to improving practices and methodologies as standardized, high-
quality data become more available from external partners.
Uncertainties inherent in forward-looking information
The sustainability statement includes objectives and forward-looking statements
reflecting the BRD Group’s ambitions. This information should be used cautiously, as it's
based on current beliefs and economic forecasts and is subject to significant
uncertainties beyond the BRD Group's control. These statements do not guarantee the
realization of all ambitions. The sustainability statement outlines the BRD Group’s
trajectory in line with CSRD and ESRS obligations, not a definitive outcome.
BRD Group Governance Practices |
GOV 1-
22- a,d
Sustainability Governance
At BRD Group level, the
Board of Directors (BoD)
overseeing the Group’s Sustainability Strategy, ensuring the effective management of
material impacts, risks and opportunities (IROs). This includes defining long-term
objectives and targets that align with the BRD Group’s commitments to stakeholders,
regulatory compliance and broader ESG priorities. The BoD ensures that sustainability
considerations are integrated into the BRD Group’s strategic direction, reinforcing
alignment with regulatory frameworks, stakeholder expectations and the overarching
sustainability commitments of Société Générale Group (SG). Through its governance
role, the BoD drives responsible decision-making, monitors progress on sustainability
initiatives and ensures that BRD Group remains resilient in addressing ESG challenges
and opportunities.
The Executive Committee
(EC)
Strategy across all relevant business lines and functions, ensuring that the defined
targets are translated into actionable plans across business units.
To support these efforts, the
Sustainability Committee - ESG
, established in 2021 and
chaired by the CEO of the Bank, functions as a permanent decisional body focused on
strategic CSR and ESG analysis. The members of this committee consist of permanent
members, CEO together with the rest of the EC, General Secretary, ESPIF Director,
Acquisitions (ACH) Director, Executive Director Financial Risk Poling, and guests from
other departments (i.e. compliance, legal, logistics, human resources, business lines).
This committee’s mission is to establish the actions required to implement
sustainability, climate, and environmental strategies and policies in line with Bank’s
objectives, The Committee’s meetings in 2024 addressed CSRD obligations, including
Sustainability Strategy. A key responsibility of the committee is to monitor progress
toward established sustainability targets, ensuring accountability and alignment with
BRD Group’s broader ESG strategy. To this end, it evaluates key performance indicators
(KPIs) and monitors sustainability initiatives, meeting periodically (twice a year or as
often as necessary) to review material issues, regulatory developments and strategic
objectives.
The EC periodically informs the BoD regarding the progress of the Sustainability Strategy
implementation, including specific aspects related to material impacts, risks and
opportunities (IROs). The responsibilities related to sustainability for the BoD and EC are
formalised collectively according to legal provisions (Company’s Law and Civil Code).
The
General Secretariat
, under the CEO’s direct authority, coordinates sustainability
efforts, acting as the main liaison with stakeholders on ESG matters. It also plays a
central role in coordinating and monitoring progress, establishing sustainability
indicators in collaboration with relevant departments and ensuring regular reporting to
internal and external stakeholders.
The
Finance Department
, reporting to the Deputy CEO Finance and Treasury, is
responsible for the publication of the Annual Report which from financial year ended
December 31, 2024 onwards integrates the Sustainability Statement.
The
Human Resources Department
, under the CEO’s direct authority, engages
employees in CSR initiatives, manages material risks related to own workforce, as
identified during the DMA (Double Materiality Assessment) and manages relationship
with the Trade Union.
The
Social Environment and Positive Impact Financing Directorate (ESPIF)
, reporting
to the Deputy CEO Non-Retail, assesses environmental and social risks and supports
sustainable financing.
The
Communication Division
, under the General Secretariat’s direct authority, manages
sponsorships, community support and CSR-related communications.
To ensure comprehensive risk oversight, the
Compliance Committee
, through the ESPIF
team, provides quarterly updates to both the BoD and the EC on key environmental and
social risk highlights.
The
Transformation Department
, under the CEO’s direct authority, ensures that
sustainability-related progress is tracked through established KPI indicators in line with
Horizons 2025 and its extension Horizons 2027 strategic plan. Horizons 2027 (extension
of Horizons 2025) represents the strategic plan of BRD, focusing on 3 main pillars: Client
Centricity (growth built on all business segments, while also fostering synergies), ESG
(being a responsible financier and employer) and Efficiency (by being simpler and faster,
leveraging also on technology, while optimizing scarce resources and keeping a healthy
risk profile).
The governance structure also includes internal control mechanisms, ensuring
compliance with ESG policies, risk frameworks and ethical business conduct guidelines.
The implementation of ESG policies is monitored through
BRD Group’s Internal Control
Framework
, which ensures that sustainability risks and opportunities are effectively
managed and reported.
GOV 2-
26-a,b,c
The
Risk Management Function
, reporting to the Deputy CEO Risk, is responsible for
overseeing the identification, assessment, monitoring and reporting of the risks that
could have a major impact on Bank’s financial standing and/or its reputation (including
ESG risks), challenging the proposal made by the first line of defence regarding ESG
related normative framework, strategic objectives and sustainability strategy.
Each
business department
adapting products and services to align with BRD Group’s CSR policy and sustainability
ambitions, with progress tracked through annual indicators.
Together, these structures ensure a comprehensive, collaborative approach to
sustainability governance and execution, embedding sustainability objectives into BRD
Group’s strategy and operations.
How BoD and EC Members are Informed About Sustainability Matters
The Management Body of BRD (i.e. the BoD and the EC) receive regular updates on
material impacts, risks and opportunities, as well as the implementation and outcomes
of due diligence processes. These updates are provided by material topic owners and
subject matter experts and are reviewed on a case-by-case basis during the EC’s and
BoD’s meetings and as part of the DMA process whenever undertaken. The Executive
Directors of BRD Sogelease also receive frequent updates on significant ESG-related
impacts and risks,. Additionally, BRD Asset Management incorporates sustainability
risks into investment decisions alongside financial metrics. The ESG risks of all managed
funds are assessed twice per year, with results publicly disclosed in Key Investor
Documents.
The Management of BRD Asset Management is informed at least twice a year by the
Investment Department on ESG risk factors related to the managed funds. These
structured reporting mechanisms ensure that the Board and executive leadership have
access to relevant information to oversee sustainability-related decision-making
effectively.
The Management Body of BRD Group considers these impacts, risks and opportunities
when overseeing the BRD Group’s strategy, major transactions and risk management
processes. The BoD plays a critical role in ensuring that sustainability is embedded in
strategic decision-making by aligning ESG considerations with business objectives. BRD
Group’s sustainability strategy was developed through a combination of top-down
strategic guidelines from SG and a bottom-up approach identifying material topics
through internal analysis, such as DMA or the Business Environment Scan 2024 (BES).
SG’s strategic sustainability framework is structured around four main pillars: a culture
of responsibility, environmental transition, positive local impact, and responsible
employment. BRD Group integrates these pillars with its internally identified
sustainability-linked topics, ensuring that ESG considerations are fully embedded into
its Business Strategy, Horizons 2027. As part of this process of integration, the BRD
Group assesses the main risks and opportunities, their potential impact on clients and
GOV 1-
23-a,b
their overall business implications, ensuring a comprehensive integration of ESG factors
into the long-term strategy.
When overseeing major transactions and risk management, the Executive Committee
evaluates how ESG risks and opportunities align with market trends, business
objectives, and stakeholder expectations. ESG-related trade-offs, such as the balance
between short-term operational costs and long-term sustainability goals, are carefully
assessed.
The Sustainability Committee - ESG
, chaired by the CEO, plays a major role in
analyzing material risks and opportunities, including those related to climate change
and social impacts. This committee provides strategic guidance on integrating ESG
considerations into the BRD Group’s activities and ensures that any associated trade-
offs—such as meeting environmental regulations while managing financial
sustainability—are transparently addressed. Additionally, BRD Group’s risk
management framework incorporates ESG factors, with specialized structures such as
the ESPIF Division supporting the identification and mitigation of ESG-related risks in
transactions and client engagements.
The Board of Directors at BRD Asset Management actively integrates ESG factors into
investment oversight. When reviewing or launching new investment products, the
Board assesses their alignment with sustainability strategies. Meanwhile, at BRD
Sogelease, efforts are underway to develop a customized ESG integration framework
tailored to financial leasing activities under the supervision of the Executive Directors.
Although the framework is still under development, several ESG risk controls have
already been implemented as part of SG’s ESG program.
The material impacts, risks, and opportunities identified through the DMA were
validated by the Sustainability Committee - ESG and the EC before final approval by the
BoD. These identified factors are detailed under the disclosure SBM 3 of the relevant
reporting chapter.
Skills and Expertise Related to Sustainability
To ensure that the Board of Directors (BoD) and Executive Committee (EC) possess the
necessary sustainability-related expertise, BRD Group has implemented a structured
approach to skills development and continuous learning. The
Nomination Committee
plays an essential role in this process by identifying, proposing and submitting for
approval candidates for management positions, ensuring that selected candidates meet
the expectations of capital markets, regulatory bodies such as the National Bank of
Romania (NBR), and corporate governance best practices. This includes, among others,
expertise in sustainability, business conduct and ESG-related matters. The Nomination
Committee also conducts an annual assessment of the BoD’s structure, size and
performance, making recommendations to enhance sustainability-related
competencies where necessary.
For members who may not possess direct expertise in sustainability, BRD Group ensures
access to a team of trained and certified experts with specialized knowledge acquired
through the implementation of sustainability projects. Additionally, members of the
management bodies actively participate in annual training programs designed to
GOV 1-5-
a,b
enhance their understanding of material sustainability topics. In 2024, targeted training
sessions were conducted on CSRD and ESRS, ensuring alignment with regulatory
requirements and evolving sustainability trends. BRD Group’s Training Plan, developed
annually in line with the BRD Group’s strategy and operational priorities, emphasizes
upskilling and reskilling to support business needs while ensuring compliance with legal
and regulatory certification requirements for key functions.
The principles underlying BRD Group’s training and development strategy include
alignment with business objectives, open communication, equity and transparency. ESG
and sustainability topics have been important topics in the training agenda for 2023 and
2024, with dedicated courses covering areas such as Climate Fresk, Sustainable IT
Awareness, CSR Standards, Circular Economy, Environmental Crisis Management,
Protecting Biodiversity and Sustainable Finance Regulations. These sessions help equip
management with the necessary skills to understand, assess and address sustainability
impacts, risks, and opportunities relevant to BRD Group’s operations.
Beyond formal training, BRD Group leverages internal and external expertise through
introductory presentations, workshops and expert-led sessions when major
sustainability programs—such as the implementation of CSRD/ESRS requirements—are
introduced. These initiatives ensure that the BoD and EC are well-informed about
sustainability-related regulatory changes, risks and opportunities, reinforcing their
ability to integrate sustainability into strategic decision-making.
The departments within BRD Group are gaining knowledge of the sustainability impacts,
risks and opportunities related to their specific activities. Training needs are directed
also to material topics relevant to BRD Group’s operations. The EC reviews and validates
the annual Training Plan, ensuring that it is aligned with the strategic priorities of the
BRD Group activities and industry trends.
Business Conduct Governance
The BoD and EC play a critical role in upholding high standards of business conduct.
These bodies operate under clearly defined rules of organization and functioning,
promoting high ethical and professional standards and a strong internal control culture.
The BoD holds the ultimate responsibility for overseeing BRD Group’s corporate
governance framework, ensuring compliance with regulatory requirements, and
embedding business conduct principles into the Bank’s strategic direction. The BoD is
responsible for establishing and maintaining high standards of corporate ethics,
managing conflicts of interest and fostering a transparent business environment.
The EC is responsible for implementing the strategic and operational decisions set by
the BoD. It ensures that business conduct policies are effectively applied throughout the
organization, embedding ethical principles into daily operations, customer interactions
Table 1: ESG KPI for EC members
GOV 1-
21-c
GOV 3-
29-a-e
E1-GOV-
13
and internal processes. The EC also oversees risk management practices, ensuring
alignment with BRD Group’s long-term objectives and regulatory standards.
Moreover, the BoD annually assesses the adequacy of the Management Body, and its
members based on reports from the Nomination Committee. This ensures that the
Management Body is well-suited for the dimension and complexity of the BRD Group's
activities. To assist in performing its responsibilities, the BoD has established four
committees, including the Audit Committee, Risk Management Committee and the
Remuneration Committee.
BRD Group prioritizes continuous learning and professional development for its
management bodies by providing targeted workshops and training courses on business
conduct. Members of the BoD and EC participate in mandatory and voluntary training
programs covering critical topics such as anti-corruption, combating inappropriate
behavior, the Code of Conduct, international sanctions compliance, competition law,
anti-money laundering (AML), countering the financing of terrorism, and information
security. Additionally, workshops on organizational culture have been conducted with
BoD members and executive directors to define and reinforce corporate values and
ethical principles. Tailored coaching programs for top management further enhance
their leadership capabilities in fostering a strong ethical culture within BRD Group.
For more information related to the BoD and EC members in relation with BRD Group’s
sector of activity, products and Romanian market, please refer to Chapter 2 Corporate
Governance of the current Annual Board of Directors’ Report 2024.
Sustainability-related Performance Incentive Schemes
BRD Group recognizes the importance of aligning remuneration practices with
sustainability goals to drive long-term value creation and support the BRD Group’s ESG
commitments for the Management Body.
The table below included the weight of ESG KPI for EC members:
Members | Weight of sustainability- related KPI included in management remuneration for 2024 | Description of sustainability-related objective |
GOV 1-
21-b
GOV 1-
21-d,e
GOV-1
21-a
GOV 4
Chief Executive Officer | 10% | SG Group KPIs on ESG: reduction of Oil & Gas exposure |
Deputy Chief Executive Officer Corporate | 5% | Green financing volume on Corporate |
Deputy Chief Executive Officer Retail | 5% | Green financing on Retail volumes |
Deputy Chief Executive Officer Financial Markets | 5% | Green investment product |
Deputy Chief Executive Officer Finance and Treasury | 10% | Green financing volumes at bank level, bank's operations CO2 footprint |
Deputy Chief Executive Officer Projects and Operations | 5% | Green IT, operations CO2 footprint |
Deputy Chief Executive Officer Risks | 15% | ESG strategy, Policy (incl. ESG by Design) |
At present, BRD Group’s current remuneration policy for the Management Body does
not include structured incentive schemes directly linked to sustainability matters.
However, each year, specific objectives are established for the members of these
bodies, including those related to sustainable finance.
Other Governace-related Information
BRD Group ensures employee representation through its adherence to the Collective
Labour Agreement and relevant legal requirements, allowing the Representative of the
Trade Union to be invited to some BoD meetings to address employees' rights and
interests. This inclusion fosters dialogue between the management and the Bank’s
workforce, ensuring that employees’ concerns are considered in decision-making.
In terms of gender diversity, as of December 31, 2024, the BoD consists of nine
members, with five female (56%) and four male (44%), resulting in an average female-
to-male ratio of 5:4. Additionally, there are four independent board members,
accounting for 44% of the BoD. The EC, however, has a different gender composition,
with five male members (71.4%) and two female members (28.6%), reflecting an
average female to male ratio of 2:5.
For information related to the number of executive and non-executive of the BoD
members, please refer to Chapter 2 Corporate Governance of the current Annual Board
of Directors’ Report 2024.
19
31, 2024.
GOV 5
Statement on Due Diligence
Information on the due diligence process for the Sustainability Statement is given in the
table below.
Table 2
: Treatment of Due Diligence in the Sustainability Statement
CORE ELEMENTS OF DUE DILIGENCE | Section in the Sustainability Statement |
Embedding due strategy and business model | ESRS 2 – GOV-2, pg. 68-69 ESRS 2- GOV -3, pg. 71-72 ESRS 170-171 |
Engaging with key steps of the due diligence | ESRS ESRS 2- SBM-2, pg. 80-85 ESRS 2- IRO-1, pg. 85-90 ESRS 171-179, 193-196 S1-2, pg. 154-155 S4-3, |
Identifying impacts | ESRS 2 – IRO-1, pg. 85-90 ESRS 2 – SBM-3, pg. pg. 94-103, 145-149, 170-171 |
Taking impacts | ESRS 179-189, 199 |
Tracking efforts and communicating | ESRS 190, 199 |
Risk Management and Internal Controls over Sustainability Reporting
Currently, BRD Group does not have a fully formalized risk management and internal
control system dedicated exclusively to the sustainability reporting process. However,
sustainability reporting is conducted within the broader corporate governance
framework, with responsibilities distributed across relevant departments, while the
ultimate responsible for the integration of the Sustainability Statement within the BoD
Annual Report lies with Finance. The reporting process relies on existing internal
controls (Chapter 7 Internal Control Framework of the current Annual Board of
Directors’ Report 2024), such as data verification by responsible units, alignment with
regulatory requirements and high-level oversight by management. While there is no
dedicated sustainability reporting control framework yet, efforts are made to ensure
compliance with applicable standards through collaboration between operational
teams and departments responsible for the preparation of the sustainability reporting.
Risk Assessment Approach
BRD Group does not currently employ a formalized risk assessment methodology for
sustainability reporting. However, potential risks related to data accuracy,
completeness, and consistency have been identified and managed during the reporting
process. The prioritization of these risks is based on factors such as regulatory
compliance requirements, stakeholder expectations, and internal strategic priorities.
Key risk areas considered include data reliability from different business units, potential
misalignment with reporting standards and evolving regulatory demands. BRD Group is
planning to enhance the risk assessment process by developing a more structured
approach to sustainability reporting risk identification and management.
The following key risks related to the sustainability reporting process have been
identified:
◾
Data accuracy and reliability:
to reliance on manual data collection and limited automation. Mitigation: Internal
validation processes conducted by the responsible reporting teams, cross-
departmental reviews.
◾
Regulatory compliance risk:
sustainability disclosure requirements. Mitigation: Continuous monitoring of
regulatory changes and consultation with subject matter experts, including
external consultants.
◾
Internal capacity and expertise:
reporting frameworks still under development, which may impact reporting
quality. Mitigation: Ongoing capacity-building efforts, including internal training
and collaboration with external consultants.
◾
Timeliness of reporting:
sources within required timelines. Mitigation: Improving internal coordination,
and project management, with clearer and larger intermediate milestones.
Integration of Risk Findings
BRD Group integrates findings related to sustainability reporting risks through its
existing governance processes. Insights gained from previous voluntary reporting cycles
are used to improve data collection methods and coordination between departments.
Cross-functional collaboration – particularly between Finance, Risk Management
Structures and the General Secretariat – ensures that identified reporting challenges
are addressed through ad-hoc process adjustments. Future efforts aim to formalize the
integration process by implementing dedicated sustainability reporting policies and
procedures.
Oversight and Reporting Mechanisms
Sustainability reporting progress and key challenges are communicated through general
reporting mechanisms, such as periodic updates to the EC and Sustainability Committee
- ESG. ESG and reporting-related findings are also discussed in relevant working groups
when necessary (i.e. ESG by Design Program, ESG working group). Plans are in place to
enhance periodic reporting through the establishment of formalized reporting
mechanisms to management bodies to ensure improved oversight and decision-
making.
BRD Group Business Model and Sustainability Strategy
SBM-1- 40-a SBM 1- 42-a | Business Model BRD Group is BRD operates as and services to integrates create long-term value for customers, investors BRD Group's offering extends financial entities such as BRD Asset Management and BRD Sogelease, which to a diversified product offering tailored to different market ESG factors are being progressively integrated into BRD Group’s strategy and processes through SG’s completion expectations Group’s core operations. More information on BRD Group business and products is included in the financial part of the Board of Directors Report (Chapter 4. Group activity and results). Inputs BRD Group and adherence to regulatory and sustainability frameworks. The main inputs include: |
SBM 1-
42-b
◾
Financial Capital
: Sourced from its shareholders, the main one being Societe
Generale, customer deposits, equity, interbank loans and partnerships with
international financial institutions such as the European Investment Bank (EIB) and
the International Finance Corporation (IFC), supporting sustainable finance and
other lending programs.
◾
Human Capital
: The Bank invests in workforce development through continuous
learning programs, ESG-focused training and employee engagement initiatives to
align with sustainability goals.
◾
Technology and Digital Infrastructure
: BRD Group is enhancing its digital
capabilities with investments in fintech partnerships, internet banking including
mobile applications, and automation to improve efficiency and customer experience.
◾
Sustainability Integration
: ESG considerations are progressively embedded into
BRD Group's operations also through the Société Générale Group's "ESG by
Design" program, aligning with regulatory expectations and voluntary commitments.
◾
Regulatory Compliance
: BRD Group operates in compliance with national and EU
regulatory frameworks, such as the EU Taxonomy and Sustainable Finance
Disclosure Regulation (SFDR), ensuring transparency and accountability in its
sustainable finance practices.
Outputs
BRD Group’s outputs translate into a wide range of products and services that
contribute to financial inclusion, sustainability and economic development.
For retail customers, BRD Group provides a comprehensive suite of banking products
for individuals and small businesses, including loans (consumer, mortgage, green loans,
investment loans), current account services, and investment solutions including
through BRD Asset Management Undertakings for Collective Investment in Transferable
Securities (UCITS) funds.
Corporate clients benefit from a diverse range of financial solutions such as investment
financing, working capital facilities, sustainability
-
linked loans (SLLs
) or letters of
guarantee, and asset-based leasing through BRD Sogelease, which supports companies
in acquiring energy-efficient equipment or assets contributing to a climate-change
objective and transitioning to greener business models.
Additionally, specialized financial leasing solutions cater to key sectors such as
transportation, agriculture and healthcare, enabling businesses to acquire essential
assets while focusing on energy efficiency and sustainability.
For investors, BRD Asset Management offers a growing portfolio of ESG-aligned
investment funds, supporting investors in aligning their portfolios with sustainability
goals while achieving competitive returns.
20
Sustainability-linked loans refer to any type of loan instruments and/or contingent facilities (such as bonding lines, guarantee
lines or letters of credit) which incentivize the borrower’s achievement of ambitious, predetermined sustainability performance
objectives.
SBM 1-
42-c
Moreover, the BRD Group’s commitment to sustainable financing
, with a target of EUR
2.4 billion by 2027, provides long-term value and aligns with global sustainability trends.
Beyond customers and investors, BRD Group actively collaborates with international
financial institutions (e.g., IFC, EIB) to facilitate access to financing for green and social
projects such as renewable energy, clean mobility, and sustainable urban infrastructure.
Furthermore, BRD Group actively contributes to social inclusion by financing public
sector initiatives and programs aimed at supporting local employment and vulnerable
communities.
Value Chain
BRD Group's value chain involves a complex ecosystem of suppliers, providers and users
of financial services and partners that play a key role in its business model. For more
details on the BRD Group value chain please refer to the information reported under
ESRS 2-BP-1.5c.
SBM-1- 40 a, e, f | Commitment to Sustainability and Responsible Finance BRD collaboration with its address climate change and broader sustainability challenges. To products green, social, sustainable and sustainability-linked financing solutions are available. Sustainable and/or Framework financing (PIF), sustainability-linked loans (SLL), and other specialized loans like blue or gender loans. Sustainable financing encompasses green or social or internally defined less stringent than those provided by BRD Group will meet the Sustainable internal metric the EU Taxonomy. |
For retail customers, key offerings include Habitat Verde loans and Expresso Verde
loans, designed to support environmentally friendly and responsible individuals
financing. Moreover, BRD Group is expanding its green loan offerings under EU Invest
sustainability support schemes and establishing partnerships with energy efficiency
solution providers, such as solar panel providers, to scale up its green financing
solutions.
For non-retail clients, BRD Group provides tailored financial solutions across different
industries, including energy and the power sector (with a focus on renewable sources),
utilities, and real estate, particularly for green buildings. More specifically, BRD Group
leverages Sustainable and Positive Impact Finance (SPIF) and Sustainability-Linked
Loans (SLL) to support renewable energy and energy efficiency projects. BRD Group also
supports clean transportation, logistics, and distribution by financing infrastructure that
facilitates sustainable mobility. The Bank also prioritizes fostering sustainable actions
within its operational geography, focusing on smart municipalities and local authorities,
circular economy initiatives, medical services, green buildings, water treatment, and
biodiversity projects.
BRD Sogelease, the financial leasing arm of BRD Group, is committed to supporting the
transition to a low-carbon economy by increasing green and sustainable financing
solutions tailored to industries such as transportation, energy transition and circular
economy projects. In its endevour, BRD Sogelease is also using a financing facility
provided by EIB. This initiative supports customers' industries such as agriculture,
transportation and logistics by applying specific technical criteria. For 2024, BRD
Sogelease had an objective to reach a 12% share of sustainability related financing out
of the total new financing volumes granted to its clients (14.5% as at December 31,
2024) As such, in 2024, a dedicated commercial campaign provided favorable financing
conditions for companies using financial leasing solutions to acquire low-emission
vehicles.
In the investment domain, BRD Group focuses on sustainability-linked swaps for
corporate clients and structured placements with sustainability features for individuals,
alongside an increasing number of ESG-focused investment funds managed by BRD
Asset Management. BRD Asset Management considers the sustainable investment
principles, being a member of the Principles for Sustainable Investments since 2023,
making it the only Romanian asset manager part of this initiative. With a strong
commitment to reducing environmental and social risks, BRD Asset Management is
actively building a globally diversified portfolio that includes equities and tradable ETF
UCITS, ensuring exposure to global equity markets with ESG characteristics at the
aggregate portfolio level.
During the reporting period, BRD Group has continued to focus on sustainability-related
financing, addressing the growing demand for green and sustainable financial products.
The growing interest in sectors such as renewable energy, sustainable buildings
construction, energy efficiencies and electric mobility, reflects the BRD Group’s
contribution to support the transition to a low-carbon economy. Each transaction
undergoes a rigorous impact assessment process and is structured based on
internationally recognized standards (depending on the type of product, we refer to
LMA Green Loans principles, LMA Sustainability-linked loans principles, LMA Social
loans principles, ICMA Sustainability-linked bonds Principles; in addition, relevant
transactions take into account technical screening criteria as per the EU Taxonomy
Regulation), with a commitment to ensuring that financed projects deliver tangible
environmental and social benefits (e.g. for corporate clients BRD requires ESG impact
reports depending on the type of transaction – these may include KPIs to be respected
by customers, such as reduction in emissions, carbon / energy efficiency, energy
consumption reduction, etc.).
As part of its sustainability strategy under the Horizons 2025 plan, BRD Group aimed to
achieve a cumulated production of sustainable financing of > EUR 1 billion by 2025
(cumulated over 3 years), contributing to SG’s overall commitment of EUR 300 billion in
sustainable transactions. This target was achieved in September 2024. This has led to a
more ambitious target of EUR 2.4 billion by 2027 set as part of the updated strategic
plan, Horizons 2027.
In addition, BRD Group is enhancing its collaboration with financial institutions such as
the IFC, the EIB (through EIF), and leveraging EU funds, including the National Recovery
and Resilience Plan (PNRR), to support sustainability projects across various sectors.
Under this framework, BRD Group is developing and promoting Climate, Blue and
Gender financing through an extended partnership with the IFC, and energy efficiency
and social financing through partnership with the EIF, while Sogelease is strengthening
its cooperation with the EIB to facilitate green financing solutions for SMEs.
Q1 2024 was marked by a landmark transaction on Romanian market, namely an
innovative Synthetic Risk Transfer (SRT) transaction closed with IFC on a reference
portfolio of EUR 700 million, transaction that enabled BRD to free up capital with the
purpose to boost capabilities in financing of impactful sustainability-related projects in
Romania (more than EUR 300m committed to finance climate-related initiatives and
women-owned small businesses). See note 10.1 Loans and advances to customers from
Consolidated and separate financial statements.
Additionally, in 2024, BRD Group has further strengthened its digital banking services,
enhancing accessibility for individuals and business clients through improved online
platforms and mobile banking applications. This has led to an increase in digitally active
customers, with a growing number of clients preferring online and remote banking
solutions.
21
Established Targets Related to Climate Change”
22
Blue financing refers to ocean - friendly projects and critical clean water resources protection
23
gender disparities and empower women and men to contribute equally to society’s development
SBM-1-
40 g
BRD Group’s Sustainability Strategy
BRD Group’s strategy incorporates key elements that directly impact sustainability
matters, with a strong focus on supporting environmental transition, aligning with
global climate goals, and addressing critical sustainability challenges. BRD Group’s
Sustainability Strategy is aligned with the four strategic pillars of Société Générale (SG)
Group:
◾
Environmental Transition
: accompany all client segments in their transition, with
innovative solutions to serve their changing needs.
◾
Positive Local Impact
: be a catalyst for positive societal and economic impact for
communities across geographies
◾
Culture of Responsibility
: maintain high standards of governance, with a corporate
purpose that drives our values and mindset
◾
Responsible Employer
: offer an attractive, inclusive and engaging working
environment
The strategy addresses sustainability matters by integrating ESG considerations into
financial operations, risk management and corporate governance.
The pillar “Environmental Transition” revolves around three main objectives:
supporting clients in their sustainability transition, contributing to SG’s climate
commitments, and reducing BRD Group’s own environmental footprint. In this sense,
BRD Group is actively working to align its portfolio with SG Group's Net Zero Banking
Alliance (NZBA) commitments, which aims to achieve carbon neutrality across key
emissions-intensive sectors. SG has implemented origination guidelines for the top ten
most carbon-intensive sectors, including thermal coal, oil & gas, power generation,
cement, aluminum, steel, automotive, shipping, aviation, and commercial real estate,
which have been transposed locally, to BRD Group. Sector-specific transition plans will
be developed using a color-coded asset classification system to facilitate compliance
with regulatory requirements, including CSRD and the means of operationalizing them
will be assessed by the end of 2025. To contribute to this effort, BRD Group set the
target to deliver EUR 2.4 billion in sustainable finance production by 2027 and is
increasing the share of green finance in BRD Sogelease’s portfolio, while gradually
reducing exposure to customers and industries with high ESG risks.
BRD Group is committed also to minimizing its environmental footprint by setting
ambitious reduction targets for its operations, including IT infrastructure - achieving a
24
Sustainable financing refers to financial transactions that generate environmental and/or social benefits, aligning with either
the Green & Sustainability Linked Loans Framework or the Green Financing Framework, and may include positive impact
financing (PIF), sustainability-linked loans (SLL), and other specialized loans like blue or gender loans. Sustainable financing
encompasses green or social loans used to finance or refinance eligible Green/Social Projects, with methodologies and criteria
that are internally defined and distinct from the EU Taxonomy's criteria, being less stringent than those in the EU Taxonomy.
Consequently, not all sustainable finance provided by BRD Group will meet the strict criteria for EU Taxonomy alignment and
the Sustainable Financing metric and target presented hereinafter in this report is an internal metric and must not be confused
with the Green Asset Ratio (GAR) KPI under the EU Taxonomy.
55% reduction in the carbon footprint of its own operations by 2027, compared to the
2019 baseline. Thus, BRD Group is implementing initiatives such as green IT strategies,
fleet greening programs, and energy efficiency measures to ensure a continuous
reduction in operational emissions. For more details, please refer to Chapter Climate
Change, section Impacts, Risks and Opportunities Management, sub-section Actions
Related to Climate Change Adaptation, Climate Change Mitigation and Energy.
Socially, BRD Group fosters economic transformation by supporting SMEs,
municipalities, and local entrepreneurs through targeted financing and awareness
initiatives, including gender finance and programs dedicated to social inclusion.
Governance-wise, BRD Group has embedded ESG principles into its decision-making
processes, implementing performance-linked sustainability metrics for senior
management and strengthening oversight through an ESG Working Group.
BRD Group anticipates several challenges in achieving its sustainability goals. Adapting
to evolving EU regulations, such as CSRD and the EU Taxonomy, while ensuring
transparency in reporting, remains a key priority. Additionally, assisting high-carbon
sectors in their transition poses significant client transition risks, requiring careful
management of associated credit and reputational exposures. Furthermore, scaling
sustainable finance to meet the growing market demand while aligning product
offerings with evolving environmental standards presents a strategic challenge that BRD
Group aims to address through continuous innovation and strategic partnerships.
Another critical challenge is the availability and quality of data, particularly in financed
emissions reporting, which BRD Group introduces for the first time in 2024,
necessitating robust data collection and analysis capabilities.
BRD Group Stakeholder Engagement
SBM-2-
45 a
BRD Group recognizes the importance of effective stakeholder engagement as a key
component of its business strategy and sustainability efforts. Thus, it actively interacts
with a diverse range of stakeholders to identify their expectations, address concerns
and adapt its strategies accordingly to manage impacts, risks and opportunities.
The primary objectives of BRD Group’s stakeholder engagement efforts are to
understand stakeholder expectations and concerns, strengthen trust and long-term
relationships, align business objectives with stakeholder needs, drive continuous
improvement in products and services, and integrate ESG factors into business
operations and decision-making.
25
The insights gathered from these interactions form a continuous feedback loop
(feedbacks from customers interactions, market research, surveys are collected at
different moments, through various channels), allowing BRD Group to adapt its
products and services based on customer input, enhance employee policies and
working conditions, improve transparency for investors and regulators, shape corporate
social responsibility initiatives in response to community needs, and refine strategic
planning to align with market and regulatory expectations.
BRD Group’s key stakeholders include:
◾
Employees
through various internal communication and feedback mechanisms (i.e. employee
satisfaction survey, customer satisfaction survey, whistleblowing channels,
complaints channels available for employees and customers, previous stakeholder
engagement, etc.).
◾
Capital Market
financial disclosures.
◾
Sectorial or Market Associations
financial industry standards and policies.
◾
Unions
development.
◾
Clients
products and services.
◾
Local and Central Authorities
– Regulatory bodies that ensure compliance with
legal and ethical standards.
◾
Mass-Media
operations and initiatives.
◾
Suppliers
quality.
◾
Shareholders
sustainability initiatives.
◾
Competitors
and sectoral progress.
◾
Local Communities
initiatives and sustainable finance efforts. The consultation was done mainly via
NGOs we are working with.
BRD Group engages with all identified stakeholders on a regular basis through
structured communication channels. Engagement occurs across various key areas, such
as sustainability, financial performance, regulatory compliance, and social
responsibility. This engagement is managed through formalized communication
structures and dedicated functions within BRD Group, ensuring an efficient and
structured approach.
Table 3 - Key engagement methods
Customer Relations | - suggestions and complaints. - - customer feedback to enhance service |
Employee Dialogue | - and unions. - diagnostic studies. - concerns and provide suggestions. |
Shareholder and Investor Communication | - transparency and equal access to information. - investor-dedicated website section communication. |
Interaction with Authorities | - cooperation with local and - frameworks through collaborative |
Engagement with Other Banks and Associations | - Association (ARB) and the Council Employers in Romania (CPBR), advocating sector-wide improvements and BRD AM is a member of the Association Administrators (AAF). BRD SOGELEASE member of the Romanian Association Companies (ALB) and of the Romanian Credit Owners Association (PLCR). |
Community Engagement | - participation in social initiatives financial inclusion, and environmental |
Engagement with suppliers | - Suppliers are engaged through the Group tool, Sourcing Hub, deployed in all entities, including BRD. - Email communication is used for various exchanges, as well as regular meetings with suppliers. |
Engagement with mass media | - Constant care for transparency and pro-active attitude through the Communication Department, which manages the main tools for media relations, through press releases, press conferences, digital |
SBM 2-
45 b
SBM 2-
45 c
communication, social media and partnerships with
various events, in order to offer a fair image on
BRD’s activities, strategy and role in the Romanian
economy.
Aligning strategy to stakeholders’ expectations
BRD Group’s key stakeholders have expressed a growing interest in responsible banking
practices, sustainable finance solutions, and increased transparency regarding ESG-
related risks and opportunities.
In response, BRD Group has aligned its strategic objectives with these expectations by
embedding sustainability considerations into its operations through the Société
Générale Group’s ESG by Design program and the Horizons 2025/2027 strategic plans.
For its clients, BRD Group has expanded its portfolio with sustainable financing
solutions, as detailed in the previous Section BRD Group Business Model and
Sustainability Strategy.
Internally, BRD Group prioritizes employee well-being and professional development,
conducting satisfaction surveys, fostering an inclusive workplace culture, and providing
sustainability-related training programs.
Investors and shareholders benefit from enhanced transparency through ESG
disclosures, including on assumed commitments.
The interaction with regulatory authorities ensures compliance with evolving
sustainability-related regulations, while proactive collaboration with local communities
has led to initiatives in areas such as financial literacy, circular economy, and social
inclusion. BRD Group also works closely with municipalities and local authorities to
advance smart city projects, sustainable infrastructure, and biodiversity initiatives.
Additionally, ESG criteria are integrated into procurement processes, strengthening
relationships with responsible suppliers.
To maintain transparency and accountability, BRD Group is also committed to
enhancing its reporting practices by implementing more robust impact assessment
methodologies and engaging third-party ESG rating providers for independent
evaluations of its sustainability performance. In 2024, Sustainable Fitch has upgraded
BRD-Groupe Société Générale S.A.'s (BRD) ESG Entity Rating to '2' from '3' and improved
its entity score to 63 from 60.
To facilitate the integration of stakeholder expectations in the strategic objectives, the
BoD and the EC are regularly – at least annually – informed through reports,
SBM 2-
45 d
S1-SBM
2-12
performance reviews, and direct engagement initiatives such as shareholder meetings,
regulatory dialogues, and client and employee feedback channels.
Interests and views of own workforce and their impact on the BRD Group’s strategy
and business model
BRD Group recognizes its own workforce as a key stakeholder group and integrates its
interests, views and rights into its strategy and business model through an approach
aimed at fostering an engaging and inclusive working environment. As a responsible
employer, BRD Group has set clear objectives to offer an attractive and engaging
workplace by building an “employee-centric” organization. This involves initiatives
focused on employee wellbeing, simplification of processes, and the implementation of
people-oriented programs designed to enhance job satisfaction and work-life balance.
BRD Group actively engages with employees through regular dialogue, surveys, and
feedback mechanisms to ensure their needs and concerns are addressed in shaping
strategic decisions.
In line with its commitment to Diversity, Equity, and Inclusion (DE&I), BRD Group
promotes awareness and integrates DE&I principles into HR processes. The organization
is committed to implementing fair remuneration practices and actively working towards
ensuring equitable treatment and equal career advancement opportunities for all
employees. These efforts are reinforced through internal policies and programs that
support a culture of respect, inclusion, and professional growth.
BRD Group is also committed to growing its people by equipping them with the
necessary skills and competencies aligned with the evolving business landscape and
sustainability objectives. The bank rewards employees for acquiring new skills and
recognizes performance based on collective and individual KPIs. The deployment of a
leadership competence model across its HR processes, along with mentoring programs
and ESG-focused training initiatives such as the ESG Academy and Blue and Gender
Finance courses, demonstrates BRD Group's proactive approach to aligning workforce
development with sustainability goals.
Through these initiatives, BRD Group ensures that the interests and rights of its
workforce are embedded in its strategic direction and business operations. The
continuous assessment and improvement of employee engagement strategies, coupled
with leadership’s commitment to fostering an inclusive and supportive culture, reflect
BRD's dedication to being a responsible employer that values and empowers its
workforce.
There are several internal documents, covering all employees, which provide clauses
referring to the respect of human rights, such as freedom of association, right to freely
exercise the union rights, freedom of opinion, equality of chances and treatment, non-
discrimination, elimination of any form of dignity infringement, health and safety work
environment and proper work conditions. These clauses are reflected in principle in the
Internal Regulation, the Deontology Code and, in case of BRD and BRD Sogelease, the
Collective Labor Contract (already in force in case of BRD and in course of registration
with authorities in case of BRD Sogelease).
According to the Employee Barometer for 2024 (76% participation rate), BRD Group had
73% of the respondents considering that they have a balance between their
professional/personal life, 95% of the respondents considered that the behavior of their
team is ethic and responsible, 85% of the respondents considered that they can speak
up freely.
Interests and views of clients and their impact on BRD Group’s strategy and business
model
BRD Group integrates the interests, views, and rights of its clients into its strategy and
business model by offering responsible and innovative financial solutions. As a key
stakeholder group, the clients are at the core of BRD Group's commitment to
contributing to a better and more sustainable future. BRD Group continuously engages
with its clients (i.e. day to day interaction of relationship managers, contact center, NPS
benchmark) to understand their evolving needs and expectations, shaping its offerings
to align with their sustainability goals and social well-being.
For both corporate and retail clients, BRD Group provides adapted financing solutions
supporting businesses to transition towards more sustainable operations while
contributing to broader community goals and making sustainable investments more
accessible to individual clients. Details were included in the previous Section, BRD Group
Business Model and Sustainability Strategy.
In the investment domain, BRD Asset Management develops financial products with
sustainability-linked features, offering structured placements for individual investors
and an increased number of ESG-focused investment funds. These initiatives provide
clients with responsible investment opportunities that align with their values and
S4-SBM
2-8
sustainability goals. Additionally, BRD Sogelease focuses on promoting green financing
in specific industries, supporting the decarbonization of transport and facilitating the
transition to a circular economy through tailored financing solutions.
BRD Group actively supports economic and social transformation by offering financing
solutions to municipalities for infrastructure development on both large and small
scales. BRD Group also assists SMEs in their sustainability transition through awareness-
raising initiatives such as the SME District and SME Summit, providing educational
resources and financing options tailored to their needs. Gender and social finance are
also covered, with BRD Group actively promoting female entrepreneurship through the
IFC partnership, which aims to support local businesses with dedicated funding of 78
MEUR until 2027.
To enhance sustainable mobility, BRD Group focuses its automotive sector strategy on
financing companies that develop and produce parts for electric and hybrid vehicles,
alongside standard green fleet financing products in partnership with IFC. BRD
Sogelease continues to expand its offerings by financing zero-emission cars and
commercial vehicles, encouraging clients to adopt cleaner transportation options.
BRD Group is committed to financial inclusion and education, developing customized
financial products for specific client segments such as students and pensioners, and
enhancing accessibility through e-accessibility solutions for disabled customers.
Ensuring the physical and digital security of clients remains a top priority, with
continuous investment in cybersecurity technologies and robust data protection
measures.
Furthermore, BRD Group strengthens its social impact by supporting national projects
in education, culture, and environmental protection. Initiatives such as the Climate
Change Summit, Fundatia 9 programs (Scena 9, Scoala 9, Rezidenta 9), and the
Mindcraft Youth program demonstrate the Bank’s commitment to raising awareness
and fostering long-term positive change.
Double Materiality Assessment Process
IRO 1-53
a
Methodology
BRD Group has established a structured double materiality assessment process to
identify and evaluate sustainability-related impacts, risks and opportunities (IROs) from
both financial and impact perspectives. This process is aligned with the requirements of
IRO 1-53
d
IRO 1-53
g
the European Sustainability Reporting Standards (ESRS 1), ensuring a thorough
consideration of how sustainability matters influence the Group’s financial
performance, as well as the Group’s broader impact on the environment and society.
The assessment was conducted with a holistic approach, considering BRD Group's IFRS
consolidation perimeter and its upstream and downstream value chain.
The Double Materiality Assessment (DMA) was carried out in three main phases:
Understanding the Context | This initial phase aimed to develop a BRD Group’s relevant this considering chain. |
Identifying and Assessing Impacts, Risks, and Opportunities | In this phase, the Group identified and assessed IROs a predefined list 1 AR 16. The IROs were determined based on data collected in impact evaluated and society, while risks and opportunities were their development was further to ensure accuracy and relevance. |
Validating the Results | The final findings ensured incorporating finalize the purposes. Ultimately, the results of the DMA were validated by the EC and approved by the BoD. |
The DMA was performed under the coordination of the Finance Department in
collaboration with the General Secretariat, and with the support of an external
consultant. For the assessment, internal experts from different departments were
involved. The results were acknowledged by the Sustainability Committee - ESG,
validated by the EC and approved by BoD. The monitoring and control over the DMA
process was ensured by the responsible departments in charge of this process.
Various data sources were used throughout the analysis. External sources included the
UNEP-FI Impact Radar database for identifying impacts, SASB standards (SASB
Consumer Finance, SASB Commercial Banks), as well as the Global Reporting Initiative
(GRI) Standards when identifying risks and opportunities. Internal sources of
IRO 1-53
b
information used included the BES performed in 2024 and stakeholder consultation
performed for the previous sustainability reporting cycle.
Identification of Potential and Actual Impacts on People and the Environment
To identify potential and actual impacts on people and the environment, BRD Group
conducted an analysis of the context in which it operates. This process involved a review
of various internal documents (i.e., business strategy, portfolio composition, product
offering, ESG rating, etc.) to gather relevant information on the BRD Group’s primary
business lines – retail and non-retail – across entities from BRD Group. For each business
line, specific aspects related to key products and services were examined, considering
their volume and relative contribution within the respective business segments.
Emphasis was placed on the banking activities, given their substantial share in the
overall BRD Group operations, accounting for nearly 94% of the BRD Group’s total
activities. To ensure a detailed assessment, multiple internal sources were analysed to
gain insights into the fundamental elements of BRD Group’s own operations.
Additionally, feedback from key stakeholders (see ESRS 2-SBM-2.45a)—gathered
through various communication channels (i.e. employee satisfaction survey, customer
satisfaction survey, whistleblowing channels, complaints channels available for
employees and customers, previous stakeholder engagement, etc.) available at BRD
Group level—was carefully analysed to capture external perspectives and expectations
related to BRD Group’s sustainability impacts. To complete the analysis, information
related to business relationships along the value chain were also included in the
analysis. The assessment also incorporated an evaluation of business relationships
along the value chain, with a focus on BRD’s participations in other companies where
operational control is not exercised.
Based on the information collected during the analysis, the potentially relevant impacts
were identified along BRD Group’s value chain: upstream, own operations and
downstream.
To identify the potentially relevant impacts related to Upstream and Own Operations
value chain, BRD Group conducted an analysis of key operation aspects, including the
ownership of buildings, IT equipment, car fleet, and direct resource consumption. These
elements were carefully evaluated to determine their environmental and social
implications within the BRD Group’s direct operations. Additionally, was analysed
information related to supplier relationships to identify potentially relevant impacts
arising from how BRD Group manages the relationship with its suppliers. For upstream
and own operations impacts, BRD Group used the GRI Standards as a reference,
leveraging their comprehensive approach to environmental and social impact
assessment.
Regarding downstream impacts associated with the BRD Group’s portfolio, a detailed
examination of BRD Group’s exposures to various economic sectors was undertaken. In
this context, the non-retail banking portfolio was analysed to identify significant
sectoral exposures that could be linked to material sustainability impacts. For the retail
banking activities, the assessment considered key products and services to evaluate
their potential social and environmental effects. Similarly, based on internal
evaluations, BRD Group identified the primary sectors financed (i.e. agriculture,
transport of goods, construction, etc.) including through its leasing and asset
management activities to ensure a clear understanding of downstream sustainability
impacts. For joint ventures and associates, the potentially relevant impacts were
identified primarily based on the nature of their business models and operations. Given
the complexity of the impact identification process, BRD Group adopted the UNEP
Impact Radar methodology as a reference for identifying impacts mainly related to
downstream activities and joint ventures and associates. This methodology was
selected for its interoperability with the ESRS framework, ensuring alignment with
reporting requirements and best practices.
Assessment and Prioritization of Potential and Actual Impacts on People and the
Environment
The identified potentially relevant impacts were systematically categorized according
to the ESRS framework, aligning them with the corresponding topics, sub-topics, and
sub-sub-topics as outlined in ESRS 1 AR16. This structured approach facilitated the
identification of a comprehensive list of relevant ESRS topics at various levels, ensuring
consistency with regulatory requirements. Furthermore, the impacts associated with
the identified relevant topics, sub-topics and sub-sub-topics were thoroughly assessed
following the guidelines provided by ESRS 1, enabling a detailed evaluation of their
significance and potential implications. The relevant impacts were assessed along the
entire value chain and across the relevant time-horizon (short-term, medium-term and
long-term). For this assessment, the same definitions for the time-horizons indicated
within ESRS 1 were adopted. Positive and negative impacts were assessed separately in
relation to the specific segments of the value chain to which they pertain.
To ensure a thorough and standardized evaluation, the assessment process
incorporated the key variables outlined in ESRS 1:
-
environment;
-
-
effects can be mitigated or reversed; and
-
For the assessment of positive actual impacts, the scale and scope were considered,
whereas for potential positive impacts, the analysis also incorporated the likelihood
factor. Similarly, the evaluation of actual negative impacts was based on the scale,
scope, and the irremediable character of the impact, while the assessment of potential
IRO 1-53
c
negative impacts included all four variables -scale, scope, irremediable character and
likelihood. In cases related to human rights, severity was prioritized over likelihood. In
this case, only variables related to severity were assessed. Each variable was assessed
on a scale of six points (0-5). To assign the score, a specific methodology was developed
to ensure consistency during the assessment. The assessment was conducted by the
BRD Group team in charge for this activity with the support of an external consultant.
In the assessment were involved also internal experts that have specific knowledge on
the different topics and the related impacts. In this sense, dedicated meetings were
organized with the internal experts to evaluate the relevant impacts. To identify
material impacts, a threshold was established: an impact was considered material if it
received a final score of at least 2.5. For further details on the identified material
impacts, please refer to the disclosure ESRS 2-SBM-3.
Monitoring of Potential and Actual Impacts on People and the Environment
The material impacts identified were internally validated by the Sustainability
Committee - ESG and Executive Committee and then approved by the Board of
Directors. To ensure continuous oversight and support data-driven decision-making,
BRD Group will systematically track and evaluate its material sustainability-related
impacts over time, aiming to mitigate negative effects and enhance positive
contributions. The monitoring will primarily include periodic reviews to adapt to
evolving stakeholder expectations and regulatory requirements; stakeholder
engagement mechanisms to gather ongoing feedback on sustainability impacts and
assess the effectiveness of mitigation measures;
regular internal audits and ESG
performance evaluations to ensure compliance with sustainability policies and identify
areas for continuous improvement.
For this exercise, specific consultations with affected stakeholders were not conducted.
Instead, the analysis relied on previous stakeholder consultations carried out by BRD
Group, as well as feedback gathered through various communication channels available
at BRD Group level (refer to disclosures under SBM2).
Identification of Risks and Opportunities
The process for identifying risks and opportunities closely mirrored the approach used
to gain insights into BRD Group’s business context (see information reported under ESRS
2-IRO-1.53b). The collected data was integrated with insights from BRD Group's 2024
BES, as well as relevant information from other international sustainability reporting
standards (SASB and GRI Standards). The BES was conducted at the BRD Group level,
encompassing BRD, BRD Sogelease, and BRD Asset Management. This analysis provided
valuable insights into climate and environmental risks and opportunities. For risks
related to social and governance topics, BRD Group referred to the information outlined
in the SASB Standards for the financial sector and GRI Standards. Given that ESG risks
IRO 1-53
e
are analysed at an aggregated level within BRD Group's general risk management
framework, the information provided by the internal risk management process lacked
the necessary granularity for this analysis. The identification of the risks and
opportunities took in consideration, where applicable, the connection with identified
impacts. No dependencies were identified during the analysis, having in view the main
activities of BRD Group.
Assessment and Prioritization of Risks and Opportunities
The identified risks and opportunities were systematically categorized according to the
ESRS framework, aligning them with the corresponding topics, sub-topics and sub-sub-
topics as outlined in ESRS 1 AR16. The risks and opportunities were assessed following
the guidelines provided by ESRS 1, enabling an evaluation of their financial impact on
the BRD Group performance. The risks and opportunities were assessed separately and
across the relevant time-horizon (short-term, medium-term and long-term). For this
assessment, were adopted the same definitions for the time-horizons indicated within
ESRS 1. The assessment process incorporated the key variables outlined in ESRS 1:
likelihood of occurrence and the potential magnitude of the financial effects. Likelihood
of occurrence was assessed on a scale from 0-5 in line with the impact materiality
assessment. The magnitude of the financial effects was assessed on a scale of four
points (0-3). To assign the score, a specific guidance was developed to ensure
consistency during the assessment. The assessment was conducted by the BRD Group
team in charge for this activity with the support of an external consultant. In the
assessment were involved also internal experts that have specific knowledge on the
different topics and the related risks and opportunities. To identify material risks and
opportunities, a threshold was established: a risk or opportunity was considered
material if it received a final score of at least 1.5 on a scale of maximum 3 points. For
further details on the identified material risk and opportunities, please refer to the
disclosure ESRS 2-SBM-3.
Monitoring of Risks and Opportunities
The material risks and opportunities identified were internally validated by the
Sustainability Committee - ESG and Executive Committee and then approved by the
Board of Directors. To ensure continuous oversight and support data -driven decision-
making, BRD Group will systematically track and evaluate its material sustainability-
related risks and opportunities over time, aiming to mitigate negative effects and
enhance positive contributions. The monitoring will primarily include periodic reviews
to adapt to evolving stakeholder expectations, regulatory requirements and market
dynamics; stakeholder engagement mechanisms to assess the effectiveness of risk
mitigation measures and capitalize on emerging opportunities;
integration with the BES;
E1-IRO
1-20 a
regular internal audits and ESG performance evaluations to ensure compliance with
sustainability policies and identify areas for continuous improvement.
Integration in the Risk Management Process
At BRD Group, the processes for identifying, assessing and managing sustainability-
related impacts, risks and opportunities are integrated into the overall risk management
and strategic management processes. These processes are primarily driven by the
double materiality assessment and BES, which enable BRD to evaluate both financial
and non-financial aspects of sustainability risks and opportunities across its value chain.
The Risk Management Function is responsible for overseeing these processes
independently from operational and support structures, ensuring objective evaluation
and alignment with the Bank's strategic goals. The Deputy CEO in charge of Risk (Chief
Risk Officer) leads the centralized risk management function and reports findings,
conclusions and recommendations to the Management Body and relevant committees,
ensuring that sustainability-related risks and opportunities are considered into decision-
making. Sustainability risks, such as climate change adaptation and mitigation,
regulatory compliance and financial impacts of environmental policies, are assessed
within BRD Group’s overall risk framework, allowing BRD Group to anticipate potential
disruptions, financial strain and reputational impacts while aligning with regulatory
requirements such as CSRD and the EU Taxonomy.
The integration process is further reinforced by a Level 2 control structure, which
ensures the efficiency of the internal control system by assessing the adequacy of Level
1 control measures. This structure plays an important role in evaluating whether
sustainability risks and opportunities are effectively monitored and addressed within
BRD Group’s activities and operations. It ensures that the first line of defense has
adequately identified operational risks and anomalies, implemented corrective actions
and adapted processes to address emerging sustainability challenges and market
demands.
On the opportunity side, BRD Group incorporates sustainability-driven growth
prospects into its broader management processes. Identified opportunities—such as
financing renewable energy projects, supporting the transition of high-carbon sectors
and expanding ESG-focused financial products—are assessed for their strategic and
financial viability. These opportunities are actively integrated into BRD Group’s business
planning, investment strategies and client offerings.
Process to Identify Material Impacts, Risks and Opportunities related to
Environmental Matters
E1-IRO
1-20 b
E1-IRO
1-21 c
Climate Change
The identification of climate-related impacts was conducted in alignment with the
double materiality process outlined in ESRS 2-IRO-1.53. This analysis encompassed the
entire value chain of BRD Group, including upstream and downstream activities.
Impacts related to Greenhouse Gas (GHG) emissions were deemed material across
upstream, own operations and downstream value chains due to their contribution to
global GHG emissions and the resultant negative effects on climate change. For
upstream and own operations, the assessment focused on the primary direct and
indirect activities contributing to GHG emissions. Detailed information on these
emission sources can be found in the disclosure E1-6.
The analysis also considered the climate -related impacts associated with BRD Group's
portfolio, evaluating sectoral exposures and their potential contributions to climate
change. Given the unavailability of specific data on financed emissions at the time of
the assessment, the analysis relied on the types of economic activities financed by BRD
Group to gauge their potential climate impact.
In addition to identifying negative impacts, the analysis highlighted BRD Group's
positive climate contributions. These include financing renewable energy projects,
promoting the adoption of clean energy technologies and supporting the transition to
green technologies through tailored financial products. For further details on the
identified material impacts, please refer to the disclosure ESRS 2-SBM-3.48.
The results of the analysis are expected to improve in future reporting cycles, as data
related to financed emissions will become available and allow for more accurate
assessments based on concrete data.
The identification of climate -related physical risks was conducted through the BES at
BRD Group level. This process encompassed an analysis of climate-related hazards over
the short, medium and long-term, evaluating their potential impact on BRD Group’s
operations, as well as its upstream and downstream value chain. The short, medium,
and long-term horizons were defined in alignment with BRD Group’s strategic planning
cycles, capital allocation plans and the expected lifetime of its assets, ensuring a
forward-looking approach to risk assessment.
Key hazards identified include droughts, floods and increased temperatures, with
particular focus on regions in Romania already experiencing these impacts, such as the
eastern and south-eastern regions. These hazards were assessed for their potential to
disrupt operations in sectors such as Agriculture, Energy, Real Estate and Automotive.
High-emission climate scenarios were not used as part of this analysis. However, the
BES provided sufficient insights into potential risks by leveraging sectoral and regional
climate data as well as internal expert reviews.
E2-IRO
1-11
The analysis revealed that BRD Group’s portfolio is moderately exposed to physical risks,
particularly through its mortgage portfolio and agricultural lending. For the mortgage
portfolio, physical risks such as floods and landslides were identified. In agriculture,
drought and extreme weather conditions pose risks to loan performance and land
productivity. To mitigate these risks, BRD Group has excluded financing for lands located
in flood-prone areas and plans to develop drought mapping to further refine its
exposure assessment. The sensitivity of these sectors to physical risks underscores the
need for resilient infrastructure investments and financing for climate-adaptive
practices, such as irrigation systems or drought-resistant crops.
BRD Group identified key transition risks and opportunities through the BES, focusing
on sectors such as Energy, Construction, Automotive, Real Estate and Agriculture. The
assessment considered climate-related transition events over the short, medium and
long-term, evaluating their potential impact on BRD Group’s activities. The climate-
related transition events were also analysed considering their potential duration and
magnitude.
Transition risks include new policy and regulatory constraints (e.g., "Fit for 55"
regulations, Integrated National Energy and Climate Plan 2021-2030) and technological
advancements requiring companies to decarbonize operations. While a 1.5°C scenario
was not explicitly used in the analysis, the identified risks are consistent with this target,
as they account for changes in demand for high-emission goods, increased production
costs, and the potential for stranded assets in sectors like fossil fuels and heavy industry.
