Dexia Holding SA · EURONEXT:DEXB
Dexia Holding SA — 9M 2009 Earnings Presentation
71 slides from Dexia Holding SA's earnings presentation, Nov 13, 2009
Slide 1: 9M & 3Q 2009 Results
9M & 3Q 2009 Results November 13, 2009 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 may include futu
Slide 3: Agenda
Agenda Highlights 3Q 2009 Group Results 3Q 2009 Business Lines Results Conclusion Appendices 3 3Q2009 Results
Slide 4: Key Messages
Key Messages Confirmed profitability for the third consecutive quarter 3Q09 net profit of EUR 274 m vs 3Q08 net loss of EUR -1,544 m 9M09 net profit of EUR 808 m vs 9M08 net loss of EUR -723 m Aggregate profitability of core businesses improved Aggregate net profit of EUR 316 m in 3Q09 vs EUR -216 m
Slide 5: Highlights
9M & 3Q 2009 Results Highlights (EUR m) 9M08 9M09 Three consecutive positive quarters in Income 3,805 4,712 9M09 totalling EUR 808 m vs a loss of EUR -723 m in 9M08 Expenses -2,942 -2,687 Gross operating income 863 2,025 3Q09 net profit of EUR 274 m after Cost of risk & impairments -1,866 -872 EUR -
Slide 6: Core Businesses Results
Core Businesses Results Aggregate profitability of core businesses increases P&L of Core Businesses* (EUR m) 3Q08 2Q09 3Q09 % yoy % qoq 9M08 9M09 % yoy Income 1,025 1,286 1,312 28.0% 2.0% 3,817 3,802 -0.4% Expenses -869 -781 -784 -9.8% 0.4% -2,489 -2,335 -6.2% Gross operating income 156 505 528 x3.4
Slide 7: Focus on Revenues
Focus on Revenues Quarterly evolution of revenues mainly coming from Group Center 3Q09 revenues 17% below 2Q09, largely Evolution of Group revenues due to the Group Center (EUR 298 m EUR m quarterly decline) Group Center revenue decline reflects lower 4,712 atypical items in 3Q09* and the natural lo
Slide 8: Focus on Costs
Focus on Costs Cost reduction program on track Evolution of costs* EUR 39 m restructuring charge in 3Q09 related to the measures announced on EUR m Excl. restructuring charges, September 25, 2009 9M09 costs are EUR 244 m below 9M08 Excluding restructuring charges, 3Q09 costs 181 49 are down by 10% y
Slide 9: Focus on Cost of Risk
Focus on Cost of Risk Low cost of risk in 3Q09 Cost of Risk for the Group* Significant collective impairments in 2Q09 and at end 2008 EUR m 3Q09 moderate risk charge in core 947 businesses PWB 817 PWB: 5 bps on average commitments RCB RCB: 75 bps on average loans AMS EUR 59 m reversal of impairments
Slide 10: Balance Sheet Deleverage
Balance Sheet Deleverage EUR 13 bn sales of bonds & loans in 9M09 Bond portfolio in run-off EUR 19 bn reduction in bond portfolios in EUR bn EUR -19bn run-off in 9M09 EUR 11.3 bn net bond sales in 9M09, of which EUR 4.7 bn in 3Q09 P&L impact of EUR -69 m in 9M09 of 158 157 which EUR -43 m in 3Q09 be
Slide 11: Improvement of Group's Liquidity
Improvement of Group’s Liquidity EUR 44 bn Long Term funds raised YTD No new government guaranteed Long-term funds raised YTD benchmark issued since May 2009 EUR bn 44 EUR 12.4 bn covered bonds issued, 41 of which EUR 3.3 bn in 3Q09 9.1 7-year EUR 1 bn Obligations Foncières 34 7.6 49% non guaranteed
Slide 12: Improvement of Group's Liquidity
