Highlights
- EUR 283 million net profit in 2Q 2009, up by 13% vs. 1Q 2009. EUR 534 million net profit in 1H 2009
- All business lines are profitable in 2Q 2009
- Costs down by 7% vs. 2Q 2008
- Additional collective provisions of EUR 175 million in 2Q 2009 to face potential consequences of a future deterioration of the macro-economic environment
- Tier 1 ratio of 11.3% and core Tier 1 ratio of 10.4%
- Sale of FSA Insurance closed on July 1, 2009: significant decrease of the Group’s risk profile
- Further improvement of Group’s liquidity: 2Q 2009 marked by the re-opening of the covered bond market and renewed access to other sources of non-guaranteed funding
- Acceleration of balance sheet deleverage (EUR 5 billion bond sales in 2Q 2009 with limited P&L impact)
- Reduction of the negative AFS reserve by EUR 3.2 billion
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