Dexia Holding SA · EURONEXT:DEXB
Dexia Holding SA — Q3 2011 Earnings Presentation
10 slides from Dexia Holding SA's earnings presentation, Nov 9, 2011
Slide 1: 3Q Interim Statement and Business Highlights
3Q Interim Statement and Business Highlights 9 November 2011 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: 3Q 2011 Significant Events and Transactions
3Q 2011 Significant Events and Transactions Change of Publication Format Sharp deterioration of the economic and financial environment in 3Q 2011 leading to an increased refinancing risk for the Dexia group Need for structural measures announced on 10 and 20 October 2011 deeply impacting the group s
Slide 4: Increasing pressure on Dexia's liquidity since 2Q 2011
3Q 2011 Significant Events and Transactions Increasing pressure on Dexia’s liquidity since 2Q 2011 Deepening of the European sovereign crisis leading to an increasing strain on Dexia’s liquidity position: EUR 22 bn decrease in unsecured short term funding in 2Q following decision of S&P and Moody’
Slide 5: New liquidity guarantee scheme
3Q 2011 Significant Events and Transactions New liquidity guarantee scheme New Guarantee scheme extended by Belgium, France and Luxemburg announced by the States and Dexia on October 10, 2011 in a context of worsening financial market conditions to support the restructuring of the Dexia group Guaran
Slide 6: Update on the restructuring process
3Q 2011 Significant Events and Transactions Update on the restructuring process Entities Status Closed on 3 October 2011 / Capital gain of EUR DenizEmeklilik 135 million Closed on 20 October 2011 / Fixed consideration of Dexia Bank Belgium EUR 4 billion and earn-out mechanism in the event of later r
Slide 7: Focus on significant items
Financial Situation 3Q 2011 Focus on significant items Significant items 2Q 2011 3Q 2011 Millions of euros As published Pro forma Loss on the sale of Dexia Bank Belgium -4,065 Impairment on Greek sovereigns, assimilated and -377 -2,317 related hedges Fair-value adjustment and losses on sale of FP as
Slide 8: Focus on impairment on the group's Greek exposure
Financial Situation 3Q 2011 Focus on impairment on the group’s Greek exposure In 3Q11, further impairment on Greek exposure after a 21% impairment on part of the Greek government bonds booked in 2Q11 in line with IIF* plan Impairment of 55% of the total sovereign exposure, resulting in an impact o
Slide 9: Segment reporting (pro forma basis)
Financial Situation 3Q 2011 Segment reporting (pro forma basis) Strong commercial performance in Turkey, with deposits up by 16% leading to a L/D ratio of 116%, vs. 121% in 2Q11; Retail and Commercial robust pre-tax income in 3Q11 and 9M11 despite increase in Banking regulatory reserve requirement R
Slide 10: Update on balance sheet and solvency
Financial Situation 3Q 2011 Update on balance sheet and solvency 30/06/2011 30/06/2011 30/09/2011 as published pro forma pro forma Total balance sheet EUR 518 bn EUR 374 bn EUR 412 bn Core shareholder equity EUR 15.3 bn EUR 11.4 bn EUR 9.0 bn OCI EUR -8.3 bn EUR -6.1 bn EUR -7.8 bn Tier 1 ratio 11.4