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  • Agreement reached between Artesia (Dexia group) and Banca Lombarda - Artesia Luxembourg - Information center
    information Investor information General meeting Regulated information Contact Career HR Welcome Testimonials Home Information center Press releases Agreement reached between Artesia Dexia group and Banca Lombarda Artesia Luxembourg PRESS RELEASE Email Print Rollup Image 14 03 2002 Agreement reached between Artesia Dexia group and Banca Lombarda Artesia Luxembourg Page Content Artesia Dexia group and Banca Lombarda have reached an agreement on the sale of 100 of the shares of Artesia

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Accord-entre-Artesia-et-Banca-Lombarda-Artesia-Luxembourg-.aspx (2016-01-08)
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  • 2001 financial results - Information center
    contrary the downturn in the markets made the customers more cautious resulting in a decrease in the amount of assets under management and a slowing down in the flows of new business and corresponding commissions Naturally in this new environment the budgets for costs and capital expenditure that had been approved at the start of the year were revised downwards during the second half But this did not prevent the increase in operating expenses being higher than income in total over the year as a whole However this unfavorable trend was reversed in the 4th quarter as the revenues increased by 4 0 whilst operating expenses remained stable 0 1 The Cost Income ratio stood at 59 5 in 2001 against 55 1 in 2000 Without the impact of the changes in the scope of consolidation and the exceptional items it would have been 57 3 in 2001 against 54 7 in 2000 which reflects the underlying trend of operations in 2001 As for the overall cost income ratio its increase results from Artesia whose ratio was 79 7 The integration of this subsidiary and the synergies which are expected from it are bound to contribute to a reduction in the group s cost income ratio in order to bring it into line with the corporate objective of 50 Write downs and allowances including the cost of risk gains losses or impairments on long term investments amortization of goodwill and allocation to or write back from the General Banking Risk Reserve rose to EUR 283 million an increase of 21 5 compared to the 2000 figure EUR 233 million Several factors account for this rise The cost of risk was EUR 281 million an increase of EUR 167 million EUR 69 million of this is due to the changes in the scope of consolidation The remainder reflects the deterioration of the risks in 2001 Enron EUR 22 million Argentina EUR 6 million Sabena EUR 16 million share leasing portfolio in the Netherlands EUR 25 million In addition provision of EUR 51 million was made on one single case and covering almost the entirety of the risk of loss following a fraud identified in the debtor s accounts a hospital in Chicago Despite this heavier charge the cost of risk for Dexia has remained very low at 14 basis points of the total of customer commitments This is approximately one third of the average ratio of the banking industry Besides the net gains and recoveries on long term investments stood at EUR 13 million in 2001 against EUR 31 million in 2000 The amortization of goodwill was EUR 56 million against EUR 49 million in 2000 Finally EUR 41 million was written back from the General Banking Risk Reserve against an allocation of EUR 101 million in 2000 in the context of all the specific charges for 2001 and particularly those related to the integration of Artesia The ROE stood at 18 7 this year against 17 7 in 2000 Earnings per share at EUR 1 25 made a further and healthy progression this year of 9 1 Tier One capital ratio of the group stood at 9 3 unchanged compared to the end of 2000 By business lines the performance was uneven but taken as a whole their contribution to the group contributed to the overall resilience and allowed to withstand the unfavorable economic climate of 2001 The Public Project Finance and credit enhancement business produced a net income before minority interest of EUR 719 million up 63 1 in one year largely due to the changes in the group structure With the same structure and excluding exceptional items the business has stood up well The underlying revenues increased by 6 3 and the underlying gross operating income increased by 7 over the year It was up by 12 5 between the 3rd and 4th quarter in 2001 In addition despite the provision on the Chicago situation and the country risk provision linked to Argentina the cost of risk has remained extremely low at 11 basis points of outstanding customer commitments Over the year the net income from this line of business increased by 71 6 and by 9 9 on a like for like basis The business line achieved again a high and increasing level of profitability with a return on economic equity of 21 4 against 17 7 in 2000 In Retail financial services the year 2001 showed good resistance in the economic climate The revenues stood at EUR 1 762 million an increase of 58 1 Most of this increase was due to the arrival of Artesia On a like for like basis and without the exceptional items revenues increased by 3 2 showing a satisfactory performance as a whole considering the customers loss of appetite for investment products which make up a large part of the range distributed by the group s retail networks As a result of this commissions and other income were slightly down over the year 2 8 On the other hand the interest margin stood up well 2 9 and technical and financial margins on insurance increased by a very hefty 49 1 confirming the growing success of Dexia Insurance The underlying gross operating income for the business declined slightly over the year as a whole 4 1 due to the expenses incurred in the sector most of which are connected with the efforts at integrating Artesia But the underlying gross operating income went back to growth in the 4th quarter 5 0 more than in the 3rd quarter owing particularly to the reduction of the underlying costs 2 7 Over the year the net income for this business line increased by 38 9 and by 3 5 on a like for like basis and excluding exceptional items The return on the economic equity of the business was 12 4 for the year In the business of Investment Management Services private banking asset management fund administration and Equity related activities the net