Improvement of Group’s Liquidity Better Short Term liquidity profile Rebased on 100 110 Overall decrease of short term funding 100 need 90 Total short Improvement of Short Term liquidity profile term funding of the Group thanks to: 80 Access to repo funding, back to pre-crisis 70 levels 60 Improved
Slide 13: Improvement of Group's Liquidity
Improvement of Group’s Liquidity EUR 33 bn decrease of guaranteed debt vs. peak Decrease of guaranteed debt Guaranteed debt outstandings outstandings EUR bn Orderly exit of contracts below 1 New Cap Peak: EUR 95 bn month from the guarantee on 100 October 16th, 2009* Currently EUR 33 bn down from a 8
Slide 14: Refocus on Core Client Franchises: Public & Wholesale Banking
Refocus on Core Client Franchises Public & Wholesale Banking Loan production EUR bn Significant reduction of loan production in 45 9M09 in line with PWB’s refocus on core markets 24 Margins on new loans match Dexia’s increase 8 cost of funding 21 1 7 Revenues decrease mitigated by cost 9M08 9M09 red
Slide 15: Refocus on Core Client Franchises: Retail & Commercial Banking
Refocus on Core Client Franchises Retail & Commercial Banking RCB activity EUR bn 79 80 EUR 7.3 bn increase in deposits YTD (EUR 73 1.5 bn in 3Q09), driven by Belgium and Turkey 50 50 49 Turkey highlights: Loan / Deposit ratio at 124% vs. 146% at end- 2008 Number retail clients: +16% yoy at 2.7 m 31
Slide 16: Refocus on Core Client Franchises: Asset Management & Services
Refocus on Core Client Franchises Asset Management & Services Evolution of assets Asset management 2.3 Continued growth in AUM (+7% qoq) 2.0 24% quarterly rise in revenues driven by performance and management fees; continued strict cost control 77.1 82.6 Ongoing simplification of product range and 1
Slide 17: AFS Reserve
AFS Reserve EUR 2.3 bn reduction of negative AFS reserve Evolution of AFS reserve Year to date, the negative AFS decreased by EUR 4.7 bn EUR bn In 3Q09, the negative AFS reduction 31/03/09 30/06/09 30/09/09 was EUR 2.3 bn, of which EUR 1.9 bn for the “non-frozen” part Frozen Frozen Frozen AFS The no
Slide 18: Solvency
Solvency Tier 1 of 11.8%; Core Tier 1 of 10.8% Risk Weighted Assets Tier 1 ratio & core Tier 1 ratio EUR bn 152.8 153.3 148.6 14.5% 10.3 10.3 144.8 3.1 3.8 10.3 10.3 129.4 2.9 11.3% 11.8% 2.5 10.6% 10.7% 9.1 5.7 139.5 139.2 135.4 13.4% 132.1 114.6 9.8% 10.4% 10.8% 9.6% 30/09/08 31/12/08 31/03/09 30/
Slide 19: European Commission
European Commission Ongoing discussions on Dexia’s restructuring plan The results of Dexia’s restructuring plan are being discussed with the EC Amended State guarantee scheme on funding authorized by the EC until end of February 2010, subject to prior undertakings by Dexia (valid for the same 4 mont
Slide 20: Agenda
Agenda Highlights 3Q 2009 Group Results Group P&L, impacts of the financial crisis AFS reserve and bond portfolios in run-off 3Q 2009 Business Lines Results Conclusion Appendices 20 3Q2009 Results
Slide 21: 3Q 2009 Results, Excluding FSA Insurance
3Q 2009 Results, Excluding FSA Insurance First quarter with limited crisis impact since end-08, profit in line with 1Q09 and 2Q09 Var 3Q09/ Var 3Q09/ (EUR m) 3Q08 2Q09 3Q09 3Q08* 2Q09* Income 467 1,640 1,369 x3.5 -16.5% Income excl. crisis impact 1,744 1,684 1,348 -22.7% -20.0% Expenses -1,026 -875
