Dexia Holding SA · EURONEXT:DEXB
Dexia Holding SA — H1 2010 Earnings Presentation
67 slides from Dexia Holding SA's earnings presentation, Aug 6, 2010
Slide 1: 2Q & 1H 2010 Results and Business Highlights
2Q & 1H 2010 Results and Business Highlights August 6, 2010 Pierre Mariani, CEO Philippe Rucheton, CFO
Slide 2: Disclaimer
Disclaimer This presentation and the information contained herein are provided for information purposes only and may not be complete. It does not constitute an offer to sell or the solicitation to buy any securities issued by Dexia or any entity of the Dexia Group. This presentation includes unaudit
Slide 3: Key Messages
Key Messages EUR 248 m Net Profit in 2Q10 Confirmed commercial dynamic of retail and commercial banking activities Further decrease in Cost of Risk supported by core businesses (10 bps vs 13 bps in 1Q10) and LPM Division (-EUR 88 m) Deleverage and liquidity: acceleration and notable progress Full ex
Slide 4: Agenda
Agenda Group summary 2Q & 1H 2010 Group results 2Q & 1H 2010 results by division Core business lines Legacy portfolio management Conclusion 4
Slide 5: Reported Statement of Income 2Q & 1H 2010
Reported Statement of Income 2Q & 1H 2010 2Q10/ 1H10/ (EUR m) 1Q10* 2Q10 1Q10 1H09* 1H10 1H09 Income 1,491 1,371 -8.0% 3,333 2,862 -14.1% Expenses -884 -874 -1.1% -1,771 -1,758 -0.7% Gross operating income 607 497 -18.1% 1,562 1,104 -29.3% Cost of risk -265 -126 -52.5% -737 -391 -46.9% Other impairm
Slide 6: Statement of Income of Core and LPM Divisions – 2Q 2010
Statement of Income of Core and LPM Divisions – 2Q 2010 (EUR m) Core Division 2Q10/ CORE DIVISION 2Q09* 1Q10* 2Q10 1Q10 3% increase in revenues vs 1Q10 exc. capital gains of EUR 69 m on the sale of SPE and Income 1,371 1,179 1,311 11.2% EUR 29 m on the sale of DEP booked in 2Q10 Expenses -846 -855 -
Slide 7: Agenda
Agenda Group summary 2Q & 1H 2010 Group results 2Q & 1H 2010 results by division Core business lines Legacy portfolio management Conclusion 7
Slide 8: Agenda
Agenda Group summary 2Q & 1H 2010 Group results 2Q & 1H 2010 results by division Core business lines Legacy portfolio management Conclusion 8
Slide 9: 2Q 2010 results by division – Core Division: Revenues
2Q 2010 results by division – Core Division Focus on Revenues Retail & Commercial Public & Wholesale Asset Management & Group Center Banking Banking Services (EUR m) +0.8% (EUR m) (EUR m) (EUR m) -2.0% +21.5% 68 717 294 237 711 232 242 1Q10 2Q10 -11 1Q10 2Q10 1Q10 2Q10 1Q10 2Q10 Favorable volume gro
Slide 10: 2Q 2010 results by division – Core Division: Costs
2Q 2010 results by division – Core Division Focus on Costs Retail & Commercial Public & Wholesale Asset Management & Group Center Banking Banking Services (EUR m) -0.1% (EUR m) -0.8% (EUR m) (EUR m) -22.0% +5.3% 76 473 472 139 138 176 167 59 1Q10 2Q10 1Q10 2Q10 1Q10 2Q10 1Q10 2Q10 RCB cost reduction
Slide 11: 2Q 2010 results by division – Core Division: Cost of Risk