The analysis highlighted opportunities such as financing renewable energy projects,
green technologies and sustainable building materials to support clients’
decarbonization efforts.
Transition risks were found to have significant implications for BRD Group’s Corporate
and Retail portfolios. In the Corporate segment, policy-driven changes are expected to
affect sectors like Construction and Energy, while technological advances create both
risks and opportunities for clients adapting to lower-emission production methods. BRD
Group supports these transitions by financing ESG/ green loans and sustainability-linked
loans. For Retail clients, regulatory requirements such as Energy Performance
Certificates (EPC) for real estate create risks for the mortgage portfolio but also offer
opportunities through green mortgage products like “Habitat Verde”. Across the value
chain, transition risks may lead to increased CAPEX/OPEX requirements, which could
negatively impact clients’ credit profiles. BRD Group mitigates these risks by focusing
on clients with sustainable business models and leveraging green financing products to
encourage decarbonization.
As BRD Group has not realized a transition plan in line with Paris Agreement’s
objectives, the analysis related to identification of activities that are incompatible with
or need significant efforts to be compatible with a transition to a climate-neutral
economy was not performed yet. These aspects will be carefully analyzed during the
realization of the transition plan.
E3-IRO
1-8
E4-IRO
1-17
Pollution
Pollution was identified as a sub-topic primarily relevant to the downstream value
chain, given that the most significant impacts, risks and opportunities are associated
with BRD Group’s financed portfolio. In contrast, BRD Group’s own operations and
upstream value chain, which are primarily connected to its role as a financial services
provider and credit institution, were assessed to have minimal or no significant
contribution to pollution of air, water and soil.
During the assessment, positive impacts to which BRD Group may contribute by
supporting projects aimed at reducing air and water pollution were identified.
Additionally, negative impacts related to the financing of activities and projects that
contribute to pollution of air, pollution of water, pollution of soil and pollution of living
organisms and food resources were identified. The analysis took in consideration
pollution-related risks impacting clients’ financial health and credit risk. Opportunities
were identified in relation to the financing of technologies and projects that positively
contribute to the reduction of pollution. Following the assessment, none of the impacts,
risks and opportunities resulted material. The result was also influenced by the limited
information available at the time the analysis was performed.
Water
Water was identified as a sub-topic primarily relevant to the downstream value chain,
given that the most significant impacts, risks and opportunities are associated with BRD
Group’s financed portfolio. Only water consumption was considered relevant for BRD
Group’s own operations and upstream value chain. During the analysis, were identified
mainly negative impacts related to the financing of water intensive companies,
especially in the manufacturing sector, and to the financing of other sectors that can
have negative effects on the quality of water through their water discharged. Key risks
identified included increased operational costs due to water scarcity, regulatory
pressures on water withdrawal and environmental risks such as leaks and spills affecting
water quality. Additionally, were identified opportunities related to blue financing both
at the level of the public and private sector. Following the assessment, none of the
impacts, risks and opportunities resulted material.
Biodiversity
Biodiversity has been identified as a relevant sub-topic within BRD Group's downstream
value chain, primarily due to significant impacts, risks, and opportunities associated
with its financed portfolio. BRD Group's direct operations are not located near
biodiversity-sensitive areas. The assessment identified potential negative impacts in
sectors such as real estate, agriculture, infrastructure, energy, and transportation.
Through the use of the DMA and BES analyses, BRD Group evaluated risks related to
habitat degradation, land-use changes, and ecosystem fragmentation, using sector-
specific assessments and location-based criteria.
E5-IRO
1-11
G1-IRO
1-6
Nature-related transition risks could increase operational or production costs as
businesses strive to balance efficiency with environmental sustainability. Sectors like
agriculture, real estate, and power generation may face fluctuations in water availability
and quality. Additionally, environmental factors could affect clients' loans repayment
behaviors. For instance, health impacts from pollution or water contamination could
affect individuals' ability to work, while broader macroeconomic consequences, such as
regional instability from environmental degradation, could raise living costs. However,
the likelihood of these events occurring in Romania is considered low and not materially
significant.
Potential dependencies on biodiversity were also examined, particularly in agriculture,
where soil health and ecosystem services are crucial for financial sustainability. The
analysis primarily focused on the effects of financed sectors on biodiversity. The
assessment concluded that none of the identified impacts, risks, or opportunities were
material, partly due to limited data available at the time. This topic will be reassessed
in the next reporting cycle as more information becomes available.
Resource Use and Circular Economy
The identification of impacts, risks and opportunities related to resource use and
circular economy followed the process outlined above (refer to ESRS 2-IRO-1.53a).
Resource inflows and waste were considered relevant both for upstream and own
operations, while resource outflows were considered relevant only for downstream
value chain. At upstream and own operations level, were mainly identified impacts
related to the consumption of paper and other resources that contribute to the
production of waste. Considering the type of BRD Group activities, the identified
relevant impacts were considered not material. At portfolio level, were identified
mainly impacts connected to specific sectors that use significant amounts of resources
generating waste. Also, were identified some positive impacts related to the capacity of
BRD Group to finance circular economy initiatives. The analysis took in consideration
also risks related to the financing of sectors of activities that can encounter growing
financial expenditure related to the proper management of waste. Following the
assessment, none of the impacts, risks and opportunities resulted material.
Business Conduct
The identification of impacts, risks and opportunities in relation to business conduct was
conducted in alignment with the double materiality process previously described. For
the scope of the analysis, were considered the main activities performed by BRD Group.
The impacts, risks and opportunities in relation to business conduct were analysed
mainly for the activities related to upstream and own operations. For further details on
the identified material impacts, risks and opportunities please refer to the disclosure
ESRS 2-SBM-3.48.
The double materiality assessment will be re-evaluated in a regular annual process.
including the due diligence process and engagement with stakeholders.
Material Impacts, Risks and Opportunities
SBM-3 48 a, h | The following information gives an opportunities that resulted from strategy and business model. In sustainability matter they relate to, the type of IRO, the position in the value chain and the relevant time horizon. |
Table 4 – Material Impacts, Risks and Opportunities
Sustainability Matter | Topics à sub- topic à sub- sub-topic | Type of IRO | IRO Description | Value chain | Time horizon |
E1-Climate change adaptation | Climate change à climate change adaptation | Risk | BRD faces a multifaceted array of risks across various sectors due to and the transition to a more sustainable economy. Rapid implementation of ESG products to strategic missteps if not matched market demand. Similarly, requirements may escalate, particularly sectors like agriculture and are highly susceptible to climate-induced hazards and require robust adaptation measures. The physical risks change, such as extreme weather significant threats to supply chains infrastructure, notably within the and construction industries, leading potential disruptions and These acute and chronic risks asset devaluation, stranded reputational damage if investments perceived as contributing vulnerable to environmental risks. For Group, increased operational environmental regulation compliance, and the transition to electric vehicles negatively impact clients' creditworthiness and repayment capacity. sector also faces heightened losses due to environmental could lead to financial instability and affect lending activities. | Downstream (Portfolio) | All |
E1-Climate change adaptation | Climate change à climate change adaptation | Opportunity | There is an opportunity to sustainability by financing increase climate resilience, encourage environmentally friendly agricultural practices, and facilitate the adoption carbon technologies across including automotive, construction, manufacturing. This encompasses investments in infrastructure vehicles, sustainable construction and enhancements to supply By offering customized for these initiatives, BRD can contribute the advancement of a more economy. | Downstream (Portfolio) | Medium- and long- term |
E1-Climate change mitigation | Climate mitigation à climate mitigation | Negative Impact/ actual | The impact may manifest through contribution to increased Scope and Scope 3 carbon emissions financed emissions) due to the renewable energy sources locations, and through the use | Own operations | Medium- and long- term |
Sustainability
Matter
Topics
à
sub-
topic
à
sub-
sub-topic
Type of IRO
IRO Description
Value chain
Time
horizon
powered vehicles within the security and cash
transportation activities, which could amplify
the negative environmental impact.
E1-Climate
change
mitigation
Climate
mitigation
à
climate
mitigation
Negative
Impact/
actual
The impact may manifest through a wide
range of sectoral activities that significantly
contribute to greenhouse gas emissions and
climate change. This includes the financing
of agricultural practices, construction
projects, and energy production that led to
increased GHG emissions, such as those in
the Extraction of natural gas, Electric power
generation, Transmission and distribution,
Manufacture of basic iron and steel sectors,
Oil and gas and Thermal coal. Transportation
activities, particularly in the Freight transport
by road and non-specialized wholesale trade
sectors, exacerbate emissions, especially
when relying on fossil fuel -powered vehicles.
Additionally, real estate developments under
the Real estate activities on a fee or contract
basis sector, as well as healthcare and public
administration facilities, contribute to the
carbon footprint through energy-consuming
processes. These cumulative emissions from
various industries and infrastructure
developments not only intensify the
greenhouse effect but also increase the risk of
natural disasters related to climate change.
Downstream
(Portfolio)
All
E1-Climate
change
mitigation
Climate
mitigation
à
climate
mitigation
Risk
In the face of stringent environmental
commitments and market evolution towards
sustainability, BRD Group is facing
significant climate change risks across
multiple sectors. BRD Group is at risk of
market share erosion if it fails to align its
product offerings with escalating ESG
demands, while an overly rapid deployment
of ESG products could misalign with client
demand, leading to strategic missteps.
Similarly, BRD Group may see a decline in
business due to the negative impacts of
climate change on the financial health of
clients in sectors such as agriculture, furniture
manufacturing, and road freight, where
scepticisms about the commercial viability of
battery electric vehicles (BEVs) and
increased operational costs due to
environmental regulations could hinder the
transition to sustainable practices.
Additionally, fiscal developments, such as
changes in VAT and reduced incentives for
green technologies, further exacerbate these
challenges.
Downstream
(Portfolio)
Medium-
and long-
term
E1-Climate
change
mitigation
Climate
mitigation
à
climate
mitigation
Opportunity
BRD Group is well-positioned to materialize
a wide range of sustainability initiatives by
offering tailored financing solutions that
support the transition to a greener economy.
Key opportunities include financing projects
in agriculture and construction that support
climate resilience, supporting the automotive
sector’s shift to electric vehicles and
alternative fuels, and aiding the construction
industry in adopting energy -efficient
technologies. Additionally, BRD Group
supports sustainable practices in agriculture,
furniture manufacturing, and road freight,
while promoting circular economy principles.
It also provides specialized financial products
like ESG and green loans, invests in
renewable energy solutions, and supports
consumer adoption of green technologies
through government subsidy programs.
Downstream
(Portfolio)
Medium-
and long-
term
Sustainability Matter | Topics à sub- topic à sub- sub-topic | Type of IRO | IRO Description | Value chain | Time horizon |
E1-Energy | Climate change à energy | Negative Impact/ actual | The impact may manifest through non-renewable energy sources effective measures to optimize consumption in the BRD Group's which can lead to an increased footprint and inefficient resource contributing to climate change. | Own operations | Medium- and long- term |
E1-Energy | Climate change à energy | Positive Impact/ potential | BRD Group’s financing projects supports the generation energy which is important net-zero. This shift helps mitigate climate change while promoting sustainable within the earth's natural boundaries. | Downstream (Portfolio) | Long- term |
E1-Energy | Climate change à energy | Negative Impact/ actual | By financing energy-intensive rely on fossil fuels can lead to a GHG emissions, which in turn aggravates climate change and its effects. | Downstream (Portfolio) | Long- term |
E1-Energy | Climate change à energy | Risk | BRD Group is navigating risks associated with the growing demand housing and the transition to green production. As energy efficiency priority, construction may rise, potentially impacting affordability and the demand loans. BRD Group also faces the challenge of collecting Certificates (EPCs) for both new mortgage loans, a process that could significant costs and affect if the cost-benefit analysis does widespread EPC acquisition. | Downstream (Portfolio) | Medium- and long- term |
E1-Energy | Climate change à energy | Opportunity | BRD Group plans to catalyse the transformation across various providing financial services growth of the green economy. can support the automotive towards electric vehicles, contributing comprehensive decarbonization clean energy, low-carbon power generation capitalizing on regulatory stability term financial agreements. | Downstream (Portfolio) | Medium- and long- term |
S1-Adequate wages | Own workforce à working conditions à adequate wages | Positive Impact/ potential | The impact may manifest through fair and competitive wages work performed and ensure a decent of living for employees. | Own operations | All |
S1-Freedom of association, the existence of works councils and the information, consultation and participation rights of workers | Own workforce à working conditions à Freedom of association, the existence of works councils and the information, consultation and participation rights of workers | Positive Impact/ actual | The impact may manifest through employees' rights to organize participate in decisions that concern through works councils and similar structures. | Own operations | All |
bargaining, including rate of workers covered by collective agreements | Own workforce à working conditions à Collective bargaining, including rate of workers covered by | Positive Impact/ actual | The impact may manifest through collective bargaining that ensures and working conditions for contributing to their retention | Own operations | All |
Sustainability
Matter
Topics
à
sub-
topic
à
sub-
sub-topic
Type of IRO
IRO Description
Value chain
Time
horizon
collective
agreements
S1-Health and
safety
Own
workforce
à
working
conditions
à
health and
safety
Positive
Impact/
actual
The impact can be seen in fostering a safe
and healthy work environment by promoting
mental well-being.
Own
operations
All
S1-Gender
equality and
equal pay for
work of equal
value
Own
workforce
à
Equal treatment
and
opportunities
for all
à
Gender equality
and equal pay
for work of
equal value
Negative
Impact/
actual
The impact may manifest through pay gaps
and unequal opportunities between
employees based on gender, leading to
discrimination and dissatisfaction among
staff.
Own
operations
Short-
and long-
term
S1-Training and
skills
development
Own
workforce
à
Equal treatment
and
opportunities
for all
à
Training and
skills
development
Positive
Impact/
actual
The impact may manifest through providing
continuous training and skills development
programs for employees, enhancing their
performance and market competitiveness.
Own
operations
Short-
and long-
term
S1-Training and
skills
development
Own
workforce
à
Equal treatment
and
opportunities
for all
à
Training and
skills
development
Risk
Inadequate training and education processes
can leave employees without the essential
skills and knowledge needed to perform their
roles effectively, leading to reduced
productivity and stifled innovation, ultimately
affecting the company’s financial
performance. This issue is particularly critical
given the skills required for successful
digitalization.
Own
Operations
Short-
and
medium-
term
S4-Privacy
Consumers and
end- users
à
Information-
related impacts
for consumers
and/or end-
users
à
Privacy
Risk
BRD Group faces significant risks associated
with the management of customer data
security amidst evolving external
cybersecurity threats. The responsibility to
safeguard customers' personal information,
including sensitive financial details, is
paramount. As banking operations
increasingly rely on mobile platforms and
cloud storage, the potential for security
breaches that could compromise personal
information, credit, and debit card data, and
expose customers to financial fraud and data
theft, escalates. These risks not only threaten
the financial integrity of customers but also
pose substantial legal and reputational risks
to the Bank, emphasizing the critical need for
robust cybersecurity measures and vigilant
data security management.
Own
operations
Short-
term
S4-Access to
(quality)
information
Consumers and
end- users
à
Information-
related impacts
for consumers
and/or end-
users
à
to (quality)
information
Risk
In the financial sector, access to clear and
quality information is crucial for maintaining
customer trust and brand reputation.
Ambiguities in policy terms, product details,
and sales practices can lead to brand damage,
legal disputes, and a reduction in the range of
services and products offered by entities like
BRD. Customers who are dissatisfied due to
misleading or unclear information may
reduce their engagement with the Bank's
products, leading to adverse financial
consequences. Conversely, entities that
ensure transparency in their policy terms and
provide products that are well-suited to their
customers can safeguard their brand
reputation, minimize regulatory scrutiny, and
Own
Operations
Short-
term
Sustainability
Matter
Topics
à
sub-
topic
à
sub-
sub-topic
Type of IRO
IRO Description
Value chain
Time
horizon
protect shareholder value. Additionally,
improper communication of Compliance &
Ethics (C&E) data and reports can result in
diminished investor interest, which could
negatively affect the funding and growth
prospects of BRD Group.
S4-Security of a
person
Consumers and
end- users
à
Information-
related impacts
for consumers
and/or end-
users
à
Security of a
person
Risk
BRD faces significant risks related to digital
security, which could compromise client
safety during online operations. Such
breaches may result in financial losses,
regulatory fines, and substantial reputational
damage.
Own
operations
Short-
term
S4-Access to
products and
services
Consumers and
end- users
à
Social inclusion
of consumers
and/or endusers
à
products and
services
Positive
Impact/
actual
The impact may manifest through initiatives
that contribute to improved access to
essential services such as healthcare and
housing, particularly in old age. This includes
providing life insurance policies that ensure
policyholders can cover medical expenses
upon retirement and help beneficiaries secure
financial stability for home ownership.
Additionally, the impact extends to
broadening the accessibility of the Bank's
products and services to all categories of
people, including vulnerable groups, by
adapting infrastructure, procedures, and
technologies to be more inclusive and user-
friendly.
Own
operations
Short-
and long-
term
S4- Sustainable
Finance
(Entity
Specific)
Positive
Impact/
potential
The impact may manifest through the
implementation of sustainable finance
practices that support renewable energy
projects, reducing greenhouse gas emissions,
protecting the environment, creating green
jobs, and improving livelihoods in local
communities.
Downstream
(Portfolio)
Medium-
and long-
term
S4-Sustainable
Finance
(Entity
Specific)
Opportunity
Several key opportunities, including issuing
green bonds to fund renewable energy
projects, expanding sustainable lending to
sectors like eco-friendly real estate and
agriculture, and developing ESG investment
products to meet growing demand.
Downstream
(Portfolio)
Medium-
term
G1-Corporate
culture
Business
conduct
à
Corporate
culture
Positive
Impact/
actual
The impact may manifest through the
promotion of an ethical and responsible
corporate culture that encourages integrity,
transparency, and respect in all operations
and interactions, contributing to a positive
working environment, considering the fact
the Bank is a Public Interest Entity and listed
on the Bucharest Stock Exchange .
Upstream &
Own
operations
Short and
long term
G1-Protection
of whistle-
blowers
Business
conduct
à
Protection of
whistle-blowers
Positive
Impact/
actual
The impact may manifest through the
implementation of effective whistle-blower
protection mechanisms, encouraging the
reporting of violations and ensuring their
protection from retaliation.
Upstream &
Own
operations
Short and
long term
G1-Prevention
and detection
including
training
Business
conduct
à
Business
conduct
à
Corruption and
bribery
à
Prevention and
detection
including
training
Positive
Impact/
potential
The impact may manifest through the
implementation of effective corruption
prevention and detection programs, including
continuous employee training, which fosters
a corporate culture based on integrity.
Upstream &
Own
operations
Short and
long term
SBM 3- 48 b SBM 3- 48 c | Current and anticipated effects of the material impacts, risks and opportunities on business model, value chain, strategy and decision-making BRD opportunities have processes. Thus, risks and opportunities by Group operational requirements while creating long-term value for stakeholders. BRD Group operations, regulatory requirements and evolving market demands. In addressing climate-related risks and opportunities, approach. Climate Change. In the environment equal pay and strengthening labor rights. Governance continuous enhanced initiatives to reinforce stakeholders’ BRD both people BRD construction, and energy production risks by Group's higher financial decisions economic hardships for different crop losses or businesses struggling to meet regulatory compliance costs. Conversely, impacts well-being. sustainable economy, Investments emissions resilience |
promoting fair wages, gender equality and financial inclusion, contribute to improved
living standards, enhanced workforce productivity and social cohesion.
The material impacts, risks, and opportunities (IROs) identified by BRD Group are
directly connected to and originate from its strategy and business model, which are
centered around providing financial services across various sectors. BRD Group’s core
business activities, such as lending and investment, inherently influence environmental
and social outcomes, both positively and negatively. For instance, the BRD Group's
financing of high-emission industries contributes to climate change through increased
GHG emissions. At the same time, BRD Group's strategic objectives on financing
sustainable projects, such as renewable energy and green infrastructure, demonstrates
how its business model actively seeks to mitigate these negative impacts while
capitalizing on opportunities arising from the transition to a low-carbon economy.
BRD Group's sustainability-driven strategy integrates climate resilience and energy
transition considerations, influencing how it structures its financial products and
partnerships. The development of Sustainability-Linked Loans (SLLs) and Sustainable
Positive Impact Financing (SPIF) directly aligns with its strategic objective to address
climate adaptation and mitigation challenges. Additionally, BRD Group’s emphasis on
energy-efficient housing and green mortgages reflects its response to the increasing
demand for sustainable solutions, which, while presenting compliance and operational
challenges, supports BRD Group’s long-term goal of sustainable growth. Moreover, BRD
Group’s commitment to employee well-being, diversity, and ethical governance
underscores the social dimension of its business model, ensuring that internal
operations and decision-making processes contribute positively to broader social
outcomes.
BRD Group's involvement with material impacts originates both from its direct activities
and its extensive business relationships across various sectors.
Through its own operations, BRD Group contributes to environmental and social
impacts, such as energy consumption and greenhouse gas emissions from its facilities
and fleet, as well as the working conditions and well-being of its employees. For
instance, the Bank's reliance on non-renewable energy sources and fossil fuel-powered
vehicles results in an increased carbon footprint, while efforts to ensure fair wages,
gender equality, and workplace safety demonstrate its commitment to social
responsibility.
In terms of business relationships, BRD Group's lending and investment activities
significantly influence environmental and social outcomes across industries like
agriculture, construction, energy production, and manufacturing. By financing sectors
with high environmental footprint, BRD Group is indirectly linked to negative impacts
such as increased greenhouse gas emissions and resource depletion. Conversely, BRD
Group also plays a critical role in driving positive impacts by financing renewable energy
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projects, energy-efficient housing, and sustainable infrastructure, which support the
transition to a low-carbon economy.
Current Financial Effects of Material Risks and Opportunities
For this first reporting cycle only a qualitative analysis was performed.
The current financial effects of material risks and opportunities on BRD Group's financial
position, financial performance and cash flows are estimated to be important, reflecting
the evolving sustainability landscape and regulatory pressures. Compliance with
evolving EU regulations such as CSRD and EU Taxonomy has resulted in increased
operational costs and investments in data collection and reporting infrastructure. From
a financial performance perspective, while BRD Group incurs regulatory and transition-
related costs, opportunities in sustainable finance—such as the financing of renewable
energy projects and climate-resilient infrastructure—are driving revenue diversification
and improving market positioning.
Cash flows have been affected by the need for upfront investments in sustainable
finance initiatives, operational energy efficiency measures, and enhanced risk
management capabilities. The definition of the transition plan until the publication of
2027 report may lead to adjustments of credit policies, particularly in sectors heavily
exposed to climate transition risks. Similarly, the revaluation of loan portfolios,
especially in fossil fuel-dependent industries and energy-intensive sectors, may lead to
potential impairments and revised credit risk assessments. Furthermore, BRD Group’s
ongoing shift towards sustainable finance products and the gradual phase-out of high-
carbon clients may influence the expected cash inflows and require strategic
reallocations of financial resources to ensure compliance with long-term sustainability
goals.
Anticipated Financial Effects of Material Risks and Opportunities
The financial implications stem from BRD Group’s exposure to climate change
adaptation and mitigation efforts, energy transition financing and social responsibility
initiatives.
Short-term Financial Effects:
In the short term, BRD Group expects increased operational costs related to compliance
with environmental regulations and ESG reporting requirements. The transition to
sustainable operations, including investments in energy-efficient infrastructure and
cybersecurity measures, may lead to higher capital expenditure. Additionally, the
demand for ESG -compliant financial products may initially result in misaligned market
demand, affecting revenue streams.
Medium-term Financial Effects:
Over the medium term, BRD Group's financial position is expected to improve as
sustainability-driven initiatives begin yielding returns. Investment in renewable energy
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projects, electric vehicle infrastructure and sustainable construction financing will likely
lead to portfolio diversification and enhanced market positioning. These investments
are expected to generate stable revenue streams through green loan products and
sustainability-linked financial services. However, credit risks associated with sectors
highly exposed to climate change impacts, such as agriculture and real estate, may
result in fluctuations in cash flow and potential provisioning for non-performing loans.
Long-term Financial Effects
:
In the long term, BRD Group anticipates a good financial performance driven by the
successful integration of sustainability principles into its core business model. BRD
Group expects to benefit from regulatory stability, reduced risk exposure and long-term
relationships with clients adopting green business models. Capital expenditures in
digitalization and sustainable finance solutions will support revenue growth and
operational efficiency. Furthermore, BRD Group's strategic focus on financial inclusion
and access to essential services, such as healthcare and housing, will expand its market
reach and drive long-term profitability. The transition to a greener economy is expected
to provide resilience against economic downturns and climate-related financial risks.
To support its sustainability strategy, BRD Group plans to allocate capital towards:
●
Expanding its portfolio of sustainable finance, including green loans and ESG-
compliant financial products
●
Upgrading its physical infrastructure to meet energy efficiency targets.
●
Investing in digitalization to enhance transparency and accessibility of financial
services.
To implement its strategic initiatives, BRD Group plans to secure funding through:
●
Continuous focus on stable retail deposits.
●
Retained earnings reinvestment to support sustainable growth initiatives.
●
Strategic partnerships with development banks and international financial
institutions.
●
Accessing Government programs and incentives related to climate action and
energy efficiency.
Resilience of the Strategy
BRD Group, in collaboration with SG, monitors the resilience of its strategy and business
model to material impacts and risks and how to capitalize on material opportunities.
Central to the monitoring process is undertaking a "Business Environment Scan" (BES),
which has been conducted on an annual basis since 2022.
The annual BES is undertaken to enable Management to obtain a comprehensive
understanding of the material Climate and Environmental (C&E) risks that may impact
the organization over a range of time horizons from the short- to long-term. The BES
process helps BRD Group identify:
26
commitments
●
Threats to the business model that arise from Climate Change and
Environmental risks.
●
Business opportunities from the economic transformation, client transitions,
and adaptive measures to mitigate climate - related physical risks.
BRD Group undertakes the BES to obtain a high-level understanding of vulnerabilities,
potential threats, and opportunities that may impact its business over the short- to
long-term time horizons. Using these insights, BRD Group then undertakes further
analysis as needed, such as with the risk materiality assessment in order to obtain more
granular data and in-depth understanding of its material impacts risks and
opportunities.
As part of BES, BRD Group analyses a wide range of sources of evidence including global
geo-political and macro-trends, existent and upcoming regulatory requirements,
stakeholder feedback and peer analysis. BRD Group also considers the impacts to its
business from physical events, driven by climate and other environmental change. By
monitoring and assessing a range of evidence in these areas, BRD Group can take
informed decisions and strategic action to support it moving towards becoming a net-
zero organization.
The outcomes of BES provide BRD Group with detailed information that help it decide
where further analysis is required or should be prioritized. For example:
●
Identified threats (if deemed relevant) are further evaluated in the risk
materiality assessment.
●
Identified opportunities (if deemed relevant) are considered in business
strategy and business planning.
These outcomes help inform the BRD Group’s strategy and its decarbonization process.
The BES is conducted across all BRD Group’s operations which help provide insights
across geographies, sectors and products that the Group should prioritize for action.
For example, following its most recent BES in 2024, BRD Group created an action plan
that it has already started to implement, such as taking actions to start exiting from
highly polluting businesses and shifting financing towards green and sustainable
activities for Corporates. Future initiatives are under discussion at BRD Group level, to
prioritize other actions on short, medium and long term, based on the elements
revealed by the Climate and Environmental analysis.
8.2. Environmental Information
Climate Change
This chapter includes details on the identified impacts, risks and opportunities (IROs) related to climate
change, as well as the corresponding policies, actions and targets. Furthermore, BRD Group’s overview
on the policies, measures and targets is also presented
.
Strategy
E1-1-17 | Transition Plan BRD climate currently adopting one within its report for 2027. of the transition process, ensuring that the plan will be comprehensive, actionable and aligned with both regulatory requirements and the broader strategic objectives of SG. BRD Group is of SG. SG has established sustainability goals/targets aligned with the goals of the Agreement and including decarbonization pathways. Developing a transition plan that is fully integrated Group’s sustainability objectives requires time and coordination. Moreover, Group considerations across all approached with diligence to is not excluded from the Paris Agreement Benchmarks. Although a formal transition plan is not yet sustainability initiatives that contribute to the transition process. These include: |
SBM 3-
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-
solutions such as Sustainability-Linked Loans (SLLs) and Project Investment
Financing (SPIF), focusing on renewable energy and energy efficiency projects.
-
sustainability support schemes and collaborating with energy efficiency solution
providers.
-
as transport decarbonization and circular economy transitions.
-
to implement sustainability-linked projects.
BRD Group is conducting internal assessments and stakeholder engagements to
evaluate the readiness of its portfolios for transition. This includes:
-
align them with NZBA commitments.
-
industries.
-
enhance ESG data management and reporting capabilities.
To conclude, BRD Group remains committed to adopting a robust transition plan by
2027 report publication. The focus in the next two years will be on:
-
-
journeys and gradually increasing the share of sustainable finance in the overall
portfolio.
-
development and implementation of the transition plan.
Climate-related Risks
BRD Group has identified different material climate-related risks that encompass both
physical risks and transition risks, reflecting the multifaceted challenges posed by
climate change.
For climate change adaptation, the risks are primarily climate-related physical risks, as
detailed in the previous Chapter General Disclosures, Section Double Materiality
Assessment Process.
For climate change mitigation, the risks are primarily climate -related transition risks.
These arise from the challenges of aligning with stricter environmental commitments,
market evolution towards sustainability and regulatory developments, as detailed in
the previous Chapter General Disclosures, Section Double Materiality Assessment
Process.
SBM 3-
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BRD Group’s Strategy Resilience to Climate Change
BRD Group recognizes the importance of assessing the resilience of its strategy and
business model in relation to climate change. While BRD Group does not currently
perform a formal climate scenario analysis or stress test to evaluate the impact of
climate change on its strategy, it conducts multiple recurring assessments to identify
material climate-related risks and their potential effects. The DMA, conducted annually,
provides insights into both physical and transition risks. Additionally, the BES exercis e,
performed annually, examines climate-related impacts on BRD’s key business
segments, including Corporate, Retail, Sovereign Bonds, BRD Asset Management and
BRD Sogelease. BRD Group also conducts an annual portfolio assessment of small
enterprises with a turnover below 7.5 million EUR to evaluate their exposure to climate-
related risks. Furthermore, the Industry Climate Vulnerability Indicators (ICVI) and
Corporate Climate Vulnerability Indicators (CCVI) offer insights into transition risks by
assessing sectoral vulnerabilities and corporate adaptation strategies. These analyses
highlight key physical risks, such as disruptions caused by extreme weather events in
industries like agriculture and construction, and transition risks, including regulatory
changes, increased operational costs, and shifting market demands for sustainable
products. For further information please refer to previous Chapter General Disclosures,
Section Material Impacts, Risks and Opportunities.
Impacts, risks and opportunities management
E1-2 E1-2-25 MDR-P- 65 a | Policies Related to Climate Change This section presents related to policies are designed to ensure an effective and structured approach material IROs management and compliance with regulatory requirements. SG Environmental and Social (E&S) General Principles The SG E&S activities, from the products and services it delivers. The SG Development contributions promoting responsible and innovative financial solutions, managing E&S risks linked the treaties and conventions, principles address |
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structured monitoring mechanisms, such as integrating E&S considerations into
decision-making processes, implementing risk management frameworks, and
conducting regular reporting via public documents like the Duty of Care Plan and the
Extra-Financial Performance Statement. This policy covers all the climate change
related to material IROs identified during the double materiality analysis, therefore
addressing climate change mitigation, climate change adaptation, energy efficiency and
renewable energy deployment. No other areas are explicitly addressed by this policy.
The SG E&S General Principles are updated in line with regulatory, scientific or societal
developments, observed best practices and the SG Group’s strategy.
The SG E&S General Principles apply to:
●
●
asset management.
●
significant E&S impacts.
Exclusions are not explicitly stated but may be outlined in sector-specific policies, where
relevant. Upstream value chain and affected stakeholders do not explicitly fall under
the scope of this policy.
At SG, the most senior level accountable for policy implementation is the Group
Responsible Commitments Committee (CORESP), chaired by the Deputy Chief Executive
Officer overseeing control functions. This committee includes senior executives from
Compliance, Risk, Communications, CSR departments and relevant Business Units. At
BRD Group, the most senior level that is accountable for the implementation of the
overall general policy is the EC.
SG Group commits to several third-party standards and initiatives, including Universal
Declaration of Human Rights (UDHR), International Labour Organization (ILO)
conventions, United Nations Sustainable Development Goals (UN SDGs), OECD
Guidelines for Multinational Enterprises, Equator Principles, United Nations Principles
for Responsible Banking, UN Global Compact. These commitments guide the SG Group's
risk assessment and operational frameworks.
In setting the principles, the SG Group has considered the interests of key stakeholders
such as employees, investors, regulatory bodies, clients and civil society organizations.
SG engages in regular (annual or ad hoc as needed) dialogue, internal inquiries, and
documented responses to stakeholder concerns related to E&S issues.
The E&S General Principles are made publicly available on the SG Group’s website. The
Group ensures stakeholders, including clients, employees, and civil society
organizations, can access these principles.
SG E&S sectoral policies
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The SG Group E&S sectoral policies referred to as E&S policies, define the standards that
the SG Group intends to implement in potentially sensitive sectors from an E&S or ethics
perspective, based on its mapping of actual or potential E&S risks. They cover Industrial
Agriculture and Forestry, Dams and Hydropower, Thermal Power, Thermal Coal,
Defense and Security, Mining, Shipping, Civil Nuclear Power, Oil and Gas, Tobacco. The
Oil & Gas sector policy was updated in 2023 to reflect the SG Group’s new
commitments. The SG Group has also adopted a new tobacco sector policy which
indicate that the SG Group will not provide banking and financial products and services
to tobacco producers that generate more than 25% of their income streams from
tobacco products. All SG E&S policies follow the same structure: they identify the actual
or potential E&S risk factors, list the reference standards applicable to the sector or field
in question, specify the scope of the activities covered (sub-sectors, financial and
banking products and services) and may also define criteria in respect of each sector or
field. These policies cover all the climate change related material IROs identified during
the double materiality analysis, therefore addressing climate change mitigation, climate
change adaptation, energy efficiency and renewable energy deployment. No other
areas are explicitly addressed by these policies.
The E&S sector policies define 3 sets of criteria:
i.
Group's activities certain types of corporate clients, issuers, banking or
financial products or specific services or transactions that are associated
with underlying practices or activities that are damaging the environment
and/or human rights to such an extent or in such a way that improvement
within a reasonable timeframe is not possible;
ii.
that require a targeted and systematic response as part of the assessment
process. If a client does not satisfy the assessment criteria, it must improve
its practices within a reasonable timeframe. This may require formal action
plans or the signing of contractual undertakings. For dedicated transactions
or projects, meeting the criteria is part of the project development phase;
iii.
additional risk factors related to a specific sector that also need to be
considered as part of the E&S assessment.
The policies are updated in line with regulatory, scientific or societal developments,
observed best practices and the SG’s strategy.
The sector policies apply to Société Générale and all consolidated companies over which
SG Group exercises exclusive control, including BRD Group. They apply to banking and
financial products and services provided by the Group. For more details please refer to
each policy that is available on the SG Group’s website: Industrial Agriculture and
Forestry, Dams and Hydropower, Thermal Power, Thermal Coal, Defense and Security,
Mining, Shipping, Civil Nuclear Power, Oil and Gas, Tobacco. Upstream value chain and
affected stakeholders do not explicitly fall under the scope of these policies.
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BRD Group adopted the sectorial policies of SG Group in a local normative document
which stipulates the applicability rules for each of the business sectors.
At BRD Group, the most senior level that is accountable for the implementation of the
policies is the EC.
Please refer to each sector policy, as indicated above, to understand which are the third-
party standards or initiatives SG Group and BRD Group commit to respect through the
implementation of these policies.
The policies consider the interests of key stakeholders, such as employees, investors,
regulatory bodies, clients, and civil society organizations, by ensuring compliance with
E&S regulations, engaging in stakeholder dialogue, and assessing potential social
impacts. The SG Group actively seeks to balance financial performance with stakeholder
concerns related to environmental sustainability and social responsibility.
The E&S policies are publicly available on the SG Group’s corporate website, “Our 10
sector-wide E&S policies”.
SG’s transversal statement on climate
SG’s Climate Policy aims to align its activities with the Paris Climate Agreement by
mitigating climate-related risks and supporting the transition to a low-carbon economy.
The policy addresses material risks, including transition risks from regulatory changes,
physical climate risks and litigation risks, while also exploring opportunities in
sustainable finance. SG manages these risks through its Environmental and Social (E&S)
Risk Management system, sector-specific policies and ongoing efforts to reduce
exposure to carbon-intensive industries. Climate -related risks are monitored through
governance structures such as the SG Group Risk Committee and the Responsible
Engagement Committee (CORESP). This policy covers all the climate change mitigation
and climate change adaptation related material IROs identified during the double
materiality analysis, Energy efficiency, renewable energy deployment or other areas are
not explicitly addressed by this policy.
The policy applies across the SG’s global operations - including BRD Group, covering key
sectors such as energy, transport, and forestry, which have significant climate impact.
It extends to financing, Asset Management, and insurance activities, ensuring a
comprehensive approach to climate risk management. In terms of geographies, this
policy is applicable everywhere BRD Group is active. Upstream value chain and affected
stakeholders are not explicitly covered by the scope of this policy.
At local level, BRD transposed this policy through internal normative document on
Sectorial Policies. In addition, the management of ESG risk is performed though an
internal system of ESG mandatory checks and instruments. The policy covers the
material IROs related to climate change mitigation and adaptation.
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The highest level of accountability for the implementation of the climate policy lies with
the SG’s General Management, with oversight provided by the Board of Directors.
Climate-related risks are incorporated into the SG Group’s overall risk management
framework and are monitored by the Group Risk Committee. Additionally, the
Responsible Engagement Committee (CORESP) oversees strategic decisions related to
climate action, such as the SG Group’s phased exit from coal financing and other key
environmental commitments.
At BRD level, the relevant committees are informed with the management bodies being
also informed. Depending on the value, transactions can be approved by either the
Executive Committee or the BoD.
SG aligns its climate policy with several internationally recognized third-party standards
and initiatives. This climate policy has also been transposed locally at BRD Group level.
These include the United Nations Environment Programme Finance Initiative (UNEP-FI)
Principles for Responsible Banking, the Taskforce for Climate-related Financial
Disclosure (TCFD), the Katowice Commitment, the Carbon Pricing Leadership Coalition,
the Climate Bond Initiative, the Poseidon Principles for responsible shipping, the Green
Bond Principles, and the Hydrogen Council. By adhering to these frameworks, the Group
ensures its climate strategy aligns with global best practices and industry standards.
The development of the Group’s climate policy considers the interests of key
stakeholders, including clients, investors, regulators, and industry bodies. Société
Générale actively participates in trade associations such as the French Banking
Federation and the European Banking Federation to advocate for sustainable finance
regulations. Furthermore, the SG Group joined the Green Recovery Alliance, recognizing
the importance of aligning economic recovery initiatives with environmental
sustainability, demonstrating its commitment to balancing financial growth with
climate responsibility.
The policy is available on the SG Group’s website within the “SG Environmental and
Social General Principles
”.
Société Générale Positive Impact Financing Framework
The Sustainable and Positive Impact Framework aims to support activities that generate
positive environmental and social impacts while mitigating potential negative effects.
Its objectives are to align with the United Nations Sustainable Development Goals
(SDGs) and the Paris Agreement by financing sustainable projects. The framework
covers climate change mitigation and adaptation, social inclusion, and responsible
economic development. It establishes a rigorous monitoring process, including regular
impact assessments and transparent reporting to stakeholders. The implementation of
the policy is monitored through regular reporting. This framework covers all the climate
change related material IROs identified during the double materiality analysis, therefore
addressing climate change mitigation, climate change adaptation, energy efficiency and
renewable energy deployment. No other areas are explicitly addressed by this policy.
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This framework covers all the material IROs identified during the double materiality
analysis related to the above topics.
The framework applies globally to SG and its consolidated subsidiaries (including BRD
Group), covering a range of banking and financial products. It focuses on key sectors
such as renewable energy, low-carbon transport, green buildings, and social projects
related to healthcare, education and affordable housing. Exclusions include industries
such as tobacco, weapons and gambling, ensuring alignment with responsible
investment principles. In terms of geographies, this policy is applicable everywhere BRD
Group is active. Upstream value chain and affected stakeholders are not explicitly
covered by the scope of this policy.
The implementation of the framework is overseen at SG Group level by the Positive
Impact Bond Committee, chaired by Société Générale's Head of Group Treasury. This
committee is responsible for ensuring compliance, reviewing eligible activities and
fostering transparency through periodic reviews and disclosures.
At BRD level, the relevant committees are informed with the management bodies being
also informed. Depending on the value, transactions can be approved by either the
Executive Committee or the BoD.
The framework aligns with globally recognized standards, including the International
Capital Market Association's (ICMA) Green Bond Principles, Social Bond Principles, and
Sustainability Bond Guidelines. Additionally, it references the EU Green Bond Standard
and compliance with the EU Taxonomy, ensuring adherence to best practices in
sustainable finance.
The policy takes into account the interests of various stakeholders, including investors,
regulatory bodies, and civil society. SG actively engages with stakeholders through
dialogue, consultations, and alignment with international sustainability initiatives to
ensure its financing activities align with societal expectations and regulatory
requirements.
The framework is publicly available on SG’s website (20211104-societe-generale-
sustainable-and-positive-impact-bond-framework.pdf), ensuring transparency and
accessibility to all relevant stakeholders, including investors, clients, and regulators. SG
commits to regular updates and disclosures, including annual impact reports and
second-party opinions to validate compliance and performance.
Energy Efficiency
BRD Group does not have an energy efficiency policy as such.
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Actions Related to Climate Change Adaptation, Climate Change Mitigation and
Energy
BRD Group implements different actions to manage the material impacts, risks and
opportunities related to climate change mitigation, adaptation and energy, while
maximizing the positive material impacts associated with sustainable business
practices. To ensure effective management of these material impacts, risks and
opportunities, BRD Group allocates dedicated resources. These efforts are coordinated
by specialized teams within relevant departments, following established procedures
that include continuous monitoring, risk assessment and periodic reviews to align with
regulatory require ments and sustainability commitments. All actions listed below are
ongoing, namely they were both applicable for the reporting period and will continue
in the future. While the dependency of BRD Group’s ability to implement these actions
on the availability and allocation of financial or any other type of resources was not
explicitly determined, we took all necessary measures to ensure their implementation
in 2024 and are committed to continue to do so as long as these actions are in place.
The implementation of the actions listed below did not depend on any specific
preconditions. Current financial resources and FTE allocated to certain actions are
disclosed below. The allocation of future resources was not determined for any of the
actions.
Business plan for sustainable and positive impact financing (Downstream)
(Decarbonization lever and adaption solution: Focus on sustainable finance)
Climate change mitigation and adaptation
In 2024, BRD Group took important steps to promote sustainable finance and support
clients in their sustainability transition. The Group implemented a business plan for
sustainable and positive impact financing, contributing to the achievement of the policy
objectives and targets related to sustainable finance.
The objective of the plan is to mitigate actual and potential negative environmental or
social impacts, through supporting clients in aligning with sustainability goals.
Therefore, the transactions must drive an environmental or social benefit, thus an
impact analysis is carried out at the level of structuring the dedicated product or
transaction.
Impact assessments for sustainable finance could be based on a disclosed and
recognized methodology, made public by the corporate client in its official publications
or provided by a specialized third-party (like auditor or environmental & social
consultant). For sustainability-linked type of instruments, ESG rating provided by
recognized ESG rating agencies can be applied. In the event that a potential negative
impact is identified because of the implementation of a transaction, remedial actions
are required, or if justified, the transaction financing may be declined. Moreover, BRD
Group adheres to the SG 's E&S Sectoral Policies which prohibit transactions, products,
or services that are presumed to have a negative environmental or social impact and
are associated with sectors that SG considers sensitive.
The implementation of impact assessment frameworks ensures that financing activities
drive measurable positive outcomes, such as reduced carbon emissions, improved
energy efficiency and social inclusion. These efforts contribute directly to BRD Group’s
objectives (following SG Environmental and Social General Principles, SG Sector-wide
E&S policies, SG’s Transversal Statement on Climate, SG Positive Impact Financing Bond
Framework) of supporting sustainable economic growth and minimizing negative
environmental impacts.
In line with the plan, key actions included structuring financing solutions aligned with
the EU Green Deal, the National Recovery and Resilience Plan and the EU Circular
Economy Action Plan. The implementation of the SG Positive Impact Financing
Framework into local normative framework allowed for diversification of products and
services, covering a broad scope, encompassing large corporate clients, SMEs, and
public authorities across multiple sectors such as energy, transport, real estate, and
healthcare. The BRD Group's sustainable finance solutions target both upstream and
downstream value chain actors, offering tailored financing options to support
environmental and social impact projects. Geographically, these initiatives primarily
focus on BRD Group’s operational regions, with local implementation aligned with
European sustainability goals and global financial standards.
BRD Group has set clear time horizons for its sustainable finance initiatives. The Group
a had an initial target of EUR 1 billion in sustainable finance transactions by 2025,
which was already achieved in September 2024 and is now focused on achieving a new
target of EUR 2.4 billion by 2027, contributing to SG’s broader commitment to achieving
EUR 300 billion in sustainable finance transactions. Regular impact reporting and
monitoring continues throughout the implementation period to track progress against
these targets.
Current and expected GHG emission reductions could not be determined for this action,
given its complex nature. No significant monetary amount of Capex or Opex were
required to implement this action.
Looking forward, BRD Group aims to continue prioritizing energy efficiency, clean
mobility, green real estate, water treatment, agriculture and health projects while
enhancing its support for SMEs through more standardized financing solutions. It
continues to refine its methodologies and expand its sustainable finance offerings
based on lessons learned from prior periods.
27
Sustainable financing refers to financial transactions that generate environmental and/or social benefits, aligning with either
the Green & Sustainability Linked Loans Framework or the Green Financing Framework, and may include positive impact
financing (PIF), sustainability-linked loans (SLL), and other specialized loans like blue or gender loans. Sustainable financing
encompasses green or social loans used to finance or refinance eligible Green/Social Projects, with methodologies and criteria
that are internally defined and distinct from the EU Taxonomy's criteria, being less stringent than those in the EU Taxonomy.
Consequently, not all sustainable finance provided by BRD Group will meet the strict criteria for EU Taxonomy alignment and the
Sustainable Financing metric and target presented hereinafter in this report is an internal metric and must not be confused with
the Green Asset Ratio (GAR) KPI under the EU Taxonomy.
Corporate Climate Vulnerability Indicator (CCVI) (Downstream)
(Adaption solution: Identification of climate risk)
Climate change adaptation
In 2023, BRD Group adopted SG’s Corporate Climate Vulnerability Indicator (CCVI) to
enhance its assessment of climate transition risks across its entire portfolio, expanding
the tool's scope from an initial six sectors to all industry sectors. The CCVI evaluates the
marginal impact of transition risks on a borrower’s solvency by integrating an Industry
Climate Vulnerability Indicator (ICVI) and a borrower-specific assessment of climate-
related disclosures, targets and governance practices.
The implementation of the CCVI is not directly tied to the policies or targets disclosed
under this reporting but is rather expected to contribute to BRD Group’s sustainability
and risk management objectives by providing a comprehensive, forward-looking
assessment of climate transition risks. The outcomes include enhanced risk
identification across the value chain, improved engagement with clients on their
transition strategies, and better alignment with SG's broader climate goals, including
financing projects that support a net-zero transition. By leveraging the CCVI, BRD Group
aims to enhance portfolio resilience to climate risks, facilitate informed lending
decisions, and support clients in adopting credible and transparent climate strategies.
The scope of the CCVI implementation covers all industry sectors within BRD Group's
lending portfolio, except for financial activities. The CCVI evaluates key risk factors such
as emissions at risk, costs at risk, revenue at risk, and assets at risk, providing an
understanding of climate-related vulnerabilities. The initiative affects internal
stakeholders, including credit risk teams, relationship managers and sustainability
officers, and external stakeholders, such as corporate clients across various industries.
The scope of the CCVI does not explicitly cover the upstream value chain.
While the implementation of the CCVI itself does not directly result in material negative
impacts, BRD Group has taken proactive steps to support clients with negative CCVI
scores by offering tailored transition planning discussions and financing solutions. If a
client receives a significantly negative CCVI score, BRD Group initiates a structured
dialogue covering the client's transition strategy, business model adaptability, and
financial readiness to undertake necessary changes. The Bank provides guidance on
decarbonization pathways, facilitates access to green financing instruments and
collaborates with clients to develop actionable transition roadmaps. These efforts help
mitigate the risk of stranded assets, reputational damage and financial instability within
high-risk sectors while positioning clients for long-term sustainability.
During the reporting year, BRD implemented the CCVI across its lending portfolio,
conducted internal training for relationship managers and initiated client engagement
processes based on the findings. More precisely, as of December 2024, BRD Group has
conducted CCVI assessments for more than half of its client portfolio with Turnover >
EUR 5m, with annual reviews ensuring up-to-date risk evaluation. Qualitative progress
includes improved internal capacity, with 10 sessions of Client Climate Vulnerability
Indicator and RACI trainings organized with the participation of > 250 corporate
employees, and stronger alignment of credit policies with the Bank’s ESG strategy.
No significant monetary amount of Capex or Opex were required to implement this
action.
The CCVI assessment is conducted annually, synchronized with the internal credit rating
review cycle to ensure continuous monitoring and improvement. Future milestones
include refining the CCVI methodology, deepening client engagement based on
assessment results, improving data collection methodologies and integrating climate
risk considerations further into credit risk assessments and decision-making processes.
BRD Group aims to leverage CCVI outputs in scenario analysis and stress testing
activities over the medium to long term, aligning with the bank's broader sustainability
and climate action roadmap.
FDI BRD GLOBAL (Downstream)
(Decarbonization lever and adaption solution: Transforming into sustainable business)
Climate change mitigation and adaptation
In 2023, BRD Asset Management implemented key actions to transition FDI BRD
GLOBAL into a financial product aligned with Article 8 of EU Regulation 2019/2088
(SFDR), promoting environmental and social features. The Fund was structured to
incorporate ESG considerations by applying ESG scoring, exclusionary criteria and
continuous monitoring.
The Fund promotes environmental and social characteristics by constructing a portfolio
of equities and equity securities issued by ETFs with enhanced environmental, social
and governance (ESG) characteristics at the aggregate portfolio level. In order to
substantiate investment decisions, ESG analysis will be complementary to specific
evaluations from financial sector. In selecting ETFs and individual stocks, the Fund will
use ESG techniques such as „positive screening” or „exclusionary screening”, the use of
ESG scores from an external data provider (Morningstar), as well as exclusion lists and
identification lists to build a portfolio with improved environmental, social and
governance characteristics, with the aim of contributing to reducing ESG risks.
The key actions cover:
-
screening, and exclusion of non-compliant issuers.
-
and asset selection) and downstream (portfolio management and investor
reporting).
-
markets across various regions.
-
compliance and transparency.
To mitigate potential adverse environmental or social impacts, the Fund enforces strict
investment exclusion criteria based on BRD Group’s ESG policies and external
assessments. Investments in issuers associated with high ESG risks are prohibited, and
regular audits ensure compliance. If a holding is found to pose material risks, corrective
actions such as rebalancing or divestment are taken within a reasonable timeframe in
the best interest of investors.
The expected outcomes of these actions include:
-
characteristics, reducing exposure to environmental and social risks.
-
commitments and sustainability targets.
-
standards and delivering long-term value through responsible investments.
These actions are not meant to provide for the remedy for those harmed by actual
material impact, but rather to directly contribute to the policy objectives of promoting
sustainable finance and meeting EU regulatory requirements while supporting the
transition to a low-carbon economy.
Current and expected GHG emission reductions could not be determined for this action,
given its complex nature. No significant monetary amount of Capex or Opex were
required to implement this action.
The implementation of ESG screening measures, exclusion policies, and performance
monitoring was initiated in 2023 and will continue indefinitely. The Fund's portfolio is
monitored continuously, with rebalancing occurring as needed to maintain the targeted
ESG ratings. Since the implementation of the sustainability strategy in 2023, the Fund
has maintained its commitment to ESG principles, achieving a weighted average ESG
score above 3.5, in line with established targets. Permanent monitoring and exclusion
checks have been effectively integrated into portfolio management processes, with no
significant deviations from ESG investment criteria.
Planned actions for the future include further enhancement of ESG integration,
expansion of the investment universe to include more sustainable assets, continued
collaboration with ESG data providers to refine screening methodologies and reporting
practices
and enhanced transparency through improved reporting and stakeholder
engagement
.
Purchase 100% green energy (Own operations)
(Decarbonization lever: use of renewable energy)
Climate change mitigation
The scope of BRD Group’s transition to 100% green energy covers all operational
aspects, including corporate offices, branches and data centres. The initiative primarily
impacts the upstream value chain and own operations. Downstream value chain is not
covered by the scope of this action. Key stakeholders impacted by this transition include
employees, customers, regulators and local communities. This action does not address
the policies or targets disclosed in this report, but rather BRD Group’s commitment to
a
transition to a low-carbon economy.
BRD Group began this transition in 2021, and it remains an ongoing process, with a
target to fully integrate renewable energy across all operations by 2030. The
implementation is continuously monitored and progress is assessed through impact
tracking systems, enabling BRD to make data-driven adjustments as needed.
Although the transition to renewable energy primarily aims to prevent environmental
harm, BRD Group has established mechanisms to address any potential unintended
impacts. In case of operational disruptions or inefficiencies related to the energy
transition, the Group has implemented protocols to identify and mitigate risks, ensuring
business continuity and compliance with sustainability commitments. Furthermore,
BRD continues to engage with stakeholders to address concerns and adjust strategies
to maximize positive environmental and social outcomes.
Current and expected GHG emission reductions were not determined for this action.
No significant monetary amount of Capex or Opex were required to implement this
action.
In the reporting year, BRD Group reached 100% renewable electricity across all
operations where BRD has control over contracts by engaging with energy suppliers to
secure green energy contracts, ensuring that the electricity used in corporate offices,
branches and data centres is sourced from renewable sources. BRD Group has
dedicated internal resources to this transition, with an allocation of 3 Full-Time
Equivalents (FTE) to oversee implementation. BRD Group has already secured
renewable energy supply agreements and is actively working on the next phase of on-
site energy generation, specifically through the installation of solar panels on company-
owned buildings. Additionally, BRD Group intends to implement energy monitoring
systems to track consumption and assess the effectiveness of its sustainability efforts,
ensuring continuous improvement.
Electric Mobility – B&T Project (Own Operations)
(Decarbonization lever: electrification, fuel switching)
Climate change mitigation
In 2023, BRD Group initiated the deployment of electric vehicle (EV) charging
infrastructure as part of its broader electrification strategy aimed at reducing its carbon
footprint. The key actions undertaken included the installation of 3 high-power (120KW)
auto charging stations for clients in Timișoara, Sibiu, and Galați, as well as 5 monitored
(22KW) auto charging stations for employees at Headquarters, DC Berceni, Timișoara,
Cluj, and Iași. Additionally, the Bank established 18 charging stations dedicated to its
own fleet and implemented an electricity consumption monitoring system to separately
track the electricity used for EV charging from that used by the real estate facilities.
Thus the Bank ensures that both employees and clients have access to EV charging
facilities
These actions are expected to facilitate the transition to electric mobility, reduce the
Bank’s carbon footprint by displacing fossil fuel consumption, support employee and
client adoption of EVs, promoting sustainable transportation solutions. They do not
address the policies or targets disclosed in this report and
are not meant to provide for
the provision of remedy for those harmed by actual material impact but
contribute BRD Group’s commitment to a
transition to a low-carbon economy.
The implementation of EV charging stations covers internal operations, including fleet
management, employee benefits, and client services. Upstream and downstream value
chain are not addressed by the scope of these action. The key stakeholders involved
include BRD employees, clients, and the fleet management teams.
The installation of EV charging stations commenced in 2023 and is ongoing in
accordance with BRD Group’s objectives.
As of 2024, the charging stations at the BRD Tower headquarters alone consumed
40MWh of electricity, enabling an estimated 200,000 km of electric travel, which
effectively avoided the emission of 22 tones of CO
2
. Future emission reductions were
not determined.
In terms of resources, the implementation of this project involved a Capex investment
of EUR 46,000 (RON equiv. 228,809) and the allocation of 10 Full-Time Equivalents (FTE)
to manage the setup, operation, and monitoring of the charging stations. No significant
monetary amount of Opex was required to implement this action.
BRD car fleet greening program (Own operations)
(Decarbonization lever: fuel switch)
Climate change mitigation
The expected outcome of the car fleet greening program is a 50% reduction in fleet-
related greenhouse gas emissions by 2025 compared to the 2019 baseline, contributing
to BRD's broader decarbonization goals and to the GHG reduction target disclosed in
this report. This action does not address the policies disclosed in this report and
is not
meant to provide for the provision of remedy for those harmed by actual material
impact but
requirements, including the EU’s CO2 emission targets for passenger cars and light
commercial vehicles. The program also introduced CO2 monitoring tools, awareness
campaigns and driver training programs to promote eco-friendly driving behaviours
among employees.
The car fleet greening program covers all operational vehicles across BRD Group’s
headquarters (HQ) and nationwide network (NW), involving employees who utilize fleet
cars for business purposes. It spans across the entire vehicle lifecycle, from
procurement and operational usage. The initiative's scope also includes stakeholders
such as leasing providers, fleet management services, regulatory bodies, and
employees, who are directly impacted through improved vehicle efficiency and lower
environmental impact. The program addresses upstream value chain elements such as
vehicle sourcing and procurement practices. The downstream value chain is not
explicitly covered by the scope of this action.