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/R%C3%A9sultats-financiers-2001.aspx (2016-01-08)
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  • Dexia Epargne Pension enables the Dexia group to develop on the life insurance and retirement saving market in France - Information center
    on the life insurance and retirement saving market in France Page Content Dexia announces today the launching of the activities of Dexia Epargne Pension the life insurance company of the Dexia group in France The creation of this new entity allows the Dexia group to position itself on the life insurance and individual collective retirement saving booming market In terms of commercial activity Dexia Epargne Pension aims at developing in different sectors of life insurance in France among others towards the asset management sector through Dexia Banque Privée s network as life insurance is the best tax exemption and assets transmission tool for private customers towards the institutional sector through Dexia Crédit Local s network in a context of aging population Dexia Epargne Pension will offer local authorities and local actors a range of collective products allowing them to face legal or contractual commitments in terms of social liabilities French Indemnité de Fin de Carrière and pre retirement system among others and of human resources management wage savings among others In order to do so the new entity will benefit from the support of the different operational companies of the group at the production development level as well as the

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Avec-Dexia-Epargne-Pension,-le-groupe-Dexia-va-se-d%C3%A9velopper-sur-le-march%C3%A9-de-l%27assurance-vie-et-de-l%27%C3%A9pargne-retraite.aspx (2016-01-08)
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  • Dexia group activity in 2001 - Information center
    gross premiums 301 790 38 1 of which Municipal 78 267 29 2 of which ABS 223 523 42 6 PV of net premiums 191 525 36 4 of which Municipal 49 179 27 4 of which ABS 142 346 41 0 During 2001 FSA and Dexia made considerable progress in tapping the synergies between their respective businesses a total of 56 joint transactions were carried out in 2001 against 15 in 2000 both in the Municipal market 37 transactions and in the ABS market 19 transactions Since FSA joined the Dexia Group it has insured a total amount of EUR 32 2 billion of par in joint operations nearly 10 of the total amount insured by FSA and produced EUR 157 7 million premiums yielding an ROE in excess of 25 Full information about FSA s business and results in 2001 is available on the company s website fsa com Other activities in the public project finance sector Outstanding short term loans climbed 7 6 to EUR 4 4 billion at year end 2001 excluding Artesia In France drawdowns on short term facilities were 36 higher than in 2000 in Belgium the increase was 2 8 Dexia Sofaxis posted strong growth in insurance products catering to local government employees Premiums collected in 2001 went up by 52 8 to EUR 230 million including an agreement with the Caisse Nationale de Prévoyance which contributed EUR 80 million to the 2001 figures Lastly customer assets in this business line deposits and investment products excluding the EUR 4 7 billion contribution of Artesia amounted to EUR 10 5 billion EUR 624 million lower than at year end 2000 primarily as a result of a policy to scale down corporate business in Belgium 2 Retail Financial Services 2001 was