2Q 2010 results by division – Core Division Focus on Cost of Risk RCB in EUR m RCB in bps * 331 314 100 93 268 245 80 70 63 Further improvement of 153 RCB CoR in 2Q10 vs 65 70 75 80 1Q10 driven by 92 bps 55 56 65 55 39 23 26 23 47 22 decrease in CoR in 13 Turkey 2Q09 3Q09 4Q09 1Q10 2Q10 2Q09 3Q09 4Q
Slide 12: 2Q 2010 results by division – Core Division: Pre-Tax Income
2Q 2010 results by division – Core Division Focus on Pre-Tax Income Retail & Commercial Public & Wholesale Asset Management & Group Center Banking Banking Services (EUR m) (EUR m) (EUR m) (EUR m) +10.4% -16.7% 187 +88.0% 149 70 1Q10 2Q10 169 58 79 -116 -119 1Q10 2Q10 1Q10 2Q10 1Q10 2Q10 +2.5% RCB pr
Slide 13: 2Q 2010 results by division – Legacy Portfolio Management Division
2Q 2010 results by division – Legacy Portfolio Management Division Revenues Costs Cost of risk Pre-tax income (EUR m) (EUR m) (EUR m) (EUR m) +0.7% 123 311 -80.3% 29 29 1Q10 2Q10 -71 61 -55.2% 1Q10 2Q10 -159 1Q10 2Q10 1Q10 2Q10 -39 Revenues of 1Q10 supported by EUR 153 m capital gains (sale of commo
Slide 14: Agenda
Agenda Group summary 2Q & 1H 2010 Group results 2Q & 1H 2010 results by division Core business lines Legacy portfolio management Conclusion 14
Slide 15: RCB – Focus on Belgium and Luxembourg
RCB – Focus on Belgium and Luxembourg Customer deposits Customers product mix oriented towards deposits and life insurance in Belgium and Luxembourg (EUR bn) +8% EUR 1.6 bn additional deposits collected in 2Q10 and 70.9 74.9 76.6 EUR 5.7 bn yoy Deposit mix remaining saving accounts oriented (+1.2% i
Slide 16: RCB – Focus on Turkey
RCB – Focus on Turkey Customer loans and deposits Sustained 2Q10 commercial activity following robust recovery of the Turkish economy: (TRY bn) 20.9 At TRY 16.6 bn, deposits up 5.7% qoq (+25% yoy) 18.6 19.4 17.2 17.8 16.6 driven by both Retail and PWB (higher than sector 14.7 15.7 13.2 average at +1
Slide 17: RCB P&L – 2Q 2010
RCB P&L – 2Q 2010 RCB - income by country (2Q 2010) Income Stable qoq at EUR 717 m as revenue increase in Belgium & Luxembourg (+3%) mitigated by pressure on income in Other Turkey (-3%) Turkey 2% 32% Up 4% versus 1H09 at EUR 1,428 m supported by volume growth and favorable deposit mix in Belgium an
Slide 18: PWB
PWB Long-term originations Public Banking Total long term commitments stable qoq and (EUR bn) 3.1 down 2% yoy as a result of refocus of the 2.8 0.2 business line on core geographies 0.3 2.2 0.2 0.1 0.5 EUR 5.0 bn new loan production in 1H10 0.3 (+3% yoy) o/w EUR 2.8 bn in 2Q10 driven by 2.6 1.8 2.1
Slide 19: PWB P&L – 2Q 2010
PWB P&L – 2Q 2010 PWB - Income by country (2Q10) Income: At EUR 294 m, including EUR 69 m of capital gain on Other SPE in 2Q10 markets ** 13% Down 26% in 1H10 vs 1H09 mainly due to higher Iberia (Spain allocated cost of funding in 1Q10 following alignment of & Portugal) Belgium * the Core Division w
Slide 20: Asset Management & Services
Asset Management & Services Activity figures Asset management 7.1% increase in AuM yoy Qoq 2.9% decrease explained by negative market 2.49 2.43 1,116 effect 2.00 85 83 807 Focus on client-oriented solutions based on leading 77 SRI expertise 589 653 994 Life Insurance 470 Non Gross written premiums u