While the car fleet greening program is primarily focused on emissions reduction, BRD
Group has taken proactive measures to support employees in adapting to new driving
technologies and behaviours. This includes training programs on eco-driving best
practices, ensuring a smooth transition to electric and hybrid vehicles without
disruption to operational efficiency.
Since the program's inception in 2019, BRD Group has made progress, achieving a
steady reduction in fleet emissions through the phased replacement of internal
combustion engine (ICE) vehicles. In 2024, BRD Group advanced its car fleet greening
program, focusing on replacing conventional vehicles reaching the end of their
operational leasing contracts with lower-emission models, including battery electric
vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Therefore, as of 2024 end,
BRD Group has replaced a substantial portion of its fleet with lower-emission models.
Internal monitoring data indicates a reduction in fuel consumption and an improvement
in fleet efficiency, with ongoing awareness efforts resulting in greater employee
engagement.
Current and expected GHG emission reductions were not determined for this action.
No significant monetary amount of Capex or Opex were required to implement this
action.
BRD Group continues to track key performance indicators (KPIs) such as fleet
composition, emissions intensity and cost efficiency. Looking forward, BRD Group plans
to continue the fleet renewal strategy despite the reduction of government subsidies in
2025, explore additional budgetary allocations to support green fleet investments and
monitor potential adjustments in national eco-incentive policies that could impact BEV
adoption in the next years.
On-grid photovoltaic systems on BRD buildings (Own operations)
(Decarbonization lever: use of renewable energy)
Energy
The installation of the photovoltaic system covers several key aspects, including direct
energy generation and consumption for BRD Group’s operational needs. This initiative
primarily impacts the Group’s internal operations, enhancing energy efficiency across
its locations. Key stakeholder groups involved include BRD Group’s employees, energy
management teams. Upstream and downstream value chain are not explicitly covered
by the scope of this action.
The project commenced in 2023 and will continue until the end of 2025. By the end of
2024, over this period, BRD Group initiated and implemented the installation of on-grid
photovoltaic systems across 20 buildings, ensuring widespread coverage, with a total
installed capacity of 755 kWh, consisting of 1,556 solar panels. These systems are
designed to optimize energy consumption through integration with smart grids,
reducing wastage and enhancing overall energy efficiency.
The implementation of the photovoltaic systems is expected to:
-
conventional energy sources and lowering carbon emissions, thus contributing to the
GHG reduction target disclosed in this report.
-
BRD’s total electricity consumption, leading to cost savings and environmental
benefits.
-
mix and integrating renewable sources.
Post-implementation, ongoing monitoring and optimization efforts will ensure
maximum energy production efficiency and continued alignment with BRD Group’s
sustainability objectives. .This action does not address the policies disclosed in this
report, but rather BRD Group’s commitment to a transition to a low-carbon economy.
No material adverse impacts have been identified during the implementation of the
photo-voltaic systems. However, BRD Group remains committed to addressing any
potential concerns through stakeholder engagement, regular performance evaluations
and compliance with environmental regulations to mitigate any unforeseen issues.
As of 2024, the installed systems have achieved an estimated annual production
capacity of 858 MWh, contributing to a 4.5% reduction in BRD’s dependency on external
energy sources. This progress aligns with BRD Group’s previously disclosed
sustainability plans and demonstrates tangible improvements in energy efficiency and
carbon footprint reduction.
The implementation of this action required a Capex investment of 765,000 EUR (RON
equiv. 3,805,186) and 12 FTE. No significant monetary amount of Opex were required
to implement this action.
Replacement of equipment older than 10 years - Operational energy efficiency
(Decarbonization lever: energy or material efficiency and consumption reduction)
Energy
In 2023-2024, BRD Group implemented an extensive equipment modernization
program aimed at improving energy efficiency and reducing environmental impact. Key
actions include:
-
efficient VRV/VRF systems (Variable Refrigerant Flow) across 140 branches. These
systems serve dual purposes—heating and cooling—while significantly improving
energy efficiency.
-
compliance with the European ErP Directive, to replace older, less efficient models.
-
temperatures to ensure operational reliability while leveraging renewable electricity
sources whenever possible.
-
(Scope 2), which can be sourced from renewable energy.
The equipment replacement initiative covers different areas, including energy
management, operational infrastructure and facility upgrades. The focus is on
improving internal operations within the BRD Group's facilities. This program targets
140 branches across Romania, specifically focusing on the colder regions for the
installation of condensing boilers to improve energy efficiency. Key stakeholder groups
involved include BRD employees (particularly those in facility teams), clients (ensuring
a comfortable branch experience) and energy providers (electricity and heating
suppliers). Upstream value chain is not explicitly covered by the scope of this action.
No material adverse impacts have been reported related to the replacement process.
However, BRD Group remains committed to addressing potential issues by ensuring
proper installation, maintenance and stakeholder communication. A backup solution
(gas boilers) is maintained in critical locations to prevent service interruptions during
extremely low temperatures.
This action does not address the policies disclosed in this report, but rather BRD Group’s
commitment to a transition to a low-carbon economy.
The initiative aims to achieve the following:
-
of performance (COP) greater than 5, meaning that for every 1 kW of electricity
consumed, they generate 5 kW of heating or cooling energy. Condensing boilers
also offer improved thermal efficiency of 92-95% compared to traditional models
(85%).
-
efficient systems helps lower overall consumption, contributing to BRD Group’s
decarbonization targets and sustainability objectives. This action is directly tied to
the GHG reduction target disclosed in this report.
-
the use of electricity, BRD aims to move its emissions from Scope 1 (direct
emissions) to Scope 2 (indirect emissions), which can be mitigated through
renewable energy.
-
European ErP Directive requirements, demonstrating BRD’s commitment to
regulatory adherence and environmental responsibility.
As of 2024, BRD Group has successfully replaced HVAC systems in 140 branches and
installed condensing boilers in 35 branches, leading to enhanced operational efficiency
and important reduction in energy consumption. These upgrades resulted in a total
reduction of 2,000 MWh of energy, 32,343 kg of CO2 emissions annually and 348,000
EUR in energy savings per year. The implementation of these actions required a total
Capex investment of 1,450,000 EUR (RON equiv. 7,212,445) , with the allocation of 24
FTE from internal resources. No significant monetary amount of Opex were required to
implement this action.
Future plans include further expansion of the VRV/VRF system rollout across additional
branches and continuous upgrades to heating solutions to meet evolving efficiency
standards. Further evaluations will be conducted to identify additional replacement
needs and future expansion opportunities in line with BRD’s long-term sustainability
strategy
Green IT Program (Own Operations)_
(Decarbonization lever: energy or material efficiency and consumption reduction)
Energy
The Green IT program, launched at SG level and implemented within BRD Group as well,
directly contributes to BRD Group’s sustainability and policy objectives by significantly
reducing the environmental impact of IT operations while maintaining high service
quality. It aims to reduce greenhouse gas emissions generated by IT activities with 50%
by 2025, thus contributing to the GHG reduction target disclosed in this report.
This action does not address the policies disclosed in this report and
is not meant to
provide for the provision of remedy for those harmed by actual material impact but
rather contribute BRD Group’s commitment to a
transition to a low-carbon economy.
Implementing energy-efficient technologies, such as server virtualization and HVAC
optimization, is expected to reduce energy consumption by approximately 1,000 MWh,
equating to an estimated 400 tCO2 reduction by the end of 2025. The adoption of
remote working policies, with employees working from home up to four days per week,
helps minimize emissions related to daily commuting and energy use in office buildings.
Additionally, workplace asset optimization, including reducing the number of printers,
monitors and workstations, contributes to lower energy consumption and cost savings.
The scope of BRD Group's Green IT initiatives spans across its entire value chain,
including upstream activities related to procurement and sourcing of IT equipment, and
downstream activities related to IT service delivery and operations. Internally, the
program covers data centres, branch offices, corporate headquarters and remote
working environments, affecting a broad range of stakeholders such as IT employees,
operational teams and management. The program impacts external stakeholders
through partnerships with waste management organizations, such as Ateliere Fără
Frontiere, which facilitates the responsible recycling and refurbishment of IT
equipment. Geographically, the actions cover all BRD operations across Romania,
including urban and rural branch locations. The program also involves cross-functional
collaboration with SG Group's global sustainability initiatives, ensuring alignment with
international standards and best practices for IT-related environmental performance.
BRD Group’s Green IT Program is structured within a clear timeline to ensure
measurable progress toward sustainability goals. The program's initial phase started in
2019, focusing on early actions such as IT infrastructure optimization and employee
awareness programs. Ongoing initiatives, such as server virtualization, printer fleet
reductions, and HVAC optimizations, are expected to reach completion by the end of
2025. The CSR Guide and CO2 Simulator tools were introduced in 2024, with
implementation expected to be fully integrated into IT project lifecycles in the coming
years. Remote work policies, introduced in 2021, continue to be in place. Future
initiatives, such as further data centre energy efficiency improvements and the rollout
of solar panel installations, are targeted for completion by H2 2025, ensuring
continuous progress toward BRD’s emissions reduction targets.
In the reporting year, BRD Group has implemented several initiatives under the Green
IT Program, achieving good progress toward the targets. Actions taken include
extensive employee training programs such as Sustainable IT Awareness and CSR in IT
Projects, with 87% of IT staff trained to date. Additionally, the first Sustainability Talks
session was organized in August 2024, focusing on responsible IT practices. BRD Group
has also introduced strategic tools such as the CSR Guide, which helps project managers
embed sustainability into IT project lifecycles, and the CO2 Simulator, which estimates
the carbon footprint of IT projects from inception to production. Infrastructure
optimization efforts continue, including the virtualization of servers, reducing physical
hardware by 37% from 2019 to 2024 (decreasing from 650 in 2019 to 470 by end-2024),
and the installation of solar panels in data centers to further cut emissions. Workplace
asset optimization initiatives, such as printer fleet and workstation reductions, are
ongoing, with notable reductions already achieved: 39% reduction in the printer fleet,
with a total decrease of 1,836 units, and workstation decommissioning by 58%,
removing 1,300 thin clients and workstations from operations. Air conditioning
replacement efforts across 100 agencies have further contributed to energy savings.
These achievements reflect BRD’s commitment to continuous improvement and
transparency in reducing its IT-related carbon footprint. Future plans include extending
these initiatives by further optimizing data center operations, increasing energy
efficiency, and expanding sustainable sourcing practices across IT operations.
No significant monetary amounts were required to implement this action.
Metrics and Targets
MDR-T
E-1-4
Established Targets Related to Climate Change
Target 1
Achieve EUR 2.4 billion in sustainable finance cumulated production by 2027
BRD Group's target to achieve EUR 2.4 billion in sustainable finance production by 2027
aligns with the SG Group’s sustainability policies and objectives. This target supports the
SG Environmental and Social (E&S) General Principles by integrating environmental and
social considerations into financial decision-making, mitigating risks, and ensuring
compliance with regulations. It also aligns with Sector-wide E&S Policies, helping BRD
prioritize financing in sustainable sectors while avoiding environmentally harmful
industries.
Furthermore, the target contributes to SG’s Climate Policy, supporting the transition to
a low-carbon economy by financing green projects and reducing exposure to carbon-
intensive sectors. It is also in line with the SG Positive Impact Financing Bond Framework,
which promotes investments in projects that generate positive environmental and social
impacts, such as renewable energy and social inclusion, while ensuring transparent
reporting and accountability. The target is also used to track the effectiveness of the
“Business plan for sustainable and positive impact financing” disclosed under “Actions
Related to Climate Change Adaptation, Climate Change Mitigation and Energy
”.
This
target addresses all climate change mitigation adaptation and energy material impacts,
risks and opportunities, apart from the negative impacts related to carbon emissions and
the use of non-renewable energy, addressed by Target 2, described below.
The target applies to all BRD activities related to sustainable finance, including corporate
lending, retail banking. It covers financing activities across downstream value chains,
addressing direct clients and potential clients. The geographical scope includes BRD’s
operational regions, primarily Romania, with potential contributions from SG Group
initiatives across the broader European market. Upstream value chain does not fall
under the scope of this target.
28
the Green & Sustainability Linked Loans Framework or the Green Financing Framework, and may include positive impact
financing (PIF), sustainability-linked loans (SLL), and other specialized loans like blue or gender loans. Sustainable financing
encompasses green or social loans used to finance or refinance eligible Green/Social Projects, with methodologies and criteria
that are internally defined and distinct from the EU Taxonomy's criteria, being less stringent than those in the EU Taxonomy.
Consequently, not all sustainable finance provided by BRD Group will meet the strict criteria for EU Taxonomy alignment and the
Sustainable Financing metric and target presented hereinafter in this report is an internal metric and must not be confused with
the Green Asset Ratio (GAR) KPI under the EU Taxonomy.
The target applies to the period 2023-2027, with regular interim milestones to monitor
progress. Annual reviews are conducted to ensure alignment with BRD Group's
sustainability goals and regulatory expectations, with interim targets set for each year
to ensure a steady trajectory towards the 2027 goal.
The target is defined using methodologies aligned with international sustainability
frameworks and SG/BRD Group’s sustainability strategies. Significant assumptions
include the continued availability, stable economic conditions, and increasing client
demand for sustainable financial products. Data sources include internal financial
reporting systems, regulatory disclosures, and third-party verification mechanisms to
ensure accuracy for certain categories (SLL financing).
Key stakeholders, including clients, investors, regulatory bodies, and internal
sustainability committees, have been actively involved in defining the target.
Stakeholder engagement includes consultations with industry experts, partnerships with
environmental organizations, and dialogue with policymakers to ensure the target aligns
with market needs and regulatory frameworks.
Progress towards the sustainable finance target is monitored and reviewed regularly
through internal governance structures, in the quarterly monitoring of business strategy
and financial reporting systems. Metrics used to track progress include the total volume
of sustainable financing, progress towards the established targets, trends of evolution
compared to the target. In addition, on an annual basis, we assess the trend of the
sustainable finance market. Performance is assessed through quarterly and annual
reviews, ensuring that progress remains in line with initial projections and allowing for
corrective actions if necessary. This is a quantitative indicator, and no explicit qualitative
data is used to monitor progress.
Target |
Achieve a 55% reduction in the carbon footprint of BRD Group’s own operations 2027, compared to the 2019 baseline. |
The target was established in alignment with BRD Group’s strategic vision outlined in the
Horizons 2027 strategy, ensuring a cohesive approach to our objectives. It does not
however address the policies disclosed in this report.
We note that the methodology used to calculate the baseline value for the reduction in
the carbon footprint of BRD Group’s own operations was internally developed and refers
to categories of emissions associated with Scope 1, 2 and selected categories in scope 3,
as described above. The target set by us of reduction with 55% of the carbon footprint
of BRD Group’s own operations by 2027 is set in accordance with the above mentioned
methodology. Our goal is to achieve this current target by 2027 and set a new GHG
reduction target as part of our future Transition Plan.
However, the methodology disclosed in section "Metrics related to climate change" as
well as the actual values for GHG emissions under Scope 1, 2 and selected categories
from scope 3 is different from the methodology used to determine the baseline value
for carbon footprint of BRD Group’s own operations.
The defined target is to achieve a 55% absolute reduction in the carbon footprint of BRD
Group’s own operations by 2027, compared to the 2019 baseline of 20,071 tons of CO
₂
(tCO
₂
). The target is expressed in absolute terms, measured in metric tons of CO
₂
equivalent (tCO
₂
e).
The target covers BRD Group’s direct operations, including Scope 1 and Scope 2
emissions across all office buildings, branches, data centres, and operational facilities
within Romania. It does not currently extend to upstream or down-stream value chains
but focuses on emissions under the Group’s direct control, ensuring a significant impact
within BRD Group’s geographical operations.
BRD Group ensures the consistency of its GHG reduction targets with its GHG inventory
boundaries by aligning its emissions accounting and reduction initiatives with
internationally recognized standards and frameworks, including the GHG Protocol. The
defined target of a 55% reduction in the carbon footprint of BRD Group’s own operations
by 2027, compared to the 2019 baseline, covers the same organizational and operational
boundaries used in the annual GHG inventory assessment. The GHG inventory
encompasses Scope 1 and Scope 2 emissions, covering direct emissions from owned or
controlled sources (e.g., company vehicles, heating systems) and indirect emissions from
purchased electricity, heat, and cooling. Additionally, relevant Scope 3 emissions,
namely employee commuting and business travel, are monitored to assess their impact
and identify potential reduction opportunities. This approach ensures that BRD Group’s
emissions reduction initiatives cover and address all significant sources of operational
carbon emissions. BRD Group's integrated environmental management system enables
accurate data collection, validation, and reporting across all relevant operational sites.
Yearly external audits and reviews are conducted to validate the consistency between
the defined GHG targets and the inventory boundaries, ensuring that any adjustments
or operational changes (such as new office locations, fleet modifications, or energy
procurement strategies) are reflected in both the target and the inventory.
BRD Group has established 2019 as the base year for its GHG emissions reduction target,
with a baseline value of 20,071 tCO
₂
determined through a comprehensive assessment of emissions data collected across all
operational sites, covering both Scope 1 and Scope 2 emissions, and selected Scope 3
categories. The 2019 baseline serves as a reference point for measuring progress and
tracking the effectiveness of BRD's emissions reduction initiatives. BRD Group has
selected 2019 as the baseline year for its GHG emissions reduction target due to its
operational stability and typical consumption levels. While 2020 was a potential
candidate for the baseline, it was excluded due to the significant disruption caused by
the COVID-19 pan-demic, which led to abnormal consumption patterns and a reduction
in overall operational activity. This drastic reduction in emissions and energy use in 2020
could have negatively influenced the data, making it an unreliable reference for normal
operations. To ensure that the baseline is representative of typical activity levels, 2019
was chosen as it reflects a year of normal operational performance without the external
disruptions that occurred in 2020. This baseline value was reviewed to ensure that it
reflects BRD Group's operational emissions prior to any significant external factors or
anomalies. An intensity value GHG reduction target is not yet established.
The target period spans from 2019 to 2027. In 2024 it was achieved a reduction of 45%
compared to the 2019 baseline. Further reviews and adjustments are planned annually
to ensure the Group remains on track to achieve its final 2027 goal. No specific
milestones or interim targets were established.
The target was defined using methodologies aligned with international best practices,
namely the Greenhouse Gas Protocol. Data sources include internal energy consumption
reports, contractual instruments used for the sale and purchase of energy and regulatory
environmental disclosures. In developing the target EU Green Deal, Paris Agreement,
and Romania’s national climate goals were considered. Assumptions include a stable
regulatory environment, continued adoption of energy-efficient technologies, and
employee engagement in sustainability initiatives.
Stakeholders, namely internal specialized teams and operational managers were actively
involved in the target-setting process. Employee engagement initiatives, such as
awareness campaigns and training sessions, also played a crucial role in shaping the
target, ensuring alignment with both business operations and employee expectations.
Performance is monitored through the integrated environmental management system,
with annual reviews conducted to track emissions, assess trends, and identify areas for
further improvement. Key metrics include total CO
₂
indicators, and cost savings from energy reduction initiatives. Progress remains on track,
with ongoing measures such as remote work policies, energy-efficient infrastructure
upgrades, and fleet greening programs supporting continued reductions.
Decarbonization levers related to target 2
BRD Group has identified several key decarbonisation levers, described under E1-3
which will contribute to the achievement of its GHG emissions reduction targets for own
operations. These levers include:
-
energy consumption across its operations, including the optimization of energy use in
office spaces and reducing the energy intensity of production processes. This lever
will primarily contribute to the reduction of Scope 2 emissions (indirect emissions from
purchased energy).
-
particularly for any remaining fossil fuel use. The move to electric vehicles (EVs) and
the greening of the car fleet by adopting Battery Electric Vehicles (BEVs) and Plug
-in
Hybrid Electric Vehicles (PHEVs) will lower emissions in Scope 1 (direct emissions
from owned or controlled sources) by replacing traditional gasoline or diesel vehicles.
-
renewable energy sources, such as solar or green electricity, in its operations, thereby
reducing Scope 2 emissions. This includes potential on-site renewable energy
generation and the purchase of renewable energy.
-
technology upgrades, such as automation systems, which improve energy
management and reduce overall emissions.
For GHG emissions Scope 1, the greening of the car fleet (with BEVs/PHEVs) and a
reduction in fossil fuel usage across BRD Group’s operations are expected to be the
primary decarbonisation measures. Also, switching from fossil fuels to low-carbon or
renewable fuels and enhancing energy efficiency in BRD’s building operations will also
help reduce direct emissions. Transitioning to renewable energy (solar, wind, and green
energy) for BRD’s office buildings and operational facilities will reduce Scope 2
emissions. Additionally, energy-efficient equipment and technologies implemented
across operations will reduce energy demand, further de-creasing Scope 2 emissions.
Use of new technology in achieving target 2
To achieve the GHG emission reduction targets, BRD Group is investing in new
technologies that will accelerate decarbonisation, particularly for Scope 1 and Scope 2
emissions. Some examples include:
-
car fleet, BRD Group will reduce its Scope 1 emissions. In addition, the Group is
investing in charging infrastructure to support these vehicles.
-
efficient technologies in buildings, such as smart building management systems that
optimize energy consumption in real-time.
-
will enhance operational efficiencies and energy management, improving energy use
efficiency and reducing carbon intensity.
Target s alignment with Paris Agreement objectives
BRD Group has established two key targets to address its environmental impact: (1)
achieving EUR 2.4 billion in sustainable finance production by 2027, and (2) achieving a
55% reduction in the carbon footprint of its own operations by 2027, compared to the
2019 baseline. However, it is important to note that these targets are not science-based
and have not been explicitly aligned with limiting global warming to 1.5°C.
The methodology used to determine these targets is primarily based on internal
assessments, industry benchmarks and alignment with SG Group ambitions, rather than
a sectoral decarbonization pathway. BRD Group’s carbon reduction target for
operational emissions is derived from an analysis of its historical emissions, operational
energy efficiency initiatives, and anticipated improvements in energy procurement and
building infrastructure. The sustainable finance target is based on the SG Group’s
strategic commitment to financing projects aligned with environmental and social
objectives, with a focus on renewable energy, energy efficiency, and green
infrastructure.
Underlying climate and policy scenarios have been considered to a limited extent in the
target-setting process. While BRD Group acknowledges the importance of regulatory
factors such as the EU Green Deal, and the Taxonomy Regulation, the current targets are
primarily based on achievable operational improvements and projected market trends
rather than detailed climate scenario modelling.
In setting these targets, BRD Group has considered several critical assumptions,
including:
-
regulations and environmental reporting requirements.
-
digital solutions to reduce emissions across owned operations.
-
green financial products and services, supporting the sustainable finance goal.
-
consumption patterns, which have been factored into reduction estimates.
BRD Group confirms that the GHG reduction targets have not been externally assured,
though internal reviews and progress monitoring mechanisms are in place to track
achievement against the stated objectives.
Climate Scenario
In setting BRD Group’s GHG reduction target, climate scenarios were not explicitly
considered as part of the target-setting process.
While climate scenarios were not formally included in the initial tar-get -setting phase,
BRD Group has committed to reducing its carbon footprint in alignment with broader
environmental regulations and market developments, including the EU Green Deal and
EU climate targets.
Metrics related to climate change
This section presents the key metrics that have been identified as material for tracking
BRD Group’s performance in relation to the material IROs. These metrics provide insights
into the effectiveness of the BRD Group’s IROs management strategies and its
commitment to address climate change.
The calculations for the energy consumption for BRD and Sogelease were made based
in the invoices received by the suppliers. The data were afterwards inputted by the
internal teams based on the different types of energy required by the reporting
standard. For the renewable energy, the explanation is provided under the Contractual
instruments used for the sale and purchase of energy paragraph below.
E1-5
For BRD AM, the data was provided by the owner of the building in which BRD AM is
headquarter.
Table 5 - Energy Consumption and mix related to BRD Groupe Société Générale S.A.
and BRD Sogelease
Energy Consumption and mix | Unit Measure | 2024 |
Fuel consumption from coal and coal products | MWh | 0 |
Fuel consumption from crude oil and petroleum products | MWh | 336 |
Fuel consumption from natural gas | MWh | 16,003 |
Fuel consumption from other fossil sources | MWh | 0 |
Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil sources | MWh | 1,630 |
Total | MWh | 17,969 |
Share of fossil sources in total energy consumption | % | 48% |
Consumption from nuclear sources | MWh | |
Share of consumption from nuclear sources in total energy consumption | % | 0 |
Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen, etc.) | MWh | 0 |
Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources | MWh | 19,465 |
The consumption of self-generated non-fuel renewable energy | MWh | 0 |
Total | MWh | 19,465 |
Share of renewable sources in total energy consumption | % | 52% |
Total | MWh |
Note to data related to “Energy Consumption and mix”
:
The data includes diesel used for the generator and heating. The data is not validated
by an external body. No assumptions were used
Table 6 - Energy Consumption and mix related to BRD Asset Management
Energy Consumption and mix | Unit Measure | 2024 |
Fuel consumption from coal and coal products | MWh | 0 |
Fuel consumption from crude oil and petroleum products | MWh | 0 |
Fuel consumption from natural gas | MWh | 37.56 |
Fuel consumption from other fossil sources | MWh | 0 |
E1-6
Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil sources | MWh | 47.34 |
Total | MWh | 84.90 |
Share of fossil sources in total energy consumption | % | 100% |
Consumption from nuclear sources | MWh | 0 |
Share of consumption from nuclear sources in total energy consumption | % | 0 |
Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen, etc.) | MWh | 0 |
Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources | MWh | 0 |
The consumption of self-generated non-fuel renewable energy | MWh | 0 |
Total | MWh | 0 |
Share of renewable sources in total energy consumption | % | 0 |
Total | MWh |
* The data is not validated by an external body. no assumption was used
For the renewable energy produced by BRD Group, please refer to the “On-grid
photovoltaic systems on BRD buildings” action. We do not produce any non-renewable
energy.
Table 7- Gross Scopes 1, 2, 3 and Total GHG emissions
BRD Group - Corporate carbon footprint
Scope
Activity Type
Reference year
2024
Unit
Scope 1
Stationary combustion – BRD Bank
3,354.84
tons CO
2
e
Scope 1
Stationary combustion – BRD AM
7.70
tons CO
2
e
Scope 1
Stationary combustion – BRD Sog.
9.95
tons CO
2
e
Scope 1
Mobile combustion – BRD Bank
1,128.47
tons CO
2
e
Scope 1
Mobile combustion – BRD AM
9.28
tons CO
2
e
Scope 1
Mobile combustion – BRD Sog.
104.74
tons CO
2
e
Scope 1
Gross Scope 1 GHG emissions
4,614.98
tons
CO
2
e
Scope 1
Percentage of GHG emissions from regulated
emission trading schemes (%)
0%
-
Scope 2
Purchased electricity (Location Based) – BRD Bank
3,348.06
tons CO
2
e
Scope 2
Purchased electricity (Market Based) – BRD Bank
0.00
tons CO
2
e
Scope 2
Purchased electricity (Location Based) – BRD Sog.
34.84
tons CO
2
e
Scope 2
Purchased electricity (Market Based) – BRD Sog.
0.00
tons CO
2
e
Scope 2
Purchased electricity (Location Based) – BRD AM
10.56
tons CO
2
e
Scope 2
Purchased electricity (Market Based) – BRD AM
8.15
tons CO
2
e
Scope 2
Purchased heat and steam – BRD Bank
358.65
tons CO
2
e
Scope 2
Gross location-based Scope 2 GHG emissions
3,752.10
tons
CO
2
e
Scope 2
Gross market-based Scope 2 GHG emissions
366.80
tons
CO
2
e
Scope 3.1
Purchased Goods and Services
39,201.79
tons CO
2
e
Scope 3.2
Capital goods
tons CO
2
e
Scope 3.3
Fuel and energy-related Activities (not included in
Scope1 or Scope 2)
1,858.21
tons CO
2
e
Scope 3.4
Upstream transportation and distribution
-
tons CO
2
e
Scope 3.5
Waste generated in operations
1.55
tons CO
2
e
Scope 3.6
Business Travel
107.01
tons CO
2
e
Scope 3.7
Employee commuting (estimated total)
3,439.00
tons CO
2
e
Scope 3.8
Upstream leased assets
tons CO
2
e
Scope 3.9
Downstream transportation
tons CO
2
e
Scope 3.10
Processing of sold products
tons CO
2
e
Scope 3.11
Use of sold products
tons CO
2
e
Scope 3.12
End-of-life treatment of sold products
tons CO
2
e
Scope 3.13
Downstream leased assets
tons CO
2
e
Scope 3.14
Franchises
tons CO
2
e
Scope 3.15
Investments
1,752,781.48
tons CO
2
e
Scope 3
Total Gross indirect (Scope 3) GHG emissions –
BRD Group
1,797,389.04
tons
CO
2
e
Total GHG emissions (location- based)
1,805,756.12
tons
CO
2
e
Total GHG emissions (market- based)
1,802,370.82
tons
CO
2
e
Note to data related to “Gross Scopes 1, 2, 3 and Total GHG emissions”
:
Methodology applied for the calculation of the GHG Emissions from own operations
and upstream – Scope 1, Scope 2, Scope 3
BRD Group calculates the GHG emissions from own operations based on the indication
provided by the GHG Protocol Corporate Accounting and Reporting Standard. In the
calculation are included BRD (the Bank), BRD Asset Management and BRD Sogelease.
BRD Group applies the operational control approach, which ensures that emissions are
accounted for operations for which BRD Group has full control over, excluding those
where BRD Group has an interest but no control. For Scope 1 emissions (direct emissions
from owned or controlled sources), data on fuel consumption in stationary combustion
(e.g., natural gas and diesel used in boilers, turbines), mobile combustion (e.g., diesel
and gasoline used by vehicles), and refrigerants are collected and processed. Emission
factors for stationary combustion are derived from Order no. 2.057/2020 (Romanian
Ministry of Environment), instead those used for mobile combustion are derived from
the US EPA 2023 database and the factors used for refrigerants are taken from Order
no. 2.057/2020 (Romanian Ministry of Environment) and IPCC’s Climate Change 2021
report. For Scope 2 emissions (indirect emissions from purchased electricity), BRD Group
calculates emissions using both location-based and market-based methods. The
29
activity/spend-based data and aligned with GHG Protocol calculation tools and guidance.
location-based method uses the national electricity emission factor published by ANRE
for 2023, while the market-based method reflects the emission factor provided by the
electricity distribution company serving BRD Group operations. For
Purchased heat and
steam
invoices for utilities paid. Afterwards, a country factor was used to compute emissions
as no reliable data at supplier level are available. In terms of Scope 3 emissions (indirect
emissions across the value chain), BRD Group employs a combination of data and
methodologies specific to each subcategory. For example, emissions from purchased
goods and services (Scope 3.1) are calculated using the spend-based method with
emission factors from ADEME's 2023 database. Emissions from fuel and energy activities
(Scope 3.3), waste generated in operations (Scope 3.5), business travel (Scope 3.6) and
employee commuting (Scope 3.7) are also calculated using data from the UK DEFRA 2023
database. In the case of all types of emissions addressed above, the results are obtained
by multiplying the quantity of each emission source by the relevant emission factor.
Scope 3.7 emissions are estimated on the answers provided by employees to a
questionnaire, by taking the average responses into consideration. In the case of all
types of emissions addressed above, the results are obtained by multiplying the quantity
of each emission source by the relevant emission factor.
Other estimates and significant assumptions are not used in the case of other Scope 3
emissions disclosed in this report, for the exception of Scope 3.15 financed emissions,
which is addressed below, under “Scope 3 GHG emissions and data sources
”.
The general emissions calculation formulas were:
Consumption data x emissions factor (kg CO2eq/unit) = GHG emissions (tons CO2eq)
Where Consumption data is not available, the following formula is applicable:
Data on expenditure x emissions factor (kg CO2eq/unit) = GHG emissions (tons CO2eq)
The calculation of the GHG emissions from own operations and upstream is not validated
by an external body. Besides Scope 3 financed emissions, Microsoft Excel was the tool
used to prepare information on GHG emissions and for the estimations used in the case
of Scope 3.7 employee commuting.
Contractual instruments used for the sale and purchase of energy
BRD Group calculates its Scope 2 GHG emissions using both the location-based and
market-based methods, in accordance with the requirements of the GHG Protocol Scope
2 Guidance (2015). GHG emissions other than CO2 are not available for market-based or
location-based grid average emissions factors. Under the location-based method, Scope
2 emissions are quantified based on the average energy generation emission factors
applicable to national and regional electricity grids, specifically using the national
emission factor published by ANRE (the National Energy Regulatory Authority). The data
used is as of 2023, as per the energy label published in 2024. This approach reflects the
emissions intensity of the grid where BRD Group operates, providing a standardized
baseline for comparison. In contrast, the market-based method considers emissions
from electricity that BRD Group has contractually purchased, considering the specific
emissions profiles of energy providers. To enhance the reliability of its data for market-
based emissions reporting BRD Group uses Guarantees of Origin (GOs) as proof of
purchasing renewable electricity. These GOs are contractual instruments that verify the
renewable origin of the electricity supplied to BRD Group, thus allowing the Group to
report reduced market-based emissions in alignment with its sustainability
commitments. These instruments are bundled with the electric energy acquired by BRD
Group and cover all the electricity purchased in the locations under our control. What is
more, in the locations that are not under our control, the owners of the buildings also
use GOs, which cover the entire electricity consumed by BRD Group in those locations.
Methodology applied for the calculation of financed emissions (Scope 3)
The methodology used by BRD Group to calculate financed GHG emissions
is based on The Global GHG Accounting and Reporting Standard Part A:
Financed Emissions, Second Edition, issued by Partnership for Carbon
Accounting Financials (further referred to as “PCAF methodology”). This
approach provides a standardized, transparent and consistent way for
financial institutions to assess the greenhouse gas (GHG) emissions
associated with their lending and investment portfolios, which are further
included in Scope 3 emissions category. The PCAF methodology ensures
that all relevant emissions are included (completeness), consistent rules
are applied across financial institutions (consistency), and the methods and
sources are clearly communicated (transparency).
BRD Group computes the financed emissions for the following asset classes, as defined
by the PCAF standard: Sovereign, Equity, Corporate Bonds, Business loans, Vehicle loans,
Mortgage loans, Commercial real estate. Consumer loans (secured and unsecured),
exposures to municipalities, exposures to central banks, exposures to supranational,
financial derivatives, off-balance sheet exposures are excluded from the financed
emissions calculation perimeter, in line with PCAF methodology.
To compute the financed emissions, BRD Group applies the following
general formula: Emissions * Attribution factor, where:
●
Emissions are defined as the actual GHG emissions of the counterparties
(Scope 1 and Scope 2). Given the limited data availability, most of the
emissions are computed based on economic activity. For limited cases
(where information was available (i.e. only 7 exposures representing 1% of
total on-balance exposure), emissions directly reported by the
counterparties in their sustainability reports were considered.
●
Attribution factor determines the share of emissions of the borrower or
investee that are attributable to BRD Group based on its financing. This
factor is limited to 1.
Depending on the asset class, the components of the general formula are defined as:
●
For Mortgage loans and Commercial real estate:
o
Emissions are computed by multiplying the surface of the property with
the emission factor, taken over from the PCAF’s European building
emission factor database
. The emission factor is based on country,
property type and EPC rating.
o
Attribution factor is computed as the share of the on-balance exposure
out of the property value at origination.
●
For Sovereign:
o
Emissions are the total country emissions taken over from the European
Commission’s Emissions Database for Global Atmospheric Research
(EDGAR).
o
Attribution factor is computed as the share of the on-balance exposure
out of GDP adjusted by purchasing power parity (GDP PPP) at country
level. GDP PPP is taken over from World Bank’s database.
●
For Business loans, Corporate bonds and Equity:
o
Emissions are mainly computed by multiplying the total revenue of the
counterparty with the average emissions (per million revenue) of the
industry in which the counterparty operates. The average industry
emissions are determined using data published by the National Institute
of Statistics (INS). Only in seven cases the emissions were directly taken
over from the sustainability reports of the counterparties.
o
Attribution factor is computed as the share of the on-balance exposure
out of EVIC (enterprise value including cash), or Total equity + Total
debt, or Total assets (depending on data availability).
●
For Vehicle loans:
o
Emissions are computed by multiplying the distance travelled by a
motor vehicle with the emissions based on vehicle make, vehicle model,
registration year and fuel type, taken over from the European
Environment Agency (EEA) CO2 emissions database
o
Attribution factor is computed as the share of the on-balance exposure
out of the motor vehicle value at origination.
The methodology is susceptible to the effects of assumptions applied during financed
emission calculations. The most significant assumptions are detailed below:
●
o
system/databases, average EPC rating (weighted by property value at
origination) and average surface, respectively, were allocated based on
asset class and collateral type, apart from Commercial real estate where
EPC rating C was assumed, due to very low sample size.
o
from the Bank’s databases/systems. For such cases, the Attribution
factor was set to 1, thus ensuring that the entire Emissions generated by
the respective collateral were attributed to BRD.
●
calculation of financed emissions, when no sufficient financial data of a
counterparty was available, is based on the average intensity of emissions of
similar exposures, grouped by subsidiary, asset class and NACE code. If NACE
code was not available, then the grouping is performed by subsidiary and asset
class.
●
o
km/year.
o
established at 0.
o
registration year and fuel type is not possible (due to different naming
conventions between the Bank’s database and the European
Environment Agency CO2 emissions database), the allocated Emissions
represent the average of emissions based on vehicle make, registration
year and fuel type. If this allocation is still not possible, the allocated
Emissions represent the average of emissions based on vehicle make
and fuel type. If this allocation is still not possible, the allocated Emissions
represent the average of emissions based on vehicle make. If this
allocation is still not possible, the allocated Emissions represent the
average of emissions based on fuel type. If this allocation is still not
possible, the allocated Emissions represent the average of emissions
based on registration year.
The calculation of the financed emissions is not validated by an external body.
Table 8
Financed Emissions: PCAF ASSET CLASS | |||
On Balance RON Equivalent | Financed Emissions tCO2 | Emission Intensity per MRON Financed | |
Business loans | |||
Commercial Real Estate | |||
Corporate bonds | |||
Equity | |||
Mortgage loans | |||
Sovereign | |||
Vehicle loans | |||
Total | 55,219,297,929 | 1,752,781 | 31.7 |
Table 9
Financed Emissions: Split by data | ||||
DQS (High = 1, Low = 5) | On Balance RON Equivalent | Financed Emissions tCO2 | Emission Intensity MRON Financed | |
Business loans | 2 | |||
4 | ||||
5 | ||||
Commercial Real Estate | 5 | 648,423,085 | 5,314 | 8.2 |
Corporate bonds | 2 | 9,990,298 | 410 | 41.0 |
4 | 9,004,657 | 68 | 7.6 |
5 | 6,928,604 | 128 | 18.4 | |
Equity | 4 | 38,254,966 | 605 | 15.8 |
5 | 1,279,736 | 20 | 15.3 | |
Mortgage loans | 5 | 15,995,945,567 | 98,052 | 6.1 |
Sovereign | 2 | 18,805,639,707 | 472,966 | 25.2 |
Vehicle loans | 5 | 2,411,765,442 | 52,113 | 21.6 |
Total | 55,219,297,929 | 1,752,781 | 31.7 |
While we are committed to transparency and accuracy in our reporting, it is important
to note that the current data utilized in our financed emissions calculations includes a
significant proportion of estimates and proxies based on limited data. This results in data
quality scores primarily in the lower range of the PCAF scale. We acknowledge these
limitations, and we are actively working to enhance the specificity and reliability of our
emissions data.
Table 10
Financed Emissions: Split by key industries
Industry Description
On Balance RON
equivalent
Financed
Emissions tCO2
Emission Intensity
per MRON
Financed
Activities of administrative and support
services
Agriculture, hunting and fishing
Construction
Cultural and recreative entertainment
activities
Education
Financial intermediation and assurance
Health and social work
Hotels and restaurants
Information and communications
Manufacturing
Minning and quarrying
Other service activities
Production and distribution of electric and
thermal energy, gas and warm water and
conditioning air
Professional, scientific and technical
activities
Public administration and defense
Real estate transaction
Trade
Transport and storage
Water distribution; salubrity, managing of
waste, decontaminate activities
Other*
Total
55,219,297,929
1,752,781
31.7
*”Other” include exposures on Commercial Real Estate, Mortgage loans, Vehicle loans and Sovereign investments
Percentage of portfolio covered by Financed Emissions calculation from total portfolio:
78%.
Scope 3 GHG emissions and data sources
BRD Group calculates its Scope 3 GHG emissions using a combination of primary and
secondary data sources, applying methodologies aligned with the GHG Protocol
Corporate Accounting and Reporting Standard. The extent to which Scope 3 emissions
are measured using inputs from specific activities within BRD’s upstream and
downstream value chain varies by subcategory. For example, in the calculation of
emissions from purchased goods and services (Scope 3.1), BRD primarily relies on an
expenditure-based method, using emission factors from the ADEME 2023 database.
Similarly, emissions from fuel and energy-related activities (Scope 3.3), waste generated
in operations (Scope 3.5), business travel (Scope 3.6), and employee commuting (Scope
3.7) are calculated based on sector-specific factors derived from the UK DEFRA 2023
database. The Scope 3 emissions are calculated using primary data obtained directly
from suppliers or value chain partners is limited, as BRD Group mainly uses secondary
data sources and industry averages due to constraints in data availability. However, in
some instances, primary data is incorporated, such as direct reporting from suppliers or
business partners when available. For financed emissions, BRD Group applies the PCAF
methodology, which prioritizes the use of directly reported emissions from
counterparties whenever possible (for asset classes Business loans, Corporate bonds,
Equity), and country reported emissions (for Sovereign asset class). In cases where
reported emissions data is unavailable, emissions are estimated based on economic
activity data, namely average industry emissions per 1 million revenue, sourced from the
National Institute of Statistics. For secured loans (i.e. Mortgage loans, Commercial Real
Estate and Vehicle loans) emissions are computed based on emission factors sourced
from PCAF and European Environment Agency, respectively, by considering specific
collateral characteristics (as further detailed in the methodology section).
Type of Scope 3 GHG Emissions
BRD Group includes several Scope 3 GHG emissions categories in its emissions inventory,
as per requirements of the GHG Protocol Corporate Accounting and Reporting Standard.
The following Scope 3 categories are included in BRD Group’s inventory:
-
based method using emission factors from the ADEME 2023 database. This category
is significant due to the nature of BRD Group’s operations and procurement activities.
-
electricity consumption, with emission factors sourced from the UK DEFRA 2023
database. This category is critical for understanding the upstream impacts of
purchased energy.
-
by BRD Group and emission factors from the UK DEFRA 2023 database. This
category is relevant considering the waste management practices of BRD Group.
-
processed using emission factors from the UK DEFRA 2023 database. This category
is relevant due to frequent employee travel activities.
-
commuting habits and emission factors from the UK DEFRA 2023 database. This
category is relevant considering the number of employees within BRD Group.
For financed emissions, BRD Group applies the Partnership for Carbon Accounting
Financials (PCAF) methodology, which includes emissions from the following financial
products:
-
European building emission factor database. Significant emissions source due to
BRD’s lending portfolio.
-
average emission factors from the National Institute of Statistics (INS). A key part of
BRD’s investment and lending activities.
-
Agency CO2 emissions database. Important for assessing transport-related
emissions.
-
database and World Bank GDP data. Ensures full coverage of sovereign lending
activities.
The following Scope 3 categories are excluded from BRD Group’s inventory:
-
minimal environmental impact compared to other Scope 3 categories.
-
3.9): Not relevant to BRD Group’s core business model, as it does not manufacture
or distribute physical products.
-
operate leased assets.
-
physical product processing, making this category irrelevant.
-
which do not directly result in emissions from product usage.
-
produce physical goods that require end-of-life considerations.
-
included in the calculation of Scope 3.15 financed emissions.
-
business franchise model.
-
emissions: Financed emissions are already accounted for under the PCAF
methodology.
Table 11
Scope 3 Category | Included/Excluded | Calculation Method | Data Sources / Tools | Boundary |
Purchased Goods and Services | Included | Expenditure- based | ADEME 2023 | BRD Group controlled procurement |
Capital Goods | Excluded | Not applicable | - | Not relevant to financial services |
Fuel- and Energy- Related Activities | Included | Activity- based | UK DEFRA 2023 | Consolidated group |
Upstream Transportation & Distribution | Excluded | Not applicable | - | Not relevant to financial services |
Waste Generated in Operations | Included | Activity- based | UK DEFRA 2023 | BRD Group operations |
Business Travel | Included | Distance- based | UK DEFRA 2023 | Controlled business travel |
Employee Commuting | Included | Survey-based | UK DEFRA 2023 | BRD employees under operational control |
Upstream Leased Assets | Excluded | Not applicable | - | Not relevant to financial services |
Downstream Transportation & Distribution | Excluded | Not applicable | - | Not relevant to financial services |
Processing of Sold Products | Excluded | Not applicable | - | Not relevant to financial services |
Use of Sold Products | Excluded | Not applicable | - | Not relevant to financial services |
End-of-Life Treatment of Sold Products | Excluded | Not applicable | - | Not relevant to financial services |
Downstream Leased Assets | Excluded | Not applicable | - | Not relevant to financial services |
Franchises | Excluded | Not applicable | - | Not relevant to financial services |
Financed Emissions (Investments) | Included | Economic activity-based (primary method) and directly reported emissions (limited cases). The calculation methodology | Data sources: Internal data (e.g. exposure value, financial data of counterparties , value of the underlying asset at origination | Lending and investment activities |
applied by the
Bank is based
on The Global
GHG
Accounting
and Reporting
Standard Part
A: Financed
Emissions
(Second
Edition),
issued by the
Partnership
for Carbon
Accounting
Financials
(PCAF)
date (RRE,
CRE, motor
vehicle
loans), type
and details on
the
underlying
asset, EPC
rating and
surface of
RRE and
CRE
collaterals,
etc.).
External data
(e.g. emission
factors,
average
industry
emissions,
country
emissions):
PCAF,
National
Institute of
Statistics,
European
Commission,
World Bank,
European
Environment
Agency
Tool:
Financed
Emissions
Calculator
(SQL based
tool)
Table 12
GHG intensity per net revenue | 2024 |
Total GHG emissions (location-based) per net revenue (tCO2eq/RON) | 0.0004 |
Total GHG emissions (market-based) per net revenue (tCO2eq RON) | 0.0004 |
Table 13
GHG Emissions per net revenue (RON) | 2024 |
Net revenue used to calculate GHG intensity | 4,032,034,000 |
Net revenue (other) | - |
Total net revenue (in financial statements) | 4,032,034,000 |
Note to data related to “GHG Emissions based on net revenue”:
The GHG Intensity based on net revenue is determined by diving the total GHG emissions by net
revenue which is defined as net interest income, net fees and commission and other operating income
(presented in the Financial Statements in the CONSOLIDATED AND SEPARATE STATEMENT OF
PROFIT OR LOSS for the year ended December 31, 2024, under line Net banking income).
Metric related to Sustainable finance
In 2024, BRD Group supported projects with an environmental and social positive impact, dedicated to
large clients, SMEs and public authorities, related to renewable energy, clean mobility, healthcare,
education, financing for developing/maintaining local employment, social inclusion of vulnerable
categories. In 2024, BRD Group made progress toward its sustainable finance targets, successfully
concluding sustainable finance transactions totaling EUR 362 million (RON equiv. 1,800 million).
These new loans granted during 2024 contributed to a cumulated production of sustainable financing
of more than EUR 1 billion over 3 years.
EU Taxonomy
The EU Taxonomy is a cornerstone of the European Union’s (EU’s) sustainable finance framework, as
it helps direct investments to the economic activities most needed for the transition, in line with the
European Green Deal objectives and defines criteria for economic activities that are aligned with a net
zero trajectory by 2050 and the broader EU environmental goals.
On this basis, the EU Taxonomy is a classification system of economic activities that make a substantial
contribution to environmental sustainability and sets out the criteria that an economic activity must meet
to qualify as environmentally sustainable (Article 3 of Regulation (EU) 2020/852):
1.
environmental objectives (as defined in the delegated regulation – Regulation (EU) 2020/852);
2.
3.
4.
Reporting perimeter
The preparation of the EU Taxonomy reporting for the financial year ended 31 December 2024 (FY
2024) is based on the prudential consolidation perimeter of BRD Group, determined in accordance with
Regulation (EU) No 575/2013 (CRR). On this basis, the prudential consolidation perimeter of BRD
Group as of 31 December 2024 end includes the parent company BRD Groupe Société Générale S.A
(“the Bank” or “BRD”) and its fully consolidated subsidiary: BRD Sogelease IFN S.A. (BRD
Sogelease).
As of 31 December 2024, BRD Finance was in a run-off process planned to be
finalized in 2025 (voluntary liquidation), with activity kept at a minimum level and no longer
classified as financial institution, thus BRD Finance was excluded from the prudential
consolidation perimeter.
Basis of preparation
BRD Group’s EU Taxonomy Reporting for the financial year ended 31 December 2024 was prepared
in accordance with Annex V, VI and Annex XI of the Disclosures Delegated Act - Commission
Delegated Regulation (EU) 2021/2178, as well as Annex XII of the Commission Delegated Regulation
(EU) 2022/1214, limited to “Template 1. Nuclear and fossil gas activities.”
For the purposes of the EU Taxonomy reporting for the financial year ended 31 December 2024, BRD
Group reports quantitative information on all six environmental objectives listed below.
1.
2.
3.
4.
5.
6.
However, there is currently insufficient publicly available data regarding the last four environmental
objectives, as such, the corresponding information is limited.
BRD Group’s quantitative disclosure consists of the following Templates, included in Annex 5:
Template 0. Summary of KPIs to be disclosed by credit institutions under Article 8 Taxonomy
Regulation
Template 1. Assets for the calculation of GAR (Turnover based disclosure)
Template 1. Assets for the calculation of GAR (CapEx based disclosure)
Template 2. GAR sector information (Turnover based disclosure)
Template 2. GAR sector information (CapEx based disclosure)
Template 3. GAR KPI stock (Turnover based disclosure)
Template 3. GAR KPI stock (CapEx based disclosure)
Template 4. GAR KPI flow (Turnover based disclosure)
Template 4. GAR KPI flow (CapEx based disclosure)
30
perimeter.
Template 5. KPI off-balance sheet exposures stock (Turnover based disclosure)
Template 5. KPI off-balance sheet exposures flow (Turnover based disclosure)
Template 5. KPI off-balance sheet exposures stock (CapEx based disclosure)
Template 5. KPI off-balance sheet exposures flow (CapEx based disclosure)
Template 1. Nuclear and fossil gas related activities, stock
BRD Group’s Green Asset Ratio (GAR)
Basis of preparation
BRD Group’s disclosure includes the aggregate GAR for:
●
counterparty, based on the following components:
o
financing Taxonomy aligned economic activities contributing substantially to, or
enabling at least one of the six environmental factors;
o
the reporting perimeter), excluding the exposures towards central governments, central
banks, supranational issuers, and the trading portfolio (including derivatives);
●
For the avoidance of doubt, covered assets include, in accordance to Annex V,1.,1.1.2. of the
Commission Delegated Regulation (EU) 2021/2178
,
the following categories of financial assets:
(a)
(b)
(c)
(d)
(e)
mandatorily at fair value through profit or loss (excluding derivatives)
(f)
assets).
Assets mentioned at points a) and b) are presented at gross carrying amount, while assets at points c),
d), e) and f) are presented at carrying amount (net).
BRD Group’s methodology for eligibility and alignment assessment is described in further detail in
the sections below.
GAR evolution
At 31 December 2024, 0.26% of BRD Group’s total covered assets are considered aligned (total GAR
assets) vs. 0.24% the previous reporting period (31 December 2023), based on turnover KPI and 1.20%
vs 1.26% based on CAPEX KPI. The main drivers for the variation include the growth in BRD Group’s
portfolio (the increase of total GAR assets), changes to EU Taxonomy eligible counterparty scope for
2024 reporting (more details on - Restatements for 2023 GAR section).
On this basis, as at 31 December 2024 (FY 2024):
●
o
RON 86.2 m (3.59%)
o
●
o
o
As at 31 December 2023 (FY 2023 restated):
●
o
o
●
o
o
The EU Taxonomy reporting for the financial year ended 31 December 2024 is the first time BRD
Group reports GAR flow, as such there is no comparable information with the previous reporting period.
GAR flow calculation methodology differs depending on the type of exposure, as follows:
●
on-year production (i.e. newly incurred flows);
●
variance;
●
nature of loans and advances and debt securities: GAR flow was assumed equal to zero;
As at 31 December 2024, the total GAR flow based on turnover amounted to 0.34% of total covered
assets, while the CAPEX based GAR flow amounted to 0.71% of total covered assets.
As at 31 December 2024, BRD Group’s Financial Guarantee GAR stock and flow, comprise of:
●
o
o
●
o
o
As at 31 December 2023 (restated), BRD Group’s Financial Guarantee stock comprises of:
●
●
CAPEX based aligned exposures: 26.01%.
BRD Group’s portfolio eligibility assessment
Taxonomy eligible economic activities are determined based on the nature of the economic activity of
each relevant counterparty. If the economic activity belongs to the list of economic activities described
in the delegated acts adopted pursuant to articles 10(3), 11(3), 12(2), Article 13(2), 14(2), and 15(2), of
Regulation (EU) 2020/852, the economic activity is deemed Taxonomy eligible.
The eligibility of an economic activity is determined irrespective of whether that economic activity
meets any or all of the technical screening criteria laid down in the relevant delegated acts.
For the preparation of the EU Taxonomy reporting for the financial year ended December 2024, BRD
Group has adopted the below eligibility assessment methodology by counterparty type:
●
o
percentage of turnover and Capex, as per counterparty disclosure;
o
criteria according to the EU Taxonomy;
●
o
Commission Delegated Regulation (EU) 2021/2178 Annex V, 1.2.1.3.
The eligibility of BRD Group’s total covered assets is as follows:
●
December 2023;
●
CAPEX-based eligible exposures: 29.34% at 31 December 2024 vs. 30.67% at 31
December 2023.
BRD Group portfolio alignment assessment
Taxonomy-aligned economic activities are determined based on their compliance with the requirements
laid down in Article 3 of Regulation (EU) 2020/852, referred to below.
According to Article 3, for the purposes of establishing the degree to which an investment is
environmentally sustainable (interpreted as aligned), an economic activity shall qualify as
environmentally sustainable where that economic activity:
●
objectives set out in Article 9 in accordance with Article 10 to 16;
●
objectives set out in Article 9 in accordance with Article 17;
●
down in Article 18; and
●
accordance with Article 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2).
Data limitations
For Unknown UoP exposures, BRD Group took into account the relevant Taxonomy KPIs for
Taxonomy eligibility and Taxonomy alignment that were disclosed by the counterparties. These
relevant Taxonomy CAPEX-based and turnover-based KPIs for non-financial counterparties, as well
as Taxonomy-specific KPIs for financial counterparties were collected through an internal data
collection process.
BRD Group’s eligibility and alignment of its exposures to FUs and NFUs is based on publicly
available information disclosed by the relevant counterparties. One limitation is that data for the
financial year ended 31 December 2024 is not available when this analysis was performed for the
preparation of this report, therefore the analysis is based on relevant counterparty disclosure as at 31
December 2023.
The application scope of the EU Taxonomy Disclosures Regulation is currently limited by legislation,
specifically the counterparties in scope of CSRD. For BRD Group, this limitation means that an
important portion of the portfolio, including counterparties not subject to CSRD requirements, cannot
presently be factored into the numerators of the Taxonomy eligibility KPI and the Green Asset Ratio
(GAR).
For the EU Taxonomy reporting as of December 31, 2024, BRD Group encountered difficulties in
demonstrating the Taxonomy alignment of its mortgage portfolio, particularly concerning the Do No
Significant Harm (DNSH) criterion, as a result of data limitations. Hence, the Group has opted for a
conservative approach and assessed its mortgage portfolio as not aligned. BRD Group is committed to
further refining its data collection, processing, and methodology in order to facilitate alignment
assessment in the future.
The EU Taxonomy is a complex framework, and there are still on-going guidance and clarifications
issued, such as the FAQs issued by the European Commission, offering additional clarity. These
developments are regularly reviewed by BRD Group. The disclosure for 2024, pursuant to Article 8 of
the EU Taxonomy, reflects BRD Group’s current interpretation of this framework. The European
Commission's FAQs were considered, provided they do not exceed or contradict the requirements set
forth in the Taxonomy Regulation and Commission Delegated Regulation (EU) 2021/2178, or previous
FAQs. Any changes in interpretation from the prior reporting period, leading to adjustments in the
disclosure presentation, are detailed below in thesection “
Restatements to 31 December 2023 GAR
”.
Restatements to 31 December 2023 GAR
The below restatements were applied to the EU Taxonomy disclosure for financial year ended 31
December 2023:
●
In the FY23 report, consumer loans granted to households were categorized under "Other
assets." This classification was adjusted by reclassifying these loans from "Other assets"
(row 47) to "Households" (row 24) in the FY23 report to achieve comparability with FY24
figures;
●
assets held for sale were originally presented at their gross amount in FY23 reporting;
these have been restated to reflect their carrying amount (net) to achieve comparability
with FY24 figures.
●
NFRD (and thus exclude exposures towards undertakings not subject to NFRD
requirements);
●
and reclassified as "Assets not covered for GAR calculation."
●
unknown use of proceeds) was assessed based on the nature of economic activity on
criteria listed in the Climate Delegated Act - Commission Delegated Regulation (EU)
2021/2139. This additional filter has been removed for FY24 reporting (and restated for
FY23) as it is not applicable for exposures with unknown use of proceeds.
●
entire portfolio, compared to the FY 2023 report, where only a portion of the portfolio was
included, namely the portion that met the Significant Contribution technical criterion;
●
approach and assessed its mortgage loan portfolio as not aligned, as described above in
the section “Data limitations”. The amounts reported as aligned for the mortgage portfolio
on FY23 reporting were restated to zero.
8.3 Social information
Own workforce
This chapter includes details on the identified impacts, risks, and opportunities (IROs) related to Own
Workrforce, as well as the corresponding policies, actions and targets. Furthermore, BRD Group’s progress and
the result of the policies, measures and targets is also presented
.
The information reported under this chapter refers to all employees and non-employees that could be influenced
by BRD Group activities.
