archive-com.com » COM » D » DEXIA.COM

Total: 716

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".
  • Measures undertaken at Dexia Bank Nederland. Financial impacts and guidance on the 3rd quarter and full year 2002 results - Information center
    an additional banking license will be introduced at the Dutch Central Bank Management As announced last month Mr J Krant chairman of DBnl will leave the organization as of December 1st 2002 From that date the Executive Board of DBnl will be chaired by Mr Dirk Bruneel member of the Executive Committee of Dexia Group Dirk Bruneel will steer the reorganization announced in this press release The proposal for his appointment has been introduced at the Dutch Central Bank Equity leasing Products Marketing The Dexia group is deeply concerned about the clients of Legio and Labouchere who have been suffering from the sharp decline of the Amsterdam Stock exchange In order to preserve as much as possible the quality of the commercial relationship with its clients Dexia Bank Nederland is currently investigating the possibility of offering them the option to enter into individual modifications to their existing contracts leading to an appropriate solution Discussions are ongoing to this effect with Stichting Leaseverlies an association of defense of clients who have acquired the product In their current version the equity leasing products will no longer be distributed The scope of the products distributed by the retail unit will be significantly modified to take into account the new fiscal regime the depressed stock market and negative publicity surrounding equity leasing products Only equity leasing products with long duration a broad equity base and loan redemption payments will be sold In addition Dexia Bank Nederland will focus on introducing new retail financial products in the Dutch market such as Safe Invest VIP Invest and other structured products which are already available within the group Distribution will be primarily through the indirect channels Streamlining the organization by transferring the custodian activities within the group and drastically reducing the cost base Dexia Securities Services the former CDC Labouchere which operates in the custody business will be transferred to Dexia BIL and become part of Dexia Fund Services 35 full time employees are involved in this transfer As a consequence of the refocusing plan both in retail and other businesses together the two new units will be much smaller than the current DBnl On top of the transfers to other parts of the group there will be a personnel reduction of another 110 170 full time employees This reduction should be implemented early next year The intended plan of the reorganization and of the cost reductions has been submitted to the workers council Financial Impacts The change of commercial horizon and the planned reorganization have led the group to re examine the value of its assets in the Netherlands and to consider their impairment Such impairment would however have no consequences on the consolidated shareholders equity and results as the goodwill on Bank Labouchere and Kempen Co was written off at the time of the acquisition of these two companies The impairment would only impact the equity accounts and taxable income of the shareholding entities Dexia also considers setting aside a provision corresponding to the estimation

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Mesures-engag%C3%A9es-chez-Dexia-Bank-Nederland.aspx (2016-01-08)
    Open archived version from archive


  • The chairman of the Management Board of Dexia Bank Nederland will step down as at 1 December 2002 - Information center
    Information center Press releases Financial results Publications Dexia from A to Z Video library Contact Shareholder Investor Dexia in short Financial results and reports Shareholder information Investor information General meeting Regulated information Contact Career HR Welcome Testimonials Home Information center Press releases The chairman of the Management Board of Dexia Bank Nederland will step down as at 1 December 2002 PRESS RELEASE Email Print Rollup Image 30 09 2002 The chairman of the Management Board of Dexia Bank Nederland will step down as at 1 December 2002 Page Content Joseph Krant 54 has expressed his wish to step down around his 55 th anniversary in order to devote more time to other activities and interests In agreement with the Executive Committee of Dexia Group he will step down as Chairman of the Management Board of Dexia Bank Nederland as at 1 December 2002 The composition of the new Management Board will be announced after all the necessary approvals will have been obtained In parallel the Dexia Group and Dexia Bank Nederland will make public their vision about the future and the strategy of their activities in The Netherlands during the course of the month of October Share this article About

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Le-pr%C3%A9sident-du-Comit%C3%A9-de-direction-de-Dexia-Bank-Nederland-quittera-ses-fonctions-le-1er-d%C3%A9cembre-2002.aspx (2016-01-08)
    Open archived version from archive

