Dexia Holding SA · EURONEXT:DEXB
Dexia Holding SA — Corporate Update (May 2011)
14 slides from Dexia Holding SA's corporate update, May 27, 2011
Slide 1: Acceleration of Dexia deleveraging program
Acceleration of Dexia deleveraging program 27 May 2011 Investors and Analysts conference call Pierre Mariani, Chief Executive Officer
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: Agenda
Agenda 2008-2010: Back to stronger fundamentals 2011: Acceleration of deleveraging 3
Slide 4: Successful development of core franchises
Successful development of core franchises Commercial performance in line with long term ambitions (EUR m, NIBT*) Be Deposits up 16% vs. 2008 o/w +5% in 2010 251 +50.9% Retail & Success of new distribution model in Belgium and Lux Repositioning of private banking in Luxembourg 166 Commer- cial Deposi
Slide 5: Solid solvency
Solid solvency Strong Tier 1 generation since end 2008 Tier 1 and Core Tier 1 ratio Tier 1 capital up EUR 2.3 bn since end of 2008, confirming robust group’s solvency 13.1% 13.4% 12.3% 10.6% Tier 1 ratio at 13.4% as at end of March 2011, up 280 bps since end of 2008 Organic Tier 1 generation (152
Slide 6: Fast pace of asset disposal
Fast pace of asset disposal Legacy Division down EUR 68 bn since end 2008 Legacy Division – Total Balance sheet Less than 1% average loss, for a total sales of bonds and loans of EUR 59.8 bn (EUR bn) between October 2008 and March 2011 191 EUR -68 bn (EUR 62.4 bn as of May 19th 2011) 163 135 123 EUR
Slide 7: Rebalancing the funding profile
Rebalancing the funding profile Significant improvement of funding mix since end 2008 Dexia Group – Total Balance sheet Short term funding needs down EUR 156 bn between end 2008 and (EUR bn) March 2011 638 538 651 578 567 527 EUR 99 billion in medium and long-term 163 22 44 39 resources issued betwe
Slide 8: Agenda
Agenda 2008-2010: Back to stronger fundamentals 2011: Acceleration of deleveraging 8
Slide 9: EUR -3.6 bn impact of accelerated deleveraging
EUR -3.6 bn impact of accelerated deleveraging EUR -1.8 bn for FP guaranteed assets EUR -3.6 bn* impact in 2Q 2011 to cover (March 31th, 2011) the sale of Financial Products guaranteed assets and other assets disposals Notional Cumulative Market value amount impairments Guaranteed EUR 6.6 bn EUR 1.6
Slide 10: EUR -1.8 bn to sell Financial Products guaranteed assets
EUR -1.8 bn to sell Financial Products guaranteed assets Financial Products portfolio Progressive sale of Financial Products Financial Products portfolio (March 31th, 2011) guaranteed assets from 2Q 2011, with the support of specialized investment firms Auctions and private placements strategy Gua
Slide 11: EUR -1.8 bn impact to proceed to other assets disposals
EUR -1.8 bn impact to proceed to other assets disposals Other assets disposals EUR 60 bn bond portfolio available for potential deleveraging Deleveraging criteria Bonds on the banking book, outside Dexia cover pools and bonds currently pledged Risk Beyond pure financial Aiming at selling assets
Slide 12: Estimated impact on Solvency
Estimated impact on Solvency Strong Tier 1 ratio by end of year 2011, despite accelerated deleveraging Tier 1 ratio Tier 1 as of March 2011 at 13.4% enabling acceleration of financial restructuring while maintaining ability to 13.4% sustain challenging macro-economic 12.0%-12.5% 11.0%-11.5% conditio
Slide 13: Improved Profitability, stronger Risk and Liquidity profile
Improved Profitability, stronger Risk and Liquidity profile Profitability Liquidity / Balance sheet Improved recurring profitability going Overall, estimated improvement of forward driven by three factors the Group liquidity gap by EUR 20 bn Lower volatility of P&L, no more impacted by the cost of
Slide 14: Acceleration of Dexia deleveraging program
Acceleration of Dexia deleveraging program 27 May 2011 Investors and Analysts conference call Pierre Mariani, Chief Executive Officer