Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
PWB in<strong>com</strong>e evolution 2009-2014<br />
PWB in<strong>com</strong>e 2009-2014E (EUR m)<br />
2009 - 2010E/2011E Average<br />
in<strong>com</strong>e evolution drivers:<br />
• Higher cost of funding<br />
impacting “refinancing price”<br />
of existing assets (following<br />
early <strong>com</strong>pliance with EC<br />
requirements)<br />
• Commercial margin, fees<br />
and other: Stable business<br />
and sale of assets<br />
2010E/2011E Average-2014E<br />
in<strong>com</strong>e evolution drivers:<br />
• Lower cost of funding,<br />
thanks to improved long-term<br />
funding mix: Deposits up,<br />
long-term senior unsecured<br />
down<br />
• Commercial margin, fees<br />
and other: Increased in<strong>com</strong>e<br />
mainly from new business<br />
initiatives<br />
63<br />
Note: Total PWB excluding Crediop and <strong>Dexia</strong> Sabadell<br />
Other includes margin on Economic Equity + other margin and in<strong>com</strong>e (including insurance)
Change language