  • Activity and Results as of June 30, 2002 - Information center
    Municipal Asset Backed Securities and International In the Municipal segment which constitutes FSA s largest share of business and where FSA remains the leader with a market share of 29 originations of gross present value of premiums amounted to USD 150 5 million for the 1st half year EUR 74 9 million for just the second quarter a growth of more than 22 as compared to the first six months of 2001 In the ABS Asset Backed Securities segment in the U S FSA also had a strong performance despite a hardening of its underwriting criteria in the CDO Collateralized Debt Obligations business Thus during the first half year of 2002 FSA produced USD 139 5 million of gross present value of premiums USD 63 6 million for the second quarter a growth of 18 as compared to the 1st half year of the preceding year Finally international business operations were especially dynamic with gross present value of premiums increasing by 70 over the first half to USD 84 7 million USD 61 4 million in the second quarter alone Business was strong both in the area of project finance FSA among other has guaranteed two toll highways including one in France and in the area of local government issues guarantee of a bond issue amounting to EUR 227 million for the City of Valencia in Spain The synergies between FSA and the other companies of the Dexia Group continue to develop with 30 new joint transactions structured during the first half year 56 for the full year 2001 for an amount of gross present value of premiums of USD 57 4 million USD 100 8 million for the whole of 2001 In line with all this very strong business activity the segment s results held up very well The underlying gross operating income for the 2nd quarter 2002 is back at the record level of the 2nd quarter of 2001 The cost income ratio improved standing at 34 1 one of the lowest levels reached during last six quarters Net income for the 2nd quarter showed a decline 10 8 essentially due to the general provision charge at FSA see above Despite this charge return on economic equity for the segment remained very high at 21 3 2 If the goodwill relating to the public tender offer for Dexia BIL shares in 1999 the acquisitions of FSA and Labouchere in 2000 and Artesia BC Kempen Co and Groupe Financière Opale in 2001 were included in among assets in the balance sheet and depreciated over 20 years the Return on Equity ROE would have been 9 9 during the 1st half year of 2002 and 11 4 for the 1st half year of 2001 3 Excluding Germany and companies accounted for by the equity method 4 Excluding Artesia BC production estimated at EUR 260 million 5 Off balance sheet of Artesia BC not included but estimated at EUR 3 3 billion Public Finance excluding extraordinary and nonrecurring items Q1 01 through Q1 02 proforma EUR Millions Q1 2001 Q2 2001 Q3 2001 Q4 2001 Q1 2002 Q2 2002 Revenues 401 463 417 461 457 463 Costs 157 158 162 170 168 158 Gross Operating Income 244 305 256 290 289 304 Cost of Risk 26 71 43 43 14 43 Net Income 140 154 141 189 195 174 Cost Income Rati 39 2 34 1 38 8 36 9 36 8 34 1 ROEE 18 1 20 3 19 3 23 9 23 6 21 3 return on economic equity annualized Retail Financial Services continued to feel the effects of a weak economic and market environment characterized by interest rates remaining at very low levels and providing very little room for improvement of margins on passbook savings and savings bonds unfavorable market valuations bearing on the mutual funds and unit linked life insurance business weak customer appetite for products generating commission income a particularly difficult competitive environment in guaranteed yield insurance products branch 21 Nevertheless thanks to the dynamism of its networks Dexia Bank managed to maintain outstandings of its customers assets at an approximately stable level i e at EUR 80 1 Billion a slight decline of 0 6 as compared to 31 March 2002 Outstanding loans to clients grew by 2 1 during the quarter reaching EUR 21 5 Billion Under these unfavorable circumstances underlying revenues of the segment nevertheless staged a real comeback compared to their level in the 1st quarter of 2002 The successful gathering of deposits offering higher margins largely made it possible to offset significantly the negative effects of low rates In addition the changes made during the 2nd quarter in asset liability management related to passbook savings began to show the favorable results that were expected Commissions and other revenues on the other hand remained under pressure with a decline of 6 1 for the quarter Analysed on a six month basis commissions which amounted to EUR 190 Million in the 1st half year of 2002 declined by 10 8 compared to those of the 1st half 2001 which was a much better environment But compared to commissions for the 2nd half year of 2001 EUR 180 Million much more comparable in terms of business environment they grew by 5 6 Revenues from Technical and Financial Margins from Insurance Operations showed strong growth during the quarter 72 7 They resulted among other things from the improvement in the claims premiums ratio in general risks insurance and the strong performance of certain traditional life insurance products Costs excluding extraordinary items were steady for the quarter The cost synergies generated by the integration of Artesia already significant overall have had up to now little effect on the second business segment while they were very significant in other business lines Capital Markets and Treasury Activities among others The gross operating income for the 2nd quarter improved by 74 as compared to the previous quarter and amounted to EUR 87 million thus returning to the level of

