The European Banking Authority published today the estimate capital need of 70 European banks. A capital shortfall of EUR 3.9 billion has been identified for the Dexia Group.
This is a figure based on June data which does not reflect the current situation of the Group given the profound restructuring process that has been launched in October 2011 (see communications dated 10 and 20 October 2011) as stated by the European Banking Authority.
The closing of the sale of Dexia Bank Belgium took place on 20 October 2011, for a total consideration of EUR 4 billion. Using the European Banking Authority methodology, this disposal reduces the capital shortfall of the Dexia Group by EUR 2.2 billion at EUR 1.7 billion.
Dexia will update the market on a regular basis on the various disposals that should occur in the near future and globally improve the Group's capital position.
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