Strategy
S1-SBM 3-13 a S1-SBM 3-13 b S1-SBM- 3-16 | The confirming the In employees are crucial for achieving the strategic ensuring the model transformation needs to be accompanied optimal organizational set-up, and creating opportunities. To established processes engagement workforce insights into that and address workforce impacts effectively. Impacts Related to Own Workforce The positive and negative collective connected employees. For instance, to supports business collective bargaining enhances employee participation, fostering a collaborative workplace culture initiatives are embedded in business minimizes risks and as growth, customer-centric solutions. In the context employees based on gender. While BRD Group remains committed to its Diversity, and Inclusion (DE&I) commitment to an inclusive workplace. These identified impacts contribute to the ongoing adaptation business model through: |
S1-SBM
3-14 c
-
Policy Development:
annual SG Barometer, provide valuable insights into workforce concerns and areas for
improvement. These insights are used to refine policies and practices, targeting
alignment with employee needs and expectations.
-
Leadership and Training Initiatives:
leadership development are tailored to address identified workforce impacts, supporting
a culture of continuous improvement and resilience.
-
Flexibility and Accessibility:
workforce groups, including vulnerable populations, drives enhancements in workplace
accessibility, flexible work arrangements and initiatives to promote well-being.
Activities Resulting in Positive Impacts
BRD Group carries out a wide range of activities that result in material positive impacts on
its workforce, aligned with its commitment to promoting a safe and equitable work
environment. These efforts positively affect both employees and non-employees (please
see the above categories).
The development of the employees’ competences is one of the important Human
Resources strategic goals. The training activities offered to the employees are meant to
develop their knowledge, improve their overall performance and support reskilling by
developing competences through forging a culture of feedback. These initiatives empower
employees and boost their confidence, enabling them to perform more effectively and
leading to increased job satisfaction and career advancement opportunities. Additionally,
the focus on reskilling prepares employees to adapt to evolving business needs, particularly
in dynamic areas such as digital transformation, ensuring they remain competitive and
valuable in the workforce. The culture of feedback embedded in the training process,
promotes open communication, mutual respect, and continuous personal and professional
growth, contributing to a supportive and inclusive work environment.
To strengthen the benefits of training activities, BRD Group has developed a training
strategy focused on developing commercial, technical, managerial and regulatory skills,
including risk management and compliance, for its employees. The diverse training options
address the needs of staff at various levels (juniors, seniors, experts / specialists), through
a mix of theoretical and experiential learning.
This approach involves participants directly
in selecting their training activities and identifying their needs in collaboration with their
managers.
Each year, the Training Plan is built based on the strategy of the Bank and considering the
needs and priorities set by each pole of activity regarding the competencies necessary to
be developed in the specific areas of activity under the Strategic Workforce Planning. The
Training plan supports the up-skilling and re-skilling of employees, to better answer to
business requests, while respecting the legal and regulatory professional requirements and
certification for certain functions.
Risks Related to Own Workforce
S1-SBM
3-13 b
S1-SBM-
14 d
S1-SBM
3-16
The rising stress levels across Europe, driven by economic pressures and demanding work
environments, pose a growing risk to employee wellbeing and organizational performance.
Unmanaged stress could lead to higher turnover rates, impacting health, safety and overall
productivity. The annual employee Barometer deployed all over SG Group entities revealed
rather high level of stress of employees and a decrease of the employees’ satisfaction on
work life balance, including in BRD Group. This was considered a focus of attention to be
looked into in order to improve the indicators, prevent the stress, burnout and a socio-
psychological risks, and increase the emotional safety and wellbeing at work. To address
these essential challenges and to foster a healthy workplace and ensuring long-term
success "MIND BRD - well-being and stress prevention" program was implemented in
collaboration with Private Health Network Regina Maria facilitating meetings with
experienced psychologist and in the field of emotional health. Additionally, the program
includes a dedicated helpline for psychological support and counselling, available 24/7.
During the DMA, a key risk identified relates to training and skills development. Specifically,
inadequate training and education processes may leave employees without the essential
skills and knowledge to perform their roles effectively. This could result in reduced
productivity, stifled innovation and negative financial performance. This risk is particularly
acute in the context of the digitalization of banking services, where evolving technologies
demand new skill sets. The lack of comprehensive training and education programs can
result in employees not acquiring the necessary skills and knowledge to execute their
responsibilities effectively. This gap can lead to a decline in productivity, hinder innovation
and ultimately affect financial performance. The situation is particularly pressing as BRD
Group progresses with its digitalization efforts, where the need for advanced, up-to-date
skills is crucial to staying competitive and ensuring operational efficiency in an increasingly
technology-driven landscape.
The Group’s People Ambition pillar directly addresses this material risk through strategic
initiatives designed to ensure the workforce remains skilled, adaptable, and committed.
Key components of this relationship include:
-
Alignment with Strategic Objectives:
innovation strategies depend on a workforce equipped with the requisite skills to drive
these changes. Addressing training gaps ensures alignment between human resource
capabilities and broader business goals.
-
People development
and in the same time developing and retaining our talents and detecting the next
generation leaders.
To manage the identified risk, BRD Group integrates workforce training and development
into its business model through:
-
Comprehensive Training Programs:
focused on the continuous development of our employees' skills, such as in digital
technologies, data management, but also technical banking and operational skills and
other key areas. The plan includes certifications that ensure employees acquire the
necessary competencies to perform their roles effectively.
-
Performance Metrics:
and linked to key performance indicators (KPIs) to ensure alignment with strategic
objectives.
S1-SBM
3-14 e
-
Long-term Investments in Human Capital:
Group strengthens its foundation for sustainable growth and enhances its ability to adapt
to an evolving industry landscape. Continuous learning remains our HR primary focus,
through a still increasing role of HR Business Partners (HRBPs), with the support of HR
experts and contribution of managers in people development. At the same time we forge
a culture of self-development where the employee is the first actor of his/her career path
and learning journey.
We promote self-development by making training more attractive
(hybrid, videos / digital learning, tutorials, technical mentoring, reverse mentoring) and
by continuing to develop leadership skills and help our managers to be more empowered
on their HR role. Continuous learning is enhanced by the internal mobility as well, by
giving priority to internal candidates and supporting them with upskilling and reskilling
actions, where necessary.
Green Transition Impact on Own Workforce
Although the transition does not have a direct impact on BRD Group’s own workforce, BRD
Group is preoccupied with the potential effects. To ensure good planning and alignment
with international agreements on carbon emission reductions BRD Group implemented the
ESG Academy, with the purpose to equip the staff with the knowledge and skills enabling
contribution to the sustainability business objectives.
The learning journey continued in 2024 on both awareness and expertise with courses
designed to enhance BRD Group’s understanding and application of ESG practices.
In ESG Academy, a series of five courses in the format of short e-learning designed as a
fundamental level was allocated to all SG staff, including BRD Group. Depending on the
specific of activity and on the expertise level, other courses are designed and delivered to
specific target population.
The awareness workshops “Climate Fresk”, started in 2022, were continued during 2023
and 2024. The primary aim of the Climate Fresk workshops is to enhance participants'
understanding of climate change and its implications, by equipping employees with the
knowledge and tools to develop actionable ideas. This program empowers both individuals
and organizations to actively contribute to mitigating the adverse effects of climate change.
Over 2,000 employees participated to this training, showing their high level of implication
and placing BRD at the top of the SG Group in terms of participation rate.
Operation at Risk of Incidents of Forced Labour or Compulsory labour, and Child
Labour
BRD Group has no such operations and is committed to maintaining high ethical standards
and compliance with national laws regarding forced labour and child labour. BRD Group
has established strict internal policies that prohibit any form of forced labour or child
labour within its own workforce. These policies are regularly reviewed to ensure alignment
with current legal requirements. BRD Group provides a fair, safe, and respectful work
environment for all employees and actively monitors and enforces these policies to prevent
any violations. Considering its business model, BRD Group didn’t identify operations at
significant risk of incidents of forced labour or compulsory labour, and child labour.
Categories of Vulnerable People
S1-SBM
3-14 f, g
S1-SBM
3-15
BRD Group identifies categories of vulnerable people and, through the Diversity, Equity and
Inclusion program, has established a targeted action plan to address these categories. The
main priorities include: a) accessibility of people with disabilities, b) gender related issues,
c) LGBTQ+ rights, d) ethnical background and diverse socio-economic origins and e)
generational differences.
More details are included in the next Section Impacts, risks and opportunities
management.
Employees at Risk of Harm
Even if no specific analysis was performed, BRD Group is aware that the people in front
office and employees from contact centre are at greater risk, giving the fact that they work
with both internal and external clients.
Impacts, risks and opportunities management
S1-1 MDR-P 65 a | Policies Related to Own Workers This related to its own workforce, ensure an with regulatory requirements. work environment while mitigating potential risks and maximizing positive outcomes. Human Resources Policy Through the its efforts The policy Policy promotes trust and engagement contributing to strengthening social responsibility. BRD Group's Human Resources Policy and creating defines encourage their efficient management throughout the BRD Group. The objectives strategic recruitment management, succession planning, remuneration, and social relations. The covering all the areas mentioned above. Depending on of controls is monthly, quarterly, The Human Resource Policy is applied to all the employees of BRD Group. |
MDR-P
65 b
MDR-P
65 c
MDR-P
65 d
MDR-P
65 e
MDR-P
65 f
MDR-P
65 a-b
MDR-P
65 c
The Human Resources Director (HRD) is accountable for the implementation of this policy,
reporting directly to the CEO and the BoD.
The Human Resources policy is aligned in principle with the SG normative framework.
Furthermore, as part of the SG Group, BRD Group respects the Global Agreement on the
rights of Société Générale Group employees concluded with UNI Global Union in
accordance with the guidance given by the United Nations Guiding Principles on Human
Rights and adherence to OECD Guidelines for Multinational Enterprises.
In setting this policy, BRD Group takes into consideration Romanian legal provisions and
standards specific to each type of activity. In addition, if compulsory from a legal point of
view, BRD Group also informs and consults the trade union representatives (e.g. for the
content of the Internal Regulation and other internal rules, which are of significant impact
on employment).
The Human Resources policy is available to all employees. The HR department ensures that
any updates to the policy are promptly communicated to employees. Significant
modifications are announced through official normative communications and are easily
accessible on the internal website, ensuring transparency and clarity for all staff.
Remuneration Policy
The aim of the Remuneration policy is to enhance the efficiency of remuneration for
attracting, motivating and retaining employees who contribute to the long-term success of
the BRD Group in the context of proper risk management and in line with the in-force
regulations. The policy applies to all BRD Group employees and covers the material IROs
related to the “adequate wages” and “gender equality and equal pay for work of equal
value”.
The Remuneration Policy is continuously adapted to align with the BRD Group’s culture,
growth and profitability objectives, long-term strategy, and control framework. It promotes
sound and efficient risk management, incorporating sustainability risk considerations since
March 2021. The policy also plays a crucial role in limiting and controlling operational risks
by discouraging excessive risk-taking and fostering prudent behaviour. Employee
remuneration is structured to recognize both individual and collective performance while
encouraging teamwork and adherence to the BRD Group’s strategic goals. Performance
evaluation is conducted within a multiannual framework, integrating financial and non-
financial criteria such as accumulated knowledge, personal development and contribution
to team performance. The monitoring process involves regular reviews to ensure alignment
with the BRD Group’s objectives, risk framework, and evolving regulatory requirements,
reinforcing a sustainable and responsible remuneration structure.
The highest level of accountability for the implementation of the Remuneration Policy
within BRD Group lies with the BoD. With recommendations from the Remuneration
Committee, the BoD approves and periodically reviews the principles of the policy, as well
as the rules governing its application. Additionally, the BoD ensures the correct and
MDR-P
65 d
MDR-P
65 e
MDR-P
65 f
MDR-P
65 a
S1 1-23
MDR-P
65 b
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effective implementation of the policy, aligning it with the organization's strategic
objectives, risk management framework and regulatory requirements.
The BRD Remuneration Policy and practices respects:
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by Regulation 2/2022, CRD V, delegated Regulation (UE) 923/2021, MiFID II, Volker
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In setting the Remuneration Policy, BRD Group carefully considers the interests of key
stakeholders, including employees, regulatory bodies, and market competitors, to ensure
a fair, competitive, and sustainable remuneration structure. Periodic remuneration studies
are conducted in collaboration with specialized firms to assess the market positioning and
maintain a competitive compensation package within the banking sector. The data
gathered from these studies is analyzed with a focus on relevance and comparability,
ensuring that the remuneration framework aligns with industry standards, while remaining
fair and transparent.
The remuneration policy is available on the intranet. Each employee must understand and
correctly measure the importance of elements that compose his/her total remuneration
(e.g: the ratio between fixed and variable parts of the total remuneration, social protection
elements, pensions and other advantage).
Occupational Health and Safety Policy
BRD Group recognizes the critical importance of occupational health and safety (OHS) in
ensuring the well-being of its employees and collaborators. To mitigate and manage health
and safety risks, BRD Group has established a robust occupational health and safety
management system that enables the identification, mitigation, and, where possible,
elimination of workplace hazards. This system is fully aligned with Romanian legal
requirements, specifically Law 319/2006, and focuses on key areas such as employee
training, health surveillance, risk identification and assessment, implementation of
preventive and protective measures, and the investigation of work-related incidents.
Compliance with OHS regulations is continuously monitored by the Internal Prevention and
Protection Service, workplace managers and designated health and safety personnel,
ensuring adherence to safety protocols and the maintenance of safe working conditions.
Furthermore, special attention is given to vulnerable categories of employees, and
reporting mechanisms, such as dedicated email addresses for administrative services, are
in place to address workplace concerns. The policy covers the material IROs related to the
sustainability matter “Health and safety”.
The Occupational health and safety policy of BRD Group applies comprehensively to all
employees, regardless of their role or seniority, and external collaborators, including leased
personnel, ensuring a safe and healthy work environment for all stakeholders involved in
its operations. The policy has no exclusions and is implemented across all business activities
and locations where BRD Group operates.
The highest level of accountability for the implementation of the health and safety policy
within BRD Group rests with the CEO. The Internal Prevention and Protection Service,
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operating within the Human Resources Department, is responsible for managing all aspects
of OHS.
The Occupation Health and Safety policy of BRD Group is designed with a focus on the well-
being of employees. In setting the policy, BRD Group considers the interests of its
workforce by aligning health and safety measures with national legislation, industry best
practices and voluntary commitments made under the SG standards. Employee feedback
is actively encouraged through dedicated communication channels, allowing concerns
related to workplace conditions to be addressed promptly.
Additionally, regular training and awareness programs ensure that employees and
collaborators are well -informed about safety procedures, risk prevention and emergency
protocols.
The obligations and procedures related to occupational health and safety are clearly
outlined in essential documents, including the Internal Regulations, Collective Labor
Agreement, Occupational Health and Safety Instruction and Internal Health and Safety
Rules, all of which are accessible to employees and collaborators, ensuring that staff can
easily access the latest guidelines and procedures.
Human Rights Commitment
Through the implementation of the Code of Conduct and the CSR policy, BRD Group is
committed to maintaining and improving the systems and processes that enable it to
ensure respect for human rights in its human resources operations and management, in its
supply chain and in its products and services.
As part of the SG Group, the BRD Group adheres to SG Group Transversal Statement on
Human Rights and operates with the utmost respect for the following principles and
commitments regarding human rights:
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Cooperation and Development);
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Policy development processes ensure that all new policies are reviewed and harmonized
with international human rights and labour rights standards. This guarantees that the
principles enshrined in the above-mentioned frameworks are reflected in BRD Group’s
internal governance and practices. Additionally, all international provisions on employment
that are mandatory under Romanian legislation are fully incorporated and respected within
BRD Group's operations. These provisions are embedded in the Internal Regulation of BRD
Group and the Collective Labour Contract, further reinforcing the alignment of our
workforce policies with international standards.
BRD Group’s internal procedures include and encourage the respect of the human rights
and International Labour conventions and the local labour code. For example:
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a-d
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through communication campaigns: e-mails, articles, internal conferences, screen
savers, etc. These encourage the freedom of speech and reaction of the employees
in case of non-compliances and inappropriate behaviours.
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of association and about the collective labour agreement, which is the result of the
negotiations between Union & bank, based on the right of association of the
employees.
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employees is promoted through webinars with medical specialists (ergonomics at
the office, anti-tobacco, nutrition, etc).
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promotes the work-life balance.
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internal regulation.
Through the Human Resources Policy and its related procedures, BRD Group focuses its
efforts on establishing and maintaining a trustworthy relationship with its employees. The
organization consistently promotes values such as diversity and inclusion, supports
employees throughout their professional careers, fosters a culture of responsibility,
recognizes individual contributions to BRD Group's performance, and encourages a work
environment that supports employee engagement through different events on topics such
as career opportunities, diversity and inclusion, freedom of speech, innovation. Through
consistent communication(newsletters), BRD Group collects feedback from union
representatives during meetings, where they share employees' perspectives on various
projects and aspects related to the implementation of the collective labour agreement.
Additionally, union representatives provide further insights into employees' views through
email correspondence or phone conversations for clarification purposes.
BRD Group has implemented comprehensive measures to provide and enable remedies for
human rights impacts arising from its operations and business relationships. BRD Group
actively engages in stakeholder dialogue and uses established grievance and
whistleblowing mechanisms to identify, address and remediate any negative human rights
impacts. These mechanisms are accessible to customers, employees and suppliers,
ensuring that concerns can be raised transparently and securely.
For employees, BRD Group has established robust grievance mechanisms designed to
address complaints and concerns promptly and fairly. These processes ensure that
individuals impacted receive the appropriate support and that remedial actions are
implemented effectively. Through these mechanisms, BRD Group demonstrates its
commitment to upholding human rights and maintaining an ethical and responsible
approach to its business practices.
Elimination of Discrimination and Promotion of Equal Opportunities
BRD Group strongly promotes the values of diversity, non-discrimination, inclusion and
equal opportunities in the workplace. This commitment was empowered in 2018 by signing
the Romanian Charter of Diversity. By signing this Charter, the signatory publicly commits
to support, protect and develop diversity within the organization.
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Non-discrimination and equal opportunity principles are included within the general
Human Resources Policy and in all the specific procedures related to the entire human
resources process (recruiting, development, training, career management), ensuring that
all applications and qualifications are assessed impartially based solely on competencies.
The policy includes commitments aimed at promoting inclusion and positive action for
individuals at risk of vulnerability. The implementation of policies is reinforced through
regular compliance checks, monitoring mechanisms, and internal controls, ensuring a
proactive and structured approach to fostering a diverse and inclusive workplace.
To prevent discrimination and harassment, BRD Group ensures compliance with internal
policies and procedures (such as the HR Policy, Compensation Policy, and Internal
Regulation), conducts dedicated training courses and Speak-up events. Employees are
given unconditional access to all internal normative documents and channels through
which they can report irregularities or discriminatory behaviour.
As an equal opportunities employer, BRD Group offers career opportunities to applicants
and employees regardless of gender, sexual orientation, genetic characteristics, age,
gender, race, colour, language, religion, political choice, social origin, disability, family
status or responsibility, family affiliation or trade union activity or any other characteristic
protected by applicable laws and regulations.
As such, BRD Group mitigates discrimination through bias-free recruitment, fair
compensation and benefits policies, and career management practices that ensure equal
pay for equal work and fairness in promotions. Monitoring and reporting of discrimination
cases are explicitly detailed in the Internal Regulation, with procedures for addressing such
cases, including mediation, formal investigations, training on anti-discrimination policies,
or disciplinary actions based on the severity of the incident.
Processes for Engaging with Own Workforce
At BRD Group, employee engagement occurs both directly with the workforce and through
workers' representatives. The Human Resources Director, who reports directly to the CEO
is responsible to oversee this engagement. The Human Resources Director coordinates
directly the Social Dialogue Direction, and one of the main attributions of the HR
department is to contribute to maintaining a favorable social climate and to manage the
relation with the employee’s representatives.
Regular meetings with employee representatives are held at least quarterly, with additional
meetings scheduled upon request from either party. These discussions with employees
representatives cover a wide range of significant topics, including working conditions,
remuneration, health and safety, and working time - essentially addressing any issues that
impact the workforce. Additionally, there is direct communication between the Bank's
representatives and employees affected by organizational changes or reorganization
projects that may impact their work.
Furthermore, BRD Group actively engages with the trade union, addressing labour relations
issues and negotiating additional rights beyond those mandated by law. The Collective
Labor Agreement (CCM) outlines these terms, covering areas such as compensation,
benefits, working time, health and safety, vocational training and social dialogue. The trade
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union is also involved in the development of the training plan and participates in quarterly
meetings where the Bank's results are presented. Additionally, the Bank operates a Health
and Safety Committee with a mixed composition of Bank and union members, and the
trade union is invited to the Board of Directors meetings to discuss matters of professional,
economic, and social interest with potential impacts on labour relations.
Employee engagement is further assessed through the SG Barometer, an annual
international survey that allows employees to share their views on key company topics,
including engagement, management relationships, sustainability efforts and working
conditions. The results of the Employee Barometer are carefully analyzed and help guide
the creation of an action plan to improve employee perceptions and satisfaction. For 2024,
the participation rate of BRD employees was at 76% and the engagement/ commitment
was stable at a high level of 75%. Many of the employees are proud to work for SG Group
and have a sense of personal accomplishment.
SG Group and UNI Global Union concluded in 2023 a new 4-year global agreement on
fundamental rights. This agreement applies to all the subsidiaries, including BRD Group.
Through this agreement, SG confirms its commitment to respects the United Nations
guiding principles on business and human rights, to avoid harming human rights and to
strive to remedy any adverse effects on human rights in its activities and business lines,
including the implementation of reasonable measures to prevent, mitigate and, where
appropriate, remedy them, in accordance with the guidance given by the United Nations
Guiding Principles on Human Rights. At BRD Group level, the agreement is communicated
to the employees and is available for consultation.
Vulnerable Groups
BRD Group takes proactive steps to gain insight into the perspectives of individuals within
its workforce who may be particularly vulnerable to impacts or marginalized. Vulnerable
groups are identified based on criteria established through the Bank’s Diversity, Equity, and
Inclusion (DEI) program. This program has an action plan specifically designed to address
key areas of vulnerability, including accessibility for people with disabilities, gender-related
issues, LGBTQ+ rights, ethnic background and socio-economic diversity, and generational
differences.
Since 2023, BRD Group has included a targeted question in the annual SG Barometer survey
in Romania to better understand the experiences of employees who identify as part of a
minority. This question explores their perception of inclusion and acceptance, considering
various forms of minority status such as ethnic or cultural background, disability, sexual
orientation, socio-economic status, or other factors.
The survey responses are handled with strict confidentiality, ensuring that no individual
names are disclosed, and only aggregate statistical data is used. This approach enables the
Group to monitor perceptions of inclusion, identify areas for improvement, and strengthen
its commitment to fostering a diverse and supportive work environment.
Processes to Remediate Negative Impacts and Channels for its Own Workforce to Raise
Concerns
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32,33
BRD Group has established a formal procedure, according to the legal provisions, for
complaints of the employees regarding harassment, discrimination, or any other abusive
practices. This procedure is part of the Internal Regulation. All employees can send their
complains/grievances to a dedicated email address, which is managed by a limited number
of HR personnel to ensure confidentiality. Additionally, designated personnel are mainly
from HR, but also from compliance, legal and also from Union representatives, if the case
(if requested by employees). Beyond the dedicated email, employees also have alternative
channels for reporting concerns, including reaching out to their direct superiors, the
superiors of other employees, or dedicated HRBPs, ensuring multiple ways for support and
resolution. All employees are protected against retaliation by the provision of the Code of
Conduct.
Upon receiving a complaint via the dedicated email, the relevant team assesses its validity.
If the complaint lacks necessary details, the employee is asked to provide more
information. Without sufficient details, the procedure won’t proceed, but minimal
protective measures may be taken. If the complaint is complete an investigation can begin.
Before forming an investigation commission, HR may organize mediation with the involved
parties. If mediation resolves the issues, no further investigation is needed. Otherwise, a
commission (HR, Legal, Compliance and sometimes Union representatives) will investigate
through interviews and issue a final report with recommendations. Depending on the
findings, disciplinary actions may follow.
The complaints/grievances received via the dedicated email address are easily traceable,
as an online register is maintained with details of each case. In addition, reports regarding
the cases and their resolutions must be submitted to the HR Executive Director in the first
quarter of each year for the previous year. If employees who have filed complaints are not
satisfied with the outcome, they have the option to submit new complaints either through
the dedicated email address or via other available channels.
The assessment related to what extend BRD Group employee are aware and trust the
channels available to raise complaints/grievances is realized through the Employee
Barometer survey. According to employee's opinion collected through this survey, they
trust the process and are confident in its effectiveness.
To foster an environment of transparency and trust, BRD Group actively implements
initiatives designed to nurture a Speak-Up Culture. Thus, in April 2024 BRD Group organised
an internal conference “TRY Learn Innovate” on the importance of trying to innovate, even
when the result is not always the expected one, while in November 2024 the conference
“Inclusion - Truth or dare” was organised, encouraging colleagues to express their thoughts
and listen to each other's experiences helping to build a more inclusive organizational
culture. These actions encourage employees to voice concerns without fear of retaliation,
reinforcing the organization's commitment to ethical conduct and integrity.
BRD Group acknowledges the material negative impact of gender pay gaps and unequal
opportunities, which can lead to discrimination and dissatisfaction among staff. To address
these disparities and foster a more inclusive workplace, the Bank has implemented a series
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39
of initiatives. This include structured Diversity, Equity, and Inclusion (DE&I) programs,
awareness campaigns, leadership development initiatives, and external partnerships.
To assess the effectiveness of these measures, BRD Group actively engages employees
through working groups focused on key DE&I priorities, including gender equality. The Bank
has integrated DE&I training into leadership development programs, ensuring that
managers and decision-makers are equipped to promote fairness and inclusivity.
Additionally, internal communication channels, such as newsletter and dedicated
workshops, help raise awareness and encourage open dialogue on diversity-related
challenges.
BRD Group also collaborates with external organizations, such as the Romanian Diversity
Chamber of Commerce, to align with best practices and reinforce its commitment to equal
opportunities. Specific actions like inclusive recruitment policies and awareness events—
such as the "Inclusion: Truth or Dare?" internal conference and initiatives supporting
individuals with disabilities—demonstrate ongoing efforts to create an equitable work
environment. Through these initiatives, BRD Group monitors progress in mitigating gender-
related disparities and fostering a culture of inclusion, ensuring that its remediation efforts
are effective and aligned with its sustainability commitments.
BRD Group monitors every year the pay gap between men and women and its evolution
over time and implements corrective measures, if necessary. The differences are analyzed
individually, after comparing same function occupied and same level of responsiveness
between women and men, and if there are no objective arguments to explain them (e.g.:
skills & expertise, managerial responsibilities, studies, job specialization, length of
professional experience, nature of tasks, geographic location), then there will be taken
measures to correct differences.
Another measure already implemented is for workers returning from parental
leave/maternity for which a systematic review of the pay level is carried out on return to
work in order to correct and prevent possible pay gaps between women and men.
Actions Related to Own Workforce
To ensure the proper management of the material IROs, BRD Group allocates dedicated
resources. These efforts are managed by specialized teams within the Human Resources
department, following established procedures that include continuous monitoring,
controls, and periodic reviews.
Actions to prevent, mitigate and provide remedy to the pay gap
BRD Group has implemented a series of actions focused on ensuring fair and competitive
remuneration for its employees, in line with its commitment to recognition and employee
satisfaction.
One of the actions is the ongoing annual adjustment of fixed remuneration for all
employees, regardless of gender, which is driven by comprehensive wage studies that
benchmark each job role against market standards. These studies are conducted to ensure
that the Bank's salary structure remains competitive within the banking sector and aligned
with market trends. Fixed remuneration is closely linked to employees' professional
experience, skills and organizational responsibility, ensuring internal equity and fairness,
regardless of gender. Additionally, the Bank’s collective agreement guarantees all
employees receive additional benefits, including a base salary that is higher than the
statutory minimum wage required by law.
As part of the ongoing commitment to improving employee satisfaction, the bank conducts
an annual employee survey, the SG Barometer, which includes the question, "I feel
recognized and valued for my work." According to the results from the most recent survey,
72% of employees expressed feeling appreciated for their contributions, indicating a
positive response to the remuneration and recognition efforts. The Bank is committed to
using these survey results to refine its practices in respect to remuneration in order to
prevent and mitigate the pay gap.
Furthermore, BRD Group has taken concrete steps to ensure that its benefits package
extends beyond legal requirements, for all employees. As part of the 2024 negotiations
with the sector-level collective agreement, BRD Group has secured additional benefits,
including an anniversary bonus and a loyalty bonus. These benefits were negotiated at the
BRD level through the Collective Labor Agreement (CCM), ensuring that all employees,
regardless of gender, receive rewards beyond the industry-standard offerings. These
bonuses reflect the Bank’s fair recognition of employees’ loyalty and long-term
contributions.
In terms of market competitiveness, the Bank conducts regular analyses to ensure that its
salary and benefits package remains attractive and aligned with both legal requirements
and the broader banking sector's trends. The results of these studies are used to refine
remuneration policies, adjusting both fixed and variable compensation structures to
maintain a competitive edge.
As mandated by the Remuneration policy, BRD Group annually reviews the pay gap and its
evolution over time. The pay gap is analysed to reveal whether there are objective
arguments to explain the differences in remuneration, for example: skills and expertise,
education, managerial responsibilities, specialization of the position held, length of
professional experience, nature of tasks. If objective arguments exist, BRD Group
implements corrective measures, thus providing remedy for those negatively impacted. In
addition, they pay gap is a topic of discussion during periodic meetings with employee
representatives.
The scope of these actions impacts all BRD Group employees, with particular focus on those
directly impacted. By continuously monitoring employee satisfaction through the SG
Barometer and conducting regular wage studies, BRD Group ensures that its remuneration
policies are fair and responsive to employee needs, as well as properly designed to address
the pay gap, while remaining competitive within the industry.
Actions Implemented to Ensure the Positive Impacts Related to Freedom of Association
BRD Group has taken several actions to support employee rights and enhance social
dialogue through its trade union. The presence of a trade union within the organization
significantly strengthens the protection of employees' rights, providing a structured avenue
for employees to raise concerns and ensure their rights are respected. One of the key
actions taken is the active promotion of union membership and involvement. The contact
details of the trade union are included in the induction presentation for new employees,
and union leaders have participated in induction sessions to familiarize new employees
with the union organization. This approach ensures that employees are well-informed
about their rights and the support available to them through the union.
The Group organizes quarterly meetings between top management and trade union
representatives, during which financial results and other key matters are discussed. This
practice ensures regular communication between management and employees, fostering
a collaborative environment and strengthening the bargaining power of the union for
negotiating the Collective Labor Agreement (CCM). The union also benefits from support in
its activities, with facilities such as office space, office supplies, and access to a bank car
provided for union-related tasks. In addition, the Bank has allocated a special room in the
BRD Tower for union activities and granted the union the use of Outlook for
correspondence.
As part of its commitment to fostering a positive working environment, BRD Group has also
supported the union's efforts to improve social dialogue and solidarity among union
members. For instance, the Bank provided financial support for organizing a sports event
aimed at enhancing the cohesion between union members. Moreover, union
representatives are allowed to attend union events during working hours, with HR ensuring
that managers understand the importance of such activities and support union leaders'
participation, as long as work continuity is not compromised.
Union membership is quite significant within the company, with 39% of BRD employees
and 65% of BRD Sogelease employees being union members as of December 31, 2024. The
union, which is part of the Federation of Financial Industry Unions, is an essential partner
in ensuring that employees’ voices are heard and that their interests are defended in
negotiations. The positive impact of the trade union contributes to stronger employee
representation, better working conditions and a more robust social dialogue within the
organization. The BRD Group’s approach reflects its commitment to fostering a supportive
and inclusive work environment where employees feel valued and empowered to express
their concerns.
Actions Implemented to Ensure the Positive Impacts related to Collective Bargaining
BRD Group has actively participated in sector-wide and company-level Collective Labor
Agreements (CCM) that have had a positive impact on employee rights and benefits. The
sector-wide CCM, negotiated in 2024, was the first collective agreement in the banking
sector and was later extended to all banks through Government Decision No. 1500/2024.
This agreement was highly appreciated by both the trade union and management, as it
provided employees with additional rights above the statutory requirements, such as
higher minimum wages, severance pay in the event of dismissal, holiday bonuses and social
welfare benefits. The sector-wide CCM also considered the specificities of the banking
sector, ensuring greater efficiency and clarity in work organization, such as work schedules
and breaks.
BRD Group also negotiated its own CCM with the union, which took about 5 weeks. This
agreement provided employees with several additional benefits compared to previous
agreements, including an increase in the minimum salary, meal vouchers, holiday vouchers,
bonuses for employees' children, and additional bonuses for Women's Day and the Bank’s
anniversary. Furthermore, the loyalty bonus was also introduced, recognizing long-term
service. While the sector-wide CCM sets a basic level of benefits, BRD Group’s CCM goes
beyond these minimum, offering more substantial benefits tailored to the needs of its
employees. For example, while the sector-level CCM mandates certain benefits, the specific
amounts and additional perks like the bonuses for employees' children or Women's Day
are subject to negotiations at the company level, where BRD Group has ensured better
compensation packages. The positive impact of these agreements is clear, as they improve
employees' financial well-being, recognize their contributions and provide a more
supportive working environment.
Identifying and Assessing Occupational Health and Safety risks
In 2024, BRD Group maintained its commitment to identifying and assessing occupational
health and safety risks as a foundational aspect of managing employee well-being. The
identification and assessment processes are in strict compliance with Romanian Law no.
319/2006 and are led by certified experts within the Internal Prevention and Protection
Service, as well as the occupational health doctor. These specialists are certified through a
postgraduate program authorized by the Romanian Ministry of Education and utilize a
methodology certified by the National Research and Development Institute for
Occupational Safety "Alexandru Darabont." This methodology evaluates risks based on four
key components of the work system: the worker, the work environment, work equipment
and work tasks. The risk assessment is continuously updated to reflect any changes in
working conditions, emerging risks (such as those posed by the COVID-19 pandemic or the
geopolitical context like the Ukraine War), changes in operating procedures or equipment,
as well as the findings from accident investigations, worker complaints, and referrals.
Additionally, changes in the workforce or workflow, along with health monitoring
assessments such as noise, vibration, and dust exposure, are also factors that drive updates
to the risk evaluation.
For 2024, the overall level of occupational risk at BRD Group was rated at 3 on a scale of 1
to 7, which is classified as acceptable. This indicates that while risks are present, they are
managed at a level deemed acceptable, and the preventive measures already in place are
effective and must continue to be maintained. Identified key risks include traffic and
commuting accidents, such as slips, trips, and falls during pedestrian movement or car
collisions, the risk of external violence for front-office employees, and musculoskeletal
issues like dorso-lumbar ailments resulting from improper posture.
Employees are encouraged and empowered to report any perceived risks directly to their
superiors, the Internal Prevention and Protection Service, or representatives within the
Occupational Health and Safety Committee. Furthermore, all workers are informed of their
right to leave their workplace if they believe it could cause harm to themselves or others,
in line with the legal framework provided by Law 319/2006. This comprehensive risk
assessment process ensures a proactive and dynamic approach to workplace safety, where
risks are constantly monitored, reported, and addressed to maintain a safe working
environment for all employees.
Health Promotion Among the Employees
BRD Group has adopted a diverse approach to promote employee health and well-being,
aligning with its commitment to social responsibility and workplace wellness.
An ongoing initiative involved the implementation and expansion of the "MIND BRD" well-
being and stress prevention program, introduced in September 2023. This program, in
partnership with Regina Maria Private Health Network, provides employees with various
emotional health resources, such as monthly webinars, specialized workshops for
managers and HR business partners, and a 24/7 Emotional Helpline offering confidential
counseling for employees and their families. Additionally, managers received training to
better identify early signs of stress, burnout, and emotional distress, enabling them to
support their teams more effectively and maintain a workplace environment prioritizing
emotional safety and well-being. The program aims to promote a positive work
environment by improving emotional health and equipping employees with tools for
managing stress and achieving a better work-life balance. It will continue through 2025 with
ongoing webinars and support.
The scope of the health and well-being initiatives is extensive, covering all BRD Group
employees across geographies, including both branch locations and headquarters. The
program's outreach extends beyond just employees, offering support for family members,
which broadens the impact to the community around the workforce. Additionally, the
company’s occupational health services, which include annual medical check-ups,
specialized investigations for employees exposed to occupational risks, and preventative
health packages, directly contribute to maintaining the physical health of the workforce.
These services are delivered by a specialized medical provider, ensuring that employees'
job compatibility is regularly assessed, with a focus on minimizing health risks.
Looking ahead, BRD Group aims to continue improving its employee health and well-being
programs. In 2025, additional specialized workshops for managers and HR personnel will
be introduced, focusing on stress and emotional health prevention, ensuring that the
support system for employees is proactive. The Bank also intends to continue offering
health care plans, including free flu vaccinations, annual health screenings and access to
over 30 medical specialties through four healthcare providers. The Bank will monitor the
effectiveness of these initiatives through employee feedback and health metrics, and any
identified issues or areas for improvement will be addressed in a timely manner.
These actions contribute to achieving the company’s objectives of fostering a supportive
and healthy work environment, reducing stress-related issues, and improving employee
engagement. The planned actions, including the continued offering of health subscriptions,
wellness programs, and the focus on emotional health, will ensure that the company
remains committed to its policy of promoting employee well-being.
Occupational health and safety training activities
In 2024, BRD Group has continued to prioritize the health and safety of its employees
through a dedicated training program aimed at ensuring the proper implementation of all
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occupational health and safety policies and procedures. The company provided annual
training for all employees, including onboarding training for new hires and periodic
refresher sessions. Operational roles underwent training every six months, while managers
participated in annual training sessions. Employees completed e-learning courses
specifically dedicated to occupational health and safety.
In addition to these routine training sessions, the company also conducted supplementary
training after work accidents to review the causes and implement necessary preventive
measures to avoid similar incidents in the future. BRD Group's commitment to safety
extended beyond its direct employees, as the company also provided introductory training
for contractors and leased personnel, ensuring they received the same level of
occupational health and safety education and protection as BRD Group employees. Health
and safety clauses were included in contracts with suppliers providing on-site personnel
(e.g., cleaning and security services), and these contractors were required to undergo
specific health and safety training when they joined the company.
These actions were part of BRD Group's ongoing commitment to maintaining a safe and
compliant working environment for all employees, contractors, and leased personnel. By
ensuring that everyone involved with the company, from permanent employees to external
contractors, is properly trained and aware of the safety protocols, BRD Group has
reinforced its focus on preventing workplace accidents, reducing occupational health risks
and promoting a culture of safety across its operations.
The expected outcomes of all the actions prior mentioned, are improved employee
satisfaction, higher retention rates, and alignment with market standards, ultimately
contributing to the long-term success and stability of the organization. These actions are
part of a broader strategy to ensure that employees feel valued, recognized and fairly
compensated for their contributions to the company’s goals.
Training Activities
In 2024, BRD Group focused on an array of key actions aimed at fostering employee
development, aligning training efforts with both organizational and sustainability goals, and
enhancing leadership behaviors, diversity, and inclusion. The key action referred to a robust
and diversified annual training plan, aimed at strengthening employee performance,
aligning skills with market demands, and supporting the Group's sustainability efforts.
The training strategy incorporated various learning formats such as technical training, soft
skills courses, team-building workshops, e-learning, and in-person sessions. Key areas of
focus in the training included customer relationship management, data management,
communication, sales techniques, stress management, conflict resolution, simplification
mindset, and teamwork. These courses were complemented by webinars and coaching
sessions to offer tailored support. In addition, leadership training continued to be a
significant focus, notably through the Rise Up Journey Leadership Program, which was
designed to improve the leadership skills of managers at all levels. The program, launched
in 2022, successfully exceeded 80% of the managerial population by 2024, focusing on
behaviors such as positive recognition, collaboration, and fostering a diverse, inclusive
environment. This leadership initiative was aligned with the Bank’s core values and helped
reinforce a culture of continuous feedback, openness to change, and promoting
simplification in processes.
As part of BRD Group’s commitment to sustainability, the ESG Academy was introduced to
equip employees with the knowledge and skills needed to meet the Bank’s sustainability
objectives. Details were already presented in a previous section.
The scope of these actions covered all levels of the organization, from new recruits to senior
management. In 2024, BRD Group continued to prioritize internal mobility, focusing on
giving priority to internal candidates for new positions, complemented by upskilling and
reskilling initiatives. This approach reduces reliance on external hiring and ensures that
existing employees are given opportunities to grow and develop. Internal programs such
as the INSPIRE events, which began in 2022, continued to encourage the sharing of
inspirational experiences and best practices among employees, further supporting a
culture of learning and growth. Additionally, BRD Group participated in job fairs and
university events, such as the Mindcraft Academy, aimed at attracting young talent and
fostering connections with potential candidates who are aligned with the Bank’s values and
objectives.
The time horizons for these key actions were set across various timelines. For example,
Leadership Programs are ongoing, and expected to continue through 2025, aiming to
ensure continuous leadership development. The ESG Academy will also persist, with new
courses being introduced each year to align with evolving sustainability practices and
business needs. The Climate Fresk workshops are designed to reach broad audiences within
the organization over the span of multiple years, ensuring long-term engagement in
sustainability issues. The internal mobility strategy, including the restart of Open Days and
INSPIRE events, is ongoing with a goal to consistently encourage employee development
and foster internal talent growth.
Regarding remediation and support for affected individuals, BRD Group has actively taken
steps to address skill gaps and ensure a positive impact on employees. This includes the
upskilling and reskilling initiatives that were put in place to meet the changing demands of
the business, as well as leadership programs that offer psychological safety and wellbeing
support for managers and staff (i.e. MIND BRD program). Furthermore, feedback from
employees who attended these training sessions has been overwhelmingly positive,
indicating that these programs are effectively addressing the professional and personal
needs of the workforce.
Looking ahead, BRD Group aims to continue its efforts to integrate ESG principles into
employee development, with further training programs designed to align employees’
knowledge and actions with the BRD Group’s sustainability goals. The ESG Academy and
other related programs will remain central to these efforts, fostering an organization -wide
culture of sustainability. Furthermore, BRD will continue its work on internal mobility,
providing employees with greater opportunities for career development and enhancing the
pool of internal talent, ultimately leading to improved business performance and employee
satisfaction.
Metrics and Targets
S1 5-46
S1 5-47
MDR-T
Established Targets Related to Own Workforce
“Responsible Employer” is a fundamental pillar of the BRD Group’s Sustainability Strategy,
establishing the key objectives related to its own workforce. Through the implementation of
the established targets, BRD Group is committed to offering an attractive and engaging working
environment, promoting and implementing Diversity, Equity and Inclusion, and fostering
people growth by developing skills & competences in line with the business strategy and with
the leadership model.
Table 14 - Targets |
Obtain an employee engagement rate of 80% in 2027 |
Obtain an employee inclusion rate of 92% in 2027 |
Obtain a wellbeing score of 7.5 in 2027 |
The set targets align with the goals of the Human Resource Policy, which focuses on creating a
positive and inclusive work environment, improving employee satisfaction, and encouraging
organizational commitment.
The targets are obtained through the annual employee self-assessment by responding to a
series of questions in the SG Barometer, in the form of grades on a scale from 1 to 10 (1 being
the lowest, 10 the highest grade). The index is the average of these grades, expressed in the
form of percentage.
Employee engagement at BRD Group refers to the commitment, enthusiasm, and emotional
connection employees have toward their work and the organization. Engaged employees are
motivated and aligned with the Group's goals. In BRD Group employee inclusion means
fostering a workplace where everyone feels valued, respected and empowered, regardless of
their background. Employee wellbeing refers to creating a supportive environment that
prioritizes physical, mental and emotional health.
Inclusion rate is defined based on the employee's answer to the question: "I feed included and
accepted as I am."
Well-being at work refers to a general feeling of satisfaction and fulfillment in and through
work. To do so, the Employee Barometer provides a better understanding of the well-being at
work of employees through twenty questions grouped into eight dimensions: work
organization, work environment, workload management, change management, emotional
commitment, social relationship, culture and values adherence, professional projection.
The defined targets apply to all BRD Group employees and are measured as a percentage of
the total employee engagement rate within the organization. For each target has been
established a baseline value, with the base year being 2023, for measuring the progress
towards the achievement of the targets (employee engagement rate of 77%, inclusion rate of
89% and wellbeing score of 6.7). These values serve as the starting point for tracking
improvements.
To ensure steady progress, annual milestones have been set:
S1 6-50
a
S1 6-50
b
-
80% in 2027;
-
-
The targets were defined on previous years engagement results, internal benchmarks within
SG Group – including comparisons with the entire SG Group and the Eurozone – and external
benchmark from Bank Finance Insurance Worldwide
-
RED bench
. The objective was to
establish targets with a focus on consistent upward trends, ensuring measurable progress. This
approach was informed by the positive performance levels observed in previous years across
the three indicators, which positioned the Bank favourably in comparison to industry
benchmarks. The results are monitored annually, allowing for performance tracking and
continuous improvement.
Following each SG Barometer assessment, areas requiring enhancement are identified, and a
corresponding action plan is developed to address specific needs. Improvements are also
identified from discussions with the Union related to working relations and working climate.
Metrics Related to Own Workforce
This section presents the key workforce metrics that have been identified as material for
tracking BRD Group’s performance in relation to the material IROs. These metrics provide
insights into the effectiveness of the Group’s workforce management strategies and its
commitment to fostering a fair, inclusive and sustainable work environment.
Characteristics of BRD Group’s employees
Table 15- Employees broken down by | |
2024 | |
Gender | Number of employees |
Male | 1,495 |
Female | 4,748 |
Other | Not applicable |
Not reported | Not applicable |
Total | 6,243 |
Table | ||||
2024 | ||||
Female | Male | Other | Not reported | Total |
Number of employees | ||||
4,748 | 1,495 | Not applicable | Not applicable | |
Number of permanent employees |
31
representative samples of employees, in 40 countries. The companies in the Banking, Finance and Insurance sector represented in the RED
are top tier companies in the industry with impact in the respective countries. The reference to this benckmark of top companies allow us to
have a relevant comparison.
32
33
S1 6-50
c
S1 6-50
d, e, f
S1 7-55
a
S1 7-55
b,c
S1 7-57
4,512 | 1,444 | Not applicable | Not applicable | 5,956 |
Number of temporary employees | ||||
236 | 51 | Not applicable | Not applicable | 287 |
Number of non-guaranteed hours employees | ||||
0 | 0 | Not applicable | Not applicable | 0 |
Number of full-time employees | ||||
4,723 | 1,488 | Not applicable | Not applicable | 6,211 |
Number of part-time employees | ||||
25 | 7 | Not applicable | Not applicable | 32 |
Table 17 – Employee turnover
2024
Number
811
Percentage
12.8%
Note to data related to disclosure “Characteristics of BRD Group’s employees”
All employee data were reported as headcount at the end of the reporting year. Data do not
exclude any type of employee (i.e., active, inactive). Employee turnover includes both voluntary
and involuntary contract terminations but excludes the regular ending of agreed fixed-term
contracts or employees who left the company due to retirement.
Employee turnover is calculated as follows: the number of departures is reported relative to
the average headcount for the year 2024. The average headcount is calculated as the total
headcount at the end of each month divided by 12. Data are not an estimate. The data are not
validated by an external body. Reference to the most representative number in the financial
statements can be found in Note 1 Corporate information .
Table 18 – Non-employees
2024
Total number of non-employee workers in
own workforce
343
Out of which – self-employed workers
320
Out of which – workers provided by
undertakings primarily engaged in employment
activities
23
Note to data related to disclosure “Characteristics of non-employees”
Non-employee are individuals who are not directly employed by BRD, but which are either self-
employed individuals or contracted through a third party engaged in employment activity. All
data related to non-employees were reported as headcount at the end of the reporting year.
No significant fluctuation was observed during the reporting year. Data are not an estimate.
The data are not validated by an external body.
S1 8-60
a
S1 8-63
Collective Bargaining Coverage and Social Dialogue
As of the end of 2024, 97% of BRD Group employees were covered by collective bargaining
agreements. This includes all employees at BRD, as the collective labor contract at the company
level applies to all staff. The collective labor contract currently being negotiated at Sogelease
will apply to all Sogelease employees from the date of its registration in 2025. As for the other
subsidiaries there is no collective labor contract. Additionally, the collective labor agreement
concluded at the banking sector level applies only to BRD, as it is specific to banks, and not to
other subsidiaries. The Executive Board of IMPACT Trade Union has appointed representatives
within the Group European Works Council established at the Société Générale level. These
representatives also serve as the voice for subsidiaries in Romania, ensuring that employee
interests are communicated and considered at the European level.
Table 19 – Own | |||
Collective Bargaining Coverage | Social Dialogue | ||
Coverage Rate/country | Employees - EEA | Employees – Non-EEA | Workplace representation (EEA only) |
0-19% | - | - | - |
20-39% | - | - | - |
40-59% | - | - | - |
60-79% | - | - | - |
80-100% | Romania | Romania | |
S1-9 66-a
Note to data related to „Collective bargaining coverage and social dialogue”
All data are reported as headcount at the end of the period . The data are not validated by an
external body.
Diversity metrics
Table 20 – Gender distribution in number and percentage at top management level | 2024 | |
Number | Percentage | |
Female | 11 | 42% |
Male | 58% | |
Total | 26 | 100% |
S1-9 66-b
S1-10 69
S1 13-81-
a, b
Table 21 – Employees by age groups | 2024 | |
Number | Percentage | |
Under 30 years old | 1,201 | 19% |
Between 30 and 50 years old | 3,786 | 61% |
Over 50 years old | 1,256 | 20% |
Total | 6,243 | 100% |
Note to data relate to “Diversity metrics”
Top management is defined as members of Board of Directors and Executive Committee,
reported as headcount at the end of the reporting year. All data are reported as headcount at
the end of the period. The data are not validated by an external body.
Adequate Wages
BRD Group is committed to respect local laws and does not offer salaries below the local legal
minimum wage. Please refer also to the information reported under the section Action of this
chapter related to the Remuneration Policy.
Training and Skills Development
The performance management approach is at the heart of Human Resources management.
The formal evaluation will allow to assess individual contribution to the collective performance
and to define individual development plans and career development needs.
The Manager ensures that the employees’ objectives are aligned with the strategy and goals of
the Group, the entity and the team. A mid-year evaluation meeting is recommended in order
to have intermediary discussion. The evaluation (at the end of the year) must be objective,
taking into account the criteria and objectives established for the position. The manager
evaluates the employee performance, both in terms of results and how they have been
achieved.
Career management processes are customer oriented. HR Business partner provides assistance
and advice to management for all business lines and represents the interface for all human
resource aspects. For each entity, HRBP supports the recruitment needs management, mobility
and training.
S1 14 a-e
Table 22 – Career development, performance reviews and training hours | 2024 | |
Women | Men | |
Percentage regular reviews | 89% | 94% |
Average employee | 59 | 46 |
Note to data relate to “Training and skills development”
This data are determined based on the training reports that are generated from all active e-
learning platforms, including MyLearning, BRD IKnow LMS, Pluralsight (until June 30, 2024),
Bold Technologies, Coursera, and Udemy (starting November 2024). The total training hours
are calculated by summing the hours completed by employees, whether active or inactive,
during the selected year, using the criteria "Complete
”.
To calculate the average number of
training hours per employee, the total training hours are divided by the total number of
employees reported as headcount at the end of the year, segmented by gender. Standard
training includes hard skills and soft skills training, internal and external training (delivered by
internal trainers or external providers), training on specific topics, training on different formats:
face to face, virtual/online, e-learnings. One hour of training = 60 minutes.
Health and Safety metrics
Table 23 – Health and Safety | 2024 | |
Employees | Non-employees | |
Percentage of own workers who are covered by health and safety management system based on legal requirements and (or) recognised standards or guidelines | 100% | 100% |
Number of fatalities in own workforce as result of work-related injuries and work-related | 0 | 0 |
Number of fatalities in own workforce as result of work-related injuries | 0 | 0 |
34
Evaluation Campaign. Percentage of employees that participated in regular performance and career development divided by headcount
reported in S1-6 is 90%.
Number of fatalities in own workforce as result of work-related ill | 0 | 0 |
Number of fatalities as result of work-related injuries and work-related ill health of other workers working on undertaking's sites | 0 | 0 |
Number of fatalities as result of work-related injuries of other workers working on undertaking's sites | 0 | 0 |
Number of fatalities as result of work-related ill of other workers working on undertaking's sites | 0 | 0 |
Number of recordable work-related accidents for own workforce | 3 | 0 |
Rate of recordable work-related accidents for own workforce | 0.27 | 0 |
Number of cases of recordable work-related ill of own workforce | 0 | 0 |
Number of days lost to work-related injuries and fatalities from work-related work-related ill and fatalities | 81 | 0 |
Note to data relate to “Health and Safety metrics”
All BRD Group employees are covered by the health and safety management system. Data
above are determined according to the Romanian Law. Investigation files are validated by ITM
(Territorial Labour Inspectorate).
Remuneration metrics
Table 24 – Remuneration | 2024 |
Gender pay gap | 30.14% |
35
36
.
S1 16-a, b
Annual total remuneration ratio of the highest-paid individual to the median for all other employees (excluding the highest-paid individual) | 29x |
Note to data related to “Remuneration metrics”
For the 2024 pay gap and remuneration ratio, the variable remuneration based on 2023
performance (granted in 2024) was used in the calculation.
BRD Group monitors every year the pay gap between men and women and its evolution over
time and implements corrective measures, if necessary. However, there is still a gender pay
gap at BRD Group level reflecting a negative impact on gender equal pay.
Currently, the number of women within BRD Group exceeds the number of men, particularly
within BRD. However, the recruitment process remains fair and strictly focused on candidates'
skills and qualifications for the respective roles.
To ensure fairness in relation to the pay-out of workers returning from parental
leave/maternity, a systematic review of the pay level is carried out on return to work in order
to prevent possible pay gaps between women and men.
BRD Group monitors every year the pay gap between men and women and its evolution over
time and implements corrective measures, if necessary.
For the 2024 pay gap and remuneration ratio, the variable remuneration based on 2023
performance (granted in 2024) was used in the calculation.
Incidents, complaints and severe human rights impacts
In 2024, BRD received a total of 11 discrimination/harassment alerts through dedicated
channels as following:
1.
4 alerts on the whistleblowing channels from SG or BRD
2.
7 alerts on other internal channels within the Bank, which were directed to HR.
37
remuneration
.
S1 17-103
Of the 11 alerts received in total, 1 alert was confirmed and a plan of measures was established,
while 1 alert is currently being processed.
There were no fines, penalties or compensation for damages as a result of complaints for
discrimination/harassment in the reporting period.
In addition, no severe human rights incidents connected to the BRD Group workforce have
occurred in the reporting period.
Consumers and end-users
This chapter includes details on the identified impacts, risks, and opportunities (IROs) related to Consumers and
end-users, as well as the corresponding policies, actions and targets. Furthermore, the BRD Group’s overview on
the policies, measures and targets is also presented
.
Strategy
S4-SBM-3- 9-a, b S4-SBM-3- 10 a, c, d S4-SBM-3- 12 | Interaction of Material IROs with BRD Group Strategy BRD Group's strategy and business and access and individuals, professionals, SMEs, large engages greenhouse livelihoods in local communities. and solutions while plays SMEs through Study social campaigns, responsible financial decisions, while sustainability-linked loans address both environmental and social procedures, and technologies to ensure that all easily access its products and services. At materiality analysis, ensuring its strategy remains resilient against emerging challenges. A key material risk identified pertains to access to quality financial information, impacting all BRD emphasizing the financial marketing strategies and responsible lending practices are also fundamental financial individuals. Furthermore, essential to lead to customer dissatisfaction, on clear and quality financial information policy terms, |
legal disputes and customer disengagement, which could impact market competitiveness. To
address these risks, BRD emphasizes transparent communication, consumer financial
education, and responsible lending practices, thereby strengthening customer relationships
and protecting shareholders value
Given the nature of BRD Group’s activities, cybersecurity and data protection are also
paramount, as evolving threats could impact financial integrity and institutional reputation.
Strengthening GDPR compliance, enhancing cybersecurity measures and investing in digital
security frameworks are key strategic priorities to safeguard customer information and
mitigate risks associated with data breaches.
Sustainable finance presents an important opportunity for BRD to align its business model
with global sustainability goals while fostering long-term financial resilience. The bank is well-
positioned to expand its green and social financing portfolio, increasing sustainable lending
in sectors such as eco-friendly real estate, renewable energy projects and agriculture, and
developing ESG investment products to meet growing demand. These opportunities not only
enhance BRD’s role as a responsible financial institution but also contribute to economic
growth and job creation in key sectors.
Additionally, as digital banking adoption accelerates, BRD continue to enhance its digital
offer- You BRD, MultiX, BRD@ffice, Anyma, and All Net - to improve accessibility, operational
efficiency, and security for consumers while ensuring compliance with data protection
regulations. By integrating robust risk management measures and internal controls, BRD
mitigates potential financial and reputational risks while differentiating itself as a transparent
and reliable partner.
To reinforce consumer trust, BRD continuously invests in financial education, digital tools,
and employee training programs that empower customers to make informed financial
decisions.
The interplay between BRD Group’s material impact, risks, opportunities, and strategic
actions underscores its commitment to sustainable economic development, financial
inclusion, and the transition to a low-carbon economy.
Impact, risk and opportunity management
S4-1 MDR-P- 65 a MDR-P- 65 b S4-1-15 MDR-P- 65 c | Policies Related to Consumers and End-Users This section presents to its clients, as identified to ensure with customer ultimately fostering a fair, Information and ICT System Security Directive The outlines key including financial, contractual, business, and risks. partner particularly integrity, interruptions, potential financial through governance risk anticipating Group’s overall practices across to quality information and Security of a person. The scope and entities within BRD subsidiaries. These with conflict with extends responsibilities clearly defined in continuity and crisis Antifraud (managed by Human Resources Department), or the accuracy and lawfulness content (the employees, adopt safe as negligence or deliberate a financial institution, this policy covers also all its clients. The CEO is accountable for the implementation of this policy. The function of CISO – Director of Société Générale. second level dedicated for operational security and is equivalent to first level |
MDR-P-
65 d
MDR-P-
65 e
MDR-P-
65 f
MDR-P-
65 a
S4-1-15
reporting to the Chief Technical Officer, Head of Infrastructure Production and Operations
Department.
