Annual report 2006 - Dexia.com

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HUMAN RESOURCES HUMAN RESOURCES Dexia has clearly underlined the importance of the undertaking by offering to assign 10 secondees. Most of them as senior advisors and two of them as executive members of the Board of Directors of DenizBank. So Dexia has very rapidly started to explore DenizBank culture and local mentality. In addition to their bridging function, the secondees have a twofold mission: identifying new DenizBank business opportunities and ensuring that processes and policies are harmonized wherever it makes sense. MANAGEMENT REPORT COMPTES CONSOLIDÉS COMPTES SOCIAUX The Human Resources vision of Dexia is reflected in eight strategic axes which aim to: • reinforce the strategy and structure of Dexia; • align the HR structure on Dexia’s strategy; • install and manage one common Dexia HR model for all entities and departments; • make Dexia an “Employer of Choice” in the Financial Services Industry in Europe; • develop and deploy talents in the Group in an optimal manner and in an international context; • develop a dynamic Dexia leadership model; • align the reward package to motivate and retain talents within the Group; • position the social dialogue. The Human Resources department provides Group managers with tools and processes enabling them to optimize their HR decisions and creates the fundamentals to leverage human talents in realizing business challenges. INTEGRATING NEW ENTITIES In 2006 DenizBank became part of Dexia. This Turkish bank started more or less from scratch 9 years ago under leadership of its chairman and a couple of employees and rapidly grew to employ 6,342 people by the end of 2006. Hiring more than 1,000 employees per year, providing 4-5 training days per person, keeping the turnover below market level while dealing with a high inflation rate, in an increasingly competitive market environment has become an operational day-to-day reality for DenizBank managers as well as the 20 people in its HR department. In addition to the usual challenges DenizBank has to manage the challenge of finding the correct balance between continuing successful DenizBank HR practices on the one hand and leveraging new Dexia practices on the other hand. Following the principle that change is agreed and not imposed, a variety of projects in the sphere of Learning and Development, Talent Management and Compensation & Benefits have been jointly initiated. MEMBERS OF STAFF AT DEXIA • At the end of 2006, Dexia had 33,321 members of staff (including the joint venture RBC Dexia Investor Services and the self-employed networks of Dexia Bank Belgium and Dexia Insurance Belgium) against 24,418 in 2005, an increase in global workforce of 36.5%. • The year 2006 was marked by significant geographic expansion with the acquisition of DenizBank (6,342 members of staff as of December 31, 2006) and the setting up of the joint venture RBC Dexia Investor Services (4,411 members of staff as of December 31, 2006). In 2006, Dexia employed members of staff in 33 countries. • More than 62% of members of staff have joined the Group since less than ten years, which proves the strong development recorded since the creation of Dexia in 1996. • In 2006, the overall division of workforce between men and women was well balanced, at 51.7% and 48.3% respectively. • Group members of staff are young: in total, 42.9% are less than 35 and 58.8% less than 40 years of age. • The average age is 38.9 for men and 36.2 for women. The overall average age is 37.6. • The average length of service of Group members of staff is 10.7. • Turnover is 6.17% of workforce on indefinite-term contract. • 14.8% of Group members of staff work part time. • The average number of days of training per employee is 1.94 per annum. B GENDER BREAKDOWN A A MEN 51.74% B WOMEN 48.26% 56 | Dexia / Annual Report 2006
HUMAN RESOURCES 33,321 MEMBERS OF STAFF IN 33 COUNTRIES Belgium (1) (2) 15,270 Turkey 6,290 Luxembourg (2) 3,513 France (2) 2,639 Canada (2) 1,738 > 59 55-59 50-54 45-49 40-44 35-39 30-34 25-29 20-24 < 20 20% 15% 10% 5% 0% 5% 10% 15% 20% AGE PYRAMID ■ MEN ■ WOMEN > 40 36-40 31-35 26-30 21-25 16-20 11-15 6-10 0-5 40% 30% 20% 10% 0% 10% 20% 30% 40% Slovakia 812 United States 518 United Kingdom (2) 478 Italy (2) 302 Australia (2) 301 Netherlands (2) 254 Spain (2) 225 Switzerland (2) 220 Ireland (2) 200 Singapore (2) 125 Germany 84 China (2) 61 Russia 52 Jersey 40 Danemark 38 Israel 38 Japan 34 Poland 26 Sweden 18 Mexico 10 Czech Republic 8 Other countries 27 Total workforce as of December 31, 2006 33,321 MANAGEMENT REPORT COMPTES CONSOLIDÉS COMPTES SOCIAUX SENIORITY PYRAMID (1) Including the self-employed networks. (2) Including RBC Dexia Investor Services. ■ ■ MEN WOMEN Dexia / Annual Report 2006 | 57
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no achievement without commitment
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FINANCIAL HIGHLIGHTS 4 MESSAGE FROM
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FINANCIAL HIGHLIGHTS FINANCIAL HIGH
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GENERAL INFORMATION MANAGEMENT REPO
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GENERAL INFORMATION MANAGEMENT REPO
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CONSOLIDATED BALANCE SHEET 112 CONS