Slide 22: Quarterly Results Excluding FSA Insurance
Quarterly Results Excluding FSA Insurance Lower revenues and cost of risk, strong cost control Revenues Expenses Gross operating income EUR m EUR m EUR m 972 181 799 809 49 718 1,934 1,839 1,744 1,685 39 432 13 16 1,348 21 -44 977 954 3Q08 4Q08 1Q09 2Q09 3Q09 854 860 877 21 -44 -508 3Q08 4Q08 1Q09 2
Slide 23: Agenda
Agenda Highlights 3Q 2009 Group Results Group P&L, impacts of the financial crisis AFS reserve and bond portfolios in run-off 3Q 2009 Business Lines Results Conclusion Appendices 23 3Q2009 Results
Slide 24: Bond Portfolios in Run-Off, Excluding FP
Bond Portfolios in Run-Off, Excluding FP 97% investment grade Bond portfolio in run-off (EUR bn) AAA AA A BBB NIG Total Public sector 4.5 19.5 7.2 2.0 0.5 33.8 Sovereigns 1.3 5.6 4.3 5.5 0.1 16.8 Banks 5.5 6.3 16.7 3.0 1.0 32.5 Covered bonds 11.9 1.3 0.0 0.0 0.0 13.2 ABS 10.4 3.3 2.6 0.4 0.5 17.2 MB
Slide 25: Financial Products Portfolio, in Run-Off
Financial Products Portfolio, in Run-Off Stabilization of ratings for the past two quarters Financial Products portfolio (USD 15.8bn / EUR 10.8bn) AAA AA A BBB NIG Total US RMBS 0.6 0.9 0.6 0.4 8.5 11.0 o/w Subprime RMBS 0.5 0.6 0.5 0.3 5.3 7.2 o/w Alt-A first lien 0.1 0.2 0.1 0.1 2.6 3.0 Other ABS
Slide 26: Agenda
Agenda Highlights 3Q 2009 Group Results 3Q 2009 Business Lines Results Conclusion Appendices 26 3Q2009 Results
Slide 27: 3Q 2009 Business Lines Results Before and After Crisis Impacts
3Q 2009 Business Lines Results Before and After Crisis Impacts Aggregate profitability of core businesses at EUR 316 m Net income, excl. financial crisis: EUR 269 m Impact from financial crisis: EUR 6 m EUR m EUR m 16 109 89 94 6 2 + -19 -24 PWB RCB AMS Group Center PWB RCB AMS Group Center Reported
Slide 28: Public and Wholesale Banking: Key Financials
Public and Wholesale Banking: Key Financials Revenue decrease mitigated by cost reduction and a stable & low risk charge 3Q09 revenues down by 8% qoq: (EUR m) 3Q08 2Q09 3Q09 9M08 9M09 Lower atypical revenues in 3Q09 vs 2Q09: Income 289 370 341 1,103 1,171 o/w State guarantee fees 0 -41 -40 0 -108 –
Slide 29: Public and Wholesale Banking: Activity Figures
Public and Wholesale Banking: Activity Figures Refocus on core markets & sectors Long-term commitments by geography 7% yoy decrease in commitments mostly driven EUR bn -7.1% by refocus on core PWB markets 285 272 265 yoy Public Finance 91 81 75 -17.2% Temporary lower demand in 9M09 impacts new produ
Slide 30: Public and Wholesale Banking: Activity Figures
Public and Wholesale Banking: Activity Figures Growth in deposit collection & off balance sheet products Loan production EUR bn New production in 3Q09 down to EUR 2.8 bn 14.5 Belgium: lower demand from public sector 6.4 France: low demand from local authorities due to post-electoral cycle, accelerat
Slide 31: Retail and Commercial Banking: Key Financials
Retail and Commercial Banking: Key Financials Good operating performance Revenues (EUR m) 3Q08 2Q09 3Q09 9M08 9M09 In Belgium, revenues +2% qoq due to Income 629 718 733 2,036 2,173 volume growth; revenue stable yoy as Expenses -533 -469 -469 -1,490 -1,399 volume effect offset by lower fees on off C
