2Q & 1H 2010 Results

Net profit of EUR 248 million in 2Q 2010 

Deleverage and liquidity: acceleration and notable progress 




Net profit of EUR 248 million in 2Q 2010

  • Confirmed commercial dynamic of retail and commercial banking activities
  • Further decrease in cost of risk supported by core businesses* (10 bps versus 13 bps in 1Q 2010) and Legacy Division (EUR -88 million)

    Improved liquidity situation enabling full exit of the State guarantee by the end of June 2010 

  • Deleverage remaining a high priority: EUR 20.3 billion asset sales as at 2 August 2010
  • Execution of the wholesale long-term funding programme ahead of 2010 annual target: EUR 37.9 billion raised as at 23 July 2010
  • Short-term funding need reduced by EUR 22 billion in 1H 2010

    Strong solvency ratios 

  • Tier 1 ratio at 12.2% and Core Tier 1 ratio at 11.3%
  • Resilience to adverse macro-economic scenarios highlighted by CEBS stress test 

    * Retail and Commercial Banking (RCB), Public and Wholesale Banking (PWB) and Asset Management and Services (AMS

    Press release
    (PDF 93 Kb)