kids encyclopedia robot

Dexia facts for kids

Kids Encyclopedia Facts
Quick facts for kids
Dexia N.V./S.A.
state-owned enterprise
Traded as Euronext:DEXB
LuxSE:DXB
Industry Financial services
Founded 1996; 25 years ago (1996)
Headquarters
Area served
Worldwide
Key people
Robert de Metz (Chairman, board of directors), Karel De Boeck (Managing Director, President of Executive Committee)
Products Public sector banking, commercial banking, private banking, insurance
Decrease € minus 462 million (2017)
Total assets Decrease €180,938 million (end 2017)
Total equity Increase €4,992 million (end 2017)
Owner
  • Belgian Federal State (52.78%)
  • French State (46.81%)
  • others (0.41%)
Subsidiaries
  • Crediop (70%)
Capital ratio Increase 19.5% (CET1, end 2017)

Dexia N.V./S.A., also referred to as the Dexia Group, was a Franco-Belgian financial institution active in public finance, providing retail and commercial banking services to individuals and SMEs, asset management, and insurance; with headquarters in Saint-Josse-ten-Noode, Brussels. The company had about 35,200 members of staff and a core shareholders' equity of €19.2 billion, as of 31 December 2010, and provided governments and local public finance operators with banking and other financial services. Asset Management and Services provided asset management, investor and insurance services, in particular to clients of the two other business lines.

In 2008, the bank received taxpayer bailouts for €6 billion, and it became the first big casualty of the 2011 European sovereign debt crisis. Due to big losses, suffered among others from the debt haircut on Greek government bonds, an orderly resolution process began in October 2011. As part of the resolution, Dexia Bank Belgium was bought out from the Dexia group by the Belgian state, and will continue to exist under its new name Belfius. The remaining part of the Dexia group was left in a "bad bank", and will either be sold or wound down.

kids search engine
Dexia Facts for Kids. Kiddle Encyclopedia.