Dexia was born out of the 1996 alliance of the two major European players in local public finance: Crédit Communal de Belgique and Crédit Local de France. These two entities merged with Banque Internationale à Luxembourg (BIL) in 1999 and all the three formed the publicly listed Dexia Group.
World leader in financing public works and local authorities, Dexia provides services for various customer segments from retail to SME and corporate. Being an extremely active player in asset management, insurance, investor services and capital markets with every passing year, Dexia extends its retail services to more than 6 million clients in Belgium, Luxembourg, Slovakia and Turkey.
With its 33.321 employees present in 33 countries as of 2006, Dexia offers a wide range of products from structured loans to debt management to its clients in order to enable them to use their debt portfolio to the best extent.
In the field of public finance Dexia operates through mainly Dexia Crédit Local and its branches, and subsidiaries spread in 33 countries all over the world. Main subsidiaries of Dexia are located in France, Belgium, Italy, Northern America and Mexico, Germany, Spain, United Kingdom, Scandinavia, Switzerland, Austria, Slovakia, Poland, Rumania, Czech Republic, Australia, Israel, Bulgaria, Hungary, Turkey and Japan. In these countries, Dexia’s services range from basic loan granting to bond management, structured project finance and credit enhancement.
Dexia gives priority to basic infrastructure projects (transport, environment etc.) and renewable energy sector, and also finances corporate borrowers. Thanks to its AAA rated subsidiary in the USA, Financial Security Assurance, Dexia insures both asset-backed securities (USA) and municipal bonds and infrastructure contracts.
Dexia in 2007
Besides its strong network and presence, Dexia develops tailor-made, efficient products and innovative solutions to its clients and undersigns remarkable financial success in the first half of 2007.
Closing the year 2006 with an excellent performance, Dexia had a net income of EUR 1.5 bn in the first half of 2007, an increase of 11.5% compared to the same period of the previous year. Earning per share, which was EUR 1.24 in the first half of 2006 increased by 4.1% to reach EUR 1.30 in the first half of 2007.
Increasing its volume in Public & Project Finance and Credit Enhancement, for which it is the world leader by 15% in the first half of 2007, Dexia grew its customer assets in Personal Financial Services by 8.5%.
The Group increased its Asset Management income by 32.4% to EUR 30 mn, and obtained a net income of EUR 29 mn with a growth of 19.9% in the field of Investor Services. Reaching a growth of 9.2% and net income of EUR 77 mn in Treasury and Financial Markets, Dexia has made it clear through its first half results that it will succeed in hitting 2007 year-end targets.