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Activit%C3%A9-et-R%C3%A9sultats-au-30-juin-2002.aspx (2016-01-08)
    Open archived version from archive

  • Dexia Banque Internationale à Luxembourg named "Bank of the Year 2002 in Luxembourg" - Information center
    library Contact Shareholder Investor Dexia in short Financial results and reports Shareholder information Investor information General meeting Regulated information Contact Career HR Welcome Testimonials Home Information center Press releases Dexia Banque Internationale à Luxembourg named Bank of the Year 2002 in Luxembourg PRESS RELEASE Email Print Rollup Image 04 09 2002 Dexia Banque Internationale à Luxembourg named Bank of the Year 2002 in Luxembourg Page Content The UK specialist magazine The Banker has just awarded the title of Bank of the Year 2002 in Luxembourg to Dexia Banque Internationale à Luxembourg Dexia BIL The Banker is published by the Financial Times group and covers the whole of the banking industry Each year the magazine s financial analysts examine the banks in 145 countries in order to identify the best bank in each country The criteria are based not only on the banks balance sheet data and results but also on growth and profitability indicators their adoption of new technologies specific achievements in the past year and their overall strategy Dexia BIL already received the accolade of Best Bank in Luxembourg from The Banker in 2000 and its nomination again in 2002 substantiates the success of the bank s long term

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Dexia-Banque-Internationale-%C3%A0-Luxembourg-nomm%C3%A9e-Bank-of-the-Year-2002-in-Luxembourg.aspx (2016-01-08)
    Open archived version from archive

  • Preliminary information on Dexia results in the second quarter 2002 - Information center
    797 2 0 Gross Operating Income 629 538 17 8 Net Income 387 398 3 15 The allowances to the general and case reserves of FSA are part of the Cost of Risk They were previously included as a negative element of the Revenue line This change has been introduced to treat FSA s risk data in a homogenous way with the Dexia banking activities 1st quarter data were restated accordingly Revenues progression confirms the group s strong resistance to a generally unfavourable business environment In particular the crisis affecting the insurance business has a very limited impact on Dexia revenues as this activity excluding FSA represents only 7 of the total revenue Following a sizeable reduction in the 1st quarter the general operating expenses did not increase in the 2nd quarter For the whole year 2002 the cost base should be less than in 2001 The Gross Operating Income has therefore grown by a strong 17 8 underlying quarter to quarter and the Cost Income ratio improved from 59 7 to 56 4 The cost of risk stood at EUR 80 million against EUR 31 million in the 1st quarter This increase is due to 2 main factors The deterioration of corporate credit quality particularly in the USA has caused FSA to review its portfolio of risks related thereto and to increase as indicated during Dexia Investor Day on June 21st 2002 by EUR 39 million its general reserve covering potential losses in its portfolio of insured collateralised debt obligations CDO s The important decline of prices of stocks listed on Euronext Amsterdam has caused Dexia Bank Nederland to write EUR 32 million additional provisions related to the share leasing activity Nevertheless the cost of risk in the Dexia group stays very low in the banking activities the cost

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Information-pr%C3%A9liminaire-sur-les-r%C3%A9sultats-estim%C3%A9s-du-groupe-DEXIA-pour-le-2%C3%A8me-trimestre-2002.aspx (2016-01-08)
    Open archived version from archive

  • An integrated insurance activity within the Dexia group - Information center
    integrated insurance activity within the Dexia group Page Content A new step was made in the integration of Artesia Banking Corporation and of Dexia Bank Belgium through the implementation of a single insurance activity within the Dexia group both entities AP Assurances and Dexia Insurance will be placed from now on under the responsability of a single Management Committee chaired by Guy Roelandt Dexia aims indeed at becoming a major bancinsurance player in Belgium Guy Roelandt will be responsible for the development of a plan to reach these objectives Guy Roelandt Guy Roelandt 50 was born and raised in Belgium He obtained a master degree in mathematics and is an actuary of the university of Louvain K U Leuven He specialized in tax management at VLEKHO and followed an AMP at the Oxford University He began his career at DVV Insurance in 1976 as an actuary in the Life Division becoming head of division in 1981 In 1984 he was appointed to the DVV Executive Committee for the divisions Life and Finances In 1993 Mr Roelandt was appointed General Director of DVV Insurance becoming Chairman of the Board and Managing Director in 1996 In 2001 he was appointed Vice Chairman