Slide 21: Asset Management & Services – P&L 2Q 2010
Asset Management & Services – P&L 2Q 2010 Asset management Income by segment (2Q10) Income up 3% qoq due to higher management fees (improved Asset Mgt product mix) 22% Stable Costs qoq Total cost / average AUM at 15 bps reflecting high efficiency Pre-tax income 2Q10: EUR 18 m Insurance 35% Insurance
Slide 22: Agenda
Agenda Group summary 2Q & 1H 2010 Group results 1Q & 1H 2010 results by division Core business lines Legacy portfolio management Conclusion 22
Slide 23: Bond Portfolio in Run-off
Bond Portfolio in Run-off Bond portfolio in run-off (EUR bn) AAA AA A BBB NIG Total Public sector 2.2 14.0 9.1 3.8 1.1 30.2 Sovereigns 1.1 6.7 1.3 8.5 0.2 17.7 Banks 3.8 4.8 12.8 3.8 1.3 26.5 Covered bonds 7.4 4.6 0.2 0.0 0.0 12.2 ABS 7.8 2.4 1.2 0.4 1.0 12.9 MBS 7.5 2.7 0.6 0.5 0.9 12.2 Other 0.3 0
Slide 24: Financial Products Portfolio (1/2)
Financial Products Portfolio (1/2) Financial Products portfolio (USD 14.6 bn / EUR 11.9 bn) AAA AA A BBB NIG Total US RMBS 0.3 0.8 0.3 0.1 8.4 9.9 o/w Subprime RMBS 0.3 0.6 0.3 0.1 5.7 6.9 o/w Alt-A first lien 0.1 0.1 0.0 0.1 2.3 2.6 Other ABS 0.0 0.3 0.6 0.6 0.3 1.8 Agency debt, public related 1.9
Slide 25: Financial Products Portfolio (2/2)
Financial Products Portfolio (2/2) Despite remaining uncertainty regarding future direction of US real estate market, first signs of stabilization: Partially driven by temporary government programs to help troubled homeowners Leading to a reduction of the delinquent loans in the pool of mortgages of
Slide 26: PWB Run-Off Commitments
PWB Run-Off Commitments PWB run-off loans PWB run-off loans down by EUR 1.3 bn qoq (EUR bn) (EUR 1.9 since December 2009) -31% Driven by a decrease of commitments in Japan (active deleverage of loans) and Australia Impact of foreign exchange (EUR 0.9 bn qoq and 23.0 EUR 2.1 bn in 1H10) offsetting pa
Slide 27: Agenda
Agenda Group summary 1Q 2010 Group results 1Q 2010 results by division Core business lines Legacy portfolio management Conclusion 27
Slide 28: Balance Sheet impacted by volatility of foreign exchange and interest rates
Balance Sheet impacted by volatility of foreign exchange and interest rates Total Group assets In 1H10 and 2Q10 adjustments of fair value (EUR bn) assets and cash collateral owing to: 651 Foreign exchange volatility (EUR/USD -14.8% vs 22 592 578 588 609 Other assets Dec. 09 and -9.4% qoq / EUR/TRY -
Slide 29: AFS reserve
AFS reserve Evolution of AFS reserve * Negative AFS reserve (exc. L&R) increased by EUR 2.4 bn vs end of March 2010 (EUR bn) 30/06/09 31/12/09 31/03/10 30/06/10 Negative impact of EUR 2.2 bn on the AFS on bonds mainly explained by foreign exchange and spread 0.4 0.4 0.2 0.1 widening on Sovereigns Ne
Slide 30: Continued Improvement of the Group’s Liquidity Profile
Continued Improvement of the Group’s Liquidity Profile Short-term funding need Full exit of the State guarantee on June 30th 2010 thanks to continued improvement of the 250 Group’s liquidity situation 200 Short-term funding need reduced by EUR 12 bn EUR 144 bn qoq (EUR 22 bn in H1 2010) at EUR 144 b
