Annual report 2009 - Dexia.com

Notes to the consolidated fi nancial statementsBankingCompanies31/12/08 31/12/09Other TOTAL Banking FSA-FP OtherinsuranceCompanies(1)insuranceactivitiesactivities(2)(2)FSA (1)TOTALManagement reportConsolidatedfinancial statementsAnnual financial statementsInterest margin 5,230 224 619 6,073 4,369 1 660 5,030Dividend income 59 1 111 171 59 1 54 114Net income from associates (1) 0 0 (1) 36 0 3 39Net income from financial instrumentsat fair value through profit or loss (493) (119) (2) (614) (258) 343 (24) 61Net income on investments (898) (1,910) (707) (3,515) 282 (129) (130) 23Net fees and commissions 1,402 (4) 33 1,431 1,208 (2) 22 1,228Premiums and technical incomefrom insurance activities 4 459 4,114 4,577 4 28 2,678 2,710Technical expense from insurance activities 1 (120) (4,394) (4,513) (15) (3) (3,041) (3,059)Other net income (71) 17 1 (53) 23 (5) (1) 17INCOME 5,233 (1,452) (225) 3,556 5,708 234 221 6,163Staff expense (1,890) (26) (105) (2,021) (1,720) (20) (107) (1,847)General and administrative expense (1,221) (85) (84) (1,390) (1,015) (16) (58) (1,089)Network costs (309) 0 (61) (370) (306) 0 (60) (366)Depreciation & amortization (285) (2) (9) (296) (275) (1) (22) (298)Deferred acquisition costs 0 (42) 0 (42) 0 (7) 0 (7)EXPENSES (3,705) (155) (259) (4,119) (3,316) (44) (247) (3,607)GROSS OPERATING INCOME 1,528 (1,607) (484) (563) 2,392 190 (26) 2,556Impairment on loans and provisionsfor credit commitments (1,589) (1,703) 0 (3,292) (577) (503) (16) (1,096)Impairment on tangible and intangibleassets (10) 0 0 (10) (51) 0 0 (51)Impairment on goodwill (5) (7) 0 (12) (6) 0 0 (6)NET INCOME BEFORE TAX (76) (3,317) (484) (3,877) 1,758 (313) (42) 1,403Tax expense 40 532 57 629 (404) 58 32 (314)NET INCOME (36) (2,785) (427) (3,248) 1,354 (255) (10) 1,089Attributable to minority interest 96 (18) 0 78 79 0 0 79Attributable to equity holdersof the parent (132) (2,767) (427) (3,326) 1,275 (255) (10) 1,010(1) As at 31 December 2008, the column includes the full group FSA while as at 31 December 2009, the FSA column includes 3-months results of the sold activities on a line by linebasis, but offset in Net income on investments and full year results of Financial Products activities.(2) Dexia Insurance Belgium Group and DenizEmeklilik ve Hayat AS.The contribution to the financial statements is presented under IFRS after elimination of intercompany balances and transactions, and thereforedoes not correspond to the published financial statements of DIB, published under Belgian GAAP.Additional information174Dexia Annual report 2009