CONSOLIDATED FINANCIAL STATEMENTS 58 Income statement 58 Net income and gains and losses recognised directly in equity 59 Balance sheet assets 60 Balance sheet liabilities 61 Statement of changes in equity 62 Cash flow statement 64 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 66 1 PRINCIPLES AND METHODS APPLICABLE TO THE GROUP, JUDGEMENT AND ESTIMATES USED 66 1.1 Applicable standards and comparability 66 1.2 Accounting principles and policies 67 1.3 Consolidation principles and methods (IFRS 10, IFRS 11 and IAS 28) 83 2 MAIN ORGANISATIONAL CHANGES AND SIGNIFICANT EVENTS OF THE PERIOD 85 3 FINANCIAL MANAGEMENT, RISK EXPOSURE AND HEDGING POLICY 85 3.1 Credit risk 85 3.2 Sovereign risk exposure 103 3.3 Market risk 103 3.4 Liquidity and funding risk 105 3.5 Hedge accounting 106 3.6 Operational risk 111 3.7 Capital management and regulatory ratios 111 4 NOTES ON NET INCOME AND GAINS AND LOSSES RECOGNISED DIRECTLY IN EQUITY 112 4.1 Interest income and expenses 112 4.2 Fee and commission income and expenses 112 4.3 Net gains or losses on financial instruments at fair value through profit or loss 113 4.4 Net gains or losses on financial instruments at fair value through equity 114 4.5 Net gains or losses resulting from the derecognition of financial assets at amortised cost 114 4.6 Net gains or losses on reclassification of financial assets to fair value through profit or loss [if applicable] 114 4.7 Net income (expenses) from other activities 114 4.8 Operating expenses 114 4.9 Depreciation, amortisation and impairment of property, plant and equipment and intangible assets 115 4.10 Cost of risk 116 4.11 Net gains or losses on other assets 116 4.12 Tax 117 4.13 Change in gains and losses recognised directly in equity 118 5 SEGMENT INFORMATION 119 6 NOTES ON THE BALANCE SHEET 119 6.1 Cash and amounts due from central banks 119 6.2 Financial assets and liabilities at fair value through profit or loss 119 6.3 Hedging derivatives 119 6.4 Financial assets at fair value through other comprehensive income 120 6.5 Financial assets at amortised cost 120 6.6 Transferred assets not derecognised or derecognised with on-going involvement 122 6.7 Financial liabilities at amortised cost 122 6.8 Information on the offsetting of financial assets and liabilities 122 6.9 Current and deferred tax assets and liabilities 123 6.10 Accrual accounts and miscellaneous assets and liabilities 123 6.11 Investment property 124 6.12 Property, plant and equipment and intangible assets (excluding goodwill) 125 Consolidated accounts as at 31 December 2024 CFM Indosuez Wealth Management 56
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