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Un-p%C3%B4le-d%27assurance-int%C3%A9gr%C3%A9-au-sein-du-groupe-Dexia.aspx (2016-01-08)
    Open archived version from archive

  • Integration of Dexia Bank/Artesia in Belgium. Finalization of the process with the signature of four collective labour agreements - Information center
    and reports Shareholder information Investor information General meeting Regulated information Contact Career HR Welcome Testimonials Home Information center Press releases Integration of Dexia Bank Artesia in Belgium Finalization of the process with the signature of four collective labour agreements PRESS RELEASE Email Print Rollup Image 03 07 2002 Integration of Dexia Bank Artesia in Belgium Finalization of the process with the signature of four collective labour agreements Page Content On 3rd July the management and all trade unions signed four new collective labour agreements relating to geographic mobility resettlement labour guarantees and social plan These agreements globally come within the scope of the framework agreement signed on 26 March 2002 The first step in this process was the signature of the collective labour agreement relating to the network of employees on 23 May 2002 The signature of the four agreements finalizes the process and the agreements between labour and management This is a major step towards the integration of Dexia Bank and Artesia as it establishes the social framework of the new company These agreements result from a constructive dialogue between the management and all trade unions with a view to realizing the economic project on a fair and human

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Int%C3%A9gration-Dexia-Banque-Artesia-en-Belgique.aspx (2016-01-08)
    Open archived version from archive

  • Dexia presents its strategic 5-year plan for 2002-2006 - Information center
    year and because the period is marked by an unfavourable stock market climate During this period of integration Dexia will make a point to finding the best balance between the implementation of an effective organisation and the maximum mobilisation of its commercial teams Dexia s capacity to generate equity enables it to implement a policy of share buy backs and as opportunities arise to proceed with acquisitions if they can further strengthen its business lines and increase their profitability The strategic plan for 2002 2006 therefore confirms that Dexia will continue its march towards the targets set for the entire group and for each of its business lines I The main strategies reaffirmed Dexia wishes to hold wherever possible a leading position Dexia wants to keep a balanced distribution in its portfolio of activities both geographically and operationally which will guarantee a good balance of income and its continued growth even in the case of temporary down trends For this purpose being a European Bank rather than a national one is one of the major assets of the Dexia Group Dexia has a very low risk profile Dexia carries out activities with a long term horizon Dexia intends to continue its profitable growth all growth initiatives must create value II Undertakings have been met Since the creation of the group in 1996 Earnings per share have grown continuously and very significantly over 13 years and the dividend paid has also been showing constant growth The operational basis of the group has been extended especially in 2000 and 2001 The three strategic business lines have been developed very significantly both by organic growth and acquisitions Public Finance has tripled its income in 4 years Investment Management Services have multiplied their earnings five times Retail Financial Services have grown less quickly hence the strategic importance of the acquisition of Artesia for the future of this business line The objectives fixed in 1996 for 2001 have been achieved in full Dexia now belongs to the league of major players in European banking Dexia operates as a group with a well balanced portfolio of activities Dexia is the world leader in Public Project Finance and is in a leading position in each of its businesses Dexia has created value for its shareholders The operating base built over the last few years is now an excellent springboard for Dexia s growth in future years III Ambitions are both simple and bold The growth in earnings per share is at the heart of the 5 year strategic plan The group intends 1 to cultivate its areas of excellence in its markets which are very deep 2 to focus on certain types of services clients and geographical markets 3 to improve its productivity 4 to maintain its low risk profile IV A dynamic development in the three strategic business lines 1 Public Project Finance and Credit Enhancement The medium term strategic objective is definitively to consolidate the worldwide leadership of Dexia in this field with priority being

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Dexia-pr%C3%A9sente-son-plan-strat%C3%A9gique-%C3%A0-5-ans-2002-2006.aspx (2016-01-08)
    Open archived version from archive



  •