Slide 32: Retail and Commercial Banking: Activity Figures
Retail and Commercial Banking : Activity Figures change EUR 7.3 bn increase in RCB deposits YTD Customer deposits Loans YTD EUR bn YTD EUR bn Total +10% 49 50 50 Total +1% 79 80 73 4 12 5 4 13 Bonds Other -11% 12 +5% 26 18 19 19 27 Business +3% 28 Term deposits & -5% 3 3 3 savings bonds Consumer -3%
Slide 33: Retail and Commercial Banking: Activity Figures
Retail and Commercial Banking : Activity Figures Good commercial performances of all RCB networks Customer deposits Loans YTD YTD EUR bn EUR bn Total +10% 49 50 50 Total +1% 79 80 73 2 2 2 2 2 6 7 Slovakia +5% 2 8 6 8 8 Slovakia +1% 13 13 13 9 9 9 Turkey +21% Turkey +3% 58 59 Luxembourg -7% 52 Luxem
Slide 34: Asset Management & Services: Key Financials
Asset Management & Services: Key Financials Significant rebound in results (EUR m) 3Q08 2Q09 3Q09 9M08 9M09 Asset Management Income 107 198 238 679 458 24% quarterly increase in revenues Expenses -173 -166 -168 -519 -500 driven by management fees (+14% qoq) C/I ratio 161.7% 83.8% 70.6% 76.4% 109.2%
Slide 35: Asset Management & Services: Key Contributors Excluding Crisis Impacts
Asset Management & Services: Key Contributors Excluding Crisis Impacts Increased contribution from Asset Management and Insurance Asset Management Insurance Investor Services EUR m EUR m EUR m 20 18 65 15 71 71 16 46 2 -48 13 7 4 3Q08 4Q08 1Q09 2Q09 3Q09 3 2 -1 -138 3Q08 4Q08 1Q09 2Q09 3Q09 -201 6 -
Slide 36: Asset Management & Services: Activity Figures
Asset Management & Services: Activity Figures Asset Management AuM up by EUR 5.5 bn (+7%) over the Assets under management quarter mainly related to market impact EUR bn Inflows in institutional funds (EUR 1.2 bn in 3Q09) but outflows in retail funds, although Net new Mkt Net new cash Mkt cash effec
Slide 37: Asset Management & Services: Activity Figures
Asset Management & Services: Activity Figures Insurance Gross Written Premiums down by 22% Insurance premiums yoy, of which: EUR m -26% for life premiums 717 704 +4% for non life premiums 669 678 563 Lower production in Branch 21 and Branch 23 products due to the focus on balance 556 sheet products.
Slide 38: Asset Management & Services: Activity Figures
Asset Management & Services: Activity Figures Investor Services 14% qoq increase in Assets under Assets under administration Administration due to favourable exchange USD bn rate effects and the increased market value 2,280 of clients’ assets 2,004 1,896 Number of Transfer agents accounts 1,775 incr
Slide 39: Group Center: Key Financials
Group Center: Key Financials Negative contribution of EUR -42 m in 3Q09 Bond portfolio in run-off (excl. FP): (EUR m) 3Q08 2Q09 3Q09 9M08 9M09 Growing negative impact of liquidity costs Income -710 355 57 -12 910 Losses on bond sales of EUR 43 m o/w State guarantee fees 0 -86 -84 0 -226 ‘Crisis impa
Slide 40: Group Center: Key Contributors
Group Center: Key Contributors Decreasing influence of crisis impacts Treasury Run-off portfolios Central Assets EUR m EUR m EUR m 173 244 37 31 56 -134 2 114 78 -1 -52 -13 3Q08 4Q08 1Q09 2Q09 3Q09 3Q08 4Q08 1Q09 2Q09 3Q09 178 -17 -90 -77 -4 -251 -318 130 104 66 31 3Q08 4Q08 1Q09 2Q09 3Q09 -12 -12 -