The implementation of the IISSD policy at BRD Group commits to respecting different
framework related to ICT security and identity management. The policy follows a
comprehensive Information and ICT Security Framework, which includes principles validated
under specific rules and technical details adapted to BRD’s needs, while ensuring compliance
with the broader Société Générale (SG) Group standards. BRD's ICT services development
integrates the principles of Security by Design and Security by Default, ensuring that both
functional and non-functional requirements align with best practices in security and privacy.
Furthermore, BRD’s Identity and Access Management (IAM) framework is aligned with the SG
Group’s strategy and executed in compliance with SG-issued instructions and procedures.
These include instructions on identity management, lifecycle management of user accounts,
and the proper governance of access rights across BRD’s ICT systems. The policy also
incorporates measures to mitigate risks related to unintentional or intentional manipulation
of ICT systems during development, maintenance, and deployment. These standards ensure
that BRD's practices align with both internal guidelines and external best practices in ICT
security and identity management.
In setting the Information Systems Security (ISS) policy, careful consideration was given to the
interests of key stakeholders by consolidating their roles and responsibilities within the policy.
The responsibilities of various stakeholders, including all personnel, the COO of BRD, the CIO,
and expert functions, are clearly outlined to ensure clarity and accountability. Furthermore,
the policy underwent consultation with the relevant departments in the Bank and was
validated to ensure it aligns with the interests and requirements of all involved parties,
ensuring their needs and perspectives were considered in the final framework.
The policy is made available to stakeholders and those responsible for its implementation
through various means. All personnel, including those of BRD, SG subsidiaries, and ICT third-
party representatives, are required to undergo Information & ICT Security training and
awareness programs. This ensures they are aware of their responsibilities and the
consequences of non-compliance. BRD's management body is also actively trained to under-
stand and assess ICT risks, with training provided regularly in cooperation with the CISO’s
team. New employees receive a set of documents outlining key security obligations before
interacting with BRD's ICT systems, while ICT third-party representatives are required to sign
confidentiality and security agreements. The full Information & ICT Security policies, including
the IISSD BRD, are published and permanently accessible on the internal platform, IntraLegis,
and can be disclosed to ICT third-party representatives upon request. Additionally, all
employees and ICT third-party representatives are required to attend initial and regular
training sessions to ensure continuous awareness and compliance with the policy. This
approach ensures that all relevant stakeholders are well-informed and equipped to
implement the policy effectively.
Customer Complaints Policy
The key content of the policy focus on the management of complaints from customers,
investors, non-customers. It outlines the processes for receiving, registering, managing,
analysing, and resolving complaints, along with the steps to ensure that responses are
MDR-P-
65 b
MDR-P-
65 c
MDR-P-
65 d
MDR-P-
65 e
MDR-P-
65 f
MDR-P-
65 a
communicated back to the complainants. The general objectives of the policy are to maximize
the positive impact manifested through the provisions of clear, precise, and easily accessible
information, including through digital platforms, contributing to better transparency and
informed decision-making for customers. This approach also helps mitigate the risk of
customer dissatisfaction due to misleading or unclear information. The policy relates to
material risks, including customer dissatisfaction and potential reputational damage, and
offers opportunities for improved customer service and communication. The monitoring
process of the policy is carried out through a set of managerial and operational controls, with
the responsibility for overseeing this process resting with the Quality Director. The Quality
Department is tasked with informing the Bank's management, including the Management
Committee and Board of Directors, when necessary, about the key indicators monitored in
the complaint management process, the causes of complaints, and any potential risks
identified.
The scope of the policy applies to all types of complaints expressed in writing or verbally,
including those from individual and corporate clients, non-clients, investors, and other
interested parties. The policy is specifically limited to the BRD level and does not extend
beyond this scope. It addresses complaints across various activities and stakeholder groups
directly interacting with BRD but does not cover entities outside of BRD, nor does it extend
to other geographical areas or parts of the value chain. Additionally, BRD AM and BRD
Sogelease also have their own customer complaints framework, publicly available on their
website.
The General Secretary is responsible for the implementation of the policy, under the direct
supervision of the CEO.
The policy respects the EBA Guide 04/10/2018 for complaints handling for the securities
(ESMA) and banking (EBA) sectors and SG policy (SG Code) regarding complaints
management.
In setting this policy, BRD consulted with internal key stakeholders to incorporate their
concerns and suggestions during the internal approval process. BRD also has a permanent
dialog with clients and representatives of Associations such as Asociatia Utilizatorilor Romani
de Servicii Financiare. For the internal stakeholders all relevant departments (Compliance
Department, Legal Department, Data Protection, commercial departments) were consulted
according with the process of approving internal regulations. For the external stakeholders,
feedback is constantly captured during regular interactions and included were considered
necessary in the internal regulation.
The relevant policy regarding the management of complaints is available on BRD intranet.
Fraud Risk Management Policy
The Fraud Risk Management Policy outlines the key principles and guidelines for effectively
managing fraud risk, both internal and external, within BRD. It establishes the general
framework for fraud prevention, detection, mitigation, and response, aligning with legal
regulations, market realities, and the policies of the SG Group. The primary objective of this
MDR-P-
65 b
MDR-P-
65 c
MDR-P-
65 e
MDR-P-
65 f
S4-1-15
policy is to minimize BRD’s exposure to fraud-related risks by implementing preventive
measures, swiftly detecting potential or actual fraud, mitigating its impact, and ensuring the
recovery of losses resulting from fraudulent activities targeting the Bank, the SG Group, or
their clients. The policy is continuously monitored through evaluation instruments, internal
controls, and clearly defined roles and responsibilities to ensure compliance and effectiveness
in fraud risk management. The policy addresses the material IROs related to Privacy, Access
to quality information, Access to products and services.
The Fraud Risk Management Policy applies to all employees of BRD, regardless of their
employment type, including permanent, temporary, full-time, part-time, remote, and
apprenticeship contracts. Additionally, compliance with the policy is mandatory for
individuals engaged with the Bank through various professional relationships, such as those
seconded from other employers, temporary workers provided by labour agencies, service
providers under contractual agreements, and individuals conducting professional internships,
including students and doctoral candidates. The policy serves as a fundamental component
of BRD’s overall risk management framework, ensuring that all relevant stakeholders adhere
to the established principles for fraud prevention, detection, and mitigation. The policy
applies across all BRD units and operations. However, its scope does not extend to external
entities that are not in a direct or contractual relationship with BRD.
The Executive Committee is the most senior level accountable for the implementation of the
Fraud Risk Management Policy. It holds the final responsibility for supervising the
management of fraud risk, ensuring that antifraud principles are upheld, and that an effective
system of prevention and control is in place.
In designing the Fraud Risk Management Policy, considerable attention was given to the
interests of key stakeholders. The policy was developed to address the concerns of all parties
impacted by fraud risk—including employees, management, customers, investors, and
regulatory bodies—by clearly defining the roles, responsibilities, and conduct required to
prevent and detect fraudulent activities. It aligns with legal regulations, the operational
realities of the markets in which the bank operates, and the overarching policies of the SG
Group. This holistic approach ensures that employees are equipped and accountable for
enforcing the policy, while customers and investors benefit from a robust framework that
minimizes fraud risk and protects their interests. Moreover, by incorporating comprehensive
evaluation instruments and control mechanisms, the policy supports transparency and trust,
thereby reinforcing the integrity of the bank and its commitment to safeguarding the interests
of all its stakeholders.
The Fraud Risk Management Policy is made readily available to all potentially affected
stakeholders through multiple communication channels and training initiatives. It is
integrated into the bank’s internal regulatory framework and is disseminated via internal
platforms, formal training sessions, and regular communication actions. This ensures that
employees are aware of their role in preventing and detecting fraud. Additionally, service
providers, interns, and other external parties involved in the bank’s operations receive the
necessary information and guidance on implementing the policy. The comprehensive
approach to communication and training guarantees that all stakeholders who are
responsible for implementing the policy have access to up-to-date guidelines and operational
procedures, thus supporting a robust supervisory environment and effective fraud prevention
practices across the organization.
MDR-P-
65 a, b
MDR-P-
65 c
MDR-P-
65 e
The Fraud Risk Management Policy is specifically designed to govern the behaviour and
responsibilities of internal stakeholders and those in a contractual or temporary relationship
with the bank, such as employees, service providers, etc. It does not directly cover all
consumers or end-users. However, by ensuring robust fraud prevention, detection, and
mitigation measures are effectively implemented by these key groups, the policy indirectly
benefits consumers by reducing fraud risks and enhancing the overall security and
trustworthiness of the bank’s operations.
Sustainable Products & Services Development
The Standards for assessing and addressing the ESG risks policy establishes clear guidelines
for the governance of sustainable products and services offered to both individual and
corporate customers. Its key contents include defined objectives, rules, and perimeters for
issuing and managing these products and services, as detailed in the bank’s instructions.
These instructions regulate every phase of the customer relationship lifecycle—from
onboarding and product granting to ongoing management and eventual closure of the
business relationship. The policy is designed not only to enhance transparency and
performance in response to evolving market conditions and customer needs, but also to
address material impacts and risks, such as ESG risks in the lending process. Specifically, it
identifies opportunities to finance the sustainable economy while incorporating a risk-based
approach to environmental, social, and governance factors. Monitoring of the policy is carried
out through continuous evaluation, measurement, and regular revisions, capitalising on
customer surveys, complex research, and the bank’s sustainability strategy. Furthermore, the
policy is subject to rigorous validation and approval by responsible units, ensuring compliance
with legal frameworks and alignment with the bank’s overall strategic principles and culture.
This policy addresses the material IROs related to Sustainable finance.
The senior level of the approval of new products is the Executive Committee, with the BoD
being informed, based on internal set criteria.
In setting this policy, BRD consulted with key stakeholders to incorporate their concerns and
suggestions. The internal framework related to new products follows a well-regulated circuit
for issuing, updating and validation: establishes the departments impacted by the updates
(e.g. Legal, Data Protection, Compliance, Product owners, Product experts, Business
Distribution, Financial, Risk etc), consult key internal stakeholders, obtaining their validation
and finally approval from Executive Committee and Board of Directors, as the case, according
to the competencies establish at bank level.
At the same time, prior to issuing a policy related to the creation of the products and services
offered by the bank, BRD is also organizing focus groups research with actual and potential
bank customers selected from relevant customers segments, with a clear objective of gaining
their insights and feedback related to the ideal product/service prototype and features. The
results of the focus groups are communicated/presented to the responsible internal
stakeholders (product managers, business directors, marketing managers, customer
experience managers, distribution managers, etc. and further on to the relevant executive
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directors and BoD) who will create or reshape the offers also considering this valuable
information.
The internal policy is made available only for internal stakeholders. It is not relevant for the
external stakeholders/ customers/ end-users who have all needed support documents/
materials/ instructions/ guides/ pre-contractual and contractual
documentation/presentations made available on the BRD website and by request in the
branches and Call Centre.
The policy is tailored to cover specific customer segments rather than applying uniformly to
all consumers and end-users. Depending on the product perimeter, it covers different groups
such as corporate customers, small business customers, business professionals, freelancers,
and private individuals. This segmentation allows the bank to address the unique needs, risks,
and regulatory requirements associated with each customer group, aiming for the products
and services to be appropriately designed and governed for the intended target audience.
Human Rights Commitment in Relation with Consumers and End-Users
BRD Group is deeply committed to respecting human rights by adhering to the SG Group
Transversal Statement on Human Rights, which aligns with international initiatives such as
the Universal Declaration of Human Rights and its additional commitments, the fundamental
conventions of the International Labor Organization (ILO); the UNESCO World Heritage
Convention, the Guidelines for Multinational Enterprises of the OECD (Organization for
Economic Cooperation and Development) and the United Nations Guiding Principles on
Business and Human Rights.
This commitment integrates respect for human rights into the BRD Group's CSR Policy, which
is consistently enforced through specific training programs for its employees. The policy
extends to human rights considerations in human resources operations, supply chain
management, and across its products and services.
Engagement with Consumers and End-Users
BRD Group incorporates the perspectives of its customers into its decisions and activities
aimed at managing actual and potential impacts on them. Key to this approach is the ongoing
efforts for adaptation to market evolution, regulatory requirements, and the specific needs
of its customers, which supports the development of new products and services, including
financing the sustainable economy through lending products. BRD Group also integrates
environmental, social, and governance (ESG) factors into its lending process, analysing
potential risks based on a differentiated, risk-based approach. Regular communication with
customers is an important aspect of the business strategy, with regular surveys conducted to
gather feedback on various aspects of its offerings, including products, services, processes,
and customer-bank interactions. The feedback collected through these surveys is essential
for reshaping the business strategy, refining offers, improving processes, and identifying
business opportunities, particularly when survey results indicate underserved market
segments. Additionally, customer feedback plays an important role in shaping the ESG
strategy, for example through closeness in communication during events like the tobacco
sector exit strategy, where proactive engagement is designed to minimize disruptions.
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Additionally, subsidiaries like BRD Sogelease and BRD AM utilize similar engagement methods
to tailor their services and improve client relationships.
Engagement occurs directly with BRD Group customers for private -individuals and with their
legitimate representatives for businesses.
The customer research department conducts regular surveys on an extended list of subjects
of interest, in which engagements occurs directly with relevant customers and uses external
studies and research conducted by renowned companies which serves the respective topic of
interest for the bank.
The operational responsibility for ensuring consumer and end-user engagement and
integrating the results into the bank’s strategic approach lies with middle and senior
management, including Board Members. They are continuously informed about the findings
of surveys and studies conducted by the bank and are actively involved in decision-making
processes and necessary actions. Specifically, RCVM Directors, the RCVM Executive Director,
and the Retail Deputy CEO play a key role in overseeing and managing this engagement,
ensuring that consumer feedback is effectively incorporated into the Bank’s products,
services, and overall strategy.
BRD Group has a systematic approach for assessing the effectiveness of engagement with
customer, along with tracking relevant agreements or outcomes:
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social media, and other channels.
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keeping maintain detailed records of customers complaints.
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satisfaction (NPS surveys).
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continuous improvement of engagement strategies.
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customers.
BRD Group takes several steps to gain insight into the perspectives of consumers and end-
users who may be particularly vulnerable to financial impacts or marginalized, such as
individuals with disabilities and financially vulnerable clients. While the bank does not have a
distinct internal definition of vulnerable customers, it applies the national legal definition as
stipulated by Law no. 258/2017, which aligns with the EU Directive 2014/92/EU.
To support financially vulnerable individuals, BRD Group offers a dedicated basic current
account with essential banking services. Information about these services is clearly displayed
in bank branches and on BRD’s institutional website under the "Servicii de baza" section.
For individuals with disabilities, BRD Group ensures accessibility to its products and services
by equipping 90% of its 388 branches with access ramps and providing clear signage. For
individuals with disabilities. BRD Group ensures accessibility to its products and services by
equipping over 90% of the branches where access ramps were needed and could be installed
with such ramps, as well as by providing clear signage.
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b,c
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Processes to Remediate Negative Impacts and Channels for Consumers and End-Users to
Raise Concerns
BRD Group provides multiple channels for consumers and end-users to raise their concerns
or needs directly with the bank and have them addressed. These channels are established by
BRD itself and include both internal and external mechanisms:
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section via the "I make a complaint" option.
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communication.
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Quality Direction.
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submitting concerns.
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as Facebook.
In addition to BRD’s internal complaint-handling mechanisms, customers can also escalate
their concerns to various external institutions, including:
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If a customer receives a negative response from BRD regarding their complaint, the reply
includes a list of institutions where they can further escalate their concerns.
Additionally, regarding BRD Asset Management activity, investors in investment funds have
access to all the general customer complaint channels provided by BRD, along with direct
contact options for BRD AM via email or phone. These multiple complaint-handling avenues
ensure accessibility, transparency, and efficiency in addressing customer concerns.
The BRD website contains clear institutional information, the complaint-handling process,
possible remedies, and communication methods.
BRD ensures the effective tracking, monitoring, and resolution of customer issues through a
structured approach that involves dedicated departments, periodic analysis, and internal
controls. The Quality Direction continuously analyses complaints to monitor the evolution of
key indicators, identify dysfunctions in services, products, or processes, and assess potential
risks, whether isolated or recurring. This analysis helps detect common root causes, allowing
the bank to take corrective actions and improve customer experience. The identified
malfunctions and their corresponding corrective measures are closely monitored until full
resolution is achieved. To ensure the effectiveness of its complaint channels, BRD has
established clear internal rules and procedures for complaint management, including
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mechanisms for whistleblowing and data protection, ensuring that customer concerns are
handled efficiently and in compliance with internal and external regulations. Every complaint
receives a personalized response within the designated internal timeframe, reinforcing
transparency and consumer trust. Additionally, BRD has implemented internal managerial
controls that track the efficiency of issue resolution across the BRD Group, ensuring that all
identified risks and incidents are documented, monitored, and addressed following the
bank’s risk management framework. BRD Sogelease follows similar complaint resolution
procedures, providing customers with various reporting channels, including online
submission, and ensuring that all concerns are managed according to internal regulatory
frameworks. At the same time, BRD AM systematically monitors petitions through its
Compliance Department, maintaining an internal complaint registry while also reporting all
petitions on a quarterly basis to ASF, the supervisory authority, ensuring external oversight
and regulatory compliance.
BRD ensures that consumers and end-users are informed about and have confidence in the
established structures and processes designed to address their concerns and needs. These
systems are transparent, easily accessible, and regularly updated to maintain high standards
of responsiveness and efficiency. The bank actively encourages customer feedback and
continuously improves its mechanisms based on consumer input, ensuring a reliable and
trustworthy platform for addressing concerns. BRD Sogelease reinforces awareness and trust
in these processes through periodic internal communication via email for staff, as well as
mandatory compliance training sessions that highlight available channels, internal
procedures, and protective measures. For external end-users, including customers, suppliers,
and partners, the complaint resolution process is clearly detailed on the BRD Sogelease
website, and each end-user receives a timely response to their complaint, in line with internal
timelines. BRD AM follows a similar approach, ensuring that all stakeholders are informed
about the available complaint mechanisms and reassured of their effectiveness. Additionally,
BRD has policies in place to protect individuals from retaliation when they use such structures
or processes, reinforcing a safe and transparent environment for raising concerns.
Actions related to Consumers and End-Users
BRD Group is committed to ensuring the security, accessibility, and transparency of its
products and services while promoting sustainable finance initiatives. This section outlines
the key actions taken to address the material impacts, risks and opportunities identified in
relation to customer privacy, data security, access to quality information, and sustainable
finance. By implementing robust cybersecurity measures, enhancing transparency in
communication, and improving access to banking products, BRD aims to strengthen customer
trust and safeguard financial well-being. Additionally, BRD Group leverages sustainable
finance opportunities to support environmental and social progress, reinforcing its role as a
responsible financial institution.
Actions Implemented to Manage the Risks Related to Privacy
Data Protection Officer and Data Protection Correspondents
BRD Group has appointed a Data Protection Officer (DPO) since the implementation of GDPR,
and a dedicated Data Protection Cell (DPO) has been established within the Bank to monitor
compliance across all processes, services, products, and operations. This structure operates
in close cooperation with the Legal and Compliance departments to ensure comprehensive
oversight. Additionally, Data Protection Correspondents have been appointed at central level
and within the Bank's business structures at Head Office. These correspondents are
responsible for supporting the DPO in operational tasks such as maintaining the Processing
Register, responding to data subject rights requests, assisting with data protection impact
assessments, analysing and documenting security breaches, and ensuring the DPO's
involvement in all necessary activities.
The expected outcomes of these actions include enhanced data protection compliance,
reduced risk of data breaches, and strengthened consumer trust in BRD’s handling of personal
data. By ensuring that business departments receive guidance and support in implementing
GDPR-compliant measures, BRD aligns with its policy objectives related to data security and
regulatory compliance.
The scope of these actions covers all banking activities at the central level and within local
subsidiaries. Even when subsidiaries have not designated their own DPO, they are required
to appoint a data protection correspondent who follows BRD Group's principles and ensures
alignment with BRD Group’s data protection framework. This ensures that compliance efforts
extend across the entire organization, including upstream and downstream value chain
processes.
The time horizon for completing these actions is long-term, as data protection remains a
continuous focus, requiring regular adjustments and improvements based on regulatory
updates and identified risks.
In cases where data protection incidents have occurred, BRD has taken key actions to provide
remedy and prevent future occurrences. This includes a structured approach to security
breach analysis, incident documentation, and implementing corrective actions to mitigate
risks. The DPO, Data Protection Cell, and correspondents play a critical role in ensuring that
affected individuals receive appropriate responses and that the Bank complies with legal
obligations related to data protection violations.
GDPR Program
BRD Group has developed a comprehensive GDPR Program that is actively monitored
quarterly by top management. This program is designed to ensure the implementation of
GDPR requirements, including improving various data protection aspects and managing
transversal projects that involve GDPR considerations. The expected outcomes of these
actions include better management of personal data, improved compliance with GDPR
regulations, enhanced data privacy for customers, and stronger data protection governance
throughout the Group. These efforts contribute directly to the Group's policy objectives of
ensuring data security and maintaining trust with customers.
The scope of these key actions encompasses all relevant bank activities, particularly those
that involve handling personal data. The actions affect all stakeholder groups, particularly
customers whose data is processed, as well as the internal departments responsible for
ensuring compliance.
The time horizon for these actions is ongoing, with the GDPR Program being continuously
monitored and improved upon every quarter.
The GDPR Program has been effective in promoting regulatory compliance and aligning with
the bank's Group's data protection targets. Quarterly monitoring has enabled the
identification of areas for improvement, and corrective actions have been taken where
needed.
Data Protection Impact Assessment (DPIA)
At BRD Group level a series of DPIA analysis were performed. Following this analysis the
Group has not identified the need to consult the relevant authority (The National Supervisory
Authority For Personal Data Processing - ANSPDCP), as no high / significant residual risks were
identified for the envisaged persons, following the measures implemented. At the same time,
following the DPIA analysis performed, the Bank identified several supplementary measures,
and their implementation is followed within the Internal Control Committee.
Classification and protection of information
BRD has taken several key actions to strengthen its information protection system. These
actions include establishing clear ownership of information across the BRD Group, with each
individual or department being responsible for the information it generates or receives. This
structure ensures that all information within the BRD Group is accounted for and protected
according to its classification. Specifically, all information is classified as "Information Assets"
and has designated owners and custodians who are accountable for ensuring its proper
protection and classification.
By implementing a classification-based approach to information protection, the BRD Group
ensures that each piece of information is protected appropriately based on its sensitivity
level. This directly contributes to the bank’s overarching policy objectives of safe -guarding
data, minimizing risks, and maintaining compliance with relevant data protection regulations.
The scope of these actions covers all internal activities at the bank, affecting all departments
and employees who interact with BRD Group information systems.
The time horizon for these actions is long, being ongoing, with continuous monitoring and
improvement of the information protection measures. The system is designed to adapt to
changes in information classification and evolving security threats, ensuring that BRD Group
remains agile in its protection efforts.
The classification framework has been implemented across all departments, and employees
are consistently trained to apply the appropriate protection measures for each level of
information classification. These ongoing efforts have contributed to a more secure
information environment, with continuous feedback loops to ensure the system's ongoing
effectiveness and alignment with industry best practices.
GDPR Trainings, communications
BRD has implemented organizational measures as required by GDPR, such as improved
security protocols, internal audits, and updated data processing policies. Communication
efforts, including updates and reminders regarding GDPR compliance, have been conducted
to maintain awareness and ensure continuous adherence to regulations.
The expected outcomes of these actions include improved data protection awareness across
the organization, enhanced compliance with GDPR, and minimized risks associated with data
breaches. These measures help BRD Group ensure that it meets its policy objectives of
safeguarding personal data and ensuring the rights of individuals are upheld. By continuously
training staff and implementing the necessary organizational measures, there will be
maintained a high level of preparedness in managing data privacy and security.
The scope of these actions covers all employees within BRD Group, as well as any other
personnel acting under the BRD Group’s control, including contractors or third-party service
providers who may have access to sensitive data. The GDPR training and communications
efforts extend across the entire organization, ensuring that all personnel, regardless of their
role, are familiar with data protection principles.
The time horizons for these actions are long term, being ongoing, with annual training
sessions and communications being held regularly. The implementation of organizational
measures is also part of recurrent activities, meaning they are continuously updated and
improved based on the evolving regulatory landscape and emerging risks.
Quantitative and qualitative information regarding the progress of these actions includes the
completion of all scheduled GDPR training sessions and the continuous monitoring of GDPR
compliance through internal audits. The implementation of organizational measures has
resulted in the development of improved data protection procedures, which are regularly
reviewed and updated to maintain compliance and security.
Actions Implemented to Manage the Risks Related to Access to Quality Information
Contractual and communication framework
BRD Group has implemented a structured approach to ensuring access to clear, complete,
and high-quality information for all consumers through a robust contractual and
communication framework. The Bank ensures that all contractual, marketing, and
commercial information provided to customers is validated by the Legal and Data Protection
departments before dissemination. When necessary, additional validations are performed by
specialized departments, including Product Management, Customer Experience, and
Marketing.
The primary outcome of this initiative is to provide customers with accurate, understandable,
and accessible information, reinforcing consumer trust and satisfaction. By embedding legal
and ESG principles into all communication and contractual processes, BRD aims to align with
regulatory requirements and enhance responsible business conduct. This contributes to
policy objectives related to consumer rights, transparency, and ethical communication.
The Contractual and Communication Framework covers all customer interactions across
BRD’s operations, including banking products, marketing campaigns, and customer service
communications. The validation process applies to all consumer-facing information in BRD’s
upstream and downstream value chain. The validation process for contractual and
communication materials is a recurrent, ongoing activity, permanently monitored internally
to maintain compliance and effectiveness.
BRD has established ongoing mechanisms to measure progress, including internal monitoring
and customer surveys. The insights gained from these evaluations help refine communication
processes, ensuring that BRD maintains high standards in transparency and consumer
protection.
Training staff
BRD Group has implemented a structured and recurrent training program to ensure that all
employees who interact with customers maintain a standardized, transparent, and high-
quality communication approach. This initiative applies to all staff working in the branch
network, Call Centre, help desk, and sales teams, who receive periodic training focused on
clarity, accuracy, and completeness of information provided to customers. Upon hiring, front-
office employees undergo onboarding programs such as "Welcome to BRD", Induction, KYC
(Know Your Customer), and mandatory e-learning courses covering BRD’s products, services,
and operational tools. In addition, annual e-learning sessions with testing, are required,
tailored to specific job functions and associated risks. The periodic training topics include
client protection, market integrity, ethical culture and conduct, KYC requirements, reporting
standards, physical and cyber security, operational risk management, telesales techniques,
and customer experience best practices. Employees responsible for intermediation of
insurance and investment products must also complete legally mandated training courses at
set intervals.
These continuous learning efforts contribute to the Bank’s objective of providing clear and
high-quality information, ensuring regulatory compliance, and mitigating risks associated
with miscommunication or misinformation. The training initiatives cover all BRD Group’s
operational geographies, ensuring a consistent approach across branches and digital support
services. These activities are recurrent and permanently monitored, with structured feedback
loops in place to refine content and delivery methods. Customer complaints, satisfaction
surveys, and feedback mechanisms are actively used to measure the impact of training
efforts, with corrective actions taken as needed to address gaps in staff knowledge or
communication. Moreover, compliance with training requirements is systematically tracked,
and course content is continuously updated to align with regulatory changes, emerging risks,
and evolving customer expectations.
Regulatory Watch
The regulatory watch at BRD Group involves monitoring draft and recently enforced
legislation to identify new regulatory requirements and ensure clients receive all legally
binding information. This helps mitigate the risk of potential sanctions and loss of reputation
while maintaining BRD's impact on its clients by providing clear, precise, and easily accessible
information via digital platforms. The General Secretariat monitors draft legislation, the legal
department identifies relevant legislation once adopted, and the Compliance Department
ensures the implementation and enforcement of new legal provisions. These actions cover all
draft legislation, activities across BRD Group, and all stakeholder, particularly customers and
internal departments. The time horizons for these actions are ongoing, with continuous
monitoring and updates. Progress has been made through enhanced regulatory watch
actions, improved response times, and strengthened internal awareness and training
programs, ensuring a high level of compliance and consumer confidence.
District Program
In 2024, BRD Group implemented several key actions aimed at enhancing financial and
entrepreneurial education, aligning with the bank’s commitment to supporting SME clients
and adapting to evolving market needs. One of the primary initiatives undertaken was the
"District" program, which was designed to provide valuable business insights and guidance to
small and medium-sized enterprises (SMEs). This initiative included physical events such as
conferences and masterclasses held across 10 Romanian cities, featuring renowned
Romanian entrepreneurs and business consultants as guest speakers. These sessions
provided SME clients with knowledge and best practices on business growth, financial
management, and navigating economic challenges. Additionally, 10 editions of the "District"
newsletter were distributed to more than 48,000 SME clients, further extending the
program’s reach by offering expert advice and relevant market insights in a digital format.
Looking ahead, BRD Group plans to expand the "District" program by increasing the number
of in-person events, diversifying topics covered, and leveraging on digital platforms to make
financial education more accessible to a broader audience. This will contribute to the bank’s
long-term policy objectives of fostering financial inclusion, supporting SME development, and
strengthening Romania’s entrepreneurial ecosystem. The expected outcomes of these
initiatives include enhanced financial literacy among SME owners, improved business
decision-making capabilities, and greater resilience in navigating financial challenges. In terms
of scope, this action covers downstream value chain stakeholders, including SMEs, industry
experts, and financial institutions. The program currently focuses on Romania. "District"
program serves as a preventative and mitigating measure by equipping SMEs with the
financial knowledge and strategic skills necessary to avoid financial distress or business
failure. By proactively educating entrepreneurs, BRD potentially reduces the likelihood of
businesses facing financial hardships that could otherwise require remedial intervention. In
terms of progress tracking, the quantitative impact of the initiative in 2024—including the 10
city events, 48,000 newsletter recipients, and expert-led masterclasses—demonstrates a step
forward in BRD Group’s financial education efforts.
“The Money Road” podcast
BRD Group has committed to a long-term continuation of financial education programmes.
For example, "Drumul Banilor" ("Money Road") podcast had weekly episodes throughout
2024.
In 2024, BRD Group continued its commitment to financial education through the "Drumul
Banilor" podcast, a project initiated in 2021 and produced in collaboration with a journalist
and the podcast creator. The podcast serves as an accessible educational tool, offering
practical financial knowledge to the public in an easy -to-understand format. It covers a wide
range of topics, including investments, loans, credit cards, online fraud prevention, interest
rates, and financial management strategies. By avoiding complex financial jargon, "Drumul
Banilor" aims to make financial education inclusive and engaging for a broad audience. The
podcast has the objective to promote financial literacy among listeners, increase awareness
of responsible financial behaviours, and greater public understanding of key financial
products and risks. By equipping individuals with essential financial knowledge, BRD
contributes to its broader policy objectives of financial inclusion, consumer protection, and
digital education.
The podcast primarily targets Romanian consumers, covering topics relevant to individual
banking clients, potential borrowers, investors, and small business owners. As part of BRD’s
broader financial education initiatives, it supports both upstream and downstream
stakeholders, including customers seeking financial guidance and the banking sector aiming
to improve consumer financial awareness. The podcast is available nationwide through
popular streaming platforms such as Anchor, Spotify, Apple Podcasts, and Google Podcasts,
as well as on BRD’s website (www.brd.ro/drumulbanilor) and FinZoom.ro.
Since its launch in 2021, "Drumul Banilor" has consistently grown in reach and engagement.
The continued production in 2024 reflects BRD’s commitment to expanding financial
education efforts. The inclusion of the podcast on major streaming platforms and banking
websites has increased accessibility, ensuring that financial knowledge is available to a broad
and diverse audience.
The initiative is designed as an ongoing project, with periodic evaluations to optimize content
and engagement strategies.
“#ItCouldHaveBeenYou” campaign
In the final months of 2024, BRD launched the #ItCouldHaveBeenYou anti-fraud
communication campaign, aimed at raising public awareness about online fraud tactics and
equipping consumers with the knowledge for own protection. This initiative aligned with
BRD’s commitment to consumer protection, cybersecurity awareness, and financial literacy,
reinforcing trust in digital banking. The campaign leveraged social media, online platforms,
and traditional media to disseminate key information, targeting a broad audience, including
individual consumers, businesses, and online banking users across Romania. The campaign
contributed to BRD’s policy objectives by reducing fraud risks, promoting safe financial
behaviours, and enhancing digital security knowledge. Its implementation in late 2024
marked an important step in BRD’s ongoing cybersecurity awareness efforts, with plans to
expand similar initiatives in 2025 and beyond, integrating them into broader financial literacy
programs. Moving forward, BRD will evaluate the campaign’s effectiveness through customer
feedback, engagement metrics, and fraud prevention data, ensuring continuous
improvement in protecting consumers from financial fraud risks.
Actions Implemented to Manage the Risks Related to Security of a Person
Cyber Defense Strategy
BRD has continuously strengthened its cybersecurity posture in alignment with its Cyber
Defence Strategy, implementing key actions aimed at prevention, detection, reaction, and
response capabilities. In 2024, the Bank conducted regular internal security audits, updated
or issued key normative documents, and enhanced its early detection program to identify
information security vulnerabilities more efficiently. Additionally, BRD reinforced employee
awareness and training, ensuring that over 96% of employees signed an InfoSec Annex upon
onboarding and participated in periodic cybersecurity training programs, webinars, and
regulatory web-based training sessions. To further improve security, the Bank implemented
"Security by Design/Privacy by Design" standards for all new major changed applications,
ensuring robust security compliance from development to deployment. As part of its
proactive defence, BRD performed a Tabletop Cyberattack Simulation Exercise, validating the
effectiveness of its cyber defence mechanisms. The Bank also maintained its RedLine
framework, a structured countermeasure system designed to prevent and mitigate Black
Swan events that could have significant impacts on BRD’s operations. Also, the Bank has
implemented specific measures to align with EU Regulation 2022/2554 (DORA).
The scope of these initiatives extends across all BRD business units, covering both internal
security frameworks and external customer-focused cybersecurity measures, including
regular phishing and malware awareness campaigns delivered via SMS, emails, push
notifications, and institutional websites. These efforts are critical for safeguarding customers,
employees, and business partners across BRD’s operational geographies. BRD has enhanced
its cybersecurity infrastructure by preparing for implementing cloud-based security products
and implementations and introducing AI and machine learning (ML) technologies to
strengthen threat detection. Moreover, the Bank aims to automate cybersecurity responses
through Security Orchestration and Automation Response (SOAR) to further reduce reaction
time and mitigate cyber risks efficiently. These measures are expected to enhance BRD’s
resilience against cyber threats, ensuring secure and uninterrupted business operations while
reinforcing customer trust in the bank’s digit al ecosystem.
Free security solution for remote banking applications
As part of its ongoing commitment to cybersecurity and fraud prevention, BRD has
implemented a free security solution for its remote banking applications, benefiting both
individual and corporate clients. This initiative represents a key action to strengthen the
security framework of BRD’s digital banking services, directly addressing the increasing
threats posed by cybercrime and online fraud. The solution provides enhanced protection
measures, such as advanced authentication protocols, real-time threat detection, and
proactive fraud monitoring, ensuring a safer online banking experience. By offering this
service at no cost, BRD reinforces its policy objective of promoting secure and responsible
digital banking, while also mitigating risks associated with cyber threats. The scope of this
action extends across all BRD remote banking users, covering both personal banking
customers and businesses that rely on digital platforms for financial transactions. This
initiative aligns with BRD’s long-term cybersecurity strategy, with implementation continuing
into 2025 and beyond, ensuring ongoing improvements based on emerging security
challenges and customer needs. While the focus is primarily on prevention, this security
solution also serves as a remedial measure, helping customers recover from or prevent
financial losses due to cyberattacks. Progress on this action will be tracked through
cybersecurity incident reports, user adoption rates, and feedback mechanisms, ensuring
continuous enhancement of digital security measures for BRD clients.
Actions Implemented to Manage the Positive Impact Related to Access to Products and
Services
Access to products and services to vulnerable people and persons with disabilities
BRD is committed to providing access to essential banking services for vulnerable consumers,
ensuring financial inclusion in accordance with legal and regulatory requirements. For
financially vulnerable consumers, as defined by Law 258/2017, the Bank offers a current
account with basic services, allowing them to perform essential banking operations such as
cash deposits and withdrawals, direct debit, intra- and interbank transfers, ATM withdrawals,
and card payments. BRD applies certain gratuities, including zero monthly account
maintenance fees, free ATM withdrawals from both BRD’s and other banks' networks in
Romania, and up to 10 free interbank payments per month. The Bank ensures transparency
through internal normative frameworks that detail the characteristics and applicable fees,
while also providing clear guidance posters in branches to inform customers about their rights
and eligibility criteria, as mandated by ANPC Order no. 787/2024. Additionally, a dedicated
webpage, Servicii de baza, is available on BRD’s website for easy access to relevant
information.
For customers with disabilities, BRD ensures accessibility to its entire range of banking
products and services, including the payment account with basic services for eligible
individuals. In terms of physical accessibility, over 90% of BRD’s 388 branches where access
ramps are needed and possible to add are equipped with them, while for the remaining
locations, nearby accessible branches are indicated. In addition, a dedicated poster is
displayed in branches, ensuring that customers with disabilities receive priority service. To
accommodate visually and hearing-impaired customers, the Bank provides printed
information on request, and trained employees assist in completing necessary
documentation.
In addition, there is on-going initiative that involves the implementation of the text to speech
functionality on the ATM that allows people with visual impairments to make cash
withdrawals/balance inquiries on terminals. At present, 160 ATM out of 1300 have this
functionalit
y.
YOU Mobile is also accessible and compatible with Voice Over readers
(functionality which reads to customers the fields in application, so that the customer can use
the application independently).
Provide diverse distribution channels for products and services
BRD has taken steps to enhance accessibility and convenience for its customers by expanding
and optimizing its product and service distribution channels. The Bank has adapted its
infrastructure and technology to facilitate online sales of key banking products, including
debit and credit cards, personal loans, current accounts, deposits, investment products, and
electronic signature solutions. This digital transformation ensures that customers can access
financial services easily without the need for physical branch visits. Additionally, BRD has
implemented self-service banking solutions, such as 24/7 transactional services available
through specialized machines and terminals in select branches, improving operational
efficiency and customer experience.
In 2024, BRD further enhanced its physical banking capabilities by installing High-Capacity
Machines (HCMs) in several branches, simplifying cash deposit processes and reducing
waiting times for customers. Moreover, MBA machines, which provide self-service
transactional capabilities, were upgraded with new functionalities and software
optimizations as part of the MBA recycling project, increasing their capacity, efficiency, and
availability. These enhancements positively impact customer satisfaction by offering a
seamless and efficient banking experience while also contributing to cost reduction through
increased automation.
These recurrent activities are continuously monitored to ensure optimal functionality and
service quality.
Insurance partnerships
BRD has developed strategic partnerships with insurance companies to enhance the range of
financial protection solutions available to its customers. Through these collaborations, the
Bank provides debit and credit card insurance, ensuring financial security in case of fraud or
unauthorized transactions, as well as travel insurance, offering protection against unforeseen
events during trips. Additionally, through its subsidiary BRD Asigurari de Viata, the Bank offers
life and health insurance as well as home insurance, which can be acquired either as
standalone products or integrated into bundled financial packages with other banking
services. These initiatives align with BRD’s broader objective of enhancing customer
satisfaction and loyalty by providing comprehensive financial protection and solutions to its
customers. Given that these partnerships represent recurrent activities, they ensure long-
term value for both customers and the bank, reinforcing BRD’s position as a provider of a
wide range of financial solutions.
Actions Implemented to Manage the Positive Impact and Opportunity Related to
Sustainable Finance
Sustainable financing and ESG investments
In 2024, BRD advanced its sustainable finance initiatives, in line with its Horizon 2025/2027
commitment to reach EUR 2.4 billion in sustainable finance transactions by 2027. These
actions support Société Générale Group’s broader commitment of EUR 300 billion in
sustainable transactions. A key step was the development of a business plan for sustainable
and positive impact financing, targeting sectors with long-term environmental and social
benefits. The strategy emphasizes energy efficiency, clean mobility, the circular economy,
green buildings, water treatment, agriculture, and sustainable municipal projects. The Bank’s
approach is aligned with key EU frameworks, including the EU Green Deal, the National
Recovery and Resilience Plan, and the EU’s Circular Economy Action Plan.
The business plan aims to increase sustainable finance transactions and assist businesses in
transitioning to low-carbon and socially responsible models. By adhering to ICMA Green Bond
Principles, LMA Green Loan Principles, and Sustainability-Linked Loan Principles, BRD ensures
transparency, accountability, and measurable impact. To enhance risk management and
prevent financing of activities with negative environmental or social impacts, BRD follows SG
Group’s E&S Sectoral Policies, which prohibit financing of projects in high-risk sectors.
Additionally, impact analyses are conducted for all sustainable transactions, leveraging third-
party assessments or ESG ratings from recognized agencies to validate their positive
contributions.
BRD’s business plan covers both large corporate clients and SMEs, with a tailor-made
financing approach for corporates and a more standardized offering for SMEs in 2024. The
Bank supports green bond issuance on international markets and has a dedicated team to
assist clients in structuring transactions according to international sustainability standards.
The bank also supports social impact projects in renewable energy, clean mobility, healthcare,
education, local employment, and social inclusion, for corporate and public sector clients.
BRD’s business plan for sustainable and positive impact financing operates under a medium -
to long-term time horizon, with progress reviewed periodically. Corporate clients engaged in
38
Sustainable financing refers to financial transactions that generate environmental and/or social benefits, aligning with either the Green &
Sustainability Linked Loans Framework or the Green Financing Framework, and may include positive impact financing (PIF), sustainability-
linked loans (SLL), and other specialized loans like blue or gender loans. Sustainable financing encompasses green or social loans used to
finance or refinance eligible Green/Social Projects, with methodologies and criteria that are internally defined and distinct from the EU
Taxonomy's criteria, being less stringent than those in the EU Taxonomy. Consequently, not all sustainable finance provided by BRD Group
will meet the strict criteria for EU Taxonomy alignment and the Sustainable Financing metric and target presented hereinafter in this report is
an internal metric and must not be confused with the Green Asset Ratio (GAR) KPI under the EU Taxonomy.
sustainability-linked financing are required to submit regular impact reports. BRD assesses
potential negative impacts of financed projects, taking correction actions if necessary. The
bank also adheres to SG’s E&S exclusion policies, to avoid environmentally or socially harmful
investments.
In 2024, for large corporates, the Bank made available sustainable financings, as follows:
-
medium term loan of EUR 21m for general corporate purposes, made available to a private
dialysis provider (Diaverum Romania). The two SLL facilities have contractual
sustainability performance targets set that the company needs to comply with, classified
as follows: (i) environmental impact (electricity & water consumption per treatment), (ii)
social impact (facilitating the access of new patients to treatment & the client satisfaction
level);
-
to a private energy distributor;
-
(EUR 12m implemented);
-
-
Auto Romania for financing low carbon personal transport vehicles and related
infrastructure.
BRD’s activities have resulted in positive impacts across various sectors, including
sustainability, healthcare, and financial inclusion. Its lending products, such as green and
social financing, support individuals and vulnerable populations, and initiatives like the
Expresso Green and Habitat Green campaigns promote environmental sustainability.
BRD Group’s activities have been assessed to create positive impacts across various sectors,
including sustainability, healthcare, and financial inclusion.
BRD plays a key role in social financing programs like ” Prima Casa” and offers Study Loans to
support students’ education. For corporate clients, BRD organizes conferences on ESG topics
to promote sustainable practices, particularly in agriculture, transportation, and waste
management.
In 2024, BRD signed a partnership with the European Investment Fund (EIF) to aid Romanian
companies in their green transition. This initiative supports investments in the green and
sustainable transformation of the economy, as well as accessibility improvements in services
and infrastructure. SMEs and small enterprises can access loans for green investments and
social accessibility services.
BRD also completed a synthetic significant risk transfer (SRT) transaction with the IFC, freeing
up capital for sustainability-related projects of up to €315 million. This deal allows BRD to
fund climate-related initiatives and support women-owned businesses.
BRD Sogelease’s partnership with the European Investment Bank provides favorable
financing for SMEs, supporting sectors like transportation and agriculture.
BRD AM plays a dual role, helping over 150,000 clients invest and save through investment
funds and contributing to economic development as a responsible investor.
In addition, BRD AM is a responsible investor joining Principles for Responsible Investment
framework since April 2022, a community of more than 5000 organizations around the world
committed to promoting ESG. Sustainability principles are integrated in all BRD AM products.
Furthermore, an ESG art. 8 fund was created since July 2023.
Overall, BRD Group’s sustainable finance initiatives positively impact a wide range of
consumers and sectors, contributing to individual well-being and Romania’s economic
development. These initiatives are expected to expand further in 2025.
Training for the employees on sustainable finance
BRD has made progress in integrating Environmental & Social (E&S) awareness and
sustainable finance principles into its corporate culture by implementing a series of dedicated
training programs for employees. In 2024, the Bank conducted 67 dedicated training sessions
on E&S analysis and sustainable finance, facilitated through both internal and external
trainers at the local level, as well as with support from the Société Générale (SG) Group. These
training programs were delivered in various formats, including physical workshops, virtual
sessions, and e-learning modules, ensuring accessibility and engagement across different
teams.
A key achievement in 2024 was the successful deployment of the Climate Fresk programme,
training over 1,600 employees and meeting the bank’s goal of reaching 30% of its staff. This
initiative improved employees' understanding of climate-related risks and their impact on
banking operations. Furthermore, BRD launched the ESG Academy, an education programme
aimed to improve awareness and expertise in sustainable finance. The awareness component
includes a series of five fundamental-level courses in short e-learning formats, which will be
progressively rolled out to all BRD employees.
In 2024, BRD continued the investments in training of functions involved in originating
sustainable finance transactions on the new SPIF methodology implemented by the Group –
12 workshops with 385 participants vs. 7 workshops with 292 participants in 2023 (both
Corporate and Retail) - delivered by local experts, on the themes “Loans which benefit of the
risk protection offered by IFC guarantee and Mechanisms for improving ESG risks” and
“Standards of analysis and addressing the ESG risks impact”. In addition, 10 sessions of Client
Climate Vulnerability Indicator and RACI trainings have been organized with the participation
of 258 employees. IFC specialists delivered 3 sessions of the training dedicated to Blue
Finance with 79 participants from Corporate and Retail perimeters, but support functions as
well.
These efforts reflect BRD's commitment to enhancing its workforce's capabilities in managing
environmental and social impacts effectively.
Climate Change Summit
Climate Change Summit is an event in Central and Eastern Europe dedicated to innovative
solutions for the climate change challenges we are facing today and tomorrow. The Summit
takes place amid geopolitical and geoeconomics shifts at an inflection point of how societies
look at desired futures.
In 2024, at its third edition, over 60 Romanian and international speakers, researchers,
entrepreneurs, innovators, government officials, civil society representatives and leaders
from Romania and Europe shared solutions for a greener future in front of more than 1500
participants at the Romanian Opera House and other venues. In addition, the event streamed
live on partner platform We Don't Have Time, as well as on climatechange-summit.org,
registered over 1.3 million views, highlighting global interest in the climate solutions
discussed.
The summit opened with key messages from presidency and prime minister, emphasizing the
importance of working together to find effective solutions to climate change and that, the
Romanian government will play a key role in preventing and combating these effects through
"public policy proposals and attracting international funding, both to transform the economy
and to protect vulnerable populations".
In the Climate Change Summit Awards competition, the best and most innovative solutions
proposed by young people under 30 have been awarded with prizes totalling €12,000. The
most sustainable small and medium-sized enterprises and non-governmental organizations
from Romania and Central and Eastern Europe will be included in a report highlighting
innovations in addressing sustainability in the region.
Metrics and Targets
MDR-T
S4-5
Established Targets Related to Consumers and End-Users
For the material IROs related to Privacy, Access to quality of information, Security of a person,
Access to products and services, BRD Group has not identified any material targets relevant
to be disclosed. The Group established processes are anchored within the functions that have
day-to-day responsibility for ensuring adherence to its policies.
Targets related to Sustainable Finance are included under the chapter
Environmental
Information – Climate Change (
see E1-4 disclosures
)
.
Metrics
Metric related to Sustainable Finance are included under the chapter
Environmental
Information – Climate Change (
see E1 disclosures
)
.
Having in view that the ESRS topical Standard related to Consumers and End-users does not
provide any specific metrics and the ESRS Sector-specific standard is under development, BRD
Group provide metrics from GRI Standard 417, 418.
Table 25 – Substantiated losses of customer data (GRI 418-1 a, b,c) | |
Total number of substantiated complaints received concerning breaches of customer by: i. complaints received from outside parties and substantiated by the organization. ii. complaints from regulatory bodies. | 8 0 |
Total number of identified leaks, thefts, or losses customer data. | 0 |
According to GRI 418-1,
substantiated complaint
regulatory or similar official body addressed to the organization that identifies breaches of
customer privacy, or a complaint lodged with the organization that has been recognized as
legitimate by the organization.
The substantiated complaints were analysed and the conclusion was that neither of the
incidents resulted in leaks, thefts, or losses of customer data.
Table 26 – Incidents of non-compliance concerning marketing communications (GRI 417-3 a, b) | |
Total regulations marketing promotion, and sponsorship, i. incidents of non-compliance with regulations resulting in a fine or penalty. ii. incidents of non-compliance in a warning. iii. incidents of non-compliance | 0 |
8.4. Governance Information
Business Conduct
This chapter includes details on the identified impacts, risks, and opportunities (IROs) related to Business
Conduct, as well as the corresponding policies, actions and targets is provided. Furthermore, the BRD Group’s
progress and the results of the policies and measures is also presented
.
Governance
G1-GOV- 1-5 | Information about the role of chapter “General Disclosures”. |
Impacts, risks and opportunities management
G1-1-9 | Business Conduct Policies and Corporate Culture At BRD Group, Model. Customer Responsibility, with its They reflect a culture (SG) Group's strategy, To initiatives aimed at embedding these and training programs play a critical role in fostering "The Rise on promoting constructive feedback, collaboration, openness to change, addition, within BRD maintains compliance complemented by Climate Fresk workshops and ESG Academy (described in more detailed in Consumer and end-users chapter), |
MDR-P-
65 a, b
G1-3-18-
a
and equip employees with knowledge to develop actionable ideas to address climate
change.
BRD Group considers onboarding as a crucial step of integrating new employees into its
organizational framework. Onboarding processes have been improved with digital and
automated workflows, ensuring a seamless transition for newcomers. Programs such as
"Welcome to BRD" introduce new employees to BRD Group organizational values,
compliance requirements, and responsibilities, setting the tone for their engagement with
the company.
Governance plays a pivotal role in reinforcing BRD Group corporate culture. The
Culture
and Conduct program
frameworks, risk management, and communication. This program is overseen by
designated roles such as the Culture and Conduct Correspondent and Conduct Officer,
ensuring accountability and alignment with SG Group standards. The roadmap is reviewed
annually at the executive level to measure progress and refine objectives.
Promoting corporate culture is integral to BRD Group strategy. The bank fosters an
environment of psychological safety and inclusivity through initiatives like the "Try, Learn,
Innovate" and "Inclusion - Truth or Dare?" conferences, which encourage open dialogue
and diversity of thought. BRD internal communication channels, including a redesigned HR
newsletter, ensure consistent messaging and engagement. Moreover, BRD actively
recognize and empower employees who embody its values, as demonstrated through the
Influencer Survey, which identifies colleagues who drive cultural improvements and inspire
their peers.
To evaluate and strengthen BRD Group corporate culture, we rely on robust feedback
mechanisms. The SG Barometer survey provides insights into employee engagement and
perceptions of the organization, achieving an engagement rate of 75% in 2024.
Complementary to this, the Organizational Health Index survey assesses the efficiency of
processes and organizational behaviours, enabling us to create targeted action plans for
improvement. Performance management processes, including annual reviews and mid-
year feed-back, facilitate meaningful dialogue between employees and managers, ensuring
continuous alignment with BRD Group values and objectives.
Through these interconnected efforts, BRD Group continually establishes, promotes, and
evaluates a corporate culture that aligns with its strategic goals, supports employee
development, and reinforces its commitment to integrity and sustainability.
Policies Related to Business Conduct
BRD Group’s Code of Conduct
At the core of BRD Group's ethical commitment is the SG Code of Conduct, which
represents a set of values and behavioural principles established to guide the actions and
activities of all companies which are part of the SG. These principles emphasize the respect
of the human and socio-economic rights, as well as the environment, having as core values
communicated among all stakeholders - team spirit, innovation, responsibility and
commitment.
MDR-P-
65 c
The Code of Conduct represents a commitment by the BRD Group to follow the proper
standards of ethics and business responsibility and applies to all BRD Group subsidiaries
and to all its employees as well as partners, customers, and suppliers. The Code addresses
aspects related to confidentiality of information, market integrity, conflicts of interest, use
of resources and how to deal with clients and suppliers. Furthermore, SG Code of conduct
is part of the CSR clause being mandatory to be inserted in all the contracts concluded with
third parties. This policy covers the all the material IROs related to Business Conduct.
Compliance with the Code of Conduct is ensured through the implementation of the SG's
internal rules and procedures into its entities. There are dedicated internal policies and
procedures for the implementation of the SG Code of Conduct, such as: Deontology Code
(transposing SG Code of Conduct provisions), Conflict of Interest instruction (defining the
set-up for managing conflict of interest), Whistleblowing instruction (detailing the
reporting process and related regulatory and Group provisions), Anti-Bribery and
Corruption instruction (transposing SG ABC principles) as well the instruction managing the
process of Declaring gifts, business meals and external events.
The Code of Conduct addresses the impact of business operations on transparency,
managing the risks of misinformation and fostering opportunities for enhanced
stakeholder trust and engagement.
The process for monitoring the implementation of the SG Code of Conduct is closely related
to the evaluation process of each employee, being focused on the conduct and compliance
review section. The Conduct & Compliance review allows the manager to discuss the
following points with the employee:
-
function;
-
-
The employees are evaluated on these elements by their manager, notably in terms of
conduct, risk management, quality of service, and respect of client interests.
Furthermore, there are internal audit missions and dedicated controls in place to monitor
the compliance with the Code of Conduct rules and to apply disciplinary sanctions in case
of Code breaches, according to the internal regulatory framework. The monitoring activity
of BRD Group employees, including observance of the Code, is done in accordance with
internal regulatory framework.
The Executive Committee (EC) is ultimately responsible for communicating the “tone from
the top” to maintain employees’ awareness and is accountable for the implementation of
the Code of Conduct.
BRD Group employees have the obligation to comply with the provisions of the Code of
Conduct and of the regulatory framework issued for its enforcement and also to observe
its conformance and further to alert via the specific channels available the aspects that may
represent breaches of deontology.
MDR-P-
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MDR-P-
65 e
MDR-P-
65 f
MDR-P-
65 a, b, d
MDR-P-
65 c
Additionally, the Compliance Department ensures the operational management and
monitoring of the implementation of the Code of Conduct. The policies and procedures are
regularly reviewed and updated to reflect the legislative or regulatory changes and
developments in the Bank's business activities.
BRD Group acts in accordance with and cooperates with those international initiatives with
which it has chosen to endorse, which include: the United Nations Global Compact; the
Statement by Financial Institutions on the Environment and Sustainable Development
(United Nations Environment Programme); the Equator Principles; the Wolfsberg AML
Principles.
The SG Code of Conduct is transposed at local level through the Deontology Code, which is
consulted with different internal stakeholders (e.g. legal department, human resources
department, Labour Union), and further relevant suggestions are integrated. The
stakeholders are consulted via email and/or meetings.
The Code of Conduct is available on corporate website and communicated through internal
channels to ensure all employees are aware of and understand its content. Furthermore,
third parties in relation to BRD Group are informed about SG Code of Conduct through a
CSR clause, that is mandatory to be inserted in all the contracts concluded with third
parties.
BRD Group’s Conflict of Interests Policy
BRD Group has implemented a comprehensive Conflict of Interests Policy to ensure that it
operates in full compliance with national legislation (NBR Regulation no. 5/2013, with
further amendments on prudential requirements for credit institutions) and European
legislation (especially MiFID II Directive). This policy integrates provisions from the Code of
Ethics, the Policy for Selection, Monitoring, and Succession Planning of Management Body
Members, the Rules of Organization and Functioning of the Management Bodies (Board of
Directors and Executive Committee), and the Conflict of Interests Instruction. Its primary
purpose is to prevent any potential conflicts between BRD Group and its customers,
employees, third parties, or suppliers, covering all entities within the Group. The policy
emphasizes transparency, effective management of conflict risks, and the promotion of
stakeholder trust and engagement. The material IROs covered by this policy are the ones
related to “Corporate Culture” and “Anti-corruption and Bribery Prevention and
Detection”.
A conflict of interest is defined as a situation where an individual’s personal interests
conflict with the Group’s interests, potentially affecting their objectivity and decision-
making. To ensure compliance, BRD Group conducts regular internal audits, controls, and
dedicated compliance actions such as training and quarterly assessments. These efforts
help monitor the effectiveness of conflict management mechanisms and ensure alignment
with evolving legislation and internal guidelines. Additionally, the Conflict of Interests
Policy is reviewed at least annually to adapt to new legal requirements and SG guidelines.
BRD Group’s EC establishes, approves, and supervises the implementation and
maintenance of effective policies for identifying, evaluating, managing and reducing or
MDR-P-
65 e
MDR-P-
65 f
MDR-P-
65 a, b
G1-3-18-
MDR-P-
65 c
MDR-P-
65 d
G-1-10-b
preventing current conflicts of interest. Additionally, the Compliance Department ensures
the management and monitoring of the implementation of the Conflict of Interest Policy.
The policies and procedures are regularly reviewed and updated to reflect the legislative
or regulatory changes and changes in the Group’s business activities.
