1Q 2009 Results Release

Net profit of EUR 251 million in 1Q 2009
Tier 1 ratio of 10.7% and core Tier 1 of 9.8%

  • 1Q 2009 net profit amounted to EUR 251 million compared to EUR 289 million in
    1Q 2008 and a net loss of EUR 2,603 million in 4Q 2008
  • Impact of the crisis on Dexia's net income was EUR -419 million, including
    EUR 201 million impairments and losses on insurance investment portfolios
  • Core businesses Public and Wholesale Banking (PWB) and Retail and
    Commercial Banking (RCB) proved resilient and profitable with respective
    contributions to Group net income of EUR 198 million and EUR 156 million
  • Costs decreased by 6% compared to 1Q 2008 and excluding FSA Insurance
  • Quality of the Group's asset base is confirmed. The cost of risk remains
    moderate, in PWB (3 bp) like in RCB (52 bp)
  • The closing of the sale of FSA is expected by the end of June
  • Group's liquidity situation continues to improve, notably thanks to healthy
    long-term issuance volumes
  • High solvency ratios, with a Tier 1 of 10.7% and a core Tier 1 of 9.8%


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