Slide 31: Sustained Pace of Deleverage
Sustained Pace of Deleverage Total sales of bonds and loans Despite volatility on credit markets and poor liquidity, sustained pace of deleverage (EUR bn) maintained since 1Q10 20.3 18.2 1.7 16.3 3.5 Active deleverage of legacy and non legacy 2.4 bonds booked in ALM portfolios: EUR 16.8 bn total bon
Slide 32: Solvency
Solvency Weighted risks Tier 1 ratio & core Tier 1 ratio (EUR bn) 148.6 149.3 144.8 143.2 142.7 12.3% 12.5% 11.8% 12.2% 10.3 10.4 11.3% 2.9 10.3 10.4 10.4 3.3 2.5 3.0 3.0 135.4 132.1 135.5 10.8% 11.3% 11.5% 11.3% 129.8 129.3 10.4% 30/06/2009 30/09/2009 31/12/2009 31/03/2010 30/06/2010 30/06/2009 30/
Slide 33: CEBS Stress Tests
CEBS Stress Tests Estimated Tier 1 ratio in Dec. 2011 14% 12% 10.9% 10% 8% PARIBAS RABOBANK DANSKE DEXIA NORDEA SAN Agricole BARC BBVA ABN/FORTIS RBS BPCE ISP HSBC SOCGEN DB ING UNIC LLOYDS CMZ KBC Crédit BNP NED Estimated Tier 1 ratio of Dexia equal to 10.9% under the combined adverse scenario and
Slide 34: Appendices
Appendices 1 Specific disclosures, based on recommendations from the Financial Stability Board (data as of June 30, 2010) 2 Segment Reporting 3 P&L by Segment 4 Activity Figures 5 Maximum Credit Risk Exposure 6 VaR, BSM and Equity Portfolio 7 Capital Adequacy 8 Asset Quality and Ratings 9 Data per S
Slide 35: 1 – Specific Disclosures, Based on FSB Recommendations
1 – Specific Disclosures, Based on FSB Recommendations Hedged and unhedged CDOs of US residential mortgage assets EUR 7 m of gross notional amount of hedged CDOs of US RMBS protected via CDS bought from banks (100% at least A rated). No protection bought from monolines. EUR 26 m of gross notional am
Slide 36: 1 – Specific Disclosures: Counterparty risk on monolines: exposure
1 – Specific Disclosures, Based on FSB Recommendations Counterparty risk on monolines: exposure Protection via other types of (EUR bn) Protection via CDS contracts Remaining Fair Value of the exposure to Gross notional protection before Credit Value counterparty risks Gross notional Total gross Unde
Slide 37: 1 – Specific Disclosures: Counterparty risk on monolines: quality
1 – Specific Disclosures, Based on FSB Recommendations Counterparty risk on monolines: quality of exposure (EUR bn) Underlying assets Monoline counterparty Public Finance Project/Corporate finance ABS by rating* IG NIG Total IG NIG Total IG NIG Total TOTAL AAA/AA 13.7 0.6 14.4 6.5 1.1 7.6 7.0 1.0 8.
Slide 38: 1 – Specific Disclosures: Direct loan exposure to real estate markets
1 – Specific Disclosures, Based on FSB Recommendations Direct loan exposure to US, Spanish and UK real estate markets Direct loan exposure on US Real Estate market Commercial Real Estate: Dexia is exposed to commercial Real-Estate loans only through its US securitization subsidiary, which held asset
Slide 39: 1 – Specific Disclosures: Exposure to CMBS