marked for Dexia by the uneven performance of the various products due to the slump in the equities markets changes in the taxation of bonds in Europe and finally in the continuing marketing drive for the group s life insurance products During the year the project to set up a hub and spoke network in Belgium was completed as of January 1 2002 all Dexia Bank s branches were grouped together in 159 clusters Dexia Bank held on to its market share in the main product categories except savings bonds as a result of the Bank s policy decision to scale down its presence in this segment 27 6 market share at the end of September 2001 against 29 0 at year end 2000 Intense marketing activity was kept up across all product categories despite the involvement in the the integration process of Dexia Bank and Artesia Customer assets Total customer assets deposits savings bonds mutual funds life insurance products and Dexia bonds but excluding securities holdings amounted to EUR 79 7 billion at year end 2001 an increase of 34 7 on the year earlier figure or 0 7 at constant scope Pro forma growth including Artesia in both 2001 and 2000 was 1 6 Year on year changes in the amount of funds invested in the various products reflect both prevailing market conditions and the ongoing effects of the Group s policy to promote disintermediated products Quarter end outstandings in EUR billions Dec 00 pro forma Mar 01 June 01 Sept 01 Dec 01 Annual growth Deposits 28 0 28 3 28 6 28 4 29 2 4 5 Savings bonds 21 2 20 3 19 6 19 0 18 8 11 3 Dexia euro bonds 6 2 6 7 6 9 7 0 7 0 13 9 Artesia coop Units 1 2 1 2 1 2 1 2 1 2 2 8 Mutual funds 17 2 16 8 17 5 16 4 17 8 3 8 Life insurance 4 9 5 1 5 5 5 3 5 7 17 2 Total customer assets 78 5 78 3 79 4 77 3 79 7 1 6 Figures for Artesia are based on estimates EUR 4 1 Billion Loans At December 31 2001 retail loans including Artesia totaled EUR 20 7 billion up 45 5 on the previous year end and 8 1 at constant scope excluding Artesia Pro forma growth including Artesia in both 2001 and 2000 was 6 2 Trends during the year were mixed depending on the products Mortgage loans increased by 5 9 8 1 growth for the Dexia network and 1 5 for the Artesia network consumer loans and personal overdrafts contracted by 8 7 9 6 in the Dexia network and 5 6 in Artesia and loans to SMEs sole proprietorships and professionals climbed 13 4 15 4 growth for the Dexia network and 2 5 for the Artesia network Quarter end outstandings in EUR billions Dec 00 pro forma Mar 01 Juni 01 Sept 01 Dec 01 Annual growth Mortgage loans 11 6 11 7 11 9 12 1 12 3 5 9 Consumer loans and overdrafts 2 4 2 2 2 2 2 5 2 2 8 7 Loans to SME sole proprietorships and professionals 5 5 5 9 6 0 6 0 6 3 13 4 Total 19 5 19 8 20 1 20 6 20 7 6 2 Overall the loan book including Artesia remains largely composed of individual households business representing 70 of the total against 67 at year end 2000 before Artesia joined the Group Insurance Taking all types of retail insurance products into account premiums collected from the retail customers totaled EUR 1 927 million in 2001 an increase of 95 3 on the previous year 18 5 at constant scope The Group outperformed the market in 2001 testifying to the growth potential which exists in the Dexia Bank s customer base Out of the total EUR 147 7 million was generated by sales of products distributed by the Group and manufactured by third parties Quarterly premiums in EUR millions Q1 01 Q2 01 Q3 01 Q4 01 Total 2001 Life Dexia 356 289 203 227 1 075 Artesia 198