To implement this policy effectively, key internal stakeholders (i.e., Legal, Human
Resources, Risk) are consulted. Their input is carefully reviewed, and relevant
recommendation are integrated into the policy. The consultation process is conducted
through email exchanges and online meetings.
The Conflict of Interest Policy is available on BRD Group’s corporate website. The policy is
also communicated through internal channels to ensure all employees are aware of and
understand its provisions.
Principles and Rules Governing the Fight Against Corruption
To ensure a high level of compliance with legislation, regulations, banking standards, as
well as internal directives/procedures/instructions and corporate governance principles,
all companies within the BRD Group have adhered to the “Principles and Rules Governing
the Fight Against Corruption”. These principles define several terms and regulate the
conduct that BRD Group employees must adopt regarding the following aspects: the
granting of undue benefits and bribes; recruiting and evaluation of employees; giving or
receiving gifts or invitations to business meals or external events; the use of a third party
intermediary or supplier; "facilitation" payments; sponsorship and patronage; political and
religious donations; corruption or influence trafficking related to clients; advocacy
activities; conflict of interest; documentation, accounting and archiving. This policy covers
all the material IROs related to Business Conduct sub-topics.
There are internal and SG audit missions in order to monitor the deontological process, in
particular with focus on anti-bribery and corruption. Furthermore, there are dedicated
actions at Compliance level (dedicated trainings for most exposed persons to ABC risk,
quarterly controls and compliance indicators, ABC risk assessment, dedicated reporting to
the management) in order to monitor the adequacy of the management of anti-bribery
and corruption mechanism, in line with the applicable laws, including laws prohibiting
corruption, bribery and influence peddling.
BRD Group’s EC is responsible for implementing the commitment to fight bribery and
corruption, notably through communication campaigns targeting all employees. The
Compliance Department defines and implements the anti-corruption program and ensures
its effectiveness. It provides information and guidance to support the EC’s responsibilities,
ensuring that anti-corruption topics receive the necessary focus and that appropriate
resources are available to comply with the provisions outlined in normative framework.
The policy "Principles and Rules Governing the Fight Against Corruption” is aligned with SG
values and global anti-bribery and corruption standards, including the United Nations
Convention against Corruption. This alignment is based either on SG's operational presence
in various countries or the extraterritorial nature of certain regulations, such as the U.S.
MDR-P-
65 e, f
G1-3-20
Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act (UKBA). Additionally, the policy
in aligned with guidelines from international frameworks, including the United Nations
Convention against Corruption, Wolfsberg Group’s Anti-Bribery and Corruption (ABC)
Compliance Program Guidance; UK Bribery Act, U.S. Foreign Corrupt Practices Act (FCPA).
Similarly to all other internal normative processes, the feedback from internal stakeholders
is collected and addressed within the approval process. The policy is also available on BRD
Group’s corporate website and is communicated to all employees through internal
channels. Interested third parties are informed about the "Principles and Rules Governing
the Fight Against Corruption" through an ABC clause, which is included in contracts with
third parties based on the risk rating and contract value.
G1-3-18-
a
G1-1-10-
a, b, c, d
Procedures for Identifying, Reporting and Investigating Concerns About Unlawful
Behaviour, Including Whistleblowing Channel
BRD Group's system for preventing and detecting cases of corruption includes the Code of
Conduct (see above), the Principles and Rules Governing the Fight Against Corruption (see
above), a Whistleblowing Mechanism and a specific Training Program.
Whistleblowing Mechanism
BRD Group has implemented a secure whistleblowing mechanism in accordance with NBR
Regulation 5/2013, allowing employees, service providers, and other stakeholders to report
ethical violations, misconduct, and illegal activities, including corruption and influence
peddling, conflict of interest, theft of goods, misappropriation of funds, anti-competitive
practices, non-compliance with international sanctions, market abuse, money laundering,
terrorist financing, accounting and tax fraud, human resource rights (discrimination,
harassment, health and safety at work, human rights and fundamental freedoms, security,
privacy and data protection, document tampering or falsification). The whistleblowing
channel is accessible through the corporate website and ensures strict confidentiality and
personal data protection. Reports can be submitted anonymously via the WhistleB platform,
where whistleblowers receive a unique login and password to track the status of their report
and securely communicate with the designated compliance officer, the BRD Whistleblowing
(WBL) Referent, who is responsible for managing and investigating alerts. Additionally, SG
provides an independent whistleblowing platform available to all staff members, offering an
additional layer of protection.
BRD Group's whistleblowing system accommodates reporting from both internal and external
stakeholders, ensuring that concerns are addressed in a structured and transparent manner.
Employees may also report issues directly to their line managers, the Human Resources
department (for cases related to harassment or discrimination), or the Chief Compliance
Officer (CCO) in addition to any locally designated Whistleblowing Officer.
BRD Group ensures full compliance with Directive (EU) 2019/1937 by implementing strong
protections through normative documentation for whistleblowers against retaliation,
including dismissal, demotion, salary reductions, intimidation, discrimination, and other
forms of unfair treatment. Whistleblowers who believe they are facing retaliation are
encouraged to file a new report, and BRD Group commits to investigating such claims
G1-3.18-b
G1-3.18-c
G1-1-10-
e
G1-1-10-
h
G1-1-10-g
promptly. It is also prohibited to include the whistleblowers on industry blacklists that could
impact their future employment opportunities. In cases where a whistleblower experiences
any of these forms of retaliation, BRD Group provides clear channels for reporting and
addressing such issues.
When a whistleblowing report falls within the scope of anti-bribery and corruption, the
person or persons who received it, will determine the persons to be involved in handling the
report (Legal, Internal Audit, HR, etc). The Whistleblowing Referent will decide if an external
company/ firm should be involved in the analysis of the report.
At the end of the investigation phase of the report, the person or persons involved in handling
the report may propose any appropriate measure, including the implementation of corrective
measures or even disciplinary sanctions, actions performed through investigating committee
where mandatory members (Legal, Human Resources, Compliance) are separate from the
management body involved in the matter.
Additionally, the investigators or investigating committee are separate from the chain of
management involved in the matter.
The number of persons who have knowledge of a whistleblowing report and its contents must
be strictly limited to those who are intended to intervene in the investigation or who must be
informed of the existence and content of the report, according to the principles of
confidentiality.
The main findings of the investigations concluded are reported to the EC by the Executive
Director of Compliance.
In addition to whistleblower protections, BRD Group has clear procedures for investigating
business conduct incidents, including corruption and bribery. Reports are processed in
accordance with the internal normative framework, ensuring that all cases are handled
independently, objectively, and in compliance with legal requirements. Investigations follow
a structured process with predefined timelines and involve designated compliance officers.
For incidents outside the scope of whistleblowing, BRD group has established specific internal
policies, such as its Internal Regulation, which detail the procedures for investigating other
types of reported misconduct through the HR department.
Functions at Risk of Corruption and Bribery
BRD Group has identified specific positions particularly exposed to the risk of corruption
based on criteria such as direct interaction with clients or third parties who have decision-
making authority or influence over contracts the Group may enter into. High-risk roles also
include those engaging with Public Officials, Significant Public Officials (SPOs), and Politically
Exposed Persons (PEPs) who have influence over the Group’s business activities. Most
Exposed Persons to risk of corruption and bribery include members of governing bodies, all
Executive Committee members, and, if not part of these committees, functions such as HR
and Legal, as well as commercial managers responsible for business development, purchasing
employees involved in procurement and supplier selection, and other employees other
employees in similar positions. To mitigate corruption risks, individuals in these roles receive
specialized training tailored to their responsibilities.
G1-3-21-
a,b,c
Anti-Bribery and Corruption Training Program
To reinforce its whistleblowing framework and strengthen its anti-corruption measures, BRD
Group provides a comprehensive training and awareness program designed to prevent and
detect corruption and bribery. This program includes mandatory Anti-Bribery and Corruption
(ABC) e-learning courses, interactive training sessions, and dedicated onboarding programs
such as "Welcome to BRD" to educate employees about whistleblowing procedures, their
rights, and the importance of promptly reporting misconduct. Employees are required to
remain vigilant and adhere to the Group’s zero-tolerance policy on corruption, including the
use of whistleblowing channels to report incidents. The ABC training covers a wide range of
topics, including the collective and individual impact of corruption, extraterritorial ABC
legislation, case studies addressing real-world ABC scenarios, and best practices for managing
corruption risks at BRD. Additionally, employees receive guidance on ABC processes and
frameworks implemented within the Bank, including conflict of interest management,
procedures for declaring gifts, business meals, and external events, as well as detailed
information on the whistleblowing channels available. Employees are encouraged to seek
advice from their managers or the Compliance Executive Director when facing ethical
dilemmas or uncertainties regarding whistleblowing and ABC-related matters.
Table 27 – ABC Training -related information
2024 | At-risk functions |
Training coverage | |
Total | 276 |
Total employees receiving training | 272 |
Delivery method and duration | |
Classroom training (hours) | 30 |
Virtual Classroom (hours) | 132 |
Regulatory Computer-based | 158 |
Non-regulatory computer-based | 61 |
Voluntary computer-based training (hours) | 17 |
Frequency | |
How often training is required | annually |
Topics covered | |
Definition of corruption | Most exposed staff to corruption money laundry and terrorism the financing of terrorism. |
Policy | |
Procedures on suspicion/detection | SG Group Code of Conduct BRD Conflict of interests BRD against corruption |
MDR-A | Actions Related to Business Conduct During 2024, interest organization. monthly |
MDR-T
reinforce the principles outlined in the SG’s Code of Conduct. These measures cover all
material IROs related to Business Conduct, ensuring compliance with good professional
practices. The Group’s ethical framework is supported by dedicated internal policies such as
the Deontology Code, Conflict of Interest instruction, and Whistleblowing instruction. This
holistic approach affects all employees and third parties, as compliance with the Code of
Conduct is mandatory and reinforced through CSR clauses in contracts with third parties.
The scope of these actions extends across the entire BRD Group, applying to all subsidiaries
and partners. The implementation of these actions is monitored through a quarterly maturity
assessment based on five key pillars: Governance Framework, Culture & Conduct Monitoring,
Conduct Risk Management, HR Processes, and Communication. The Bank’s target is to reach
an “Advanced” level of maturity across all five pillars, with a quarterly update of the progress
presented to the Compliance Committee. The Bank continues to address the risk of bribery
and corruption by enhancing its governance framework, regularly conducting risk
assessments, and delivering ABC training through e-learning and face-to-face sessions. As
part of its ongoing efforts, BRD has published its “Principles and Rules Governing the Fight
Against Corruption” on its website and incorporated anti-corruption clauses in contracts with
non-client third parties.
Future actions focus on strengthening the Culture & Conduct framework, enhancing ABC risk
management, and maintaining a zero-tolerance policy on corruption. BRD Group will reassess
its maturity level annually and continue to provide training and communication to staff,
ensuring that all relevant stakeholders are engaged in upholding the Bank’s commitment to
ethical conduct and anti-corruption efforts.
Targets
For the material IROs related to Business Conduct. BRD Group has not identified any material
targets relevant to be disclosed. The Group established processes are anchored within the
functions that have day-to-day responsibility for ensuring adherence to its policies.
Annexes
Annex 1 - Content Index - list of the Disclosure Requirements
List of disclosure requirements | Page | ||
ESRS 2 General Disclosure | |||
General basis for preparation | |||
Disclosures in relation | |||
The role of the administrative, | |||
Information provided to undertaking’s administrative, management | |||
Integration of sustainability-related | |||
Statement on due diligence | |||
GOV-5 | Risk management and | ||
SBM-1 | Strategy, business model and value chain | ||
SBM-2 | Interests and views of stakeholders | ||
SBM-3 | Material impacts, risks and strategy and business | ||
IRO-1 | Description of the process and opportunities | ||
IRO-2 | Disclosure Requirements sustainability statement | ||
ESRS E1 Climate change | |||
ESRS 2 GOV-3 | Integration of sustainability-related | ||
E1-1 | Transition plan for climate change | ||
ESRS 2 SBM-3 | Material impacts, risks and strategy and business | ||
E1-2 | Policies related to climate | ||
E1-3 | Actions and resources in | ||
E1-4 | Targets related to climate change mitigation | ||
E1-5 | Energy consumption and | ||
E1-6 | Gross Scopes 1, 2, 3 and Total GHG emissions | ||
List of disclosure requirements | Page | |||
ESRS S1 Own workforce | ||||
ESRS 2 SBM-3 | Material impacts, risks and strategy and business | |||
S1-1 | Policies related to own workforce | |||
S1-2 | Processes for engaging with representatives about | |||
S1-3 | Processes to remediate negative workforce to raise concerns | |||
S1-4 | Taking action on material impacts on to managing material to own workforce, and | |||
S1-5 | Targets related to managing material negative positive impacts, and | |||
S1-6 | Characteristics of the undertaking’s | |||
S1-7 | Characteristics of non-employees | |||
S1-8 | Collective bargaining coverage | |||
S1-9 | Diversity metrics | |||
S1-10 | Adequate wages | |||
S1-13 | Training and skills development | |||
S1-14 | Health and safety metrics | |||
S1-16 | Remuneration metrics (pay | |||
S1-17 | Incidents, complaints and | |||
ESRS S4 Consumers | ||||
ESRS 2 SBM-3 | Material impacts, risks and strategy and business | |||
S4-1 | Policies related to consumers | |||
S4-2 | Processes for engaging with | |||
S4-3 | Processes to remediate negative and end-users to raise concerns | |||
S4-4 | Taking action on material impacts on approaches to managing opportunities related to consumers those actions | |||
S4-5 | Targets related to managing material negative positive impacts, and | |||
ESRS G1 Business conduct | ||
G1-GOV-1-5 | The role of the administrative, | 70-71 |
G1-1 | Business conduct policies | 198 |
G1-3 | Prevention and detection |
Annex 2 - List of datapoints in cross -cutting and topical standards that derive
from other EU legislation
Disclosure Requirement and related datapoint | SFDR reference | Pillar 3 reference | Benchmark Regulation reference | EU Climate Law reference | Pages |
ESRS 2 GOV-1 Board's gender paragraph 21 (d) | x | x | 72 | ||
ESRS 2 GOV-1 Percentage who are independent paragraph 21 (e) | x | 72 | |||
ESRS 2 GOV-4 Statement on paragraph 30 | x | 72-73 | |||
ESRS 2 SBM-1 Involvement in activities related to fossil fuel activities paragraph 40 (d) i | x | x | x | Not material | |
ESRS 2 SBM-1 Involvement in activities related to chemical production paragraph 40 (d) ii | x | x | Not material |
Disclosure Requirement and related datapoint | SFDR reference | Pillar 3 reference | Benchmark Regulation reference | EU Climate Law reference | Pages |
related to controversial weapons paragraph 40 (d) iii | x | x | Not material | ||
related to cultivation and production of tobacco paragraph 40 (d) iv | x | Not material | |||
ESRS E1-1 Transition plan to reach neutrality by 2050 paragraph 14 | x | 105 | |||
ESRS E1-1 Undertakings excluded from Paris-aligned Benchmarks paragraph 16 (g) | x | x | 105 | ||
ESRS E1-4 GHG emission reduction targets paragraph 34 | x | x | x | 123-126 | |
ESRS E1-5 Energy consumption from fossil sources disaggregated by sources (only high climate impact sectors) paragraph 38 | x | Not material | |||
ESRS E1-5 Energy consumption and mix paragraph 37 | x | 127-128 | |||
ESRS E1-5 Energy intensity associated with activities in high climate impact sectors paragraphs 40 to 43 | x | Not material | |||
ESRS E1-6 Gross Scope 1, 2, 3 and Total GHG emissions paragraph 44 | x | x | x | 128-129 | |
ESRS E1-6 Gross GHG emissions intensity paragraphs 53 to 55 | x | x | x | 138 | |
ESRS E1-7 GHG removals and carbon credits paragraph 56 | x | Not material | |||
ESRS E1-9 Exposure of the benchmark portfolio to climate-related physical risks paragraph 66 | x | Not material (phase- in) | |||
ESRS E1-9 Disaggregation of monetary amounts by acute and chronic physical risk paragraph 66 (a) ESRS E1-9 Location of significant assets at material physical risk paragraph 66 (c) | x | Not material (phase- in) | |||
ESRS E1-9 Breakdown of the carrying value of its real estate assets by energy-efficiency classes paragraph 67 (c) | x | Not material (phase- in) | |||
ESRS E1-9 Degree of exposure of the portfolio to climate- paragraph 69 | x | Not material (phase- in) | |||
ESRS E2-4 Amount of each pollutant listed in Annex II of the E-PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water and soil, paragraph 28 | x | Not material (phase- in) | |||
ESRS E3-1 Water and marine paragraph 9 | x | Not material | |||
ESRS E3-1 Dedicated policy paragraph 13 | x | Not material | |||
ESRS E3-1 Sustainable oceans and seas paragraph 14 | x | Not material | |||
ESRS E3-4 Total water recycled paragraph 28 (c) | x | Not material | |||
ESRS E3-4 Total water consumption per net revenue on own operations paragraph 29 | x | Not material | |||
ESRS 2- SBM 3 - E4 paragraph 16 (a) i | x | Not material | |||
ESRS 2- SBM 3 - E4 paragraph 16 (b) | x | Not material | |||
ESRS 2- SBM 3 - E4 paragraph 16 (c) | x | Not material | |||
ESRS E4-2 Sustainable land / agriculture practices or policies paragraph 24 (b) | x | Not material | |||
ESRS E4-2 Sustainable oceans / seas practices or policies paragraph 24 (c) | x | Not material | |||
ESRS E4-2 Policies to address deforestation paragraph 24 (d) | x | Not material | |||
ESRS E5-5 Non-recycled waste paragraph 37 (d) | x | Not material | |||
ESRS E5-5 Hazardous waste and radioactive waste paragraph 39 | x | Not material | |||
ESRS 2- SBM3 - S1 Risk of incidents of forced labour paragraph 14 (f) | x | 148 | |||
ESRS 2- SBM3 - S1 Risk of incidents of child labour paragraph 14 (g) | x | 148 | |||
ESRS S1-1 Human rights policy commitments paragraph 20 | x | 152-153 | |||
ESRS S1-1 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8, paragraph 21 | x | 152-153 | |||
ESRS S1-1 processes and measures for preventing trafficking in human beings paragraph 22 | x | Not material | |||
ESRS S1-1 workplace accident prevention policy or management system paragraph 23 | x | 151 |
Disclosure Requirement and related
datapoint
SFDR reference
Pillar 3 reference
Benchmark
Regulation
reference
EU Climate Law
reference
Pages
ESRS S1-3 grievance/complaints handling
mechanisms paragraph 32 (c)
x
155-156
ESRS S1-14 Number of fatalities and number
and rate of work-related accidents paragraph
88 (b) and (c)
x
x
167-168
ESRS S1-14 Number of days lost to injuries,
accidents, fatalities or illness paragraph 88 (e)
x
167-168
ESRS S1-16 Unadjusted gender pay gap
paragraph 97 (a)
x
x
168-169
ESRS S1-16 Excessive CEO pay ratio
paragraph 97 (b)
x
168-169
ESRS S1-17 Incidents of discrimination
paragraph 103 (a)
x
169
ESRS S1-17 Non-respect of UNGPs on
Business and Human Rights and OECD
Guidelines paragraph 104 (a)
x
x
169
ESRS 2- SBM3 – S2 Significant risk of child
labour or forced labour in the value chain
paragraph 11 (b)
x
Not material
ESRS S2-1 Human rights policy
commitments paragraph 17
x
Not material
ESRS S2-1 Policies related to value chain
workers paragraph 18
x
Not material
ESRS S2-1Non-respect of UNGPs on
Business and Human Rights principles and
OECD guidelines paragraph 19
x
x
Not material
ESRS S2-1 Due diligence policies on issues
addressed by the fundamental International
Labor Organisation Conventions 1 to 8,
paragraph 19
x
Not material
ESRS S2-4 Human rights issues and incidents
connected to its upstream and downstream
value chain paragraph 36
x
Not material
ESRS S3-1 Human rights policy
commitments paragraph 16
x
Not material
ESRS S3-1 non-respect of UNGPs on
Business and Human Rights, ILO principles
or OECD guidelines paragraph 17
x
x
Not material
ESRS S3-4 Human rights issues and incidents
paragraph 36
x
Not material
ESRS S4-1 Policies related to consumers and
end-users paragraph 16
x
176
ESRS S4-1 Non-respect of UNGPs on
Business and Human Rights and OECD
guidelines paragraph 17
x
x
176
ESRS S4-4 Human rights issues and incidents
paragraph 35
x
Not material
ESRS G1-1 United Nations Convention
against Corruption paragraph 10 (b)
x
196
ESRS G1-1 Protection of whistle- blowers
paragraph 10 (d)
x
197
ESRS G1-4 Fines for violation of anti-
corruption and anti-bribery laws paragraph 24
(a)
x
x
Not material
ESRS G1-4 Standards of anti- corruption and
anti- bribery paragraph 24 (b)
x
Not material
Annex 3 - Abbreviations
ANSPDCP - National Supervisory Authority ASF – Financial Supervisory Authority BES - Business Environment BoD -Board of Directors CCVI – Climate Change Vulnerability CEO - Chief Executive CISO- Chief Information Security CSR - Corporate Social Responsibility CSRD - Corporate Sustainability DE&I - Diversity, DAF – Antifraud Direction DMA- DPIA - Data Protection DPO - Data Protection Officer EC- Executive Committee EFRAG - European Financial Reporting EIB - European Investment EIF - European Investment E&S – Environmental & | GAR – Green Asset Ratio GDPR - General Data Protection GHG – Green House Gas ICT - Information and Communication ISS- ICVI - Industry Climate Vulnerability ICMA - International Capital IFC - International Finance Corporation IFRS- International Financial IROs Impacts, Risks and Opportunities KPI Key Performance Indicators LMA - Loan Market Association NZBA - Net-Zero Banking PI – Private Individuals RCVM - Retail Customers SFDR Sustainable Finance Disclosure SLL – Sustainable Linked Loans SME- Small and Medium Enterprises SPIF – Sustainable, Positive |
ESG – Environmental, Social and Governance
ESPIF - Social Environment and Positive Impact Financing
ESRS - European Sustainability Reporting Standards
ETF – Exchange Traded Fund
SG - Societe Generale
Annex 4 – Incorporated by reference
ESRS Disclosures/Data point | Requirement | Location |
GOV-1-21-a | (a) the number of executive and | Chapter 2 Corporate Governance of the current Annual Board of Directors’ Report 2024. |
GOV 1-21-c | The undertaking shall disclose composition and diversity of the members administrative, management and supervisory experience relevant to the sectors, products and locations of the undertaking. | Chapter 2 Corporate Governance of the current Annual Board of Directors’ Report 2024. |
SBM-1-40-a | Description of: i. significant offered, including changes in the reporting products and/or services) | Chapter 4. Group activity and results of the current Annual Board of Directors Report 2024 |
E1-2 (MDR-P 65 b) | Policies related to Climate Change - A description of the scope of terms of activities, upstream and/or geographies and if relevant, affected stakeholder groups | SG E&S sectoral policies: Industrial Agriculture and Forestry, Dams and Hydropower, Thermal Power, Thermal Coal, Security, Mining, Nuclear Power, Tobacco. |
Annex 5 – Templates for the KPIs of credit institutions
Template 0. Summary of KPIs to be disclosed by credit institutions under Article 8 Taxonomy
Regulation – Financial year end 31 December 2024
KRON | Total environmentally sustainable | Turnover KPI (****) | CapEx KPI (*****) | % coverage (over total assets) | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) of Annex V | |
Main KPI | Green asset | 163,254 | 0.26% | 1.20% | 70.01% | 28.07% | 29.99% |
KRON | Total environmentally sustainable | KPI | KPI | % coverage (over total assets) | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) of Annex V | |
Additional KPIs | GAR (flow) | 44,796 | 0.34% | 0.71% | 92.0% | 39.8% | 8.0% |
Trading | |||||||
Financial guarantees | 182,949 | 7.06% | 36.64% | ||||
Assets under | |||||||
Fees and commissions income** | |||||||
Template 0. Summary of KPIs to be disclosed by credit institutions under Article 8 Taxonomy
Regulation – Financial year end 31 December 2023 (as restated)
KRON | Total environmentally sustainable assets | Turnover KPI (****) | CapEx KPI (*****) | % coverage (over total assets) (***) | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V | |
Main KPI | Green asset ratio (GAR) stock | 130,318 | 0.24% | 1.26% | 64.46% | 22.40% | 35.54% |
(*) For credit institutions that do not meet the conditions of Article 94(1) of the CRR or the conditions set out in Article 325a(1) of the CRR.
(**) Fees and commissions income from services other than lending and AuM. Instutitons shall disclose forward-looking information for these KPIs, including information in
terms of targets, together with relevant explanations on the methodology applied.
(***) % of assets covered by the KPI over banks’ total assets.
(****) Based on the Turnover KPI of the counterparty.
(*****) Based on the CapEx KPI of the counterparty, except for lending activities where for general lending Turnover KPI is used.
Template 1.Assets for the calculation of GAR (Turnover) – Financial year end 31 December
2024
Climate Change Mitigation (CCM) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
G AR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 17,636,254 | 163.049 | - | 6.842 | 32.205 | |
2 | Financial undertakings | 6,868,739 | 1,311,926 | 76.86 | - | 6.585 | 12.991 | |
3 | Credit institutions | 6,868,724 | 1,311,926 | 76.859 | - | 6.585 | 12.99 | |
4 | Loans and advances | 6,868,724 | 1,311,926 | 76.859 | - | 6.585 | 12.99 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 1 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | 15 | - | - | - | - | - | |
13 | Loans and advances | 15 | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | 1 | - | - | - | - | - | |
17 | Loans and advances | 1 | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 2,401,404 | 443.116 | 86.188 | - | 257 | 19.214 | |
21 | Loans and advances | 2,401,404 | 443.116 | 86.188 | - | 257 | 19.214 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 27,318,450 | 15,881,211 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 16,465,630 | 15,881,211 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,388,226 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,388,226 | - | - | - | - | - | |
31 | Collateral obtained by taking possession: residential and commercial immovable | 6.487 | - | - | - | - | - | |
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 25,417,733 | - | - | - | - | - | |
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 17,636,254 | 163.049 | - | 6.842 | 32.205 | |
49 | Assets not covered for GAR calculation | 27,155,050 |
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 17,636,254 | 163.049 | - | 6.842 | 32.205 | |
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 307.64 | 182.936 | 762 | 39.115 | |||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Climate Change Adaptation (CCA) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
G AR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 649 | 130 | - | - | ||
2 | Financial undertakings | 6,868,739 | 649 | 130 | - | - | ||
3 | Credit institutions | 6,868,724 | 649 | 130 | - | - | ||
4 | Loans and advances | 6,868,724 | 649 | 130 | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | - | - | - | - | ||
21 | Loans and advances | 2,401,404 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 16,465,630 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 6.487 | - | - | - | - | ||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 25,417,733 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 649 | 130 | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 649 | 130 | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 443 | 3 | |||||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Water and marine resources (WTR) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
G AR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | - | - | - | - | ||
2 | Financial undertakings | 6,868,739 | - | - | - | - | ||
3 | Credit institutions | 6,868,724 | - | - | - | - | ||
4 | Loans and advances | 6,868,724 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | - | - | - | - | ||
21 | Loans and advances | 2,401,404 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | ||||||
25 | of which loans collateralised by residential immovable property | 16,465,630 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 6.487 | - | - | - | - | ||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 25,417,733 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | - | - | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | - | - | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | - | - | - | - | |||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Circular economy (CE) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
G AR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 253 | 0 | - | - | ||
2 | Financial undertakings | 6,868,739 | 0 | 0 | - | - | ||
3 | Credit institutions | 6,868,724 | 0 | - | - | - | ||
4 | Loans and advances | 6,868,724 | 0 | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | 252 | - | - | - | ||
21 | Loans and advances | 2,401,404 | 252 | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 16,465,630 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 6.487 | - | - | - | - | ||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 25,417,733 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 253 | 0 | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 253 | 0 | - | - |
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 2.643 | 3 | |||||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Pollution (PPC) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
G AR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 76 | 76 | - | - | ||
2 | Financial undertakings | 6,868,739 | 76 | 76 | - | - | ||
3 | Credit institutions | 6,868,724 | 76 | 76 | - | - | ||
4 | Loans and advances | 6,868,724 | 76 | 76 | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | - | - | - | - | ||
21 | Loans and advances | 2,401,404 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | ||||||
25 | of which loans collateralised by residential immovable property | 16,465,630 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 6.487 | - | - | - | - | ||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 25,417,733 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 76 | 76 | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 76 | 76 | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 8 | ||||||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Biodiversity and Ecosystems (BIO) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
G AR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 0 | - | - | - | ||
2 | Financial undertakings | 6,868,739 | 0 | - | - | - | ||
3 | Credit institutions | 6,868,724 | 0 | - | - | - | ||
4 | Loans and advances | 6,868,724 | 0 | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | - | - | - | - | ||
21 | Loans and advances | 2,401,404 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | ||||||
25 | of which loans collateralised by residential immovable property | 16,465,630 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 6.487 | - | - | - | - | ||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 25,417,733 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 |
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 0 | - | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 0 | - | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 20 | ||||||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
G AR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 17,637,231 | 163.254 | - | 6.842 | 32.205 | |
2 | Financial undertakings | 6,868,739 | 1,312,651 | 77.066 | - | 6.585 | 12.991 | |
3 | Credit institutions | 6,868,724 | 1,312,651 | 77.065 | - | 6.585 | 12.99 | |
4 | Loans and advances | 6,868,724 | 1,312,651 | 77.065 | - | 6.585 | 12.99 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 1 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | 15 | - | - | - | - | - | |
13 | Loans and advances | 15 | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | 1 | - | - | - | - | - | |
17 | Loans and advances | 1 | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 2,401,404 | 443.369 | 86.188 | - | 257 | 19.214 | |
21 | Loans and advances | 2,401,404 | 443.369 | 86.188 | - | 257 | 19.214 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 27,318,450 | 15,881,211 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 16,465,630 | 15,881,211 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,388,226 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,388,226 | - | - | - | - | - | |
31 | Collateral obtained by taking possession: residential and commercial immovable | 6.487 | - | - | - | - | - | |
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 25,417,733 | - | - | - | - | - | |
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 17,637,231 | 163.254 | - | 6.842 | 32.205 | |
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 17,637,231 | 163.254 | - | 6.842 | 32.205 | |
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 310.746 | 182.949 | 762 | 39.115 | |||
55 | Assets under management | |||||||
56 | Of which debt securities |
57 | Of which equity instruments | |||||||
Template 1.Assets for the calculation of GAR (Turnover) – Financial year restated) | ||||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||||
Total [gross] carrying amount | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | |||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which | Of which | |||||
Proceeds | transitional | enabling | ||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 15,952,236 | 130.161 | - | 5.382 | 26.31 | |
2 | Financial undertakings | 5,184,116 | 916.938 | 53.019 | - | 5.129 | 9.095 | |
3 | Credit institutions | 5,184,100 | 916.938 | 53.019 | - | 5.129 | 9.094 | |
4 | Loans and advances | 5,184,100 | 916.938 | 53.019 | - | 5.129 | 9.094 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 0 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | - | - | - | - | - | - | |
13 | Loans and advances | - | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | - | - | - | - | - | - | |
17 | Loans and advances | - | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 5,259,271 | 533.918 | 77.141 | - | 252 | 17.215 | |
21 | Loans and advances | 5,259,271 | 533.918 | 77.141 | - | 252 | 17.215 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 24,423,146 | 14,501,379 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 15,215,373 | 14,501,379 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,195,658 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,195,658 | - | - | - | - | - | |
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | - | |
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | - | |
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | 15,952,236 | 130.161 | - | 5.382 | 26.31 | |
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 15,952,236 | 130.161 | - | 5.382 | 26.31 | |
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 265.598 | 134.433 | 536 | 40.643 | |||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||||
Total [gross] carrying amount | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | |||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 509 | 102 | - | - | ||
2 | Financial undertakings | 5,184,116 | 509 | 102 | - | - | ||
3 | Credit institutions | 5,184,100 | 509 | 102 | - | - | ||
4 | Loans and advances | 5,184,100 | 509 | 102 | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | - | - | - | - | ||
21 | Loans and advances | 5,259,271 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 15,215,373 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 |
48 | Total GAR assets | 55,263,690 | 509 | 102 | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 509 | 102 | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 532 | 1 | |||||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Water and marine resources (WTR) | |||||||
Total [gross] carrying amount | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | |||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | - | - | - | - | ||
2 | Financial undertakings | 5,184,116 | - | - | - | - | ||
3 | Credit institutions | 5,184,100 | - | - | - | - | ||
4 | Loans and advances | 5,184,100 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | - | - | - | - | ||
21 | Loans and advances | 5,259,271 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | ||||||
25 | of which loans collateralised by residential immovable property | 15,215,373 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | - | - | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | - | - | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | - | - | - | - | |||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Circular economy (CE) | |||||||
Total [gross] carrying amount | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | |||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 413 | 0 | - | - | ||
2 | Financial undertakings | 5,184,116 | - | 0 | - | - | ||
3 | Credit institutions | 5,184,100 | - | - | - | - | ||
4 | Loans and advances | 5,184,100 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | 413 | - | - | - | ||
21 | Loans and advances | 5,259,271 | 413 | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 15,215,373 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | 413 | 0 | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 413 | 0 | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 2.963 | 0 | |||||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Pollution (PPC) | |||||||
Total [gross] carrying amount | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | |||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 56 | 56 | - | - | ||
2 | Financial undertakings | 5,184,116 | 56 | 56 | - | - | ||
3 | Credit institutions | 5,184,100 | 56 | 56 | - | - | ||
4 | Loans and advances | 5,184,100 | 56 | 56 | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | - | - | - | - | ||
21 | Loans and advances | 5,259,271 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | ||||||
25 | of which loans collateralised by residential immovable property | 15,215,373 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | 56 | 56 | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 56 | 56 | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |
54 | Financial guarantees | - | 0 | - | - | |||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||||
Total [gross] carrying amount | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | |||||||
Of which environmentally sustainable (Taxonomy- | ||||||||
KRON | aligned) | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | - | - | - | - | ||
2 | Financial undertakings | 5,184,116 | - | - | - | - | ||
3 | Credit institutions | 5,184,100 | - | - | - | - | ||
4 | Loans and advances | 5,184,100 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | - | - | - | - | ||
21 | Loans and advances | 5,259,271 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | ||||||
25 | of which loans collateralised by residential immovable property | 15,215,373 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | - | - | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | - | - | - | - | ||
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 24 | - | - | - | |||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Total [gross] carrying amount | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | |||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which | Of which | |||||
Proceeds | transitional | enabling | ||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 15,953,213 | 130.318 | - | 5.382 | 26.31 | |
2 | Financial undertakings | 5,184,116 | 917.503 | 53.177 | - | 5.129 | 9.095 | |
3 | Credit institutions | 5,184,100 | 917.503 | 53.177 | - | 5.129 | 9.094 | |
4 | Loans and advances | 5,184,100 | 917.503 | 53.177 | - | 5.129 | 9.094 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 0 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | - | - | - | - | - | - | |
13 | Loans and advances | - | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | - | - | - | - | - | - | |
17 | Loans and advances | - | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 5,259,271 | 534.331 | 77.141 | - | 252 | 17.215 | |
21 | Loans and advances | 5,259,271 | 534.331 | 77.141 | - | 252 | 17.215 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 24,423,146 | 14,501,379 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 15,215,373 | 14,501,379 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,195,658 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,195,658 | - | - | - | - | - | |
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | - | |
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | - | |
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 |
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | 15,953,213 | 130.318 | - | 5.382 | 26.31 | |
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 15,953,213 | 130.318 | - | 5.382 | 26.31 | |
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | ||||||||
54 | Financial guarantees | 269.116 | 134.434 | 536 | 40.643 | |||
55 | Assets under management | |||||||
56 | Of which debt securities | |||||||
57 | Of which equity instruments | |||||||
Template 1.Assets for the calculation of GAR (CapEx) | ||||||||
Climate Change Mitigation (CCM) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 18,573,059 | 760.21 | - | 16.682 | 225.069 | |
2 | Financial undertakings | 6,868,739 | 1,337,952 | 98.797 | - | 15.865 | 25.411 | |
3 | Credit institutions | 6,868,724 | 1,337,952 | 98.796 | - | 15.865 | 25.411 | |
4 | Loans and advances | 6,868,724 | 1,337,952 | 98.796 | - | 15.865 | 25.411 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 1 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | 15 | - | - | - | - | - | |
13 | Loans and advances | 15 | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | 1 | - | - | - | - | - | |
17 | Loans and advances | 1 | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 2,401,404 | 1,353,895 | 661.412 | - | 817 | 199.658 | |
21 | Loans and advances | 2,401,404 | 1,353,895 | 661.412 | - | 817 | 199.658 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 27,318,450 | 15,881,211 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 16,465,630 | 15,881,211 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,388,226 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,388,226 | - | - | - | - | - | |
Collateral obtained by taking possession: residential and commercial immovable properties | ||||||||
31 | 6.487 | - | - | - | - | - | ||
32 | Assets excluded from the numerator for GAR calculation (covered in the | 25,417,733 | - | - | - | - | - | |
denominator) | ||||||||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
obligations | ||||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
obligations | ||||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 18,573,059 | 760.21 | - | 16.682 | 225.069 | |
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 18,573,059 | 760.21 | - | 16.682 | 225.069 | |
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 949.555 | 672 | 412.552 | ||||
56 | Assets under management | - |
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Climate Change Adaptation (CCA) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 30.164 | 389 | - | - | ||
2 | Financial undertakings | 6,868,739 | 1.503 | 389 | - | - | ||
3 | Credit institutions | 6,868,724 | 1.503 | 389 | - | - | ||
4 | Loans and advances | 6,868,724 | 1.503 | 389 | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | 28.662 | - | - | - | ||
21 | Loans and advances | 2,401,404 | 28.662 | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 16,465,630 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | - | |||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
Collateral obtained by taking possession: residential and commercial immovable properties | ||||||||
31 | 6.487 | - | - | - | - | |||
32 | Assets excluded from the numerator for GAR calculation (covered in the | 25,417,733 | - | - | - | - | ||
denominator) | ||||||||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
obligations | ||||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
obligations | ||||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 30.164 | 389 | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 30.164 | 389 | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 9.969 | 23 | |||||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Water and marine resources (WTR) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | - | - | - | - | ||
2 | Financial undertakings | 6,868,739 | - | - | - | - | ||
3 | Credit institutions | 6,868,724 | - | - | - | - | ||
4 | Loans and advances | 6,868,724 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | - | - | - | - | ||
21 | Loans and advances | 2,401,404 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 16,465,630 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
Collateral obtained by taking possession: residential and commercial immovable properties | ||||||||
31 | 6.487 | - | - | - | - | |||
32 | Assets excluded from the numerator for GAR calculation (covered in the | 25,417,733 | - | - | - | - | ||
denominator) | ||||||||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
obligations | ||||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
obligations | ||||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - |
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | - | - | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | - | - | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | - | - | - | - | |||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Circular economy (CE) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 854 | - | - | - | ||
2 | Financial undertakings | 6,868,739 | 0 | - | - | - | ||
3 | Credit institutions | 6,868,724 | 0 | - | - | - | ||
4 | Loans and advances | 6,868,724 | 0 | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | 853 | - | - | - | ||
21 | Loans and advances | 2,401,404 | 853 | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 16,465,630 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
Collateral obtained by taking possession: residential and commercial immovable properties | ||||||||
31 | 6.487 | - | - | - | - | |||
32 | Assets excluded from the numerator for GAR calculation (covered in the | 25,417,733 | - | - | - | - | ||
denominator) | ||||||||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
obligations | ||||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
obligations | ||||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 854 | - | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 854 | - | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 1.658 | ||||||
56 | Assets under management | - | ||||||
57 | Of which debt securities |
58 | Of which equity instruments | |||||||
Pollution (PPC) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | - | 0 | - | - | ||
2 | Financial undertakings | 6,868,739 | - | 0 | - | - | ||
3 | Credit institutions | 6,868,724 | - | - | - | - | ||
4 | Loans and advances | 6,868,724 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | - | - | - | - | ||
21 | Loans and advances | 2,401,404 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 16,465,630 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
Collateral obtained by taking possession: residential and commercial immovable properties | ||||||||
31 | 6.487 | - | - | - | - | |||
32 | Assets excluded from the numerator for GAR calculation (covered in the | 25,417,733 | - | - | - | - | ||
denominator) | ||||||||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
obligations | ||||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
obligations | ||||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | - | 0 | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | - | 0 | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | - | 5 | - | - | |||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Biodiversity and Ecosystems (BIO) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 0 | - | - | - | ||
2 | Financial undertakings | 6,868,739 | 0 | - | - | - | ||
3 | Credit institutions | 6,868,724 | 0 | - | - | - | ||
4 | Loans and advances | 6,868,724 | 0 | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | 15 | - | - | - | - | ||
13 | Loans and advances | 15 | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | 1 | - | - | - | - | ||
17 | Loans and advances | 1 | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 2,401,404 | - | - | - | - | ||
21 | Loans and advances | 2,401,404 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 27,318,450 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 16,465,630 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,388,226 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,388,226 | - | - | - | - | ||
Collateral obtained by taking possession: residential and commercial immovable properties | ||||||||
31 | 6.487 | - | - | - | - | |||
32 | Assets excluded from the numerator for GAR calculation (covered in the | 25,417,733 | - | - | - | - | ||
denominator) | ||||||||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
obligations | ||||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
obligations | ||||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - |
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 0 | - | - | - | ||
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 0 | - | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 20 | - | - | - | |||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||
Financial year end 31 December 2024 | ||||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
KRON | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,976,819 | 18,604,076 | 760.599 | - | 16.682 | 225.069 | |
2 | Financial undertakings | 6,868,739 | 1,339,455 | 99.186 | - | 15.865 | 25.411 | |
3 | Credit institutions | 6,868,724 | 1,339,455 | 99.185 | - | 15.865 | 25.411 | |
4 | Loans and advances | 6,868,724 | 1,339,455 | 99.185 | - | 15.865 | 25.411 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 1 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | 15 | - | - | - | - | - | |
13 | Loans and advances | 15 | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | 1 | - | - | - | - | - | |
17 | Loans and advances | 1 | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 2,401,404 | 1,383,410 | 661.412 | - | 817 | 199.658 | |
21 | Loans and advances | 2,401,404 | 1,383,410 | 661.412 | - | 817 | 199.658 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 27,318,450 | 15,881,211 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 16,465,630 | 15,881,211 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,388,226 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,388,226 | - | - | - | - | - | |
Collateral obtained by taking possession: residential and commercial immovable properties | ||||||||
31 | 6.487 | - | - | - | - | - | ||
32 | Assets excluded from the numerator for GAR calculation (covered in the | 25,417,733 | - | - | - | - | - | |
denominator) | ||||||||
33 | Financial and Non-financial undertakings | 20,314,638 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 20,226,968 | ||||||
obligations | ||||||||
35 | Loans and advances | 20,047,698 | ||||||
36 | of which loans collateralised by commercial immovable | 4,090,881 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 25.924 | ||||||
39 | Equity instruments | 153.347 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 87.669 | ||||||
obligations | ||||||||
41 | Loans and advances | 87.669 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 410.455 | ||||||
46 | Cash and cash-related assets | 2,455,239 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,237,401 | ||||||
48 | Total GAR assets | 63,401,040 | 18,604,076 | 760.599 | - | 16.682 | 225.069 | |
49 | Assets not covered for GAR calculation | 27,155,050 | ||||||
50 | Central governments and Supranational issuers | 20,248,542 | ||||||
51 | Central banks exposure | 5,096,004 | ||||||
52 | Trading book | 1,810,504 | ||||||
53 | Total assets | 90,556,090 | 18,604,076 | 760.599 | - | 16.682 | 225.069 | |
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 949.583 | 672 | 412.552 | ||||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments |
Template 1.Assets for the calculation of GAR (CapEx) restated) | ||||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 16,940,401 | 693.507 | - | 12.629 | 202.122 | |
2 | Financial undertakings | 5,184,116 | 936.21 | 69.095 | - | 11.904 | 17.744 | |
3 | Credit institutions | 5,184,100 | 936.21 | 69.095 | - | 11.904 | 17.744 | |
4 | Loans and advances | 5,184,100 | 936.21 | 69.095 | - | 11.904 | 17.744 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 0 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | - | - | - | - | - | - | |
13 | Loans and advances | - | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | - | - | - | - | - | - | |
17 | Loans and advances | - | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 5,259,271 | 1,502,812 | 624.412 | - | 725 | 184.378 | |
21 | Loans and advances | 5,259,271 | 1,502,812 | 624.412 | - | 725 | 184.378 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 24,423,146 | 14,501,379 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 15,215,373 | 14,501,379 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,195,658 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,195,658 | - | - | - | - | - | |
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | - | |
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | - | |
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable property | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | 16,940,401 | 693.507 | - | 12.629 | 202.122 | |
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 16,940,401 | 693.507 | - | 12.629 | 202.122 | |
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 937.653 | 654 | 432.676 | ||||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 9.402 | 305 | - | - | ||
2 | Financial undertakings | 5,184,116 | 1.175 | 305 | - | - | ||
3 | Credit institutions | 5,184,100 | 1.175 | 305 | - | - | ||
4 | Loans and advances | 5,184,100 | 1.175 | 305 | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | 8.227 | - | - | - | ||
21 | Loans and advances | 5,259,271 | 8.227 | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 15,215,373 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable property | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 |
48 | Total GAR assets | 55,263,690 | 9.402 | 305 | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 9.402 | 305 | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 7.348 | 3 | |||||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Water and marine resources (WTR) | |||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | - | - | - | - | ||
2 | Financial undertakings | 5,184,116 | - | - | - | - | ||
3 | Credit institutions | 5,184,100 | - | - | - | - | ||
4 | Loans and advances | 5,184,100 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | - | - | - | - | ||
21 | Loans and advances | 5,259,271 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | ||||||
25 | of which loans collateralised by residential immovable property | 15,215,373 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable property | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | - | - | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | - | - | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | - | - | - | - | |||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Circular economy (CE) | |||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 593 | - | - | - | ||
2 | Financial undertakings | 5,184,116 | - | - | - | - | ||
3 | Credit institutions | 5,184,100 | - | - | - | - | ||
4 | Loans and advances | 5,184,100 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | 593 | - | - | - | ||
21 | Loans and advances | 5,259,271 | 593 | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | - | - | - | - | ||
25 | of which loans collateralised by residential immovable property | 15,215,373 | - | - | - | - | ||
26 | of which building renovation loans | - | - | - | - | - | ||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable property | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 |
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | 593 | - | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 593 | - | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 1.842 | ||||||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Pollution (PPC) | |||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | - | 0 | - | - | ||
2 | Financial undertakings | 5,184,116 | - | 0 | - | - | ||
3 | Credit institutions | 5,184,100 | - | - | - | - | ||
4 | Loans and advances | 5,184,100 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | 0 | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | - | - | - | - | ||
21 | Loans and advances | 5,259,271 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | ||||||
25 | of which loans collateralised by residential immovable property | 15,215,373 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable property | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | - | 0 | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | - | 0 | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | - | 0 | - | - | |||
56 | Assets under management | - |
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which enabling | ||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | - | - | - | - | ||
2 | Financial undertakings | 5,184,116 | - | - | - | - | ||
3 | Credit institutions | 5,184,100 | - | - | - | - | ||
4 | Loans and advances | 5,184,100 | - | - | - | - | ||
5 | Debt securities, including UoP | - | - | - | - | - | ||
6 | Equity instruments | - | - | - | - | |||
7 | Other financial corporations | 16 | - | - | - | - | ||
8 | of which investment firms | - | - | - | - | - | ||
9 | Loans and advances | - | - | - | - | - | ||
10 | Debt securities, including UoP | - | - | - | - | - | ||
11 | Equity instruments | - | - | - | - | |||
12 | of which management companies | - | - | - | - | - | ||
13 | Loans and advances | - | - | - | - | - | ||
14 | Debt securities, including UoP | - | - | - | - | - | ||
15 | Equity instruments | - | - | - | - | |||
16 | of which insurance undertakings | - | - | - | - | - | ||
17 | Loans and advances | - | - | - | - | - | ||
18 | Debt securities, including UoP | - | - | - | - | - | ||
19 | Equity instruments | - | - | - | - | |||
20 | Non-financial undertakings | 5,259,271 | - | - | - | - | ||
21 | Loans and advances | 5,259,271 | - | - | - | - | ||
22 | Debt securities, including UoP | - | - | - | - | - | ||
23 | Equity instruments | - | - | - | - | |||
24 | Households | 24,423,146 | ||||||
25 | of which loans collateralised by residential immovable property | 15,215,373 | ||||||
26 | of which building renovation loans | - | ||||||
27 | of which motor vehicle loans | - | ||||||
28 | Local governments financing | 1,195,658 | - | - | - | - | ||
29 | Housing financing | - | - | - | - | - | ||
30 | Other local government financing | 1,195,658 | - | - | - | - | ||
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | ||
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | ||
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable property | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 | ||||||
48 | Total GAR assets | 55,263,690 | - | - | - | - | ||
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | - | - | - | - | ||
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 24 | - | - | - | |||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments | |||||||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Total [gross] carrying amount | ||||||||
Of which towards taxonomy relevant sectors (Taxonomy | ||||||||
Of which environmentally sustainable (Taxonomy-aligned) | ||||||||
KRON | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 36,062,192 | 16,950,396 | 693.813 | - | 12.629 | 202.122 | |
2 | Financial undertakings | 5,184,116 | 937.385 | 69.401 | - | 11.904 | 17.744 | |
3 | Credit institutions | 5,184,100 | 937.385 | 69.4 | - | 11.904 | 17.744 | |
4 | Loans and advances | 5,184,100 | 937.385 | 69.4 | - | 11.904 | 17.744 | |
5 | Debt securities, including UoP | - | - | - | - | - | - | |
6 | Equity instruments | - | - | - | - | - | ||
7 | Other financial corporations | 16 | - | 0 | - | 0 | 0 | |
8 | of which investment firms | - | - | - | - | - | - | |
9 | Loans and advances | - | - | - | - | - | - | |
10 | Debt securities, including UoP | - | - | - | - | - | - | |
11 | Equity instruments | - | - | - | - | - | ||
12 | of which management companies | - | - | - | - | - | - | |
13 | Loans and advances | - | - | - | - | - | - | |
14 | Debt securities, including UoP | - | - | - | - | - | - | |
15 | Equity instruments | - | - | - | - | - | ||
16 | of which insurance undertakings | - | - | - | - | - | - | |
17 | Loans and advances | - | - | - | - | - | - | |
18 | Debt securities, including UoP | - | - | - | - | - | - | |
19 | Equity instruments | - | - | - | - | - | ||
20 | Non-financial undertakings | 5,259,271 | 1,511,632 | 624.412 | - | 725 | 184.378 | |
21 | Loans and advances | 5,259,271 | 1,511,632 | 624.412 | - | 725 | 184.378 | |
22 | Debt securities, including UoP | - | - | - | - | - | - | |
23 | Equity instruments | - | - | - | - | - | ||
24 | Households | 24,423,146 | 14,501,379 | - | - | - | - | |
25 | of which loans collateralised by residential immovable property | 15,215,373 | 14,501,379 | - | - | - | - | |
26 | of which building renovation loans | - | - | - | - | - | - | |
27 | of which motor vehicle loans | - | - | - | - | - | - | |
28 | Local governments financing | 1,195,658 | - | - | - | - | - | |
29 | Housing financing | - | - | - | - | - | - | |
30 | Other local government financing | 1,195,658 | - | - | - | - | - | |
31 | Collateral obtained by taking possession: residential and commercial immovable | 1.443 | - | - | - | - | - | |
properties | ||||||||
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 19,200,056 | - | - | - | - | - | |
33 | Financial and Non-financial undertakings | 14,164,482 | ||||||
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure | 14,158,291 | ||||||
35 | Loans and advances | 14,051,822 | ||||||
36 | of which loans collateralised by commercial immovable property | 3,496,441 | ||||||
37 | of which building renovation loans | - | ||||||
38 | Debt securities | 16.919 | ||||||
39 | Equity instruments | 89.551 | ||||||
40 | Non-EU country counterparties not subject to NFRD disclosure | 6.19 | ||||||
41 | Loans and advances | 6.19 | ||||||
42 | Debt securities | - | ||||||
43 | Equity instruments | - | ||||||
44 | Derivatives | - | ||||||
45 | On demand interbank loans | 209.937 | ||||||
46 | Cash and cash-related assets | 2,522,178 | ||||||
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 2,303,459 |
48 | Total GAR assets | 55,263,690 | 16,950,396 | 693.813 | - | 12.629 | 202.122 | |
49 | Assets not covered for GAR calculation | 30,462,975 | ||||||
50 | Central governments and Supranational issuers | 19,096,276 | ||||||
51 | Central banks exposure | 9,256,037 | ||||||
52 | Trading book | 2,110,661 | ||||||
53 | Total assets | 85,726,665 | 16,950,396 | 693.813 | - | 12.629 | 202.122 | |
54 | Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations | |||||||
55 | Financial guarantees | 937.656 | 654 | 432.676 | ||||
56 | Assets under management | - | ||||||
57 | Of which debt securities | |||||||
58 | Of which equity instruments |
Template 2.GAR sector information | ||||||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code | ||||||
KRON | Of which environmentally sustainable (CCM) | KRON | Of which environmentally sustainable (CCM) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
2 | 06.10-Extraction of crude petroleum | 105.18 | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and containers of paper and paperboard | - | - | |||
8 | 20.13-Manufacture of other inorganic basic chemicals | 2,171.50 | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
10 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
11 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | 4,341.70 | 1,310.70 | |||
12 | 22.19-Manufacture of other rubber products | - | - | |||
13 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
14 | 23.51-Manufacture of cement | 4,438.79 | 537.43 | |||
15 | 24.42-Primary aluminium production | - | - | |||
16 | 27.31-Manufacture of fibre optic cables | 513.24 | 227.75 | |||
17 | 27.51-Manufacture of electric domestic appliances | - | - | |||
18 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | 67.10 | - | |||
19 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
20 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | 3,049.24 | 327.37 | |||
agricultural tractors | ||||||
21 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | 922.13 | 99.00 | |||
22 | 30.20-Manufacture of railway locomotives and rolling | 1,216.02 | 729.61 | |||
23 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
24 | 33.12-Repair and maintenance of machinery | - | - | |||
25 | 35.11-Production of electricity | 237,659.54 | - | |||
26 | 35.13-Distribution of electricity | 75,619.66 | 34,705.48 | |||
27 | 35.14-Trade of electricity | 55,537.27 | - | |||
28 | 35.22-Distribution of gaseous fuels through mains | 21,805.75 | 14,537.17 | |||
29 | 35.23-Trade of gaseous fuels through mains | 2,505.35 | 1,670.23 | |||
30 | 35.30-Steam, hot water and air conditioning manufacturing supply | - | - | |||
31 | 36.00-Water collection, treatment and supply | 32,005.22 | 32,005.22 | |||
32 | 38.11-Collection of non-hazardous waste | - | - | |||
33 | 41.20-Building works related to erection of residential and non- residential | - | - | |||
buildings | ||||||
34 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
35 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
36 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | 49.73 | 9.95 | |||
37 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
38 | 47.73-Dispensing chemist in specialised stores | - | - | |||
39 | 49.10-Passenger rail transport, interurban | - | - | |||
40 | 49.31-Urban and suburban passenger land transport | - | - | |||
41 | 49.50-Transport via pipeline of fuelgases | - | - | |||
42 | 51.10-Passenger air transport | - | - | |||
43 | 52.21-Service activities incidental to land transportation | - | - | |||
44 | 52.22-Service activities incidental to sea transportation | - | - | |||
45 | 52.23-Service activities incidental to air transportation | - | - | |||
46 | 52.29-Sea transportation agencies activities | - | - | |||
47 | 53.10-Postal activities under universal service obligation operator) | - | - | |||
48 | 55.10-Hotels and similar accommodation | - | - | |||
49 | 56.10-Restaurants and other eating places | - | - | |||
50 | 61.10-Wired telecommunications activities | 671.76 | - | |||
51 | 61.20-Wireless telecommunications activities, excluding telecommunications activities | 255.81 | 28.42 | |||
52 | 62.01-Computer programming activities | 4.33 | - | |||
53 | 64.99-Other financial service activities, except insurance pension funding not elsewhere classified | 150.94 | - | |||
54 | 65.12-Other personal and property insurance | - | - | |||
55 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
56 | 66.22-Activities of insurance agents and brokers | 26.17 | - | |||
57 | 68.32-Management of real estate on a fee or contract | - | - | |||
58 | 71.20-Food quality testing and analysis | - | - | |||
59 | 72.19-Other research and experimental development on sciences and engineering | - | - | |||
60 | 74.90-Other professional, scientific and technical activities elsewhere classified | - | - | |||
61 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
62 | 86.22-Specialist medical practice activities | - | - | |||
63 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmental ly sustainable (CCA) | KRON | Of which environmental ly sustainable (CCA) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and containers of paper and paperboard | - | - | |||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
10 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
11 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
12 | 22.19-Manufacture of other rubber products | - | - | |||
13 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
14 | 23.51-Manufacture of cement | - | - | |||
15 | 24.42-Primary aluminium production | - | - | |||
16 | 27.31-Manufacture of fibre optic cables | - | - | |||
17 | 27.51-Manufacture of electric domestic appliances | - | - | |||
18 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | - | - | |||
19 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
20 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
21 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
22 | 30.20-Manufacture of railway locomotives and rolling | - | - | |||
23 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
24 | 33.12-Repair and maintenance of machinery | - | - | |||
25 | 35.11-Production of electricity | - | - | |||
26 | 35.13-Distribution of electricity | - | - | |||
27 | 35.14-Trade of electricity | - | - | |||
28 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
29 | 35.23-Trade of gaseous fuels through mains | - | - | |||
30 | 35.30-Steam, hot water and air conditioning manufacturing supply | - | - | |||
31 | 36.00-Water collection, treatment and supply | - | - | |||
32 | 38.11-Collection of non-hazardous waste | - | - | |||
33 | 41.20-Building works related to erection of residential and non- residential buildings | - | - | |||
34 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
35 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
36 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | - | - | |||
37 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
38 | 47.73-Dispensing chemist in specialised stores | - | - | |||
39 | 49.10-Passenger rail transport, interurban | - | - | |||
40 | 49.31-Urban and suburban passenger land transport | - | - | |||
41 | 49.50-Transport via pipeline of fuelgases | - | - | |||
42 | 51.10-Passenger air transport | - | - | |||
43 | 52.21-Service activities incidental to land transportation | - | - | |||
44 | 52.22-Service activities incidental to sea transportation | - | - | |||
45 | 52.23-Service activities incidental to air transportation | - | - | |||
46 | 52.29-Sea transportation agencies activities | - | - |
47 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
48 | 55.10-Hotels and similar accommodation | - | - | |||
49 | 56.10-Restaurants and other eating places | - | - | |||
50 | 61.10-Wired telecommunications activities | - | - | |||
51 | 61.20-Wireless telecommunications activities, excluding telecommunications activities | - | - | |||
52 | 62.01-Computer programming activities | - | - | |||
53 | 64.99-Other financial service activities, except insurance pension funding not elsewhere classified | - | - | |||
54 | 65.12-Other personal and property insurance | - | - | |||
55 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
56 | 66.22-Activities of insurance agents and brokers | - | - | |||
57 | 68.32-Management of real estate on a fee or contract | - | - | |||