1 – Specific Disclosures, Based on FSB Recommendations Exposure to CMBS (EUR bn) Gross exposure Protection (nominal) Net exposure Commercial mortgage-backed securities (CMBS) * 1.2 0.02 1.2 * Excluding collective impairments; no specific impairments. Breakdown of CMBS by ratings, geography and secto
Slide 40: 1 – Specific Disclosures: Exposure to US RMBS
1 – Specific Disclosures, Based on FSB Recommendations Exposure to US RMBS* Protection Specific Net exposure Gross exposure (nominal) impairments **** (EUR bn) A B C A-B-C-D Prime 0.1 0.1 0.0 0.0 Alt-A ** 1.6 0.0 0.5 1.1 Subprime *** 5.5 0.1 0.6 4.8 Option ARM 0.4 0.0 0.1 0.3 Others 0.1 0.1 0.0 0.1
Slide 41: 1 – Specific Disclosures: Exposure to UK and Spanish RMBS
1 – Specific Disclosures, Based on FSB Recommendations Exposure to UK and Spanish RMBS* Protection Gross exposure (nominal) Net exposure (EUR bn) A B A-B-C-D UK 1.1 0.0 1.0 o/w Conforming 0.9 0.0 1.2 o/w Non conforming 0.0 0.0 0.0 o/w Buy to let 0.1 0.0 0.1 Spain 2.7 0.0 2.7 98% of UK RMBS are AAA 5
Slide 42: 1 – Specific Disclosures: Exposure to Conduits and SIV
1 – Specific Disclosures, Based on FSB Recommendations Exposure to Conduits and SIV As originator, Sponsor or Co-Sponsor, Dexia has no exposure on conduits or SIV 42
Slide 43: 1 – Specific Disclosures: Exposure to LBO Financing
1 – Specific Disclosures, Based on FSB Recommendations Exposure to LBO Financing Final take Number of accounts 48 Commitments (EUR bn) 1.7 Breakdown of final participations in LBOs Other incl. Food, 6% Energy, 12% Other, 19% Belgium, 19% Industry, 3% Italy, 3% Transports, Luxembourg, 39% 6% UK, 19%
Slide 44: 2 – Segment Reporting
2 – Segment Reporting STATEMENT OF INCOME 2Q 2010 Legacy Retail and Public and Asset portfolio Commercial Wholesale Management management (m EUR) Core division Banking Banking & Services Group Center division Dexia A=B+C+D+E B C D E F G=A+F Income 1,311 717 294 232 68 61 1,371 Expenses -845 -472 -13
Slide 45: 3 – Core and LPM Divisions – P&L without FSA Insurance
3 – Core and LPM Divisions – P&L without FSA Insurance CORE DIVISION – STATEMENT OF INCOME (EUR m) 2Q09* 1Q10* 2Q10 %yoy %qoq 1H09* 1H10 %yoy Income 1,371 1,179 1,311 -4.4% 11.2% 2,502 2,490 -0.5% Expenses -846 -855 -845 n.s. -1.1% -1,677 -1,700 1.3% Gross operating income 526 324 465 -11.5% 43.4% 8
Slide 46: 3 – Core and LPM Divisions – quarterly series
3 – Core and LPM Divisions – quarterly series without FSA Insurance CORE DIVISION (m EUR) 1Q 2009* 2Q 2009* 3Q 2009* 4Q 2009* 1Q 2010* 2Q 2010 Income 1,131 1,371 1,273 1,220 1,179 1,311 Expenses (832) (846) (877) (888) (855) (845) Gross operating income 299 526 397 332 324 465 Cost of risk (83) (213
Slide 47: 3 – RCB – P&L without FSA Insurance
3 – RCB – P&L without FSA Insurance RCB – STATEMENT OF INCOME (EUR m) 2Q09 1Q10 2Q10 %yoy %qoq 1H09 1H10 %yoy Income 686 711 717 4.4% 0.8% 1,376 1,428 3.8% Expenses -463 -473 -472 2.0% -0.1% -919 -945 2.9% C/I ratio 67.5% 66.5% 65.9% 66.8% 66.2% Gross operating income 223 239 244 9.5% 2.5% 458 483 5
Slide 48: 3 – PWB – P&L without FSA Insurance
