Regulated Information - Brussels, Paris, 1 March 2018 - 07:30 am
Dexia Group consolidated results 2017
15% reduction of the balance sheet total, through dynamic management and the positive evolution of the macroeconomic environment
- Balance sheet total of EUR 180.9 billion as at 31 December 2017, down
EUR -31.8 billion over the year, of which EUR -11 billion resulted from active balance sheet management - Total Capital Ratio at 20.4% as at 31 December 2017, compared to 16.8% as at 31 December 2016, benefiting in particular from the reduction of the asset portfolio, targeting heavily weighted assets
- Optimisation of the funding mix and the issue calendar, enabling funding costs to be reduced
Net income Group share of EUR -462 million in 2017
- Significant weight of taxes and regulatory contributions, in an amount of EUR -89 million over the year 2017
- Positive impact of the cost of risk, at EUR +33 million, resulting in particular from reversals of provisions on assets disposed of, despite an increase of provisioning on the residual exposure to Puerto Rico
- Negative contribution of accounting volatility elements (EUR -64 million) and non-recurring elements (EUR -96 million)
Implementation of the plan to convert preference shares
- Conversion into ordinary shares of preference shares issued on 31 December 2012 and held by the Belgian and French States
Adaptation of the operating model to the specific situation of a group in resolution
- Choice of outsourcing to strengthen the operating model: signature of an agreement to outsource IT and back office activities in France and Belgium with the service company Cognizant