58 | 71.20-Food quality testing and analysis | - | - | |||
59 | 72.19-Other research and experimental development on sciences and engineering | - | - | |||
60 | 74.90-Other professional, scientific and technical activities elsewhere classified | - | - | |||
61 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
62 | 86.22-Specialist medical practice activities | - | - | |||
63 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Water and marine resources (WTR) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmentally sustainable (WTR) | KRON | Of which environmentally sustainable (WTR) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and containers of paper and paperboard | - | - | |||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
10 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
11 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
12 | 22.19-Manufacture of other rubber products | - | - | |||
13 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
14 | 23.51-Manufacture of cement | - | - | |||
15 | 24.42-Primary aluminium production | - | - | |||
16 | 27.31-Manufacture of fibre optic cables | - | - | |||
17 | 27.51-Manufacture of electric domestic appliances | - | - | |||
18 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | - | - | |||
19 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
20 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
21 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
22 | 30.20-Manufacture of railway locomotives and rolling | - | - | |||
23 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
24 | 33.12-Repair and maintenance of machinery | - | - | |||
25 | 35.11-Production of electricity | - | - | |||
26 | 35.13-Distribution of electricity | - | - | |||
27 | 35.14-Trade of electricity | - | - | |||
28 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
29 | 35.23-Trade of gaseous fuels through mains | - | - | |||
30 | 35.30-Steam, hot water and air conditioning manufacturing supply | - | - | |||
31 | 36.00-Water collection, treatment and supply | - | - | |||
32 | 38.11-Collection of non-hazardous waste | - | - | |||
33 | 41.20-Building works related to erection of residential and non- residential | - | - | |||
buildings | ||||||
34 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
35 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
36 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | - | - | |||
37 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
38 | 47.73-Dispensing chemist in specialised stores | - | - | |||
39 | 49.10-Passenger rail transport, interurban | - | - | |||
40 | 49.31-Urban and suburban passenger land transport | - | - | |||
41 | 49.50-Transport via pipeline of fuelgases | - | - | |||
42 | 51.10-Passenger air transport | - | - | |||
43 | 52.21-Service activities incidental to land transportation | - | - | |||
44 | 52.22-Service activities incidental to sea transportation | - | - | |||
45 | 52.23-Service activities incidental to air transportation | - | - | |||
46 | 52.29-Sea transportation agencies activities | - | - | |||
47 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
48 | 55.10-Hotels and similar accommodation | - | - | |||
49 | 56.10-Restaurants and other eating places | - | - | |||
50 | 61.10-Wired telecommunications activities | - | - | |||
51 | 61.20-Wireless telecommunications activities, excluding telecommunications activities | - | - | |||
52 | 62.01-Computer programming activities | - | - | |||
53 | 64.99-Other financial service activities, except insurance pension funding not elsewhere classified | - | - | |||
54 | 65.12-Other personal and property insurance | - | - | |||
55 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
56 | 66.22-Activities of insurance agents and brokers | - | - | |||
57 | 68.32-Management of real estate on a fee or contract | - | - | |||
58 | 71.20-Food quality testing and analysis | - | - |
59 | 72.19-Other research and experimental development on sciences and engineering | - | - | |||
60 | 74.90-Other professional, scientific and technical activities elsewhere classified | - | - | |||
61 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
62 | 86.22-Specialist medical practice activities | - | - | |||
63 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Circular economy (CE) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmental ly sustainable (CE) | KRON | Of which environmental ly sustainable (CE) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and containers of paper and paperboard | - | - | |||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
10 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
11 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | 82 | - | |||
12 | 22.19-Manufacture of other rubber products | - | - | |||
13 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
14 | 23.51-Manufacture of cement | - | - | |||
15 | 24.42-Primary aluminium production | - | - | |||
16 | 27.31-Manufacture of fibre optic cables | - | - | |||
17 | 27.51-Manufacture of electric domestic appliances | - | - | |||
18 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | - | - | |||
19 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
20 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | 65 | - | |||
agricultural tractors | ||||||
21 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | 20 | - | |||
22 | 30.20-Manufacture of railway locomotives and rolling | - | - | |||
23 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
24 | 33.12-Repair and maintenance of machinery | - | - | |||
25 | 35.11-Production of electricity | - | - | |||
26 | 35.13-Distribution of electricity | - | - | |||
27 | 35.14-Trade of electricity | - | - | |||
28 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
29 | 35.23-Trade of gaseous fuels through mains | - | - | |||
30 | 35.30-Steam, hot water and air conditioning manufacturing supply | - | - | |||
31 | 36.00-Water collection, treatment and supply | - | - | |||
32 | 38.11-Collection of non-hazardous waste | - | - | |||
33 | 41.20-Building works related to erection of residential and non- residential | - | - | |||
buildings | ||||||
34 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
35 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
36 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
37 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
38 | 47.73-Dispensing chemist in specialised stores | - | - | |||
39 | 49.10-Passenger rail transport, interurban | - | - | |||
40 | 49.31-Urban and suburban passenger land transport | - | - | |||
41 | 49.50-Transport via pipeline of fuelgases | - | - | |||
42 | 51.10-Passenger air transport | - | - | |||
43 | 52.21-Service activities incidental to land transportation | - | - | |||
44 | 52.22-Service activities incidental to sea transportation | - | - | |||
45 | 52.23-Service activities incidental to air transportation | - | - | |||
46 | 52.29-Sea transportation agencies activities | - | - | |||
47 | 53.10-Postal activities under universal service obligation operator) | - | - | |||
48 | 55.10-Hotels and similar accommodation | - | - | |||
49 | 56.10-Restaurants and other eating places | - | - | |||
50 | 61.10-Wired telecommunications activities | - | - | |||
51 | 61.20-Wireless telecommunications activities, excluding | 85 | - | |||
telecommunications activities | ||||||
52 | 62.01-Computer programming activities | - | - | |||
53 | 64.99-Other financial service activities, except insurance pension funding not elsewhere classified | - | - | |||
54 | 65.12-Other personal and property insurance | - | - | |||
55 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
56 | 66.22-Activities of insurance agents and brokers | - | - | |||
57 | 68.32-Management of real estate on a fee or contract | - | - | |||
58 | 71.20-Food quality testing and analysis | - | - | |||
59 | 72.19-Other research and experimental development on sciences and engineering | - | - | |||
60 | 74.90-Other professional, scientific and technical activities elsewhere classified | - | - | |||
61 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
62 | 86.22-Specialist medical practice activities | - | - | |||
63 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Pollution (PPC) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmental ly sustainable (PPC) | KRON | Of which environmental ly sustainable (PPC) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and containers of paper and paperboard | - | - | |||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
10 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
11 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
12 | 22.19-Manufacture of other rubber products | - | - | |||
13 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
14 | 23.51-Manufacture of cement | - | - | |||
15 | 24.42-Primary aluminium production | - | - | |||
16 | 27.31-Manufacture of fibre optic cables | - | - | |||
17 | 27.51-Manufacture of electric domestic appliances | - | - | |||
18 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | - | - | |||
19 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
20 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
21 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
22 | 30.20-Manufacture of railway locomotives and rolling | - | - | |||
23 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
24 | 33.12-Repair and maintenance of machinery | - | - | |||
25 | 35.11-Production of electricity | - | - | |||
26 | 35.13-Distribution of electricity | - | - | |||
27 | 35.14-Trade of electricity | - | - | |||
28 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
29 | 35.23-Trade of gaseous fuels through mains | - | - | |||
30 | 35.30-Steam, hot water and air conditioning manufacturing supply | - | - | |||
31 | 36.00-Water collection, treatment and supply | - | - | |||
32 | 38.11-Collection of non-hazardous waste | - | - | |||
33 | 41.20-Building works related to erection of residential and non- residential | - | - | |||
buildings | ||||||
34 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
35 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
36 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
37 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - |
38 | 47.73-Dispensing chemist in specialised stores | - | - | |||
39 | 49.10-Passenger rail transport, interurban | - | - | |||
40 | 49.31-Urban and suburban passenger land transport | - | - | |||
41 | 49.50-Transport via pipeline of fuelgases | - | - | |||
42 | 51.10-Passenger air transport | - | - | |||
43 | 52.21-Service activities incidental to land transportation | - | - | |||
44 | 52.22-Service activities incidental to sea transportation | - | - | |||
45 | 52.23-Service activities incidental to air transportation | - | - | |||
46 | 52.29-Sea transportation agencies activities | - | - | |||
47 | 53.10-Postal activities under universal service obligation operator) | - | - | |||
48 | 55.10-Hotels and similar accommodation | - | - | |||
49 | 56.10-Restaurants and other eating places | - | - | |||
50 | 61.10-Wired telecommunications activities | - | - | |||
51 | 61.20-Wireless telecommunications activities, excluding | - | - | |||
telecommunications activities | ||||||
52 | 62.01-Computer programming activities | - | - | |||
53 | 64.99-Other financial service activities, except insurance pension funding not elsewhere classified | - | - | |||
54 | 65.12-Other personal and property insurance | - | - | |||
55 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
56 | 66.22-Activities of insurance agents and brokers | - | - | |||
57 | 68.32-Management of real estate on a fee or contract | - | - | |||
58 | 71.20-Food quality testing and analysis | - | - | |||
59 | 72.19-Other research and experimental development on sciences and engineering | - | - | |||
60 | 74.90-Other professional, scientific and technical activities elsewhere classified | - | - | |||
61 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
62 | 86.22-Specialist medical practice activities | - | - | |||
63 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmental ly sustainable (BIO) | KRON | Of which environmental ly sustainable (BIO) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and containers of paper and paperboard | - | - | |||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
10 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
11 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
12 | 22.19-Manufacture of other rubber products | - | - | |||
13 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
14 | 23.51-Manufacture of cement | - | - | |||
15 | 24.42-Primary aluminium production | - | - | |||
16 | 27.31-Manufacture of fibre optic cables | - | - | |||
17 | 27.51-Manufacture of electric domestic appliances | - | - | |||
18 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | - | - | |||
19 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
20 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
21 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
22 | 30.20-Manufacture of railway locomotives and rolling | - | - | |||
23 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
24 | 33.12-Repair and maintenance of machinery | - | - | |||
25 | 35.11-Production of electricity | - | - | |||
26 | 35.13-Distribution of electricity | - | - | |||
27 | 35.14-Trade of electricity | - | - | |||
28 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
29 | 35.23-Trade of gaseous fuels through mains | - | - | |||
30 | 35.30-Steam, hot water and air conditioning manufacturing supply | - | - | |||
31 | 36.00-Water collection, treatment and supply | - | - | |||
32 | 38.11-Collection of non-hazardous waste | - | - | |||
33 | 41.20-Building works related to erection of residential and non- residential | - | - | |||
buildings | ||||||
34 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
35 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
36 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
37 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
38 | 47.73-Dispensing chemist in specialised stores | - | - | |||
39 | 49.10-Passenger rail transport, interurban | - | - | |||
40 | 49.31-Urban and suburban passenger land transport | - | - | |||
41 | 49.50-Transport via pipeline of fuelgases | - | - | |||
42 | 51.10-Passenger air transport | - | - | |||
43 | 52.21-Service activities incidental to land transportation | - | - | |||
44 | 52.22-Service activities incidental to sea transportation | - | - | |||
45 | 52.23-Service activities incidental to air transportation | - | - | |||
46 | 52.29-Sea transportation agencies activities | - | - | |||
47 | 53.10-Postal activities under universal service obligation operator) | - | - |
48 | 55.10-Hotels and similar accommodation | - | - | |||
49 | 56.10-Restaurants and other eating places | - | - | |||
50 | 61.10-Wired telecommunications activities | - | - | |||
51 | 61.20-Wireless telecommunications activities, excluding | - | - | |||
telecommunications activities | ||||||
52 | 62.01-Computer programming activities | - | - | |||
53 | 64.99-Other financial service activities, except insurance pension funding not elsewhere classified | - | - | |||
54 | 65.12-Other personal and property insurance | - | - | |||
55 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
56 | 66.22-Activities of insurance agents and brokers | - | - | |||
57 | 68.32-Management of real estate on a fee or contract | - | - | |||
58 | 71.20-Food quality testing and analysis | - | - | |||
59 | 72.19-Other research and experimental development on sciences and engineering | - | - | |||
60 | 74.90-Other professional, scientific and technical activities elsewhere classified | - | - | |||
61 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
62 | 86.22-Specialist medical practice activities | - | - | |||
63 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | ||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
2 | 06.10-Extraction of crude petroleum | 105 | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and containers of paper and paperboard | - | - | |||
8 | 20.13-Manufacture of other inorganic basic chemicals | 2.172 | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
10 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
11 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | 4.424 | 1.311 | |||
12 | 22.19-Manufacture of other rubber products | - | - | |||
13 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
14 | 23.51-Manufacture of cement | 4.439 | 537 | |||
15 | 24.42-Primary aluminium production | - | - | |||
16 | 27.31-Manufacture of fibre optic cables | 513 | 228 | |||
17 | 27.51-Manufacture of electric domestic appliances | - | - | |||
18 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | 67 | - | |||
19 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
20 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | 3.115 | 327 | |||
agricultural tractors | ||||||
21 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | 942 | 99 | |||
22 | 30.20-Manufacture of railway locomotives and rolling | 1.216 | 730 | |||
23 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
24 | 33.12-Repair and maintenance of machinery | - | - | |||
25 | 35.11-Production of electricity | 237.66 | - | |||
26 | 35.13-Distribution of electricity | 75.62 | 34.705 | |||
27 | 35.14-Trade of electricity | 55.537 | - | |||
28 | 35.22-Distribution of gaseous fuels through mains | 21.806 | 14.537 | |||
29 | 35.23-Trade of gaseous fuels through mains | 2.505 | 1.67 | |||
30 | 35.30-Steam, hot water and air conditioning manufacturing supply | - | - | |||
31 | 36.00-Water collection, treatment and supply | 32.005 | 32.005 | |||
32 | 38.11-Collection of non-hazardous waste | - | - | |||
33 | 41.20-Building works related to erection of residential and non- residential | - | - | |||
buildings | ||||||
34 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
35 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
36 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | 50 | 10 | |||
predominating | ||||||
37 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
38 | 47.73-Dispensing chemist in specialised stores | - | - | |||
39 | 49.10-Passenger rail transport, interurban | - | - | |||
40 | 49.31-Urban and suburban passenger land transport | - | - | |||
41 | 49.50-Transport via pipeline of fuelgases | - | - | |||
42 | 51.10-Passenger air transport | - | - | |||
43 | 52.21-Service activities incidental to land transportation | - | - | |||
44 | 52.22-Service activities incidental to sea transportation | - | - | |||
45 | 52.23-Service activities incidental to air transportation | - | - | |||
46 | 52.29-Sea transportation agencies activities | - | - | |||
47 | 53.10-Postal activities under universal service obligation operator) | - | - | |||
48 | 55.10-Hotels and similar accommodation | - | - | |||
49 | 56.10-Restaurants and other eating places | - | - | |||
50 | 61.10-Wired telecommunications activities | 672 | - | |||
51 | 61.20-Wireless telecommunications activities, excluding | 341 | 28 | |||
telecommunications activities | ||||||
52 | 62.01-Computer programming activities | 4 | - | |||
53 | 64.99-Other financial service activities, except insurance pension funding not elsewhere classified | 151 | - | |||
54 | 65.12-Other personal and property insurance | - | - | |||
55 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
56 | 66.22-Activities of insurance agents and brokers | 26 | - | |||
57 | 68.32-Management of real estate on a fee or contract | - | - | |||
58 | 71.20-Food quality testing and analysis | - | - |
59 | 72.19-Other research and experimental development on sciences and engineering | - | - | |||
60 | 74.90-Other professional, scientific and technical activities elsewhere classified | - | - | |||
61 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
62 | 86.22-Specialist medical practice activities | - | - | |||
63 | 92.00-Gambling and betting activities | - | - | |||
Te mp late 2.G AR sec tor inf or ma tio n (Tu rno ver ) – Fin anc ial yea r en d 31 De ce mb er 202 3 (as res tat ed) | ||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM) | Of which environmentally sustainable (CCM) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of | - | - | |||
forestry products | ||||||
2 | 06.10-Extraction of crude petroleum | 249 | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production mineral waters and other | - | - | |||
bottled waters | ||||||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; | - | - | |||
manufacture of saddlery | ||||||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres retreading and rebuilding of | 439 | 133 | |||
rubber tyres | ||||||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat | - | - | |||
23 | 23.51-Manufacture of cement | 4.451 | 539 | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | 272 | 121 | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) | 2.81 | 302 | |||
and for agricultural tractors | ||||||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles | 384 | 41 | |||
excluding motorcycles | ||||||
36 | 30.20-Manufacture of railway locomotives and rolling stock | 1.898 | 1.139 | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | 319.775 | - | |||
42 | 35.13-Distribution of electricity | 71.507 | 8.702 | |||
43 | 35.14-Trade of electricity | 57.303 | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | 21.642 | 14.428 | |||
45 | 35.23-Trade of gaseous fuels through mains | 975 | 650 | |||
46 | 36.00-Water collection, treatment and supply | 50.966 | 50.966 | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
50 | 42.11-Works related to construction motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity | - | - | |||
lines |
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM) | Of which environmentally sustainable (CCM) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding | - | - | |||
motorcycles | ||||||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and | - | - | |||
supplies | ||||||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised food, beverages or tobacco | 45 | 9 | |||
predominating | ||||||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | 193 | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite | 1.008 | 112 | |||
telecommunications activities | ||||||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of | - | - | |||
businesses | ||||||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCA) | Of which environmentally sustainable (CCA) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of | - | - | |||
forestry products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production mineral waters and other | - | - | |||
bottled waters | ||||||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; | - | - | |||
manufacture of saddlery | ||||||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres retreading and rebuilding of | - | - | |||
rubber tyres | ||||||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) | - | - | |||
and for agricultural tractors | ||||||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles | - | - | |||
excluding motorcycles | ||||||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - |
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
50 | 42.11-Works related to construction motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity | - | - | |||
lines | ||||||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCA) | Of which environmentally sustainable (CCA) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding | - | - | |||
motorcycles | ||||||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and | - | - | |||
supplies | ||||||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised food, beverages or tobacco | - | - | |||
predominating | ||||||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite | - | - | |||
telecommunications activities | ||||||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of | - | - | |||
businesses | ||||||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Water and marine resources (WTR) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (WTR) | Of which environmentally sustainable (WTR) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of | - | - | |||
forestry products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production mineral waters and other | - | - | |||
bottled waters | ||||||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; | - | - | |||
manufacture of saddlery | ||||||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres retreading and rebuilding of | - | - | |||
rubber tyres | ||||||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - |
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) | - | - | |||
and for agricultural tractors | ||||||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles | - | - | |||
excluding motorcycles | ||||||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
50 | 42.11-Works related to construction motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity | - | - | |||
lines | ||||||
Financial year end 31 December 2023 | Water and marine resources (WTR) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (WTR) | Of which environmentally sustainable (WTR) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding | - | - | |||
motorcycles | ||||||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and | - | - | |||
supplies | ||||||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised food, beverages or tobacco | - | - | |||
predominating | ||||||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite | - | - | |||
telecommunications activities | ||||||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of | - | - | |||
businesses | ||||||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Circular economy (CE) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentall y sustainable (CE) | Of which environmentall y sustainable (CE) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of | - | - | |||
forestry products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production mineral waters and other | - | - | |||
bottled waters | ||||||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; | - | - | |||
manufacture of saddlery | ||||||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres retreading and rebuilding of | 8 | - | |||
rubber tyres | ||||||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) | 60 | - | |||
and for agricultural tractors | ||||||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles | 8 | - | |||
excluding motorcycles | ||||||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
50 | 42.11-Works related to construction motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity | - | - | |||
lines | ||||||
Financial year end 31 December 2023 | Circular economy (CE) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentall y sustainable (CE) | Of which environmentall y sustainable (CE) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding | - | - | |||
motorcycles | ||||||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and | - | - | |||
supplies | ||||||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised food, beverages or tobacco | - | - | |||
predominating | ||||||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite | 336 | - | |||
telecommunications activities | ||||||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of | - | - | |||
businesses | ||||||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Pollution (PPC) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (PPC) | Of which environmentally sustainable (PPC) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of | - | - | |||
forestry products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production mineral waters and other | - | - | |||
bottled waters | ||||||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; | - | - | |||
manufacture of saddlery | ||||||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres retreading and rebuilding of | - | - | |||
rubber tyres | ||||||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) | - | - | |||
and for agricultural tractors | ||||||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles | - | - | |||
excluding motorcycles | ||||||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - |
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
50 | 42.11-Works related to construction motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity | - | - | |||
lines | ||||||
Financial year end 31 December 2023 | Pollution (PPC) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (PPC) | Of which environmentally sustainable (PPC) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding | - | - | |||
motorcycles | ||||||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59
46.21-Wholesale of grain, unmanufactured
tobacco, seeds and animal feeds
-
-
60
46.34-Wholesale of alcoholic beverages
-
-
61
46.39-Non-specialised wholesale of food,
beverages and tobacco
-
-
62
46.46-Wholesale of pharmaceutical goods
-
-
63
46.73-Wholesale of wood, construction materials
and sanitary equipment
-
-
64
46.74-Wholesale of hardware and plumbing and
heating equipment and
-
-
supplies
65
46.90-Non-specialised wholesale trade
-
-
66
47.11-Retail sale in non-specialised stores with
food, beverages or tobacco
-
-
predominating
67
47.30-Retail sale of fuel for motor vehicles in fuel
stations
-
-
68
47.52-Retail sale of hardware, paints and glass in
specialised stores
-
-
69
47.54-Retail sale of electrical household
appliances in specialised stores
-
-
70
47.71-Retail sale of clothing in specialised stores
-
-
71
47.73-Dispensing chemist in specialised stores
-
-
72
-
-
47.77-Retail sale of watches, clocks and jewellery
in specialised stores
73
47.78-Other retail sale of new goods in
specialised stores
-
-
74
49.10-Passenger rail transport, interurban
-
-
75
49.20-Freight rail transport
-
-
76
49.31-Urban and suburban passenger land
transport
-
-
77
49.41-Freight transport by road
-
-
78
49.50-Transport via pipeline of fuelgases
-
-
79
51.10-Passenger air transport
-
-
80
52.21-Service activities incidental to land
transportation
-
-
81
-
-
52.22-Service activities incidental to sea
transportation
82
52.29-Sea transportation agencies activities
-
-
83
53.20-Other postal and courier activities
-
-
84
56.10-Restaurants and other eating places
-
-
85
56.29-Other food service activities
-
-
86
60.20-Public and licence television programmes
broadcasting
-
-
87
61.10-Wired telecommunications activities
-
-
88
61.20-Wireless telecommunications activities,
excluding satellite
-
-
telecommunications activities
89
62.01-Computer programming activities
-
-
90 | 63.11-Data processing, activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of | - | - | |||
businesses | ||||||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentall y sustainable (BIO) | Of which environmentall y sustainable (BIO) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of | - | - | |||
forestry products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production mineral waters and other | - | - | |||
bottled waters | ||||||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; | - | - | |||
manufacture of saddlery | ||||||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres retreading and rebuilding of | - | - | |||
rubber tyres | ||||||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) | - | - |
and for agricultural tractors | ||||||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles | - | - | |||
excluding motorcycles | ||||||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
50 | 42.11-Works related to construction motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity | - | - | |||
lines | ||||||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentall y sustainable (BIO) | Of which environmentall y sustainable (BIO) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding | - | - | |||
motorcycles | ||||||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and | - | - | |||
supplies | ||||||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised food, beverages or tobacco | - | - | |||
predominating | ||||||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite | - | - | |||
telecommunications activities | ||||||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of | - | - | |||
businesses | ||||||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM + CCA | Of which environmentally sustainable (CCM + CCA | |||||
+ WTR + CE + PPC + BIO) | + WTR + CE + PPC + BIO) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of | - | - | |||
forestry products | ||||||
2 | 06.10-Extraction of crude petroleum | 249 | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production mineral waters and other | - | - | |||
bottled waters | ||||||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; | - | - | |||
manufacture of saddlery | ||||||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres retreading and rebuilding of | 448 | 133 | |||
rubber tyres | ||||||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat | - | - | |||
23 | 23.51-Manufacture of cement | 4.451 | 539 | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | 272 | 121 | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) | 2.871 | 302 | |||
and for agricultural tractors | ||||||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles | 392 | 41 | |||
excluding motorcycles | ||||||
36 | 30.20-Manufacture of railway locomotives and rolling stock | 1.898 | 1.139 | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | 319.775 | - | |||
42 | 35.13-Distribution of electricity | 71.507 | 8.702 | |||
43 | 35.14-Trade of electricity | 57.303 | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | 21.642 | 14.428 | |||
45 | 35.23-Trade of gaseous fuels through mains | 975 | 650 | |||
46 | 36.00-Water collection, treatment and supply | 50.966 | 50.966 | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
50 | 42.11-Works related to construction motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity | - | - | |||
lines | ||||||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level (code and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM + CCA | Of which environmentally sustainable (CCM + CCA | |||||
+ WTR + CE + PPC + BIO) | + WTR + CE + PPC + BIO) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding | - | - | |||
motorcycles | ||||||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and | - | - | |||
supplies | ||||||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised food, beverages or tobacco | 45 | 9 | |||
predominating | ||||||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | 193 | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite | 1.345 | 112 | |||
telecommunications activities | ||||||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of | - | - | |||
businesses | ||||||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Template 2.GAR sector information | ||||||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmentally sustainable (CCM) | KRON | Of which environmentally sustainable (CCM) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry products | - | - | |||
2 | 06.10-Extraction of crude petroleum | 301 | 22 | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
8 | 20.13-Manufacture of other inorganic basic chemicals | 2.172 | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | 229 | 229 | |||
1 0 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
1 1 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | 4.833 | 1.802 | |||
1 2 | 22.19-Manufacture of other rubber products | - | - | |||
1 3 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
1 4 | 23.51-Manufacture of cement | 3.782 | 756 | |||
1 5 | 24.42-Primary aluminium production | - | - | |||
1 6 | 27.31-Manufacture of fibre optic cables | 665 | 507 | |||
1 7 | 27.51-Manufacture of electric domestic appliances | - | - | |||
1 8 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle engines | 67 | - | |||
1 9 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
2 0 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | 3.118 | 702 | |||
agricultural tractors | ||||||
2 1 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | 943 | 212 | |||
2 2 | 30.20-Manufacture of railway locomotives and rolling stock | 1.216 | 693 | |||
2 3 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
2 4 | 33.12-Repair and maintenance of machinery | - | - | |||
2 5 | 35.11-Production of electricity | 298.714 | - | |||
2 6 | 35.13-Distribution of electricity | 189.26 | 35.672 | |||
2 7 | 35.14-Trade of electricity | 208.482 | - | |||
2 8 | 35.22-Distribution of gaseous fuels through mains | 348.892 | 348.892 | |||
2 9 | 35.23-Trade of gaseous fuels through mains | 40.086 | 40.086 | |||
3 0 | 35.30-Steam, hot water and air conditioning manufacturing and supply | - | - | |||
3 1 | 36.00-Water collection, treatment and supply | 32.005 | 32.005 | |||
3 2 | 38.11-Collection of non-hazardous waste | - | - | |||
3 3 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
3 4 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
3 5 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
3 6 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | 18.766 | 1.79 | |||
predominating | ||||||
3 7 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
3 8 | 47.73-Dispensing chemist in specialised stores | - | - | |||
3 9 | 49.10-Passenger rail transport, interurban | - | - | |||
4 0 | 49.31-Urban and suburban passenger land transport | - | - | |||
4 1 | 49.50-Transport via pipeline of fuelgases | 199.984 | 198.044 | |||
4 2 | 51.10-Passenger air transport | - | - | |||
4 3 | 52.21-Service activities incidental to land transportation | - | - | |||
4 4 | 52.22-Service activities incidental to sea transportation | - | - | |||
4 5 | 52.23-Service activities incidental to air transportation | - | - | |||
4 6 | 52.29-Sea transportation agencies activities | - | - | |||
4 7 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
4 8 | 55.10-Hotels and similar accommodation | - | - | |||
4 9 | 56.10-Restaurants and other eating places | - | - | |||
5 0 | 61.10-Wired telecommunications activities | - | - | |||
5 1 | 61.20-Wireless telecommunications activities, excluding satellite | 199 | - | |||
telecommunications activities | ||||||
5 2 | 62.01-Computer programming activities | 4 | - | |||
5 3 | 64.99-Other financial service activities, except insurance and pension funding not elsewhere classified | 151 | - | |||
5 4 | 65.12-Other personal and property insurance | - | - | |||
5 5 | 66.19-Other activities auxiliary to financial services, except insurance and pension funding | - | - | |||
5 6 | 66.22-Activities of insurance agents and brokers | 26 | - |
5 7 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
5 8 | 71.20-Food quality testing and analysis | - | - | |||
5 9 | 72.19-Other research and experimental development on natural sciences and engineering | - | - | |||
6 0 | 74.90-Other professional, scientific and technical activities not elsewhere classified | - | - | |||
6 1 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
6 2 | 86.22-Specialist medical practice activities | - | - | |||
6 3 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmentally sustainable (CCA) | KRON | Of which environmentally sustainable (CCA) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
1 0 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
1 1 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber | - | - | |||
tyres | ||||||
1 2 | 22.19-Manufacture of other rubber products | - | - | |||
1 3 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
1 4 | 23.51-Manufacture of cement | - | - | |||
1 5 | 24.42-Primary aluminium production | - | - | |||
1 6 | 27.31-Manufacture of fibre optic cables | - | - | |||
1 7 | 27.51-Manufacture of electric domestic appliances | - | - | |||
1 8 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle | - | - | |||
engines | ||||||
1 9 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
2 0 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
2 1 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding | - | - | |||
motorcycles | ||||||
2 2 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
2 3 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
2 4 | 33.12-Repair and maintenance of machinery | - | - | |||
2 5 | 35.11-Production of electricity | - | - | |||
2 6 | 35.13-Distribution of electricity | - | - | |||
2 7 | 35.14-Trade of electricity | - | - | |||
2 8 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
2 9 | 35.23-Trade of gaseous fuels through mains | - | - | |||
3 0 | 35.30-Steam, hot water and air conditioning manufacturing and supply | - | - | |||
3 1 | 36.00-Water collection, treatment and supply | - | - | |||
3 2 | 38.11-Collection of non-hazardous waste | - | - | |||
3 3 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
3 4 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
3 5 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
3 6 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
3 7 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
3 8 | 47.73-Dispensing chemist in specialised stores | - | - | |||
3 9 | 49.10-Passenger rail transport, interurban | - | - | |||
4 0 | 49.31-Urban and suburban passenger land transport | - | - | |||
4 1 | 49.50-Transport via pipeline of fuelgases | - | - | |||
4 2 | 51.10-Passenger air transport | - | - | |||
4 3 | 52.21-Service activities incidental to land transportation | - | - | |||
4 4 | 52.22-Service activities incidental to sea transportation | - | - | |||
4 5 | 52.23-Service activities incidental to air transportation | - | - | |||
4 6 | 52.29-Sea transportation agencies activities | - | - | |||
4 7 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
4 8 | 55.10-Hotels and similar accommodation | - | - | |||
4 9 | 56.10-Restaurants and other eating places | - | - | |||
5 0 | 61.10-Wired telecommunications activities | 28.662 | - | |||
5 1 | 61.20-Wireless telecommunications activities, excluding satellite | - | - | |||
telecommunications activities | ||||||
5 2 | 62.01-Computer programming activities | - | - | |||
5 3 | 64.99-Other financial service activities, except insurance and pension funding not | - | - | |||
elsewhere classified | ||||||
5 4 | 65.12-Other personal and property insurance | - | - | |||
5 5 | 66.19-Other activities auxiliary to financial services, except insurance and pension | - | - | |||
funding | ||||||
5 6 | 66.22-Activities of insurance agents and brokers | - | - | |||
5 7 | 68.32-Management of real estate on a fee or contract basis | - | - |
5 8 | 71.20-Food quality testing and analysis | - | - | |||
5 9 | 72.19-Other research and experimental development on natural sciences and | - | - | |||
engineering | ||||||
6 0 | 74.90-Other professional, scientific and technical activities not elsewhere classified | - | - | |||
6 1 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
6 2 | 86.22-Specialist medical practice activities | - | - | |||
6 3 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Water and marine resources (WTR) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmentally sustainable (WTR) | KRON | Of which environmentally sustainable (WTR) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
1 0 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
1 1 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber | - | - | |||
tyres | ||||||
1 2 | 22.19-Manufacture of other rubber products | - | - | |||
1 3 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
1 4 | 23.51-Manufacture of cement | - | - | |||
1 5 | 24.42-Primary aluminium production | - | - | |||
1 6 | 27.31-Manufacture of fibre optic cables | - | - | |||
1 7 | 27.51-Manufacture of electric domestic appliances | - | - | |||
1 8 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle | - | - | |||
engines | ||||||
1 9 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
2 0 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
2 1 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding | - | - | |||
motorcycles | ||||||
2 2 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
2 3 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
2 4 | 33.12-Repair and maintenance of machinery | - | - | |||
2 5 | 35.11-Production of electricity | - | - | |||
2 6 | 35.13-Distribution of electricity | - | - | |||
2 7 | 35.14-Trade of electricity | - | - | |||
2 8 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
2 9 | 35.23-Trade of gaseous fuels through mains | - | - | |||
3 0 | 35.30-Steam, hot water and air conditioning manufacturing and supply | - | - | |||
3 1 | 36.00-Water collection, treatment and supply | - | - | |||
3 2 | 38.11-Collection of non-hazardous waste | - | - | |||
3 3 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
3 4 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
3 5 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
3 6 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
3 7 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
3 8 | 47.73-Dispensing chemist in specialised stores | - | - | |||
3 9 | 49.10-Passenger rail transport, interurban | - | - | |||
4 0 | 49.31-Urban and suburban passenger land transport | - | - | |||
4 1 | 49.50-Transport via pipeline of fuelgases | - | - | |||
4 2 | 51.10-Passenger air transport | - | - | |||
4 3 | 52.21-Service activities incidental to land transportation | - | - | |||
4 4 | 52.22-Service activities incidental to sea transportation | - | - | |||
4 5 | 52.23-Service activities incidental to air transportation | - | - | |||
4 6 | 52.29-Sea transportation agencies activities | - | - | |||
4 7 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
4 8 | 55.10-Hotels and similar accommodation | - | - | |||
4 9 | 56.10-Restaurants and other eating places | - | - | |||
5 0 | 61.10-Wired telecommunications activities | - | - | |||
5 1 | 61.20-Wireless telecommunications activities, excluding satellite | - | - | |||
telecommunications activities | ||||||
5 2 | 62.01-Computer programming activities | - | - | |||
5 3 | 64.99-Other financial service activities, except insurance and pension funding not | - | - | |||
elsewhere classified | ||||||
5 4 | 65.12-Other personal and property insurance | - | - | |||
5 5 | 66.19-Other activities auxiliary to financial services, except insurance and pension | - | - | |||
funding | ||||||
5 6 | 66.22-Activities of insurance agents and brokers | - | - | |||
5 7 | 68.32-Management of real estate on a fee or contract basis | - | - |
5 8 | 71.20-Food quality testing and analysis | - | - | |||
5 9 | 72.19-Other research and experimental development on natural sciences and | - | - | |||
engineering | ||||||
6 0 | 74.90-Other professional, scientific and technical activities not elsewhere classified | - | - | |||
6 1 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
6 2 | 86.22-Specialist medical practice activities | - | - | |||
6 3 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Circular economy (CE) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmentall y sustainable (CE) | KRON | Of which environmentall y sustainable (CE) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
1 0 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
1 1 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber | 82 | - | |||
tyres | ||||||
1 2 | 22.19-Manufacture of other rubber products | - | - | |||
1 3 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
1 4 | 23.51-Manufacture of cement | - | - | |||
1 5 | 24.42-Primary aluminium production | - | - | |||
1 6 | 27.31-Manufacture of fibre optic cables | - | - | |||
1 7 | 27.51-Manufacture of electric domestic appliances | - | - | |||
1 8 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle | - | - | |||
engines | ||||||
1 9 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
2 0 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
2 1 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding | - | - | |||
motorcycles | ||||||
2 2 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
2 3 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
2 4 | 33.12-Repair and maintenance of machinery | - | - | |||
2 5 | 35.11-Production of electricity | - | - | |||
2 6 | 35.13-Distribution of electricity | - | - | |||
2 7 | 35.14-Trade of electricity | - | - | |||
2 8 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
2 9 | 35.23-Trade of gaseous fuels through mains | - | - | |||
3 0 | 35.30-Steam, hot water and air conditioning manufacturing and supply | - | - | |||
3 1 | 36.00-Water collection, treatment and supply | - | - | |||
3 2 | 38.11-Collection of non-hazardous waste | - | - | |||
3 3 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
3 4 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
3 5 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
3 6 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
3 7 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
3 8 | 47.73-Dispensing chemist in specialised stores | - | - | |||
3 9 | 49.10-Passenger rail transport, interurban | - | - | |||
4 0 | 49.31-Urban and suburban passenger land transport | - | - | |||
4 1 | 49.50-Transport via pipeline of fuelgases | - | - | |||
4 2 | 51.10-Passenger air transport | - | - | |||
4 3 | 52.21-Service activities incidental to land transportation | - | - | |||
4 4 | 52.22-Service activities incidental to sea transportation | - | - | |||
4 5 | 52.23-Service activities incidental to air transportation | - | - | |||
4 6 | 52.29-Sea transportation agencies activities | - | - | |||
4 7 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
4 8 | 55.10-Hotels and similar accommodation | - | - | |||
4 9 | 56.10-Restaurants and other eating places | - | - | |||
5 0 | 61.10-Wired telecommunications activities | 672 | - | |||
5 1 | 61.20-Wireless telecommunications activities, excluding satellite | 99 | - | |||
telecommunications activities | ||||||
5 2 | 62.01-Computer programming activities | - | - | |||
5 3 | 64.99-Other financial service activities, except insurance and pension funding not | - | - | |||
elsewhere classified | ||||||
5 4 | 65.12-Other personal and property insurance | - | - | |||
5 5 | 66.19-Other activities auxiliary to financial services, except insurance and pension | - | - | |||
funding | ||||||
5 6 | 66.22-Activities of insurance agents and brokers | - | - | |||
5 7 | 68.32-Management of real estate on a fee or contract basis | - | - |
5 8 | 71.20-Food quality testing and analysis | - | - | |||
5 9 | 72.19-Other research and experimental development on natural sciences and | - | - | |||
engineering | ||||||
6 0 | 74.90-Other professional, scientific and technical activities not elsewhere classified | - | - | |||
6 1 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
6 2 | 86.22-Specialist medical practice activities | - | - | |||
6 3 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Pollution (PPC) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmentall y sustainable (PPC) | KRON | Of which environmentall y sustainable (PPC) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
1 0 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
1 1 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber | - | - | |||
tyres | ||||||
1 2 | 22.19-Manufacture of other rubber products | - | - | |||
1 3 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
1 4 | 23.51-Manufacture of cement | - | - | |||
1 5 | 24.42-Primary aluminium production | - | - | |||
1 6 | 27.31-Manufacture of fibre optic cables | - | - | |||
1 7 | 27.51-Manufacture of electric domestic appliances | - | - | |||
1 8 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle | - | - | |||
engines | ||||||
1 9 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
2 0 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
2 1 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding | - | - | |||
motorcycles | ||||||
2 2 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
2 3 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
2 4 | 33.12-Repair and maintenance of machinery | - | - | |||
2 5 | 35.11-Production of electricity | - | - | |||
2 6 | 35.13-Distribution of electricity | - | - | |||
2 7 | 35.14-Trade of electricity | - | - | |||
2 8 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
2 9 | 35.23-Trade of gaseous fuels through mains | - | - | |||
3 0 | 35.30-Steam, hot water and air conditioning manufacturing and supply | - | - | |||
3 1 | 36.00-Water collection, treatment and supply | - | - | |||
3 2 | 38.11-Collection of non-hazardous waste | - | - | |||
3 3 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
3 4 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
3 5 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
3 6 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
3 7 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
3 8 | 47.73-Dispensing chemist in specialised stores | - | - | |||
3 9 | 49.10-Passenger rail transport, interurban | - | - | |||
4 0 | 49.31-Urban and suburban passenger land transport | - | - | |||
4 1 | 49.50-Transport via pipeline of fuelgases | - | - | |||
4 2 | 51.10-Passenger air transport | - | - | |||
4 3 | 52.21-Service activities incidental to land transportation | - | - | |||
4 4 | 52.22-Service activities incidental to sea transportation | - | - | |||
4 5 | 52.23-Service activities incidental to air transportation | - | - | |||
4 6 | 52.29-Sea transportation agencies activities | - | - | |||
4 7 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
4 8 | 55.10-Hotels and similar accommodation | - | - | |||
4 9 | 56.10-Restaurants and other eating places | - | - | |||
5 0 | 61.10-Wired telecommunications activities | - | - | |||
5 1 | 61.20-Wireless telecommunications activities, excluding satellite | - | - | |||
telecommunications activities | ||||||
5 2 | 62.01-Computer programming activities | - | - | |||
5 3 | 64.99-Other financial service activities, except insurance and pension funding not | - | - | |||
elsewhere classified | ||||||
5 4 | 65.12-Other personal and property insurance | - | - | |||
5 5 | 66.19-Other activities auxiliary to financial services, except insurance and pension | - | - | |||
funding | ||||||
5 6 | 66.22-Activities of insurance agents and brokers | - | - | |||
5 7 | 68.32-Management of real estate on a fee or contract basis | - | - |
5 8 | 71.20-Food quality testing and analysis | - | - | |||
5 9 | 72.19-Other research and experimental development on natural sciences and | - | - | |||
engineering | ||||||
6 0 | 74.90-Other professional, scientific and technical activities not elsewhere classified | - | - | |||
6 1 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
6 2 | 86.22-Specialist medical practice activities | - | - | |||
6 3 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | ||||||
KRON | Of which environmentall y sustainable (BIO) | KRON | Of which environmentall y sustainable (BIO) | |||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
products | ||||||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
8 | 20.13-Manufacture of other inorganic basic chemicals | - | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | - | - | |||
1 0 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
1 1 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber | - | - | |||
tyres | ||||||
1 2 | 22.19-Manufacture of other rubber products | - | - | |||
1 3 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
1 4 | 23.51-Manufacture of cement | - | - | |||
1 5 | 24.42-Primary aluminium production | - | - | |||
1 6 | 27.31-Manufacture of fibre optic cables | - | - | |||
1 7 | 27.51-Manufacture of electric domestic appliances | - | - | |||
1 8 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle | - | - | |||
engines | ||||||
1 9 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
2 0 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | - | - | |||
agricultural tractors | ||||||
2 1 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding | - | - | |||
motorcycles | ||||||
2 2 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
2 3 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
2 4 | 33.12-Repair and maintenance of machinery | - | - | |||
2 5 | 35.11-Production of electricity | - | - | |||
2 6 | 35.13-Distribution of electricity | - | - | |||
2 7 | 35.14-Trade of electricity | - | - | |||
2 8 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
2 9 | 35.23-Trade of gaseous fuels through mains | - | - | |||
3 0 | 35.30-Steam, hot water and air conditioning manufacturing and supply | - | - | |||
3 1 | 36.00-Water collection, treatment and supply | - | - | |||
3 2 | 38.11-Collection of non-hazardous waste | - | - | |||
3 3 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
3 4 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
3 5 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
3 6 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | - | - | |||
predominating | ||||||
3 7 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
3 8 | 47.73-Dispensing chemist in specialised stores | - | - | |||
3 9 | 49.10-Passenger rail transport, interurban | - | - | |||
4 0 | 49.31-Urban and suburban passenger land transport | - | - | |||
4 1 | 49.50-Transport via pipeline of fuelgases | - | - | |||
4 2 | 51.10-Passenger air transport | - | - | |||
4 3 | 52.21-Service activities incidental to land transportation | - | - | |||
4 4 | 52.22-Service activities incidental to sea transportation | - | - | |||
4 5 | 52.23-Service activities incidental to air transportation | - | - | |||
4 6 | 52.29-Sea transportation agencies activities | - | - | |||
4 7 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
4 8 | 55.10-Hotels and similar accommodation | - | - | |||
4 9 | 56.10-Restaurants and other eating places | - | - | |||
5 0 | 61.10-Wired telecommunications activities | - | - | |||
5 1 | 61.20-Wireless telecommunications activities, excluding satellite | - | - | |||
telecommunications activities | ||||||
5 2 | 62.01-Computer programming activities | - | - | |||
5 3 | 64.99-Other financial service activities, except insurance and pension funding not | - | - | |||
elsewhere classified | ||||||
5 4 | 65.12-Other personal and property insurance | - | - | |||
5 5 | 66.19-Other activities auxiliary to financial services, except insurance and pension | - | - | |||
funding | ||||||
5 6 | 66.22-Activities of insurance agents and brokers | - | - | |||
5 7 | 68.32-Management of real estate on a fee or contract basis | - | - |
5 8 | 71.20-Food quality testing and analysis | - | - | |||
5 9 | 72.19-Other research and experimental development on natural sciences and | - | - | |||
engineering | ||||||
6 0 | 74.90-Other professional, scientific and technical activities not elsewhere classified | - | - | |||
6 1 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
6 2 | 86.22-Specialist medical practice activities | - | - | |||
6 3 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
[Gross] carrying amount | [Gross] carrying amount | |||||
Breakdown by sector - NACE 4 digits level (code and label) | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | ||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestry | - | - | |||
products | ||||||
2 | 06.10-Extraction of crude petroleum | 301 | 22 | |||
3 | 06.20-Extraction of natural gas | - | - | |||
4 | 08.93-Extraction of salt | - | - | |||
5 | 09.10-Support activities for petroleum and natural gas extraction | - | - | |||
6 | 11.05-Manufacture of beer | - | - | |||
7 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
8 | 20.13-Manufacture of other inorganic basic chemicals | 2.172 | - | |||
9 | 21.10-Manufacture of basic pharmaceutical substances | 229 | 229 | |||
1 0 | 21.20-Manufacture of medicines and other pharmaceutical products | - | - | |||
1 1 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber | 4.915 | 1.802 | |||
tyres | ||||||
1 2 | 22.19-Manufacture of other rubber products | - | - | |||
1 3 | 22.21-Manufacture of plastic plates, sheets, tubes and profiles | - | - | |||
1 4 | 23.51-Manufacture of cement | 3.782 | 756 | |||
1 5 | 24.42-Primary aluminium production | - | - | |||
1 6 | 27.31-Manufacture of fibre optic cables | 665 | 507 | |||
1 7 | 27.51-Manufacture of electric domestic appliances | - | - | |||
1 8 | 28.11-Manufacture of engines and turbines, except aircraft, vehicle and cycle | 67 | - | |||
engines | ||||||
1 9 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
2 0 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for | 3.118 | 702 | |||
agricultural tractors | ||||||
2 1 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding | 943 | 212 | |||
motorcycles | ||||||
2 2 | 30.20-Manufacture of railway locomotives and rolling stock | 1.216 | 693 | |||
2 3 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
2 4 | 33.12-Repair and maintenance of machinery | - | - | |||
2 5 | 35.11-Production of electricity | 298.714 | - | |||
2 6 | 35.13-Distribution of electricity | 189.26 | 35.672 | |||
2 7 | 35.14-Trade of electricity | 208.482 | - | |||
2 8 | 35.22-Distribution of gaseous fuels through mains | 348.892 | 348.892 | |||
2 9 | 35.23-Trade of gaseous fuels through mains | 40.086 | 40.086 | |||
3 0 | 35.30-Steam, hot water and air conditioning manufacturing and supply | - | - | |||
3 1 | 36.00-Water collection, treatment and supply | 32.005 | 32.005 | |||
3 2 | 38.11-Collection of non-hazardous waste | - | - | |||
3 3 | 41.20-Building works related to erection of residential and non-residential | - | - | |||
buildings | ||||||
3 4 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
3 5 | 45.32-Retail trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
3 6 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco | 18.766 | 1.79 | |||
predominating | ||||||
3 7 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
3 8 | 47.73-Dispensing chemist in specialised stores | - | - | |||
3 9 | 49.10-Passenger rail transport, interurban | - | - | |||
4 0 | 49.31-Urban and suburban passenger land transport | - | - | |||
4 1 | 49.50-Transport via pipeline of fuelgases | 199.984 | 198.044 | |||
4 2 | 51.10-Passenger air transport | - | - | |||
4 3 | 52.21-Service activities incidental to land transportation | - | - | |||
4 4 | 52.22-Service activities incidental to sea transportation | - | - | |||
4 5 | 52.23-Service activities incidental to air transportation | - | - | |||
4 6 | 52.29-Sea transportation agencies activities | - | - | |||
4 7 | 53.10-Postal activities under universal service obligation (public operator) | - | - | |||
4 8 | 55.10-Hotels and similar accommodation | - | - | |||
4 9 | 56.10-Restaurants and other eating places | - | - | |||
5 0 | 61.10-Wired telecommunications activities | 29.333 | - | |||
5 1 | 61.20-Wireless telecommunications activities, excluding satellite | 298 | - | |||
telecommunications activities | ||||||
5 2 | 62.01-Computer programming activities | 4 | - | |||
5 3 | 64.99-Other financial service activities, except insurance and pension funding not | 151 | - | |||
elsewhere classified | ||||||
5 4 | 65.12-Other personal and property insurance | - | - | |||
5 5 | 66.19-Other activities auxiliary to financial services, except insurance and pension | - | - | |||
funding | ||||||
5 6 | 66.22-Activities of insurance agents and brokers | 26 | - | |||
5 7 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
5 8 | 71.20-Food quality testing and analysis | - | - |
5 9 | 72.19-Other research and experimental development on natural sciences and | - | - | |||
engineering | ||||||
6 0 | 74.90-Other professional, scientific and technical activities not elsewhere classified | - | - | |||
6 1 | 82.99-Other business support service activities not elsewhere classified | - | - | |||
6 2 | 86.22-Specialist medical practice activities | - | - | |||
6 3 | 92.00-Gambling and betting activities | - | - | |||
Te m pl at e 2. G A R se ct or in fo r m ati o n (C A P E X) – Fi na nc ial ye ar en d 31 D ec e m be r 20 23 (a s re st at ed ) | ||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM) | Of which environmentally sustainable (CCM) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestr y products | - | - | |||
2 | 06.10-Extraction of crude petroleum | 713 | 52 | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving of meat, excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production of mineral waters and other bottled waters | - | - | |||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; manufacture of saddlery | - | - | |||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | 489 | 182 | |||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat glass | - | - | |||
23 | 23.51-Manufacture of cement | 3.793 | 759 | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | 353 | 269 | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for agricultural tractors | 2.873 | 647 | |||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | 392 | 88 | |||
36 | 30.20-Manufacture of railway locomotives and rolling stock | 1.898 | 1.082 | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | 401.924 | - | |||
42 | 35.13-Distribution of electricity | 244.706 | 8.945 | |||
43 | 35.14-Trade of electricity | 215.112 | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | 346.279 | 346.279 | |||
45 | 35.23-Trade of gaseous fuels through mains | 15.598 | 15.598 | |||
46 | 36.00-Water collection, treatment and supply | 50.966 | 50.966 | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
50 | 42.11-Works related to construction of roads and motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity lines | - | - | |||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM) | Of which environmentally sustainable (CCM) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and supplies | - | - | |||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | 17.075 | 1.629 | |||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | 199.856 | 197.917 | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite telecommunications activities | 784 | - | |||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, hosting and related activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary employment agency activities | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of businesses | - | - | |||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCA) | Of which environmentally sustainable (CCA) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestr y products | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving of meat, excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production of mineral waters and other bottled waters | - | - | |||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; manufacture of saddlery | - | - | |||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat glass | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for agricultural tractors | - | - | |||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
50 | 42.11-Works related to construction of roads and motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity lines | - | - | |||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCA) | Of which environmentally sustainable (CCA) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and supplies | - | - | |||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | - | - | |||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | 8.227 | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite telecommunications activities | - | - | |||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, hosting and related activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary employment agency activities | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of businesses | - | - | |||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Water and marine resources | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (WTR) | Of which environmentally sustainable (WTR) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestr y products | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving of meat, excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production of mineral waters and other bottled waters | - | - | |||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; manufacture of saddlery | - | - | |||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat glass | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for agricultural tractors | - | - | |||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - |
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
50 | 42.11-Works related to construction of roads and motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity lines | - | - | |||
Financial year end 31 December 2023 | Water and marine resources | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (WTR) | Of which environmentally sustainable (WTR) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and supplies | - | - | |||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | - | - | |||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite telecommunications activities | - | - | |||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, hosting and related activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary employment agency activities | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of businesses | - | - | |||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Circular economy (CE) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CE) | Of which environmentally sustainable (CE) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestr y products | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving of meat, excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production of mineral waters and other bottled waters | - | - | |||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; manufacture of saddlery | - | - | |||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | 8 | - | |||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat glass | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for agricultural tractors | - | - | |||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
50 | 42.11-Works related to construction of roads and motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity lines | - | - | |||
Financial year end 31 December 2023 | Circular economy (CE) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CE) | Of which environmentally sustainable (CE) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and supplies | - | - | |||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | - | - | |||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | 193 | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite telecommunications activities | 392 | - | |||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, hosting and related activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary employment agency activities | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of businesses | - | - | |||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Pollution (PPC) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (PPC) | Of which environmentally sustainable (PPC) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestr y products | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving of meat, excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production of mineral waters and other bottled waters | - | - | |||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; manufacture of saddlery | - | - | |||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat glass | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for agricultural tractors | - | - | |||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
50 | 42.11-Works related to construction of roads and motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity lines | - | - | |||
Financial year end 31 December 2023 | Pollution (PPC) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (PPC) | Of which environmentally sustainable (PPC) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and supplies | - | - | |||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | - | - | |||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite telecommunications activities | - | - | |||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, hosting and related activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary employment agency activities | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of businesses | - | - | |||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (BIO) | Of which environmentally sustainable (BIO) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestr y products | - | - | |||
2 | 06.10-Extraction of crude petroleum | - | - | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving of meat, excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production of mineral waters and other bottled waters | - | - | |||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; manufacture of saddlery | - | - | |||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | - | - | |||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat glass | - | - | |||
23 | 23.51-Manufacture of cement | - | - | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | - | - | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for agricultural tractors | - | - | |||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | - | - | |||
36 | 30.20-Manufacture of railway locomotives and rolling stock | - | - | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | - | - | |||
42 | 35.13-Distribution of electricity | - | - | |||
43 | 35.14-Trade of electricity | - | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | - | - | |||
45 | 35.23-Trade of gaseous fuels through mains | - | - | |||
46 | 36.00-Water collection, treatment and supply | - | - | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