3 – PWB – P&L without FSA Insurance PWB – STATEMENT OF INCOME (EUR m) 2Q09 1Q10 2Q10 %yoy %qoq 1H09 1H10 %yoy Income 340 242 294 -13.6% 21.5% 726 536 -26.1% Expenses -140 -139 -138 -1.4% -0.8% -278 -278 n.s. C/I ratio 41.2% 57.6% 47.0% 38.3% 51.8% Gross operating income 200 103 156 -22.1% 51.6% 448
Slide 49: 3 – AMS – P&L without FSA Insurance
3 – AMS – P&L without FSA Insurance AMS – STATEMENT OF INCOME (EUR m) 2Q09* 1Q10* 2Q10 %yoy %qoq 1H09* 1H10 %yoy Income 229 237 232 1.3% -2.0% 329 469 42.4% Expenses -163 -167 -176 8.1% 5.3% -325 -343 5.4% C/I ratio 71.0% 70.5% 75.8% 98.8% 73.1% Gross operating income 66 70 56 -15.3% -19.5% 4 126 x3
Slide 50: 3 – Group Center – P&L without FSA Insurance
3 – Group Center – P&L without FSA Insurance GROUP CENTER – STATEMENT OF INCOME (EUR m) 2Q09* 1Q10* 2Q10 Var yoy Var qoq 1H09* 1H10 Var yoy Income 116 -11 68 -48 +79 72 57 -15 Expenses -79 -76 -59 +21 +17 -156 -135 +21 Gross operating income 36 -86 9 -27 +95 -84 -78 -6 Cost of risk -44 -13 9 +53 +21
Slide 51: 4 – Activity Figures: Retail & Commercial Banking
4 – Activity Figures Retail & Commercial Banking 2009 2010 Variation Variation June 30, 2010/ June 30, 2010/ (m EUR) June 30 Sept. 30 Dec. 31 March 31 June 30 June 30, 2009 Dec. 31, 2009 Total customer assets & liabilities 175,190 178,226 179,941 184,194 187,741 7.2% 4.3% Total customer assets 125,6
Slide 52: 4 – Activity Figures: Public & Wholesale Banking
4 – Activity Figures Public & Wholesale Banking LONG-TERM COMMITMENTS LONG-TERM ORIGINATIONS (m EUR) June 30, 2009 June 30, 2010 Variation 2Q 2009 1Q 2010 2Q 2010 Variation yoy Variation qoq Dexia 235,959 231,819 -1.8% 3,082 2,227 2,750 -10.8% 23.5% of which public sector 197,117 193,506 -1.8% 2,577
Slide 53: 4 – Activity Figures: Asset Management & Services
4 – Activity Figures Asset Management & Services Assets under Management (1) 2009 2010 Variation Variation June 30, 2010/ June 30, 2010/ (bn EUR) June 30 Sept. 30 Dec. 31 March 31 June 30 June 30, 2009 March 31, 2010 Total assets under management 77.1 82.6 82.4 85.1 82.7 7.2% -2.8% By type of manage
Slide 54: 4 – Activity Figures: Legacy Portfolio Management Division
4 – Activity Figures Legacy Portfolio Management Division 2009 2010 Var. qoq Var. YTD Current Constant Current Constant (bn EUR) March 31 June 30 Sept. 30 Dec. 31 March 31 June 30 exch. rate exch. rate exch. rate exch. rate Total commitments * 219.1 208.1 193.0 187.2 179.4 176.7 -2.6 -12.3 -10.4 -26
Slide 55: 5 – Maximum Credit Risk Exposure
5 – Maximum Credit Risk Exposure Maximum Credit Risk Exposure as of June 30, 2010* DEXIA GROUP EXPOSURE BY DEXIA GROUP EXPOSURE BY GEOGRAPHICAL REGION CATEGORY OF COUNTERPART (m EUR) (m EUR) Belgium 112,666 Central governments 71,474 France 104,625 Public sector entities 267,662 Germany 38,195 Corpo
Slide 56: 6 – VaR, BSM and Equity Portfolio
6 – VaR, BSM and Equity Portfolio Value at risk (1) IR & FX (Trading and banking) EQT Trading 2Q10 2Q10 2Q10 2Q10 VaR (10 days, 99%), in m EUR 2Q09 4Q09 2Q10 2Q09 4Q09 2Q10 Core Non core Core Non core Average 24.0 20.3 16.5 18.0 2.6 5.6 2.4 2.0 2.0 0.0 By risk factor Q end 17.3 17.5 19.1 17.8 1.7 4.
