Dexia is a 99.59% State-owned Belgian-French banking institution managed in orderly resolution, as approved by the European Commission on 28 December 2012.

Dexia’s mission is to manage its residual assets in run off while protecting the interests of its shareholders and guarantors.
The Group’s parent company, Dexia SA, is a public limited company and a financial holding governed by Belgian law. As a significant bank for the Eurozone financial system, it is placed since 04 November 2014 under the direct supervision of the European Central Bank, with the support of the National Bank of Belgium.
Dexia Crédit Local is the Group’s main operational entity and issuer. Disposing of a banking license, this entity based in France, falls under the direct supervision of the European Central Bank, with the support of the French banking supervisory authority (ACPR).
Historically a leader in public finance providing banking and other financial services to governments and local authorities in nearly 30 countries around the world, the acute liquidity crisis forced Dexia to launch a restructuring process at the end of 2008. This restructuring plan, implemented with State aid, aimed at refocusing the Group on its core activities, reducing its risk profile and enhancing its balance sheet structure.
Despite significant progress made in reducing the financial imbalances, the European sovereign debt crisis in 2011 had a major impact on Dexia SA. To avoid the systemic risk of a disorderly liquidation of the Group, an “orderly resolution plan” was implemented with State support in October 2011.

Orderly resolution plan
The orderly resolution plan, approved by the European Commission on 28 December 2012, calls for the disposal of the saleable commercial franchises and the management in run-off of the residual assets.

To allow for the orderly resolution of Dexia SA, State support has been provided to the Group via a capital increase of Dexia SA of EUR 5.5 billion subscribed by the Belgian and French States who hold resp. 52.78% and 46.81%) States and via a liquidity State guarantee of EUR 85 billion granted by the States of Belgium, France and Luxembourg.

Key milestones in the orderly resolution
Autumn 2011:
- Impact of the sovereign debt crisis and rating downgrade leading to the introduction of the orderly resolution – sale of Dexia Bank Belgium (now Belfius Bank and Insurance) to the Belgian State
- Sale of RBC Dexia Investor Services, DenizBank, Banque Internationale à Luxembourg
- Ratification of the orderly resolution plan by the European Commission (28/12/2012)
- Capital increase of Dexia SA subscribed by the Belgian and French States (31/12/2012)
- Liquidity State guarantee granted by the Belgian, French and Luxembourg States (24/01/2013)
- Sale of Société de Financement Local (parent entity of Caisse Française de Financement Local, formerly known as Dexia Municipal Agency) as part of the creation of a French new local public sector financing scheme in France
- Sale of, Dexia Kommunalkredit Bank Polska, Dexia Bail, Public LLD, Sofaxis, Domiserve,   Associated  Dexia Technology Services, amongst others
- Signing of an agreement regarding the sale of Dexia Asset Management
- Launch of the “Company Project” to adapt the operating model to the evolving size of the balance sheet
- Sale of Dexia Asset Management and the participation of 40% in Popular Banca Privada
- Redemption of the remaining guaranteed debt subscribed by Belfius and guaranteed bank bonds used within the framework of the special own-use mechanism approved by the ECB
- Simplification of the Group structure and launch of significant projects to optimise the operating model
- Further reduction of asset portfolios
Governance and Organisation
Dexia has simplified and unified the governance of Dexia SA and Dexia Crédit Local in line with the new Group scope. The new Board’s composition reflects the shareholders’ structure of the group.
At an operational level, the Group has streamlined its organisation around two business lines, in accordance with its mission:
- an “Assets business line” which manages the run-off of the Group’s assets during the wind-down period while protecting and enhancing their value;
- a “Funding & Markets business line” which secures the Group’s liquidity at all times by ensuring and optimising funding.
Support lines include Risk, Finance, General Secretariat, Operations and Information systems, Communication and Brand, Human Resources and Transformation.
Asset portfolio

Dexia has an exposure of EUR 156.9 billion (EAD
1 as at 30 June 2017). The fall associated with natural portfolio amortisation and asset disposals was accentuated by a favourable exchange effect as well an increase in the fair value of assets, in view of the tightening of credit spreads. As at 30 June 2017, exposures remained predominantly concentrated on the local public sector and sovereigns (72%), considering Dexia's historic activity. The sovereign portfolio posted a rise of 18% in view of the increase of deposits with the Federal Reserve (FED) and the Bank of France. Furthermore, exposure to financial institutions amounted to EUR 17.6 billion, principally consisting of "repos" and real estate bonds.
The average quality of teh Dexia credit portfolio remained high, with 91% rated investment grade as at 30 June 2017.
For further information, please download the H1 2017 - Half-yearly Financial Report.   
(1) Dexia credit risk exposure is expressed as Exposure at default (EAD). It corresponds to the best estimate of exposure to credit risk in the event of default by the debtor.