Dexia Group consolidated results for 2017
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 managementTotal 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
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Source: Dexia via GlobeNewswire
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