Dexia misses consensus - February 23, 2011
Dexia is less than expected in 2010. The Franco-Belgian bank announced Wednesday a net profit decline of 28.4% over the period, to 723 million euros where the consensus reached by Inquiry Financial expected a decline of 16.4% to 847 million euros. The cost of risk was 641 million euros against a consensus to 619 million euros. And the net banking income amounted to 5.31 billion euros against an average wait of 5.30 billion euros.
The bank said that 2010 was marked by such additional provisions on the portfolio of financial assets it manages in extinction. "The strength of the group is confirmed, with a Tier 1 ratio to 13.1%, which enables Dexia to cope with regulatory changes underway," states, however, in a statement, Pierre Mariani, managing director of bank.
"We warned that the years 2010 and 2011 would be difficult, for its part, said Jean-Luc Dehaene, President of the Board, at a press conference, referring to the passage a" legacy quite heavy. "
The objectives for 2014 are maintained
Leaded by the weight of its fundraising activities of local authorities during the crisis, Dexia is now focusing on retail banking to balance its balance sheet payday loans guaranteed no fax. The bank announced in October of strategic objectives to 2014, indicating 60% will generate revenues in its retail banking and commercial banking in 2014, against 36% in 2007, and profit growth potential in Turkey where it is Denizbank with this.Jean-Luc Dehaene said that the group kept these objectives in the medium term.
Before that, Jean-Luc Dehaene said that his bank would step up its efforts to recover from 2012 "" normal ". "We should see all the recovery efforts of the trades, for his part pledged the bank's chief executive Pierre Mariani. The bank has largely implemented a restructuring program and asset disposal, one of the conditions imposed by the European Commission to accept its bailout by the Belgian and French.
Dexia, whose financial health is monitored by the market, entered into a liquidity agreement with the Postal Bank with whom it shares such shareholder Caisse des depots.
(With agencies)
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