The Full Wiki

Dexia: Map

Advertisements
  
  

Wikipedia article:

Map showing all locations mentioned on Wikipedia article:





Dexia ( , , ) is a Belgianmarker-Frenchmarker financial institution, also referred to as the Dexia Group, specializing in public finance. It was founded in 1996 through the merger of Crédit Communal de Belgique/Gemeentekrediet van België (founded 1860) and Crédit Local de France (founded 1987). The Dexia Group was founded as a dual-listed company, but in 1999 the Belgian entity took over the French entity to form one company. Dexia is a member of the BEL20, CAC 40, and LuxX indices. The company is headquartered in Brusselsmarker, Belgium.

The BIC code is GKCC BE BB, which mirrors the name of the old "Gemeentekrediet-Crédit Communal".

Bailout

On 30 September 2008 the Belgian, French and Luxembourg governments said they would invest €6.4bn ($9bn; £5bn) into keeping Dexia afloat. Chief Executive and Chairman Axel Miller and Pierre Richard were subsequently forced to resign. The next day the rating agency Moody's downgraded Dexia's long term debt and deposits ratings from Aa1 to Aa3, and downgraded the individual banks' strengths to C- ("adequate intrinsic financial strength") with a negative outlook.

The problems at Dexia stem in part from a multi-billion loan to troubled German bank Depfa. The Dexia board stated on 5 October 2008 that the capital addition by the governments would put it in a position in which it could deal with deteriorating market conditions, and that the credit risks associated with Hypo Real Estate and Depfa are only limited.

In February 2009 the bank announced net losses of 3.3 billion euros (approximately 4.2 billion US dollars) for 2008.

Former acquisitions



See also



References

External links




Embed code:
Advertisements






Got something to say? Make a comment.
Your name
Your email address
Message