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Overview of Dexia Group

 

Profile of the Dexia Group

Operating historically in the fields of public sector finance and retail banking, Dexia Group is a European banking group managed by an orderly resolution since the end of 2011. Dexia S.A., the Group’s parent company, is a limited company under Belgian Law, with its shares listed on Euronext Brussels and Paris as well as the Luxembourg Stock Exchange. Since the end of 2012, the date of a capital increase made by the Belgian and French States, those two States have been the Group’s main shareholders.

In 2008, against a deteriorating economic background, weakened by an unbalanced balance sheet structure, and with the support of the Belgian, French and Luxembourg States, the Dexia Group implemented a restructuring plan, ratified by the European Commission, in order to refocus its activity on its historic franchises, to reduce its risk profile and to rebalance its balance sheet structure.

In the autumn of 2011, confronted by renewed pressures on its liquidity situation, the Group introduced an orderly resolution plan based on two main pillars:

• disposal of the Group’s viable operating franchises;

• management in run-off of its residual assets, with the Group’s viability being assured by a funding guarantee of EUR 85 billion granted by Belgium, France and Luxembourg and a recapitalisation in an amount of EUR 5.5 billion by the Belgian and French States on December 31, 2012.

The Group resolution plan, which aimed at avoiding materialisation of the systemic risk, which would be represented by its immediate liquidation, was approved by the European Commission on December 28, 2012. In accordance with its obligations, the Group disposed of the majority of its operating entities, in particular Dexia Bank Belgium in 2011, Dexia RBC Investor Services, DenizBank and Dexia Banque Internationale à Luxembourg in 2012, Dexia Municipal Agency and Dexia Asset Management at the beginning of 2013.

This strategy results in a significant reduction of the Group’s scope and the size of its balance sheet. Indeed, as of December 31, 2012, before the disposal of Dexia Municipal Agency and Dexia Asset Management, it had fallen to EUR 357.2 billion, a reduction of 13.5 % on December 31, 2011. Considering the entity disposals and the natural impairment of assets, the balance sheet will continue to fall, to approximately EUR 150 billion at the end of 2020, with a pronounced reduction between 2020 and 2025.

© 2014 - Dexia Kommunalbank Deutschland AG

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