Dexia was born out of the 1996 alliance of the two major European players in local public finance: Crédit Local in France and Crédit Communal in Belgium. Dexia was one of the first cross-border mergers in the European banking sector, which ranks today amongst the fifteen largest banking groups of the euro zone.
Dexia services two principal markets: local authorities and similar institutions on a global scale and the retail market, mostly in Belgium and Luxembourg.
A world leader in public finance, the Group operates several subsidiaries and branches in 37 countries. Size, innovation, expertise and a long-term view are the key ingredients of Dexia’s success in this business line.
In Belgium and Luxembourg, Dexia is one of the top players in retail banking and offers retail services to several million customers. Dexia has also developed a private banking business for affluent customers in Belgium, Luxembourg, France and other European countries.
Dexia Group developed specialized activities in the field of asset management, insurance services and fund administration. Dexia Asset Management has acquired a strong renown in Europe and today distributes over one third of its products among institutions and through third party networks. Dexia Insurance Services supplies all the life and non-life insurance products sold in the retail networks of the Group. In fund services, RBC Dexia Investor Services has been formed in 2006 as a joint venture with Royal Bank of Canada and ranks amongst the ten largest custodian banks worldwide.
Dexia is also very active in capital markets, whether for refinancing and management of the Group’s balance sheet, or for the engineering of sophisticated solutions and products delivered to clients of the various business lines.
Dexia’s success lies not only in its renowned franchise and distribution skills, but also in its ability to conceive efficient products and develop innovative solutions to the financial requirements of its clients.
In 2006, Dexia acquired a 75% stake in DenizBank’s capital further enforcing the Group’s presence in emerging economies with a subsidiary bank.
Success Factors
Dexia’s perennial plan for 2005 to 2007 rests on four principal objectives supporting the model of Dexia since its creation:
To confirm Dexia’s position as a European banking group with an international vocation. Although current results essentially originate from Belgium, France, Luxembourg and North America, the unceasing geographic development gives it significant levers for future growth.
Continue a policy of innovation in the creation of products and services through its recognized expertise in different business lines.
To create value by virtue of an ambitious policy of organic growth in all business lines and only to accept investments releasing sufficient profitability.
To rest on a base of values in phase with society. Attentive to the basic developments of Dexia companies, the Group has made sustainable development and ethical values both the signature of Dexia and the touchstone of its entire strategy.
Dexia’s vision
The dynamism shown by Dexia’s commercial business lines is a root of the continuing growth of earnings, despite increased competitive pressures. As regards general costs, the effort to control them and the search for synergies within the Group will continue. The ambition is to confirm Dexia’s status as ‘predictable growth stock’.
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