Slide 41: Conclusion
Conclusion Results on Dexia’s restructuring plan are being delivered, with an acceleration over recent quarters The trend in revenues reflects a rapid improvement of the Group’s liquidity as well as a normalisation of financial markets The Group will fully exit from the State guarantee on funding in
Slide 42: Appendices
Appendices 1 Specific disclosures, based on recommendations from the Financial Stability Board (data as of Sept 30, 2009) 2 Cost of Risk PWB and RCB – quarterly series 3 Segment Reporting 4 Crisis Impacts and Cost of Guarantees in 3Q09 5 Activity Figures 6 Credit Risk Exposure 7 VaR and ALM Equity P
Slide 43: Specific Disclosures: Hedged and Unhedged CDOs
1- Specific Disclosures, Based on FSB Recommendations Hedged and unhedged CDOs of US residential mortgage assets EUR 6.1 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 monoliners. EUR 22.4 m of gross notiona
Slide 44: Specific Disclosures: Counterparty Risk on Monolines Exposure
1- Specific Disclosures, Based on FSB Recommendations Counterparty risk on monoliners: 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 45: Specific Disclosures: Monoline Exposure Quality
1- Specific Disclosures, Based on FSB Recommendations Counterparty risk on monoliners: 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 14.3 0.5 14.8 6.1 0.5 6.6 7.3 0.9 8.
Slide 46: Direct Loan Exposure to US, Spanish and UK Real Estate
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 assets
Slide 47: 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) * 1.3 0.02 1.3 * Excluding collective impairment; no specific impairment. Breakdown of CMBS by ratings, geography and sectors
Slide 48: Exposure to US RMBS
1- Specific Disclosures, Based on FSB Recommendations Exposure to US RMBS* Protection Specific Net exposure Gross exposure (nominal) provisions **** (EUR bn) A B C A-B-C Prime 0.1 0.0 0.0 0.1 Alt-A ** 1.6 0.0 0.5 1.0 Subprime *** 4.9 0.1 0.3 4.5 Option ARM 0.4 0.0 0.1 0.3 Total 7.0 0.1 1.0 5.9 Expos
Slide 49: Exposure to UK and Spanish RMBS
1- Specific Disclosures, Based on FSB Recommendations Exposure to UK and Spanish RMBS* Protection (EUR bn) Gross exposure (nominal) Net exposure UK * 1.9 0.1 1.8 o/w Conforming 1.3 0.1 1.3 o/w Non conforming 0.0 - 0.0 o/w Buy to let 0.1 - 0.1 Spain * 3.4 - 3.4 * Excluding collective impairment; no s
Slide 50: 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 50 3Q2009 Results
Slide 51: Exposure to LBO Financing
1- Specific Disclosures, Based on FSB Recommendations Exposure to LBO Financing Final take Number of accounts 80 Commitments (EUR bn) 2.5 Breakdown of final participations in LBOs Energy Danmark Food Other Australia 4% 2% 2% Other 1% 5% 1% Industry Luxembourg 11% 9% Belgium Services Transports 30% 3
Slide 52: Cost of Risk Excluding Crisis Impacts of PWB and RCB
2 - Cost of Risk Excluding Crisis Impacts of PWB and RCB Moderate increase of cost of risk Cost of Risk PWB Cost of Risk RCB Bps Bps 403 cost of risk 6 5 314 268 227 3 3 174 2 80 64 75 35 52 9 15 18 23 26 3Q 2008 4Q 2008 1Q 2009 2Q 2009 3Q 2009 3Q 2008 4Q 2008 1Q 2009 2Q 2009 3Q 2009 RCB Turkey Belg
Slide 53: Segment Reporting
