Dexia facts for kids
| state-owned enterprise | |
| Traded as | Euronext:DEXB LuxSE:DXB |
| Industry | Financial services |
| Founded | 1996 |
| Headquarters |
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|
Area served
|
Worldwide |
|
Key people
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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 |
 € minus 462 million (2017) |
|
| Total assets | €180,938 million (end 2017) |
| Total equity |  €4,992 million (end 2017) |
| Owner |
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| Subsidiaries |
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| Capital ratio | 19.5% (CET1, end 2017) |
Dexia N.V./S.A., also known as the Dexia Group, was a big financial company. It had its main offices in Brussels, Belgium. Dexia offered many types of money services to people, businesses, and governments around the world.
The company helped governments and local public groups with their money needs. It also offered banking services to everyday people and small to medium-sized businesses. Dexia also managed money for others and provided insurance.
Contents
Dexia's Start and Services
Dexia was created in 1996. It grew into a major player in the world of finance. At its peak, it had many employees and a lot of money from its owners.
What is Public Finance?
Public finance is about how governments and public organizations manage their money. Dexia helped these groups with loans and other financial tools. This allowed them to fund things like schools, hospitals, and roads.
Banking for Everyone
Dexia also offered services like retail banking. This means it provided bank accounts, loans, and credit cards to regular people. Commercial banking services were for businesses. These services helped companies manage their money, get loans, and grow.
Managing Money and Insurance
Beyond banking, Dexia helped people and companies manage their investments. This is called asset management. They also offered insurance. Insurance helps protect people and businesses from financial losses due to unexpected events.
Financial Troubles and Rescue
In 2008, Dexia faced big financial problems. It needed help from governments to avoid collapsing. This help is called a bailout. The Belgian and French governments provided billions of euros to support the bank.
The European Debt Crisis
Later, in 2011, Dexia became one of the first big companies to be severely affected by the European sovereign debt crisis. This crisis happened when some countries in Europe had trouble paying back their debts. Dexia had loaned a lot of money to these countries, especially Greece. When Greece had to reduce its debt, Dexia lost a lot of money.
Breaking Up the Bank
Because of these huge losses, a plan was put in place to deal with Dexia's problems. This plan started in October 2011. As part of this plan, the Belgian government bought the part of Dexia that operated in Belgium. This part of the company was renamed Belfius and still operates today.
The rest of the Dexia Group was put into what is sometimes called a "bad bank." This means the remaining parts of Dexia, including its risky investments, were separated. These parts were then either sold off or slowly closed down. The goal was to manage the losses and prevent further problems for the financial system.
