DEXIA
Quarterly Earnings
By Delphine De Clercq

Introduction
• Dexia is a European bank
• Main activity
• Public finance
• Retail banking
• Headquarter in Brussels
• CEO: Pierre Mariani
• Chairman of the board: Jean-Luc Dehaene

Organization Chart of Dexia

Financial Crisis
• 2008: Financial crisis
• Dexia lose a large part of their value.
• A strong support from the government and shareholders
• Capital of Dexia is increased with 6 billion euro

4Q 2008 Results

4Q 2008 Results

4Q 2008 Results

Financial Security Assurance
• Dexia sold the insurance activities
of FSA to Assured Guaranty (a Bermuda-based holding company)
• The impact of the crisis on Dexia’s net income was € 5,868
million, of which 3,139 million is to blame to FSA.

Full Year 2008 - Consolidated statement of income
•Net loss is € 3,326
million
• Revenues are
almost halved ( -48%)
• Proposal to
exceptionally cancel
dividends for the
financial year 2008

Full Year 2008 - Consolidated statement of income
•Net loss is € 3,326
million
• Revenues are
almost halved ( -48%)
• Proposal to
exceptionally cancel
dividends for the
financial year 2008

Evolution of the Share

Transformation plan to address key challenges
1. Refocus on its core markets

Transformation plan to address key challenges
2. Improving the group risk profil
3. Cost reduction plan of € 600 million