3 – Segment Reporting REPORTED STATEMENT OF INCOME 3Q 2009 Public and Retail and Asset Wholesale Commercial Management (m EUR) Banking Banking & Services Group Center Dexia Income 341 733 238 57 1,369 Expenses (147) (469) (168) (132) (916) Gross operating income 194 264 70 (75) 453 Cost of risk (30)
Slide 54: Financial Crisis Impacts & Cost of Guarantees in 3Q 2009
4 - Financial Crisis Impacts & Cost of Guarantees in 3Q 2009 Limited net EUR +6 m crisis impact in 3Q09 Revenues Cost of risk Net income PWB RCB AMS GC (EUR m) (before tax) (before tax) Financial Products & other FSA -14 -21 -44 -44 Capital gains on equities 25 24 24 Reversal impairments on Islandic
Slide 55: Activity Figures: Public & Wholesale Banking
5 – Activity Figures Public & Wholesale Banking LONG-TERM COMMITMENTS LONG-TERM ORIGINATIONS Var. Sept 30, Variation 2009/Sept 30, 3Q 2009/ (m EUR) Sept. 30, 2008 Sept. 30, 2009 2008 3Q 2008 2Q 2009 3Q 2009 3Q 2008 Dexia 285,465 265,157 -7.1% 14,508 3,027 2,840 -80.4% Belgium 47,734 47,127 -1.3% 2,2
Slide 56: Activity Figures: Retail & Commercial Banking
5 – Activity Figures Retail & Commercial Banking 2008 (1) 2009 Variation Variation Sept. 30, 2009/ Sept. 30, 2009/ (m EUR) Sept. 30 Dec. 31 March 31 June 30 Sept. 30 Sept. 30, 2008 June 30, 2009 Total customer assets & liabilities 180,376 170,656 170,970 174,902 177,927 -1.4% 1.7% Total customer ass
Slide 57: Activity Figures: Asset Management & Services
5 – Activity Figures Asset Management & Services Assets under Management (1) 2008 2009 Variation Variation Sept. 30, 2009/ Sept. 30, 2009/ (bn EUR) Sept. 30 Dec. 31 March 31 June 30 Sept. 30 Sept. 30, 2008 June 30, 2009 Total assets under management 93.7 79.3 73.1 77.1 82.6 -11.8% 7.1% By type of ma
Slide 58: Credit Risk Exposure
6 – Credit Risk Exposure DEXIA GROUP EXPOSURE BY DEXIA GROUP EXPOSURE BY GEOGRAPHICAL REGION CATEGORY OF COUNTERPART (m EUR) (m EUR) Belgium 116,422 Central governments 86,120 France 108,461 Public sector entities 276,761 Germany 40,554 Corporate 48,756 Italy 59,866 Monolines 11,045 Luxembourg 13,24
Slide 59: VaR and Equity Portfolio
7 – VaR and Equity Portfolio 2008 (2) (3) (4) (5) (6) IR & FX (Trading and banking) EQT Trading Spread trading Other risk VaR (10 days, 99%), in m EUR 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Average 30.0 43.6 38.4 62.7 6.5 7.7 7.5 7.7 60.0 79.4 78.0 75.9 1.8 1.3 2.4 3.7 By risk factor Maximu
Slide 60: Banking Companies ALM and Insurance Sensitivity
7 – VaR and Equity Portfolio Banking companies ALM and Insurance Sensitivity 2008 (3) (4) Interest rate Credit spread 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Banking companies (1) Sensitivity, in m EUR -468 -155 -136 -131 -16 -16 -15 -15 ALM Insurance (2) Sensitivity, in m EUR 10 8 9 6 2009 (3) (4) Interest rate Cr
Slide 61: Listed Shares Sensitivity
7 – VaR and Equity Portfolio Listed shares sensitivity – Banking companies portfolio (1) (m EUR) Market Value VaR % VaR/MV (2) EaR September 30, 2008 599 76 12.7% (129) December 31, 2008 396 66 16.7% (69) March 31, 2009 318 53 16.7% (64) June 30, 2009 281 45 16.0% (29) September 30, 2009 516 37 7.2%
Slide 62: Capital Adequacy