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Activit%C3%A9-du-groupe-Dexia-en-2001.aspx (2016-01-08)
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  • Dexiam and Cordius Asset Management merge to form Dexia Asset Management - Information center
    discretionary management for individual and institutional clients Built up around a central structure in the Grand Duchy of Luxembourg Dexiam is active internationally through its operational subsidiaries in Luxembourg Belgium France Italy Spain Switzerland Singapore and Australia Cordius Asset Management Cordius Asset Management is the asset management arm of the Artesia Banking Corporation group acquired by the Dexia group in July 2001 It specialises in implementing investment processes based on research and financial analysis and has a powerful range of traditional managed products Cordius has earned an excellent reputation in the asset management market thanks to the high quality of its asset management services Creation of Dexia Asset Management With a view to maximum exploitation of synergies by making use of the complementary contributions of the two asset management entities the operational integration of Cordius in Dexia Asset Management began as soon as Dexia acquired the Artesia group The new structure is called Dexia Asset Management and already enjoys an excellent reputation among asset management specialists The wide range of Sicavs managed by Dexia Asset Management is distributed not only via the Dexia group s own distribution networks but also via other networks in 9 European countries With an international presence a rigorous and unified investment process and its own sales teams Dexia Asset Management currently manages assets worth EUR 60 billion and its goal is to manage over EUR 72 billion by the end of 2002 Operational structure Integration has been carried out on the principle of best practice The traditional management process that has been retained is that of Cordius while the alternative management process is that of Dexiam The commercial structure results from pooling the skills of both companies although the IT system will be the one used by Dexiam At the organisational level Dexia Asset Management

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Dexiam-et-Cordius-Asset-Management-fusionnent-pour-donner-naissance-%C3%A0-Dexia-Asset-Management.aspx (2016-01-08)
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  • General Auditor named in the Dexia Group - Information center
    center Press releases General Auditor named in the Dexia Group PRESS RELEASE Email Print Rollup Image 25 01 2002 General Auditor named in the Dexia Group Page Content Alain Delouis has been named General Auditor of the Dexia Group He was previously Director of the Financial Markets Department of Dexia Crédit Local Director of the Credit Committee and a member of the Executive Committee of Dexia Crédit Local Alain Delouis 40 was trained as an engineer at the Ecole des Ponts et Chaussées and is a graduate of the Ecole Polytechnique and the Institut Supérieur des Affaires In 1987 he was named to the staff of the Prefect of the Region of Burgundy In 1989 he went to work as a technical counselor on the staff of Roger Fauroux the Minister of Industry and Local Development In 1991 he moved to Crédit Local de France where he was first employed in the Commitments Department He was successively Regional Director for Languedoc Roussillon Director of Crédit Local de France s regional network and commercial services Director of Commitments and Director of Internal Control When the Dexia group was created he became Dexia s Risk Manager a position he occupied until July

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Nomination-au-sein-du-groupe-Dexia-06.aspx (2016-01-08)
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  • Successful second Dexia Group employee shareholding plan - Information center
    s 2001 Shareholding Plan reserved for its workforce has just closed having been successful and constitutes another step toward a real employee shareholding establishing the culture for the group In total 6 out of 10 employees have subscribed to Dexia shares More specifically in Belgium the Plan received a large membership from Artesia as well as from Dexia Bank with 68 and 62 respectively of employee subscribers Internationally outside Belgium France and Luxembourg the rate of membership has increased by more than 50 from one year to another In France the membership rate remains high at 72 These participation rates demonstrate the strengthening of the employees feeling of belonging to a Group socially united around a main holding company Dexia SA since the end of November 1999 Nearly EUR 170 M was raised an increase of 32 in relation to the 2000 Shareholding Plan which represents 1 of the capital Employees now hold 2 5 of Dexia SA s capital As a reminder the group has itself an objective of 5 of capital to be held by the workforce by 2005 The amounts subscribed are all the more significant since the subscription period began on September 20 2001 in a

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Succ%C3%A8s-pour-le-2%C3%A9me-plan-d%27actionnariat-r%C3%A9serv%C3%A9-aux-collaborateurs-du-groupe-Dexia-.aspx (2016-01-08)
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  • Dexia will only intervene on the Euronext Brussels stock exchange - Information center
    center Press releases Dexia will only intervene on the Euronext Brussels stock exchange PRESS RELEASE Email Print Rollup Image 11 01 2002 Dexia will only intervene on the Euronext Brussels stock exchange Page Content Pursuant to a request of the Commission des Opérations de Bourse Paris for complementary information to the press release of January 9 2002 DEXIA indicates that the company will only intervene on the Euronext Brussels stock

    Original URL path: http://www.dexia.com/EN/journalist/press_releases/Pages/Dexia-interviendra-seulement-sur-le-march%C3%A9-Euronext.aspx (2016-01-08)
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