Slide 57: 6 – BSM & Dexia FP sensitivity and VaR
6 – VaR, BSM and Equity Portfolio BSM & Dexia FP sensitivity and VaR (2) (3) Interest rate Equity Credit spread BSM 2Q09 3Q09 4Q09 1Q10 2Q10 2Q09 3Q09 4Q09 1Q10 2Q10 2Q09 3Q09 4Q09 1Q10 2Q10 Banking companies Sensitivity, in m EUR -201 -97 -104 -83 -116 -15 -16 -16 -16 -13 (1) (4) ALM Var 10d 99% in
Slide 58: 6 – Listed shares sensitivity
6 – VaR, BSM and Equity Portfolio Listed shares sensitivity – Banking companies portfolio (1) (m EUR) Market Value VaR % VaR/MV (2) EaR June 30, 2009 281 45 16.0% (29) (3) (4) September 30, 2009 516 37 17.0% (13) (3) (4) December 31, 2009 503 16 9.0% 0 March 31, 2010 89 7 8.0% 0 June 30, 2010 59 11
Slide 59: 7 – Capital Adequacy
7 – Capital Adequacy Comparison total equity (financial statements) and total equity as calculated for regulatory purposes Dec. 31, 2009 June 30, 2010 Financial Regulatory Financial Regulatory (m EUR) Statements purposes Statements purposes Total shareholders' equity 10,182 10,182 7,614 7,614 Minori
Slide 60: 8 – Asset Quality and Ratings
8 – Asset Quality and Ratings Quality of risk (m EUR, except where indicated) June 30, 2009 Sept. 30, 2009 Dec. 31, 2009 March 31, 2010 June 30, 2010 Impaired loans 3,624 3,720 4,808 5,471 6,016 (1) Portfolio impairments 2,324 2,366 2,657 2,989 3,288 (2) Assets quality ratio 1.0% 1.1% 1.4% 1.6% 1.7%
Slide 61: 9 – Data per Share
9 – Data per Share Number of shares June 30, 2009 December 31, 2009 March 31, 2010 June 30, 2010 Number of shares 1,762,478,783 1,762,478,783 1,762,478,783 1,846,406,344 of which Treasury Shares 293,570 293,570 293,570 307,548 (1) (1) (1) (1) Number of options 71,787,214 71,242,716 71,242,716 68,788
Slide 62: 10 – Balance Sheet: Assets
10 – Balance Sheet Assets ASSETS (m EUR) June 30, 2009 Dec. 31, 2009 June 30, 2010 I. Cash and balances with central banks 3,262 2,673 2,595 II. Loans and advances due from banks 49,242 47,427 60,527 III. Loans and advances to customers 357,374 353,987 363,949 IV. Financial assets measured at fair v
Slide 63: 10 – Balance Sheet: Liabilities
10 – Balance Sheet Liabilities LIABILITIES (m EUR) June 30, 2009 Dec. 31, 2009 June 30, 2010 I. Due to banks 142,637 123,724 109,222 II. Customer borrowings and deposits 121,537 120,950 126,733 III. Financial liabilities measured at fair value through profit or loss 18,809 19,345 20,587 IV. Derivati
Slide 64: 10 – Balance Sheet: Core and LPM Divisions
10 – Balance Sheet Core and LPM Divisions Core Division LPM Division (as of June 30, 2010) (as of June 30, 2010) 456 456 152 152 RCB, 54 Covered FP (GICS), 7 FP, 12 bonds, 77 PWB run-off Covered commitments, bonds, 24 15 Commercial funding, 114 PWB core, Long-term, 49 State 217 guaranteed Long-term
Slide 65: 11 – Amortization of outstanding State guaranteed funding
11 – Amortization of outstanding State guaranteed funding Quarterly amortization of State guaranteed debt outstanding* EUR Bn 12 10 8 6 4 2 0 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 LT ST Total guaranteed short and medium term debt outstanding as of 30/06/2010
Slide 66: 12 – DenizBank’s Consolidated Accounts
12 - DenizBank’s Consolidated Accounts (EUR m) 2Q09* 1Q10* 2Q10 % qoq % yoy 1H09* 1H10 % yoy Income 273 268 258 -3.7% -5.4% 499 526 5.3% Expenses - 101 -111 -119 7.1% 17.4% -189 -229 21.1% Gross operating income 172 157 139 -11.3% -18.8% 310 297 -4.4% Cost of risk & impairments - 82 -54 -29 -46.3% -
Slide 67: 13 – Shareholding Structure
13 – Shareholding Structure As of June 30, 2010 Belgian Federal State French State Caisse des Dépôts 5.7% 5.7% et Consignations 17.6% Three Belgian Regions 5.7% CNP Assurances 3.0% Holding Communal 14.8% Other Institutional and Individual Shareholders Arco Group 27.3% 13.7% Ethias Group Employee 5.0