8 – Capital Adequacy Comparison total equity (financial statements) and total equity as calculated for regulatory purposes Dec. 31, 2008 Sept. 30, 2009 Financial Regulatory Financial Regulatory (m EUR) Statements purposes Statements purposes Total shareholders' equity 3,916 3,916 9,864 9,864 Minorit
Slide 63: Asset Quality and Ratings
9 – Asset Quality and Ratings Quality of risk (m EUR, except where indicated) Sept. 30, 2008 Dec. 31, 2008 (4) March 31, 2009 June 30, 2009 Sept. 30, 2009 Impaired loans 1,317 3,535 3,652 3,624 3,720 (1) Portfolio impairments 843 2,083 2,318 2,324 2,366 (2) Assets quality ratio 0.50% 0.99% 1.03% 1.0
Slide 64: Data per Share
10 – Data per Share Number of shares Sept. 30, 2008 Dec. 31, 2008 Sept. 30, 2009 Number of shares 1,762,473,283 1,762,478,783 1,762,478,783 of which Treasury Shares 370,693 293,570 293,570 Number of options 72,170,335 71,787,214 71,787,214 Total Number of current/potential future shares 1,834,643,61
Slide 65: Balance Sheet: Assets
11 – Balance Sheet Assets ASSETS (m EUR) Sept. 30, 2008 Dec. 31, 2008 Sept. 30, 2009 I. Cash and balances with central banks 2,067 2,448 9,524 II. Loans and advances due from banks 57,483 61,864 48,660 III. Loans and advances to customers 268,236 368,845 351,652 IV. Financial assets measured at fair
Slide 66: Balance Sheet: Liabilities
11 – Balance Sheet Liabilities LIABILITIES (m EUR) Sept. 30, 2008 Dec. 31, 2008 Sept. 30, 2009 I. Due to banks 206,299 213,192 139,096 II. Customer borrowings and deposits 114,547 114,728 122,274 III. Financial liabilities measured at fair value through profit or loss 19,835 18,952 18,885 IV. Deriva
Slide 67: Balance Sheet
11 - Balance sheet EUR 58 bn balance sheet reduction YTD Total Group assets Total assets down by EUR 58 bn (-9%) since Dec. 2008 EUR bn -58 (-9%) Total assets stable in 3Q09 as the 651 22 592 593 favorable impacts of deleveraging 55 15 14 Other assets measures and the Euro/Dollar parity are 41 43 64
Slide 68: OCI and AFS Reserve
12 – OCI and AFS Reserve of which: Total Accumulated OCI AFS Reserve (EUR m) (EUR m) 30/09/08 31/12/08 31/03/09 30/06/09 30/09/09 30/09/08 31/12/08 31/03/09 30/06/09 30/09/09 -111 12 -1 127 420 -7,591 -9,616 -8,445 -11,011 -11,878 -12,729 -10,756 -11,542 -13,572 -14,366 Equity portfolio Bond portfol
Slide 69: RCB: Contribution of Belgium & Luxembourg
13- RCB: Contribution of Belgium & Luxembourg 35% rise in net income contribution in 9M09 Var. Var. Var. 3Q09/ 3Q09/ 9M09/ In millions of EUR 3Q08 2Q09 3Q09 3Q08 2Q09 9M08 9M09 9M08 Income 417 481 498 19.5% 3.6% 1,408 1,460 3.7% Expenses -387 -347 -353 -8.8% 1.8% -1,098 -1,048 -4.5% Gross operating
Slide 70: DenizBank's Consolidated Accounts
14 - DenizBank’s Consolidated Accounts A new record quarter in terms of net profit Var. 3Q09/ Var. 3Q09/ Var. 9M09/ In millions of EUR 3Q08 2Q09 3Q09 3Q08 2Q09 9M08 9M09 9M08 Income 186 278 253 36.1% -8.8% 546 760 39.9% Expenses - 105 - 100 -97 -7.6% -2.8% - 299 - 286 -4.3% Gross operating income 81
Slide 71: Shareholding Structure
15 – Shareholding Structure As of September 30, 2009 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 14.6% Other Institutional and Individual Shareholders Arco Group 26.8% 14.0% Ethias Group Employe