50 | 42.11-Works related to construction of roads and motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity lines | - | - | |||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (BIO) | Of which environmentally sustainable (BIO) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and supplies | - | - | |||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | - | - | |||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | - | - | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | - | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite telecommunications activities | - | - | |||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, hosting and related activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary employment agency activities | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of businesses | - | - | |||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM + CCA | Of which environmentally sustainable (CCM + CCA | |||||
+ WTR + CE + PPC + BIO) | + WTR + CE + PPC + BIO) | |||||
KRON | KRON | |||||
1 | 02.10-Silviculture and other forestry activities, excluding gathering of forestr y products | - | - | |||
2 | 06.10-Extraction of crude petroleum | 713 | 52 | |||
3 | 08.93-Extraction of salt | - | - | |||
4 | 10.11-Processing and preserving of meat, excluding poultry meat | - | - | |||
5 | 10.12-Processing and preserving of poultry meat | - | - | |||
6 | 10.13-Production of meat products, including poultry meat products | - | - | |||
7 | 10.31-Processing and preserving of potatoes | - | - | |||
8 | 10.61-Manufacture of grain mill products | - | - | |||
9 | 10.72-Manufacture of rusks and biscuits; manufacture of preserved pastry | - | - | |||
goods and cakes | ||||||
10 | 11.07-Manufacture of soft drinks; production of mineral waters and other bottled waters | - | - | |||
11 | 13.10-Manufacture of cotton yarn | - | - | |||
12 | 13.96-Manufacture of other technical and industrial textiles | - | - | |||
13 | 14.13-Manufacture of other outerwear | - | - | |||
14 | 15.12-Manufacture of luggage, handbags and similar leather goods; manufacture of saddlery | - | - | |||
15 | 17.12-Manufacture of paper and paperboard | - | - | |||
16 | 17.21-Manufacture of corrugated paper and paperboard and of containers of | - | - | |||
paper and paperboard | ||||||
17 | 20.15-Manufacture of fertilisers and nitrogen compounds | - | - | |||
18 | 20.42-Manufacture of perfumes and toilet preparations | - | - | |||
19 | 22.11-Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres | 497 | 182 | |||
20 | 22.19-Manufacture of other rubber products | - | - | |||
21 | 22.29-Manufacture of other plastic products | - | - | |||
22 | 23.11-Manufacture of flat glass | - | - | |||
23 | 23.51-Manufacture of cement | 3.793 | 759 | |||
24 | 23.61-Manufacture of concrete products for construction purposes | - | - | |||
25 | 23.62-Manufacture of plaster products for construction purposes | - | - | |||
26 | 24.10-Manufacture of pig iron, ferro-alloys, basic iron and steel and | - | - | |||
metallurgic articles | ||||||
27 | 25.93-Manufacture of wire products,chains and springs | - | - | |||
28 | 27.31-Manufacture of fibre optic cables | 353 | 269 | |||
29 | 27.40-Manufacture of electric lighting equipment | - | - | |||
30 | 27.51-Manufacture of electric domestic appliances | - | - | |||
31 | 27.90-Manufacture of other electrical equipment | - | - | |||
32 | 28.15-Manufacture of bearings, gears, gearing and driving elements | - | - | |||
33 | 28.41-Manufacture of metal forming machinery | - | - | |||
34 | 29.10-Manufacture of engines for motor vehicles (excluding motorcycles) and for agricultural tractors | 2.873 | 647 | |||
35 | 29.32-Manufacture of other parts and accessories for motor vehicles excluding motorcycles | 392 | 88 | |||
36 | 30.20-Manufacture of railway locomotives and rolling stock | 1.898 | 1.082 | |||
37 | 30.30-Manufacture of air and spacecraft and related machinery | - | - | |||
38 | 31.09-Manufacture of other furniture | - | - | |||
39 | 32.30-Manufacture of sports goods | - | - | |||
40 | 33.12-Repair and maintenance of machinery | - | - | |||
41 | 35.11-Production of electricity | 401.924 | - | |||
42 | 35.13-Distribution of electricity | 244.706 | 8.945 |
43 | 35.14-Trade of electricity | 215.112 | - | |||
44 | 35.22-Distribution of gaseous fuels through mains | 346.279 | 346.279 | |||
45 | 35.23-Trade of gaseous fuels through mains | 15.598 | 15.598 | |||
46 | 36.00-Water collection, treatment and supply | 50.966 | 50.966 | |||
47 | 38.11-Collection of non-hazardous waste | - | - | |||
48 | 38.32-Recovery of sorted materials | - | - | |||
49 | 41.20-Building works related to erection of residential and non-residential buildings | - | - | |||
50 | 42.11-Works related to construction of roads and motorways | - | - | |||
51 | 42.12-Works related to construction of railways and underground railways | - | - | |||
52 | 42.22-Works related to construction of telecommunications and electricity lines | - | - | |||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + | |||||
Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD | |||||
Breakdown by sector - NACE 4 digits level and label) | [Gross] carrying amount | [Gross] carrying amount | ||||
Of which environmentally sustainable (CCM + CCA | Of which environmentally sustainable (CCM + CCA | |||||
+ WTR + CE + PPC + BIO) | + WTR + CE + PPC + BIO) | |||||
KRON | KRON | |||||
53 | 42.91-Works related to construction of water projects | - | - | |||
54 | 43.21-Electrical installation | - | - | |||
55 | 43.22-Plumbing, heat and air-conditioning installation | - | - | |||
56 | 45.11-Sale of cars and light motor vehicles | - | - | |||
57 | 45.31-Wholesale trade of motor vehicle parts and accessories, excluding motorcycles | - | - | |||
58 | 46.17-Agents involved in the sale of food, beverages and tobacco | - | - | |||
59 | 46.21-Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | - | - | |||
60 | 46.34-Wholesale of alcoholic beverages | - | - | |||
61 | 46.39-Non-specialised wholesale of food, beverages and tobacco | - | - | |||
62 | 46.46-Wholesale of pharmaceutical goods | - | - | |||
63 | 46.73-Wholesale of wood, construction materials and sanitary equipment | - | - | |||
64 | 46.74-Wholesale of hardware and plumbing and heating equipment and supplies | - | - | |||
65 | 46.90-Non-specialised wholesale trade | - | - | |||
66 | 47.11-Retail sale in non-specialised stores with food, beverages or tobacco predominating | 17.075 | 1.629 | |||
67 | 47.30-Retail sale of fuel for motor vehicles in fuel stations | - | - | |||
68 | 47.52-Retail sale of hardware, paints and glass in specialised stores | - | - | |||
69 | 47.54-Retail sale of electrical household appliances in specialised stores | - | - | |||
70 | 47.71-Retail sale of clothing in specialised stores | - | - | |||
71 | 47.73-Dispensing chemist in specialised stores | - | - | |||
72 | 47.77-Retail sale of watches, clocks and jewellery in specialised stores | - | - | |||
73 | 47.78-Other retail sale of new goods in specialised stores | - | - | |||
74 | 49.10-Passenger rail transport, interurban | - | - | |||
75 | 49.20-Freight rail transport | - | - | |||
76 | 49.31-Urban and suburban passenger land transport | - | - | |||
77 | 49.41-Freight transport by road | - | - | |||
78 | 49.50-Transport via pipeline of fuelgases | 199.856 | 197.917 | |||
79 | 51.10-Passenger air transport | - | - | |||
80 | 52.21-Service activities incidental to land transportation | - | - | |||
81 | 52.22-Service activities incidental to sea transportation | - | - | |||
82 | 52.29-Sea transportation agencies activities | - | - | |||
83 | 53.20-Other postal and courier activities | - | - | |||
84 | 56.10-Restaurants and other eating places | - | - | |||
85 | 56.29-Other food service activities | - | - | |||
86 | 60.20-Public and licence television programmes broadcasting | - | - | |||
87 | 61.10-Wired telecommunications activities | 8.42 | - | |||
88 | 61.20-Wireless telecommunications activities, excluding satellite telecommunications activities | 1.177 | - | |||
89 | 62.01-Computer programming activities | - | - | |||
90 | 63.11-Data processing, hosting and related activities | - | - | |||
91 | 65.12-Other personal and property insurance | - | - | |||
92 | 68.32-Management of real estate on a fee or contract basis | - | - | |||
93 | 71.12-Engineering activities and related technical consultancy | - | - | |||
94 | 71.20-Food quality testing and analysis | - | - | |||
95 | 72.19-Other research and experimental development on natural sciences | - | - | |||
and engineering | ||||||
96 | 73.20-Market research and public opinion polling | - | - | |||
97 | 78.20-Temporary employment agency activities | - | - | |||
98 | 80.10-Private security activities, excluding security systems service activities | - | - | |||
99 | 81.10-Buildings service support activities | - | - | |||
100 | 81.21-General cleaning of buildings | - | - | |||
101 | 82.20-Activities of call centres | - | - | |||
102 | 84.13-Regulation of and contribution to more efficient operation of businesses | - | - | |||
103 | 84.24-Public order and safety activities | - | - | |||
104 | 86.22-Specialist medical practice activities | - | - | |||
105 | 86.90-Physiotherapeutical activities | - | - | |||
106 | 92.00-Gambling and betting activities | - | - | |||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 46.44% | 0.43% | 0.02% | 0.08% | ||||
2 | Financial undertakings | 19.10% | 1.12% | 0.10% | 0.19% | |||
3 | Credit institutions | 19.10% | 1.12% | 0.10% | 0.19% | |||
4 | Loans and advances | 19.10% | 1.12% | 0.10% | 0.19% | |||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 4.86% | 0.49% | 0.83% | |||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | |||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | |||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | |||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | |||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 18.45% | 3.59% | 0.01% | 0.80% | |||
21 | Loans and advances | 18.45% | 3.59% | 0.01% | 0.80% | |||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 58.13% | 0.00% | 0.00% | 0.00% | |||
25 | of which loans collateralised by residential immovable property | 96.45% | 0.00% | 0.00% | 0.00% | |||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
29 | Housing financing | |||||||
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | |||
immovable properties | ||||||||
32 | Total GAR assets 27.82% 0.26% 0.00% 0.01% 0.05% | |||||||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.01% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.01% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.01% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Water and marine resources (WTR) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Circular economy (CE) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.01% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.01% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Pollution (PPC) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.01% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | Of which transitional | Proportion of total assets covered | |||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 46.44% | 0.43% | 0.02% | 0.08% | 41.94% | |||
2 | Financial undertakings | 19.11% | 1.12% | 0.10% | 0.19% | 7.59% | ||
3 | Credit institutions | 19.11% | 1.12% | 0.10% | 0.19% | 7.59% | ||
4 | Loans and advances | 19.11% | 1.12% | 0.10% | 0.19% | 7.59% | ||
5 | Debt securities, including UoP | 0.00% | ||||||
6 | Equity instruments | 0.00% | ||||||
7 | Other financial corporations | 0.00% | 4.88% | 0.49% | 0.83% | 0.00% | ||
8 | of which investment firms | 0.00% | ||||||
9 | Loans and advances | 0.00% | ||||||
10 | Debt securities, including UoP | 0.00% | ||||||
11 | Equity instruments | 0.00% | ||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
14 | Debt securities, including UoP | 0.00% | ||||||
15 | Equity instruments | 0.00% | ||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
18 | Debt securities, including UoP | 0.00% | ||||||
19 | Equity instruments | 0.00% | ||||||
20 | Non-financial undertakings | 18.46% | 3.59% | 0.01% | 0.80% | 2.65% | ||
21 | Loans and advances | 18.46% | 3.59% | 0.01% | 0.80% | 2.65% | ||
22 | Debt securities, including UoP | 0.00% | ||||||
23 | Equity instruments | 0.00% | ||||||
24 | Households | 58.13% | 0.00% | 0.00% | 0.00% | 30.17% | ||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 18.18% | |||
26 | of which building renovation loans | 0.00% | ||||||
27 | of which motor vehicle loans | 0.00% | ||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 1.53% | ||
29 | Housing financing | 0.00% | ||||||
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 1.53% | ||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | ||
immovable properties | ||||||||
32 | Total GAR assets | 27.82% | 0.26% | 0.00% | 0.01% | 0.05% | 70.01% | |
Template 3.GAR KPI stock (Turnover) – Financial year end 31 December 2023 (as restated) | ||||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||||
Proportion of total covered assets funding taxonomy relevant | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | Of which transitional | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 44.24% | 0.36% | 0.01% | 0.07% | ||||
2 | Financial undertakings | 17.69% | 1.02% | 0.10% | 0.18% | |||
3 | Credit institutions | 17.69% | 1.02% | 0.10% | 0.18% | |||
4 | Loans and advances | 17.69% | 1.02% | 0.10% | 0.18% | |||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 2.10% | 0.21% | 0.36% | |||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 10.15% | 1.47% | 0.00% | 0.33% | |||
21 | Loans and advances | 10.15% | 1.47% | 0.00% | 0.33% | |||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 59.38% | 0.00% | 0.00% | 0.00% | |||
25 | of which loans collateralised by residential immovable property | 95.31% | 0.00% | 0.00% | 0.00% | |||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
29 | Housing financing | |||||||
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | |||
immovable properties | ||||||||
32 | Total GAR assets 28.87% 0.24% 0.00% 0.01% 0.05% | |||||||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.01% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.01% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.01% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2023 | Water and marine resources (WTR) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2023 | Circular economy (CE) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.01% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.01% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2023 | Pollution (PPC) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.01% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | Of which transitional | Proportion of total assets covered | ||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 44.24% | 0.36% | 0.01% | 0.07% | 42.07% | |||
2 | Financial undertakings | 17.70% | 1.03% | 0.10% | 0.18% | 6.05% | ||
3 | Credit institutions | 17.70% | 1.03% | 0.10% | 0.18% | 6.05% | ||
4 | Loans and advances | 17.70% | 1.03% | 0.10% | 0.18% | 6.05% | ||
5 | Debt securities, including UoP | 0.00% | ||||||
6 | Equity instruments | 0.00% | ||||||
7 | Other financial corporations | 0.00% | 2.11% | 0.21% | 0.36% | 0.00% | ||
8 | of which investment firms | 0.00% | ||||||
9 | Loans and advances | 0.00% | ||||||
10 | Debt securities, including UoP | 0.00% | ||||||
11 | Equity instruments | 0.00% | ||||||
12 | of which management companies | 0.00% | ||||||
13 | Loans and advances | 0.00% | ||||||
14 | Debt securities, including UoP | 0.00% | ||||||
15 | Equity instruments | 0.00% | ||||||
16 | of which insurance undertakings | 0.00% | ||||||
17 | Loans and advances | 0.00% | ||||||
18 | Debt securities, including UoP | 0.00% | ||||||
19 | Equity instruments | 0.00% | ||||||
20 | Non-financial undertakings | 10.16% | 1.47% | 0.00% | 0.33% | 6.13% | ||
21 | Loans and advances | 10.16% | 1.47% | 0.00% | 0.33% | 6.13% | ||
22 | Debt securities, including UoP | 0.00% | ||||||
23 | Equity instruments | 0.00% | ||||||
24 | Households | 59.38% | 0.00% | 0.00% | 0.00% | 28.49% | ||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 17.75% | |||
26 | of which building renovation loans | 0.00% | ||||||
27 | of which motor vehicle loans | 0.00% | ||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 1.39% | ||
29 | Housing financing | 0.00% | ||||||
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 1.39% | ||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
immovable properties | ||||||||
32 | Total GAR assets | 28.87% | 0.24% | 0.00% | 0.01% | 0.05% | 64.46% | |
Template 3.GAR KPI stock (CAPEX) – Financial year | ||||||||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | Of which transitional | ||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 48.91% | 2.00% | 0.04% | 0.59% | ||||
2 | Financial undertakings | 19.48% | 1.44% | 0.23% | 0.37% | |||
3 | Credit institutions | 19.48% | 1.44% | 0.23% | 0.37% | |||
4 | Loans and advances | 19.48% | 1.44% | 0.23% | 0.37% | |||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 4.83% | 0.10% | 0.83% | |||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | |||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | |||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | |||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | |||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 56.38% | 27.54% | 0.03% | 8.31% | |||
21 | Loans and advances | 56.38% | 27.54% | 0.03% | 8.31% | |||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 58.13% | 0.00% | 0.00% | 0.00% | |||
25 | of which loans collateralised by residential immovable property | 96.45% | 0.00% | 0.00% | 0.00% | |||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
29 | Housing financing | |||||||
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | |||
immovable properties | ||||||||
32 | Total GAR assets 29.29% 1.20% 0.00% 0.03% 0.35% | |||||||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | |||||||
Proportion of total covered assets funding taxonomy relevant | ||||||||
(Taxonomy-eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.08% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.02% | 0.01% | 0.00% | ||||
3 | Credit institutions | 0.02% | 0.01% | 0.00% | ||||
4 | Loans and advances | 0.02% | 0.01% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.04% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 1.19% | 0.00% | 0.00% | ||||
21 | Loans and advances | 1.19% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | 0.00% | 0.00% | |||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.05% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Water and marine resources (WTR) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
(Taxonomy-eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | |||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Circular economy (CE) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
(Taxonomy-eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.04% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.04% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Pollution (PPC) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
(Taxonomy-eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.01% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
(Taxonomy-eligible) | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | ||||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | ||||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | ||||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets 0.00% 0.00% 0.00% 0.00% | |||||||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | Proportion of total assets covered | |||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | Of which transitional | ||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 48.99% | 2.00% | 0.04% | 0.59% | 41.94% | |||
2 | Financial undertakings | 19.50% | 1.44% | 0.23% | 0.37% | 7.59% | ||
3 | Credit institutions | 19.50% | 1.44% | 0.23% | 0.37% | 7.59% | ||
4 | Loans and advances | 19.50% | 1.44% | 0.23% | 0.37% | 7.59% | ||
5 | Debt securities, including UoP | 0.00% | ||||||
6 | Equity instruments | 0.00% | ||||||
7 | Other financial corporations | 0.00% | 4.88% | 0.10% | 0.83% | 0.00% | ||
8 | of which investment firms | 0.00% | ||||||
9 | Loans and advances | 0.00% | ||||||
10 | Debt securities, including UoP | 0.00% | ||||||
11 | Equity instruments | 0.00% | ||||||
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
14 | Debt securities, including UoP | 0.00% | ||||||
15 | Equity instruments | 0.00% | ||||||
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
18 | Debt securities, including UoP | 0.00% | ||||||
19 | Equity instruments | 0.00% | ||||||
20 | Non-financial undertakings | 57.61% | 27.54% | 0.03% | 8.31% | 2.65% | ||
21 | Loans and advances | 57.61% | 27.54% | 0.03% | 8.31% | 2.65% | ||
22 | Debt securities, including UoP | 0.00% | ||||||
23 | Equity instruments | 0.00% | ||||||
24 | Households | 58.13% | 0.00% | 0.00% | 0.00% | 30.17% | ||
25 | of which loans collateralised by residential immovable property | 96.45% | 0.00% | 0.00% | 0.00% | 18.18% | ||
26 | of which building renovation loans | 0.00% | ||||||
27 | of which motor vehicle loans | 0.00% | ||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 1.53% | ||
29 | Housing financing | 0.00% | ||||||
30 | Other local government financing | 1.53% | ||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | ||
immovable properties | ||||||||
32 | Total GAR assets 29.34% 1.20% 0.03% 0.35% 70.01% | |||||||
Template 3.GAR KPI stock (CAPEX) – Financial year | ||||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | Of which transitional | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 46.98% | 1.92% | 0.04% | 0.56% | ||||
2 | Financial undertakings | 18.06% | 1.33% | 0.23% | 0.34% | |||
3 | Credit institutions | 18.06% | 1.33% | 0.23% | 0.34% | |||
4 | Loans and advances | 18.06% | 1.33% | 0.23% | 0.34% | |||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 2.09% | 0.04% | 0.36% | |||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 28.57% | 11.87% | 0.01% | 3.51% | |||
21 | Loans and advances | 28.57% | 11.87% | 0.01% | 3.51% | |||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 59.38% | 0.00% | 0.00% | 0.00% | |||
25 | of which loans collateralised by residential immovable property | 95.31% | 0.00% | 0.00% | 0.00% | |||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
29 | Housing financing | |||||||
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | |||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | |||
immovable properties | ||||||||
32 | Total GAR assets | 30.65% | 1.25% | 0.02% | 0.37% | |||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.03% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.02% | 0.01% | 0.00% | ||||
3 | Credit institutions | 0.02% | 0.01% | 0.00% | ||||
4 | Loans and advances | 0.02% | 0.01% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.02% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.16% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.16% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | 0.00% | 0.00% | |||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets | 0.02% | 0.00% | 0.00% | ||||
Financial year end 31 December 2023 | Water and marine resources (WTR) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | ||||
Financial year end 31 December 2023 | Circular economy (CE) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.01% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.01% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | ||||
Financial year end 31 December 2023 | Pollution (PPC) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | ||||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to total covered assets in the denominator) | Of which Use of Proceeds | |||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | ||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | ||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | ||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | ||||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant | ||||||||
% (compared to total covered assets in the denominator) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | Of which transitional | Proportion of total assets covered | ||||||
Of which enabling | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 47.00% | 1.92% | 0.04% | 0.56% | 42.07% | |||
2 | Financial undertakings | 18.08% | 1.34% | 0.23% | 0.34% | 6.05% | ||
3 | Credit institutions | 18.08% | 1.34% | 0.23% | 0.34% | 6.05% | ||
4 | Loans and advances | 18.08% | 1.34% | 0.23% | 0.34% | 6.05% | ||
5 | Debt securities, including UoP | 0.00% | ||||||
6 | Equity instruments | 0.00% | ||||||
7 | Other financial corporations | 0.00% | 2.11% | 0.04% | 0.36% | 0.00% | ||
8 | of which investment firms | 0.00% | ||||||
9 | Loans and advances | 0.00% | ||||||
10 | Debt securities, including UoP | 0.00% | ||||||
11 | Equity instruments | 0.00% | ||||||
12 | of which management companies | 0.00% | ||||||
13 | Loans and advances | 0.00% | ||||||
14 | Debt securities, including UoP | 0.00% | ||||||
15 | Equity instruments | 0.00% | ||||||
16 | of which insurance undertakings | 0.00% | ||||||
17 | Loans and advances | 0.00% | ||||||
18 | Debt securities, including UoP | 0.00% | ||||||
19 | Equity instruments | 0.00% | ||||||
20 | Non-financial undertakings | 28.74% | 11.87% | 0.01% | 3.51% | 6.13% | ||
21 | Loans and advances | 28.74% | 11.87% | 0.01% | 3.51% | 6.13% | ||
22 | Debt securities, including UoP | 0.00% | ||||||
23 | Equity instruments | 0.00% | ||||||
24 | Households | 59.38% | 0.00% | 0.00% | 0.00% | 28.49% | ||
25 | of which loans collateralised by residential immovable property | 95.31% | 0.00% | 0.00% | 0.00% | 17.75% | ||
26 | of which building renovation loans | 0.00% | ||||||
27 | of which motor vehicle loans | 0.00% | ||||||
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 1.39% | ||
29 | Housing financing | 0.00% | ||||||
30 | Other local government financing | 1.39% | ||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
immovable properties | ||||||||
32 | Total GAR assets | 30.67% | 1.26% | 0.02% | 0.37% | 64.46% |
Template 4.GAR KPI flow (Turnover) – Financial year end 31 December 2024
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to flow of total eligible assets) | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 65.17% | 0.59% | 0.02% | 0.11% | ||||
2 | Financial undertakings | 18.95% | 1.15% | 0.07% | 0.19% | |||
3 | Credit institutions | 18.95% | 1.15% | 0.07% | 0.19% | |||
4 | Loans and advances | 18.95% | 1.15% | 0.07% | 0.19% | |||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 4.48% | 2.33% | 0.01% | 0.51% | |||
21 | Loans and advances | 4.48% | 2.33% | 0.01% | 0.51% | |||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 100.00% | 0.00% | 0.00% | 0.00% | |||
25 | of which loans collateralised by residential immovable property | 100.00% | 0.00% | 0.00% | 0.00% | |||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 36.96% 0.34% 0.00% 0.01% 0.06% | ||||||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.01% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.01% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.01% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% 0.00% 0.00% 0.00% | ||||||
Financial year end 31 December 2024 | Water and marine resources (WTR) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% 0.00% 0.00% 0.00% | ||||||
Financial year end 31 December 2024 | Circular economy (CE) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.04% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.04% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% 0.00% 0.00% 0.00% | ||||||
Financial year end 31 December 2024 | Pollution (PPC) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% 0.00% 0.00% 0.00% | ||||||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
eligible) | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% 0.00% 0.00% 0.00% | ||||||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | Proportion of total new assets covered | |||||||
% (compared to flow of total eligible assets) | Of which Use of | Of which | Of which enabling | |||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 65.18% | 0.59% | 0.02% | 0.11% | 52.19% | |||
2 | Financial undertakings | 18.96% | 1.15% | 0.07% | 0.19% | 16.18% | ||
3 | Credit institutions | 18.96% | 1.15% | 0.07% | 0.19% | 16.18% | ||
4 | Loans and advances | 18.96% | 1.15% | 0.07% | 0.19% | 16.18% | ||
5 | Debt securities, including UoP | 0.00% | ||||||
6 | Equity instruments | 0.00% | ||||||
7 | Other financial corporations | 0.00% | ||||||
8 | of which investment firms | 0.00% | ||||||
9 | Loans and advances | 0.00% | ||||||
10 | Debt securities, including UoP | 0.00% | ||||||
11 | Equity instruments | 0.00% | ||||||
12 | of which management companies | 0.00% | ||||||
13 | Loans and advances | 0.00% | ||||||
14 | Debt securities, including UoP | 0.00% | ||||||
15 | Equity instruments | 0.00% | ||||||
16 | of which insurance undertakings | 0.00% | ||||||
17 | Loans and advances | 0.00% | ||||||
18 | Debt securities, including UoP | 0.00% | ||||||
19 | Equity instruments | 0.00% | ||||||
20 | Non-financial undertakings | 4.53% | 2.33% | 0.01% | 0.51% | 5.29% | ||
21 | Loans and advances | 4.53% | 2.33% | 0.01% | 0.51% | 5.29% | ||
22 | Debt securities, including UoP | 0.00% | ||||||
23 | Equity instruments | 0.00% | ||||||
24 | Households | 100.00% | 0.00% | 0.00% | 0.00% | 30.71% | ||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 30.71% | |||
26 | of which building renovation loans | 0.00% | ||||||
27 | of which motor vehicle loans | 0.00% | ||||||
28 | Local governments financing | 0.00% | ||||||
29 | Housing financing | 0.00% | ||||||
30 | Other local government financing | 0.00% | ||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | ||||||
immovable properties | ||||||||
32 | Total GAR assets | 36.96% 0.34% 0.00% 0.01% 0.06% | 92.03% | |||||
Template 4.GAR KPI flow (CAPEX) – Financial year | ||||||||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
% (compared to flow of total eligible assets) | ||||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Of which Use of | Of which | Of which enabling | ||||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 65.90% | 1.25% | 0.06% | 0.45% | ||||
2 | Financial undertakings | 19.27% | 1.43% | 0.19% | 0.37% | |||
3 | Credit institutions | 19.27% | 1.43% | 0.19% | 0.37% | |||
4 | Loans and advances | 19.27% | 1.43% | 0.19% | 0.37% | |||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 10.63% | 7.95% | 0.01% | 3.29% | |||
21 | Loans and advances | 10.63% | 7.95% | 0.01% | 3.29% | |||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 100.00% | 0.00% | 0.00% | 0.00% | |||
25 | of which loans collateralised by residential immovable property | 100.00% | 0.00% | 0.00% | 0.00% | |||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 37.37% | 0.71% | 0.00% | 0.03% | 0.25% | ||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.41% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.02% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.02% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.02% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 4.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 4.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.23% | 0.00% | 0.00% | 0.00% | |||
Financial year end 31 December 2024 | Water and marine resources (WTR) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00% | |||
Financial year end 31 December 2024 | Circular economy (CE) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.01% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.10% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.10% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | 0.00% | 0.00% | 0.00% | ||||
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | ||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.01% | 0.00% | 0.00% | 0.00% | |||
Financial year end 31 December 2024 | Pollution (PPC) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00% | |||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
% (compared to flow of total eligible assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of | Of which enabling | |||||||
Proceeds | ||||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 0.00% | 0.00% | 0.00% | |||||
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | ||||
3 | Credit institutions | 0.00% | 0.00% | 0.00% | ||||
4 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
5 | Debt securities, including UoP | |||||||
6 | Equity instruments | |||||||
7 | Other financial corporations | |||||||
8 | of which investment firms | |||||||
9 | Loans and advances | |||||||
10 | Debt securities, including UoP | |||||||
11 | Equity instruments | |||||||
12 | of which management companies | |||||||
13 | Loans and advances | |||||||
14 | Debt securities, including UoP | |||||||
15 | Equity instruments | |||||||
16 | of which insurance undertakings | |||||||
17 | Loans and advances | |||||||
18 | Debt securities, including UoP | |||||||
19 | Equity instruments | |||||||
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | ||||
21 | Loans and advances | 0.00% | 0.00% | 0.00% | ||||
22 | Debt securities, including UoP | |||||||
23 | Equity instruments | |||||||
24 | Households | |||||||
25 | of which loans collateralised by residential immovable property | |||||||
26 | of which building renovation loans | |||||||
27 | of which motor vehicle loans | |||||||
28 | Local governments financing | |||||||
29 | Housing financing | |||||||
30 | Other local government financing | |||||||
31 | Collateral obtained by taking possession: residential and commercial | |||||||
immovable properties | ||||||||
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00% | |||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | ||||||||
% (compared to flow of total eligible assets) | Proportion of total new assets covered | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||||
Of which Use of | Of which | Of which enabling | ||||||
Proceeds | transitional | |||||||
GAR - Covered assets in both numerator and denominator | ||||||||
Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | ||||||||
1 | 66.32% | 1.25% | 0.06% | 0.45% | 52.19% | |||
2 | Financial undertakings | 19.28% | 1.43% | 0.19% | 0.37% | 16.18% | ||
3 | Credit institutions | 19.28% | 1.43% | 0.19% | 0.37% | 16.18% | ||
4 | Loans and advances | 19.28% | 1.43% | 0.19% | 0.37% | 16.18% | ||
5 | Debt securities, including UoP | 0.00% | ||||||
6 | Equity instruments | 0.00% | ||||||
7 | Other financial corporations | 0.00% | ||||||
8 | of which investment firms | 0.00% | ||||||
9 | Loans and advances | 0.00% | ||||||
10 | Debt securities, including UoP | 0.00% | ||||||
11 | Equity instruments | 0.00% | ||||||
12 | of which management companies | 0.00% | ||||||
13 | Loans and advances | 0.00% | ||||||
14 | Debt securities, including UoP | 0.00% | ||||||
15 | Equity instruments | 0.00% | ||||||
16 | of which insurance undertakings | 0.00% | ||||||
17 | Loans and advances | 0.00% | ||||||
18 | Debt securities, including UoP | 0.00% | ||||||
19 | Equity instruments | 0.00% | ||||||
20 | Non-financial undertakings | 14.73% | 7.95% | 0.01% | 3.29% | 5.29% | ||
21 | Loans and advances | 14.73% | 7.95% | 0.01% | 3.29% | 5.29% | ||
22 | Debt securities, including UoP | 0.00% | ||||||
23 | Equity instruments | 0.00% | ||||||
24 | Households | 100.00% | 0.00% | 0.00% | 0.00% | 30.71% | ||
25 | of which loans collateralised by residential immovable property | 100.00% | 0.00% | 0.00% | 0.00% | 30.71% | ||
26 | of which building renovation loans | 0.00% | ||||||
27 | of which motor vehicle loans | 0.00% | ||||||
28 | Local governments financing | 0.00% | ||||||
29 | Housing financing | 0.00% | ||||||
30 | Other local government financing | 0.00% | ||||||
31 | Collateral obtained by taking possession: residential and commercial | 0.00% | ||||||
immovable properties | ||||||||
32 | Total GAR assets | 37.61% | 0.71% | 0.03% | 0.25% | 92.03% |
Template 5.KPI off-balance sheet exposures stock (Turnover) – Financial year end 31 December
2024
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 11.87% | 7.06% | 0.03% | 1.51% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.02% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Water and marine resources (WTR) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Circular economy (CE) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.10% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Pollution (PPC) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 11.99% | 7.06% | 0.03% | 1.51% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Template 5.KPI off-balance sheet exposures stock (Turnover) – Financial year restated) | |||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 7.37% | 3.73% | 0.01% | 1.13% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.01% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Water and marine resources (WTR) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Circular economy (CE) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.08% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Pollution (PPC) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 7.47% | 3.73% | 0.01% | 1.13% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Template 5.KPI off-balance sheet exposures flow (Turnover) – Financial December 2024 | |||||||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 12.69% | 10.85% | 0.00% | 2.09% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | ||||||
Proportion of total covered assets funding taxonomy relevant eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Water and marine resources (WTR) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Circular economy (CE) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.01% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Pollution (PPC) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 12.69% | 10.85% | 0.00% | 2.09% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Template 5.KPI off-balance sheet exposures stock (CAPEX) December 2024 | |||||||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 43.91% | 36.64% | 0.03% | 15.92% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.38% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Water and marine resources (WTR) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Circular economy (CE) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.06% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Pollution (PPC) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors eligible) | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors aligned) | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 44.36% | 36.64% | 0.03% | 15.92% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Template 5.KPI off-balance sheet exposures stock (CAPEX) restated) | |||||||
Financial year end 31 December 2023 | Climate Change Mitigation (CCM) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 31.73% | 26.01% | 0.02% | 12.00% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Climate Change Adaptation (CCA) | ||||||
Proportion of total covered assets funding taxonomy relevant | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.20% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Water and marine resources (WTR) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Circular economy (CE) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.05% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Pollution (PPC) | ||||||
Proportion of total covered assets funding taxonomy relevant | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | Biodiversity and Ecosystems (BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Of which Use of Proceeds | |||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2023 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | |||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 31.98% | 26.01% | 0.02% | 12.00% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Template 5.KPI off-balance sheet exposures flow (CAPEX) December 2024 | |||||||
Financial year end 31 December 2024 | Climate Change Mitigation (CCM) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 59.62% | 58.59% | 0.00% | 24.83% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Climate Change Adaptation (CCA) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Of which Use of Proceeds | ||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 1.38% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Water and marine resources (WTR) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Of which Use of Proceeds | ||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Circular economy (CE) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Of which Use of Proceeds | ||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.03% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Pollution (PPC) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Of which Use of Proceeds | ||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | Biodiversity and Ecosystems (BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | |||||||
% (compared to total eligible off-balance sheet assets) | Of which Use of Proceeds | ||||||
Of which enabling | |||||||
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | |||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Financial year end 31 December 2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||
Proportion of total covered assets funding taxonomy relevant sectors | |||||||
% (compared to total eligible off-balance sheet assets) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy | ||||||
Of which Use of Proceeds | |||||||
Of which transitional | Of which enabling | ||||||
1 | Financial guarantees (FinGuar KPI) | 61.04% | 58.59% | 0.00% | 24.83% | ||
2 | Assets under management (AuM KPI) | ||||||
Of which debt securities | |||||||
Of which equity instruments | |||||||
Template 1. Nuclear and fossil gas related activities, stock | |||||||
Row | Nuclear energy and related activities | ||||||
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | No | |||||
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | No | |||||
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | No | |||||
Fossil gas related activities | |||||||
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | No | |||||
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | No | |||||
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels | No |
Independent practitioner’s limited assurance report on
BRD – Groupe Société Générale SA’s consolidated
Sustainability Statement
To: The Shareholders of BRD – Groupe Société Générale SA
Limited assurance conclusion
We have conducted a limited assurance engagement on the consolidated sustainability statement of
BRD – Groupe Société Générale SA (the “Bank”), included in the ‘Consolidated Sustainability
Statement’ section of the Annual Board of Directors’ Report (the “consolidated
Sustainability
Statement”), as at 31 December 2024 and for the period from 1 January 2024 to 31 December 2024.
The Bank’s registered office is in Romania, Bucharest, District 1, 1-7 Ion Mihalache Blvd, and Bank’s
unique fiscal registration code is RO361579.
Based on the procedures we have performed and the evidence we have obtained, nothing has come to
our attention that causes us to believe that the consolidated Sustainability Statement is not prepared, in
all material respects, in accordance with point 33
of National Bank of Romania (NBR) Order no.
27/2010 for approving accounting Regulations in accordance with International Financial Reporting
Standards, republished, with subsequent amendments (the “NBR Order 27/2010”),
implementing
Article 29(a)
of EU Directive 2013/34/EU, including:
●
compliance with the European Sustainability Reporting Standards (ESRS), including that the
process carried out by the Bank to identify the information reported in the consolidated
Sustainability Statement (the “Process”) is in accordance with the description set out in subsection
‘Double Materiality Assessment Process’; and
●
compliance of the taxonomy disclosures in subsection ‘EU Taxonomy’ within the ‘Environmental
Information’ section and in Annex 5 of the consolidated Sustainability Statement with the
applicable reporting requirements of Article 8 of EU Regulation 2020/852 (the “Taxonomy
Regulation”).
Basis for conclusion
We conducted our limited assurance engagement in accordance with International Standard on
Assurance Engagements (ISAE) 3000 (Revised),
Assurance engagements other than audits or reviews
of historical financial information
(“ISAE 3000 (Revised)”),
issued by the International Auditing and
Assurance Standards Board.
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our
conclusion. Our responsibilities under this standard are further described in the Practitioner’s
responsibilities section of our report.
Our independence and quality management
We have complied with the independence and other ethical requirements of the International Code of
Ethics for Professional Accountants (including International Independence Standards) issued by the
International Ethics Standards Board for Accountants (IESBA Code), which is founded on
fundamental principles of integrity, objectivity, professional competence and due care, confidentiality
and professional behaviour and of
the requirements relevant in Romania, including Law 162/2017
regarding statutory audit of annual financial statements and annual consolidated financial statements
and regarding changes to other regulations and subsequent amendments (“Law 162/2017”).
The firm applies International Standard on Quality Management 1, which requires the firm to design,
implement and operate a system of quality management including policies or procedures regarding
compliance with ethical requirements, professional standards and applicable legal and regulatory
requirements.
Responsibilities for the consolidated Sustainability Statement
The Administrators of the Bank are responsible for designing, implementing and maintaining a
process to identify the information reported in the consolidated Sustainability Statement in accordance
with the ESRS and for disclosing this Process in subsection ‘Double Materiality Assessment Process’
of the consolidated Sustainability Statement. This responsibility includes:
●
understanding the context in which the Group’s activities and business relationships take place and
developing an understanding of its affected stakeholders;
●
the identification of the actual and potential impacts (both negative and positive) related to
sustainability matters, as well as risks and opportunities that affect, or could reasonably be
expected to affect, the Group’s financial position, financial performance, cash flows, access to
finance or cost of capital over the short-, medium-, or long-term;
●
the assessment of the materiality of the identified impacts, risks and opportunities related to
sustainability matters by selecting and applying appropriate thresholds; and
●
developing methodologies and making assumptions that are reasonable in the circumstances.
The Administrators of the Bank are further responsible for the preparation of the consolidated
Sustainability Statement, in accordance with the provisions of point 33 of NBR Order 27/2010
implementing Article 29(a)
of EU Directive 2013/34/EU, including:
●
compliance with the ESRS;
●
preparing the taxonomy disclosures in subsection ‘EU Taxonomy’ within the ‘Environmental
Information’ section and in Annex 5 of the consolidated
Sustainability Statement, in compliance
with Article 8 of the Taxonomy Regulation;
●
designing, implementing and maintaining such internal control that the Administrators of the Bank
determine is necessary to enable the preparation of the consolidated Sustainability Statement that
is free from material misstatement, whether due to fraud or error; and
●
the selection and application of appropriate sustainability reporting methods and making
assumptions and estimates about individual sustainability disclosures that are reasonable in the
circumstances.
Those charged with governance
are responsible for overseeing the Group’s sustainability reporting
process.
Inherent limitations in preparing the consolidated Sustainability Statement
In reporting forward-looking information in accordance with ESRS, the Administrators of the Bank
are required to prepare the forward-looking information on the basis of disclosed assumptions about
events that may occur in the future and possible future actions by the Group. Actual outcomes are
likely to be different since anticipated events frequently do not occur as expected.
The criteria, nature of the consolidated Sustainability Statement, and absence of long-standing
established authoritative guidance, standard applications and reporting practices allow for different
measurement methodologies to be adopted which may result in different, but acceptable, measurement
of the underlying subject matter.
Calculations to determine information as included in the consolidated Sustainability Statement could
be based on assumptions and sources from third parties that include information about, among others,
value chain and information collected from actors in the value chain, when appropriate.
Practitioner’s responsibilities
Our responsibility is to plan and perform the assurance engagement to obtain limited assurance about
whether the consolidated Sustainability Statement is free from material misstatement, whether due to
fraud or error, and to issue a limited assurance report that includes our conclusion. Misstatements can
arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence decisions of users taken on the basis of the consolidated
Sustainability Statement as a whole.
As part of a limited assurance engagement in accordance with ISAE 3000 (Revised) we exercise
professional judgement and maintain professional scepticism throughout the engagement.
Our responsibilities in respect of the consolidated Sustainability Statement, in relation to the Process,
include:
●
Obtaining an understanding of the Process, but not for the purpose of providing a conclusion on
the effectiveness of the Process, including the outcome of the Process;
●
Considering whether the information identified addresses the applicable disclosure requirements of
the ESRS; and
●
Designing and performing procedures to evaluate whether the Process is consistent with the
Bank’s description of its Process set out in subsection ‘Double Materiality Assessment Process’.
●
Our other responsibilities in respect of the consolidated
Sustainability Statement include:
o
Identifying disclosures where material misstatements are likely to arise, whether due to fraud
or error; and
o
Designing and performing procedures responsive to disclosures in the consolidated
Sustainability Statement where material misstatements are likely to arise. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.
Summary of the work performed
A limited assurance engagement involves performing procedures to obtain evidence about the
consolidated
Sustainability Statement.
The procedures in a limited assurance engagement vary in nature and timing from, and are less in
extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a
limited assurance engagement is substantially lower than the assurance that would have been obtained
had a reasonable assurance engagement been performed.
The nature, timing and extent of procedures selected depend on professional judgement, including the
identification of disclosures where material misstatements are likely to arise in the consolidated
Sustainability Statement, whether due to fraud or error.
In conducting our limited assurance engagement, with respect to the Process, we:
●
Obtained an understanding of the Process by:
o
performing inquiries to understand the sources of the information used by the Administrators
of the Bank (e.g., stakeholder engagement, business plans and strategy documents); and
o
reviewing the Bank’s internal documentation of its Process; and
●
Evaluated whether the evidence obtained from our procedures with respect to the Process
implemented by the Bank was consistent with the description of the Process set out in subsection
‘Double Materiality Assessment Process’.
In conducting our limited assurance engagement, with respect to the consolidated Sustainability
Statement, we:
●
Obtained an understanding of the Group’s reporting processes relevant to the preparation of its
consolidated
Sustainability Statement by obtaining an understanding of the Group’s control
environment, processes and information system relevant to the preparation of the consolidated
Sustainability Statement, but not for the purpose of providing a conclusion on the effectiveness of
the Group’s internal control;
●
Evaluated whether the information identified by the Process is included in the consolidated
Sustainability Statement;
●
Evaluated whether the structure and the presentation of the consolidated Sustainability Statement
is in accordance with the ESRS;
●
Performed inquires of relevant personnel on selected disclosures in the consolidated Sustainability
Statement;
●
Performed substantive assurance procedures on selected disclosures in the consolidated
Sustainability Statement;
●
Where applicable, compared disclosures in the consolidated Sustainability Statement with the
corresponding disclosures in the consolidated and separate financial statements and Annual Board
of Directors’ Report;
●
Obtained an understanding, and where applicable, evidence on the methods for developing
material estimates and forward-looking information and on how these methods were applied; and
●
Obtained an understanding of the Bank’s process to identify taxonomy-eligible and taxonomy-
aligned economic activities and the corresponding disclosures in the consolidated
Sustainability
Statement.
Other matter – information related to earlier periods
Our limited assurance engagement does not extend to information in respect of periods prior to 1
January 2024. Our conclusion is not modified in respect of this matter.
On behalf of
PricewaterhouseCoopers Audit SRL
Audit firm
registered with the Public Electronic Register of financial auditors and audit firms under no. FA6
Refer to the original signed Romanian version |
Ana-Maria Butucaru
Financial auditor registered with the Public Electronic Register of financial auditors and audit firms
under no. AF3378
Bucharest, 14 March 2025
9. C
ONCLUSIONS AND PERSPECTIVES FOR
2024
Despite the still challenging economic landscape, 2024 was again a strong year for BRD.
BRD adeptly realigned its offerings to reflect evolving market conditions, ensuring its services stayed
both relevant and attuned to customers' changing needs, reflecting in a strong performance, in both
commercial activities and financial results.
As of December 2024 end, net loans outstanding, including leasing financing,
increase compared to December 2023 end, fueled by robust lending activity across both corporate and
private individuals segments. Lending to corporates remained the key growth driver, with a yearly
advance of +29% YoY, while the momentum on retail segment is further nurtured with +13% YoY
increase at December 2024 end.
BRD remains highly committed in building a sustainable economy and continues to finance projects
and engage in initiatives with positive impact. For 2024, BRD new sustainable financing reached over
RON 1.8 billion, leading the cumulative production over the last 3 years to almost EUR 1.3 billion, well
above the target initially set for end of 2025. BRD continued to support projects with positive impacts,
emphasizing support for photovoltaic renewable energy, green buildings, e-mobility, water sector. To
further promote and support green investments, BRD established partnerships with international
financial institutions, like European Investment Fund (EIF) or International Finance Corporation
(through SRT transaction concluded in Q1 2024).
The deposit base continued to grow steadily, +8.9% YoY as of December 2024 end,
fueled by higher
inflows from both segments, retail and non-retail. Along with deposits, BRD savings offer is enabling the
access to a variety of asset classes and strategies through its subsidiary, BRD Assets Management,
which
leads the UCITS market with a substantial increase in assets under management, reaching RON
6.2 billion, a 55% YoY growth, and a market share of 23.1% as of 2024 end.
On the digital front, BRD remained engaged to further develop its digital capabilities, to improve its
services and enhance its clients’ experience. BRD mobile application is constantly enriched with new
features, among the latest ones being the proximity instant payment, RoPAY, or Cashback loyalty
program, and its penetration is further increasing, reaching 1.7 million users at 2024 end.
BRD reported a healthy loan book with a low non-performing loan (NPL) ratio of 2.1% and a
comfortable NPL coverage of 77.8% at 2024 end. BRD Group net profit for the year amounted to RON
1,524 million, with a return on equity (ROE) of 16.6% and solid capital position. These financial results
were driven by revenue growth, disciplined cost management and efficient risk management,
positioning BRD for continued growth.
These results were accompanied by a most valuable prize, as BRD has been awarded “Bank of the Year
in Romania”, for 2024, two years in a row, by the prestigious publication The Banker.
Overall, BRD's performance in 2024 demonstrates its strong commitment to supporting business
growth, funding sustainable projects and enhancing digital banking capabilities, ensuring the Bank
remains well-positioned to meet the evolving needs of its customers and contribute positively to the
economy.
Further details on the Bank’s perspectives and objectives are presented in the budget for 2025 which is
submitted for approval to the Ordinary General Shareholders Meeting.
10. B
OARD OF DIRECTORS
’
1)
Considering the present report, we submit for the approval of the Ordinary General
Shareholders Meeting of BRD the separate and consolidated financial statements
prepared according to the International Financial Reporting Standards as adopted by the
European Union, for the period ended December 31, 2024, made of:
-
Consolidated and separate statement of financial position;
-
Consolidated and separate statement of profit or loss;
-
Consolidated and separate statement of other comprehensive income;
-
Consolidated and separate statement of changes in equity;
-
Consolidated and separate statement of cash flows;
-
Notes to the consolidated and separate financial statements.
2)
Part of the present report, is also Consolidated Sustainability Statement prepared in
accordance with CSRD (Corporate Sustainability Reporting Directive).
3)
Dividend distribution corresponding to a payout ratio of 50% of the Bank’s 2024 net result
(gross dividend of RON 1.0581/share).
4)
Discharge of the Board of Directors.
Delphine Mireille GARCIN - MEUNIER | Maria ROUSSEVA |
Chairman of the Board of Directors | Chief Executive Officer |
Vladimir POJER | Simona PRODAN |
Deputy Chief Executive Officer | Finance Executive Director |
A
NNEX
6:
S
TATEMENT OF
C
OMPLIANCE WITH THE PROVISIONS OF CORPORATE GOVERNANCE CODE OF
B
UCHAREST STOCK EXCHANGE
(BSE)
PROVISION | COMPLY WITH | PARTIAL COMPLY WITH | DO NOT COMPLY WITH | REASON FOR FAILURE COMPLY WITH |
Section A – Responsibilities | ||||
A.1. regulation terms Board the company, applying, among others, the General Principles of Section | X |
A.2. conflict Board of the Board should notify the Board of conflicts may arise, part being present the meeting non-quorate) on issue which interest. | X | |||
A.3. Supervisory five members. | X | |||
A.4. The Board executive. Board should Standard two non-executive of Directors be Tier Board as declaration that the election or re-election as well as when any change demonstrating he/she character according to the following criteria: A.4.1. Not to be the CEO/executive of controlled by it and position for the previous five years. A.4.2. company or of a and not have been in such position previous five (5) years. A.4.3. received additional remuneration advantages company those corresponding to the quality executive director. A.4.4. Is not or of, or relationship, with company, voting rights or with a company controlled by it. A.4.5. Not to have and not have had during the professional company or with a company controlled it, partner, Board/Director, employee relationship character, his/her objectivity. A.4.6. Not last auditor of the current external financial or internal | X |
auditor of the company or a company
controlled by it.
A.4.7. Not to be a CEO/executive officer in
another company where another
CEO/executive officer of the company is a
non-executive director.
A.4.8. Not to have been a non-executive
director of the company for more than
twelve years.
A.4.9. Not to have family ties with a person
in the situations referred to at points
A.4.1. and A.4.4.
A.5. A Board member’s other relatively
permanent professional commitments
and engagements, including executive
and non-executive Board positions in
companies and not-for-profit institutions,
should be disclosed to shareholders and
to potential investors before appointment
and during his/her mandate.
X
A.6. Any member of the Board should
submit to the Board, information on any
relationship with a shareholder who holds
directly or indirectly, shares representing
more than 5% of all voting rights. This
obligation concerns any kind of
relationship which may affect the position
of the member on issues decided by the
Board.
X
A.7. The company should appoint a Board
secretary responsible for supporting the
work of the Board.
X
A.8. The corporate governance statement
should inform on whether an evaluation of
the Board has taken place under the
leadership of the chairman or the
nomination committee and, if it has,
summarize key action points and changes
resulting from it. The company should
have a policy/guidance regarding the
evaluation of the Board containing the
purpose, criteria and frequency of the
evaluation process.
X
A.9. The corporate governance statement
should contain information on the number
of meetings of the Board and the
committees during the past year,
attendance by directors (in person and in
absentia) and a report of the Board and
committees on their activities.
X
A.10 The corporate governance statement
should contain information on the precise
number of the independent members of
the Board of Directors or of the
Supervisory Board.
X
A.11. The Board of Premium Tier
companies should set up a nomination
committee formed of non-executives,
which will lead the process for Board
appointments and make
recommendations to the Board. The
majority of the members of the
nomination committee should be
independent.
X
Section B - Risk management and
internal control system
B.1 The Board should set up an audit
committee, and at least one member
should be an independent non-executive.
The majority of members, including the
chairman, should have proven an
adequate qualification relevant to the
X
functions and responsibilities of the
committee. At least one member of the
audit committee should have proven and
adequate auditing or accounting
experience. In the case of Premium Tier
companies, the audit committee should
be composed of at least three members
and the majority of the audit committee
should be independent.
B.2. The audit committee should be
chaired by an independent non-executive
member.
X
B.3. Among its responsibilities, the audit
committee should undertake an annual
assessment of the system of internal
control.
X
B.4. The assessment should consider the
effectiveness and scope of the internal
audit function, the adequacy of risk
management and internal control reports
to the audit committee of the Board,
management’s responsiveness and
effectiveness in dealing with identified
internal control failings or weaknesses
and their submission of relevant reports to
the Board.
X
B.5. The audit committee should review
conflicts of interests in transactions of the
company and its subsidiaries with related
parties.
X
B.6. The audit committee should evaluate
the efficiency of the internal control
system and risk management system.
X
B.7. The audit committee should monitor
the application of statutory and generally
accepted standards of internal auditing.
The audit committee should receive and
evaluate the reports of the internal audit
team.
X
B.8. Whenever the Code mentions
reviews or analysis to be exercised by the
Audit Committee, these should be
followed by cyclical (at least annual), or
ad-hoc reports to be submitted to the
Board afterwards.
X
B.9. No shareholder may be given undue
preference over other shareholders with
regard to transactions and agreements
made by the company with shareholders
and their related parties.
X
B.10. The Board should adopt a policy
ensuring that any transaction of the
company with any of the companies with
which it has close relations, that is equal
to or more than 5% of the net assets of the
company (as stated in the latest financial
report), should be approved by the Board
following an obligatory opinion of the
Board’s audit committee, and fairly
disclosed to the shareholders and
potential investors, to the extent that such
transactions fall under the category of
events subject to disclosure
requirements.
X
B.11. The internal audits should be carried
out by a separate structural division
(internal audit department) within the
company or by retaining an independent
third-party entity.
X
B.12. To ensure the fulfilment of the core
functions of the internal audit
department, it should report functionally
X
to the Board via the audit committee. For
administrative purposes and in the scope
related to the obligations of the
management to monitor and mitigate
risks, it should report directly to the chief
executive officer.
Section C - Fair rewards and motivation
C.1. The company should publish a
remuneration policy on its website and
include in its annual report a
remuneration statement on the
implementation of this policy during the
annual period under review.
The remuneration policy should be
formulated in such a way that allows
stakeholders to understand the principles
and rationale behind the remuneration of
the members of the Board and the CEO,
as well as of the members of the
Management Board in two-tier board
systems. It should describe the
remuneration governance and decision-
making process, detail the components of
executive remuneration (i.e. salaries,
annual bonus, long term stock-linked
incentives, benefits in kind, pensions, and
others) and describe each component’s
purpose, principles and assumptions
(including the general performance
criteria related to any form of variable
remuneration). In addition, the
remuneration policy should disclose the
duration of the executive’s contract and
their notice period and eventual
compensation for revocation without
cause.
The remuneration report should present
the implementation of the remuneration
policy vis-à-vis the persons identified in
the remuneration policy during the annual
period under review.
Any essential change of the remuneration
policy should be published on the
corporate website in a timely fashion.
X
Section D - Building value through
investors’ relations
D.1. The company should have an Investor
Relations function - indicated, by person
(s) responsible or an organizational unit,
to the general public. In addition to
information required by legal provisions,
the company should include on its
corporate website a dedicated Investor
Relations section, both in Romanian and
English, with all relevant information of
interest for investors, including:
D.1.1. Principal corporate regulations: the
articles of association, general
shareholders’ meeting procedures.
D.1.2. Professional CVs of the members
of its governing bodies, a Board member’s
other professional commitments,
including executive and non-executive
Board positions in companies and not-for-
profit institutions;
D.1.3. Current reports and periodic
reports (quarterly, semi-annual and
annual reports) – at least as provided at
item D.8 – including current reports with
detailed information related to non-
compliance with the present Code;
X
D.1.4. Information related to general
meetings of shareholders: the agenda and
supporting materials; the procedure
approved for the election of Board
members; the rationale for the proposal of
candidates for the election to the Board,
together with their professional CVs;
shareholders’ questions related to the
agenda and the company’s answers,
including the decisions taken;
D.1.5. Information on corporate events,
such as payment of dividends and other
distributions to shareholders, or other
events leading to the acquisition or
limitation of rights of a shareholder,
including the deadlines and principles
applied to such operations. Such
information should be published within a
timeframe that enables investors to make
investment decisions;
D.1.6. The name and contact data of a
person who should be able to provide
knowledgeable information on request;
D.1.7. Corporate presentations (e.g. IR
presentations, quarterly results
presentations, etc.), financial statements
(quarterly, semi-annual, annual), auditor
reports and annual reports.
D.2. A company should have an annual
cash distribution or dividend policy,
proposed by the CEO or the Management
Board and adopted by the Board, as a set
of directions the company intends to
follow regarding the distribution of net
profit. The annual cash distribution or
dividend policy principles should be
published on the corporate website.
X
D.3. A company should have adopted a
policy with respect to forecasts, whether
they are distributed or not. Forecasts
means the quantified conclusions of
studies aimed at determining the total
impact of a list of factors related to a
future period (so called assumptions): by
nature such a task is based upon a high
level of uncertainty, with results
sometimes significantly differing from
forecasts initially presented. The policy
should provide for the frequency, period
envisaged, and content of forecasts.
Forecasts, if published, may only be part
of annual, semi-annual or quarterly
reports. The forecast policy should be
published on the corporate website.
X
D.4. The rules of general meetings of
shareholders should not restrict the
participation of shareholders in general
meetings and the exercising of their rights.
Amendments of the rules should take
effect, at the earliest, as of the next
general meeting of shareholders.
X
D.5. The external auditors should attend
the shareholders’ meetings when their
reports are presented there.
X
D.6. The Board should present to the
annual general meeting of shareholders a
brief assessment of the internal controls
and significant risk management system,
as well as opinions on issues subject to
resolution at the general meeting.
X
D.7. Any professional, consultant, expert
or financial analyst may participate in the
X
shareholders’ meeting upon prior
invitation from the Chairman of the Board.
Accredited journalists may also
participate in the general meeting of
shareholders, unless the Chairman of the
Board decides otherwise.
D.8. The quarterly and semi-annual
financial reports should include
information in both Romanian and English
regarding the key drivers influencing the
change in sales, operating profit, net profit
and other relevant financial indicators,
both on quarter-on-quarter and year-on-
year terms.
X
D.9. A company should organize at least
two meetings/conference calls with
analysts and investors each year. The
information presented on these
occasions should be published in the IR
section of the company website at the
time of the meetings/conference calls.
X
D.10. If a company supports various forms
of artistic and cultural expression, sport
activities, educational or scientific
activities, and considers the resulting
impact on the innovativeness and
competitiveness of the company part of
its business mission and development
strategy, it should publish the policy
guiding its activity in this area.
X
TRANSLATION
DECLARATION
Acting as directors of BRD - Groupe Société Générale SA, in accordance with
Article 30 of the
Accounting Law no. 82/1991 republished and with art 223, letter A,
paragraph 1 (c) of the ASF
Regulation no. 5/2018 on issuers of financial instruments and market operations,
responsibility for preparing the separate and consolidated financial statements for the year
ended December 31, 2024 and confirm, to the best of our knowledge, the following:
a) The accounting policies used in preparing the separate and consolidated financial
statements for the year ended December 31, 2024 are in accordance with accounting
regulations applicable to credit institutions, as per Order no. 27/2010 for approving the
Accounting Regulations in accordance with International Financial Reporting
Standards, applicable to credit institutions, issued by the National Bank of Romania,
with subsequent amendments;
b) The financial statements present a true and fair view of the financial position, financial
performance and other information related to the activity of BRD and its subsidiaries
included in the financial statements consolidation process ;
c) BRD - Groupe Société Générale SA operates on a going concern basis;
d) The Board of Director’s Report on the financial statements mentioned above includes a
fair review of the development and performance of the Bank and Group, as well as a
description of the main specific risks and uncertainties. Part of the Board of Director’s
Report, is also the Sustainability Statement prepared in accordance with CSRD
(Corporate Sustainability Reporting Directive).
Delphine Mireille GARCIN - MEUNIER Maria ROUSSEVA
Chairman of the Board of Directors Chief Executive Officer