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CONSOLIDATED BALANCE SHEET ASSETS (
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CONSOLIDATED STATEMENT OF INCOME (i
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MINORITY INTERESTS Core Gains and l
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CONSOLIDATED CASH FLOW STATEMENT (i
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RAPPORT DE GESTION CONSOLIDATED FIN
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4.1.3. Currency risk 4.2. CREDIT RI
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Name Head Office % of Consolidation
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GEOGRAPHIC Eurozone (1) Rest of USA
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PORTFOLIO Number Loan Collateral Ex
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7. NOTES ON THE ASSETS OF THE CONSO
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B. Analysis of quality See note 7.1
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C. Treasury bills and other eligibl
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7.8. SECURITIES HELD TO MATURITY De
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7.10. TANGIBLE FIXED ASSETS A. Net
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7.11. INTANGIBLE ASSETS AND GOODWIL
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A. Other assets Analysis by nature
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Present value of finance lease liab
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8. NOTES ON THE LIABILITIES OF THE
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B. Analysis by maturity and interes
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Convertible non-subordinated debt D
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D. Provisions for pensions and othe
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H. Range of assumptions to determin
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9. OTHER NOTES ON THE CONSOLIDATED
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Deferred tax coming from assets of
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2. Change in profit sharing reserve
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B. Nonlife contracts B.1. Income an
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9.4. RELATED PARTIES TRANSACTIONS A
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The assets and liabilities disposed
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9.8. SHARE-BASED PAYMENTS STOCK OPT
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9.9. MINORITY INTERESTS - CORE EQUI
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Dec. 31, 2005 Dec. 31, 2006 Banking
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10. NOTES ON THE CONSOLIDATED OFF-B
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11.3. NET INCOME FROM ASSOCIATES De
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11.6. COMMISSION INCOME AND EXPENSE
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(AVERAGE FTE) France Belgium Luxemb
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11.14. IMPAIRMENT ON GOODWILL Nil.
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12. NOTES ON RISK EXPOSURE (IN MILL
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12.2. CREDIT RISKS EXPOSURE A. Anal
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12.3. INTEREST RATE REPRICING RISK:
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12.6. LIQUIDITY RISK: BREAKDOWN BY
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12.7. CURRENCY RISK As of Dec. 31,
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BALANCE SHEET 216 OFF-BALANCE SHEET
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BALANCE SHEET (before income approp
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STATEMENT OF INCOME (in thousands o
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3.2.5. Amounts receivable after mor
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4.2.6. Amounts receivable within on
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RAPPORT DE GESTION COMPTES CONSOLID
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4.6. STATEMENT OF FORMATION EXPENSE
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4.10. SHARE IN THE CAPITAL AND OTHE
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D. Commitments to issue shares Amou
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4.19. OTHER TAXES AND TAXES BORNE B
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6. SOCIAL REPORT 6.1. STATEMENT OF
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6.3. STATEMENT CONCERNING THE IMPLE
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• there have been no transactions
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DEXIA IN THE WORLD RAPPORT DE GESTI
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RAPPORT DE GESTION Kommunalkredit D
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Dexia’s Annual Report 2006 has be
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SDXI 0109-5 03-07
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Annual report 2006 - Dexia.com

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