Carrefour - 2017 Registration Document

CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2017 Notes to the Consolidated Financial Statements 2017 REGISTRATION DOCUMENT | CARREFOUR 5. 240 Consumer credit granted by the financial services companies 5.5.1 At December 31, 2017, consumer credit granted by the financial services companies totalled 6,321 million euros (December 31, 2016: 6,273 million euros), as follows: (in millions of euros) December 31, 2017 December 31, 2016 Payment card receivables 4,352 4,432 Loans 2,450 2,347 Consumer credit (on purchases made in Carrefour stores) 70 69 Other financing 273 289 Impairment (824) (863) TOTAL CONSUMER CREDIT GRANTED BY THE FINANCIAL SERVICES COMPANIES 6,321 6,273 Short-term financing 3,866 3,902 Long-term financing 2,455 2,371 Consumer credit financing 5.5.2 The related consumer credit financing amounted to 5,478 million euros at December 31, 2017 (December 31, 2016: 5,330 million euros), as follows: (in millions of euros) December 31, 2017 December 31, 2016 Debt securities (retail certificates of deposit, medium-term notes) 1,032 1,251 Bank borrowings (1) 554 317 Bonds and notes (2) 1,932 1,846 Customer passbook savings deposits 567 501 Securitisations (3) 410 510 Other refinancing debt to financial institutions 973 886 Other 10 19 TOTAL CONSUMER CREDIT FINANCING 5,478 5,330 Short-term borrowings 2,817 3,395 Long-term borrowings 2,661 1,935 A zero-coupon, four-year loan obtained in 2017 by Carrefour Banque from the European Central Bank for 400 million euros (maturing in (1) March 2021). In 2016: (2) new bond issue by Carrefour Banque: five-year variable rate bonds at three-month Euribor +68 bps for 500 million euros (maturing on April 20, – 2021); redemption by Carrefour Banque in April of variable rate bonds representing a nominal amount of 300 million euros. – Master Credit Cards Pass reloadable securitisation programme with compartments launched by Carrefour Banque in November 2013. Asset pool: (3) 560 million euros. Proceeds from the securitisation: 400 million euros. The fund amount at December 31, 2017 was 410 million euros (510 million euros at December 31, 2016). The securitisation fund is fully consolidated in the Group’s financial statements.