OREANDA-NEWS. Karel De Boeck, CEO of Dexia SA, declared: “Dexia posted a net income Group share of EUR -55 million in 1Q 2016, marked by the weight of contributions and levies, which represents more than half of the costs booked over the quarter. Cost of risk was limited at 2.1 basis points for the quarter and 3.2 basis points over 12 sliding months.”

Robert de Metz, chairman of the Board of Directors of Dexia SA, declared: “The increase in the Group’s balance sheet total observed this quarter, illustrates Dexia’s sensitivity to the evolution of its financial environment. Nevertheless, the Group continues its efforts to reduce its asset portfolios, down EUR 3.8 billion over the quarter.”

Net income Group share of EUR -55 million in Q1 2016
  Recurring net income of EUR -90 million marked by the weight of contributions and levies (EUR -72 million), applying the IFRIC 21 accounting standard
 Negative contribution from accounting volatility elements (EUR -14 million)
 EUR 48 million associated with non-recurring elements

Total balance sheet at EUR 237.5 billion, up EUR 7.3 billion over the quarter
 EUR 3.8 billion reduction of asset portfolios
 Increase of the level of cash collateral posted by EUR 2.9 billion and fair value elements by EUR 6.3 billion, under the effect of evolving interest rates

Common Equity Tier 1 ratio of Dexia SA at 14.6%
 Impact of the additional 20% deduction of the non-sovereign AFS reserve from regulatory capital, in line with the schedule provided by CRD IV
 Relative stability of risk-weighted assets at EUR 51.5 billion as at 31 March 2016