Annual report 2009 - Dexia.com

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Notes to the consolidated fi nancial statements11.3. Net income from associatesManagement reportConsolidatedfinancial statementsAnnual financial statements31/12/08 31/12/09Income from associates before tax 31 55Share of tax (20) (15)Impairment on goodwill (1) (12) 0TOTAL (1) 39(1) Kommunalkredit Austria AG.11.4. Net income from financial instrumentsat fair value through profit and loss31/12/08 31/12/09Net trading income (1,015) (96)Net result of hedge accounting 168 (47)Net result of financial instruments designated at fair value through profit or lossand result from the related derivatives (1) (10) 70Change in own credit risk 426 (154)Forex activity and exchange differences (183) 289TOTAL (614) 61(1) Among which trading derivatives included in a fair value option strategy 576 (240)RESULT OF HEDGE ACCOUNTING31/12/08 31/12/09Fair value hedges 82 7Fair value changes of the hedged item attributable to the hedged risk 14,943 (4,760)Fair value changes of the hedging derivatives (14,861) 4,768Cash flow hedges 3 (1)Fair value changes of the hedging derivatives – ineffective portion 3 (1)Discontinuation of cash flow hedge accounting(Cash flows no longer expected to occur) 1 5Hedges of net investments in a foreign operation 0 3Fair value changes of the hedging derivatives – ineffective portion 0 3Portfolio hedge 82 (61)Fair value changes of the hedged item 3,171 (1,383)Fair value changes of the hedging derivatives (3,089) 1,322TOTAL 168 (47)Discontinuation of cash flow hedge accounting (cash flows still expected to occur) –amounts recorded in interest margin 15 11Additional information178Dexia Annual report 2009
Notes to the consolidated fi nancial statements11.5. Net income on investments31/12/08 31/12/09Gains on loans and advances 265 91Gains on financial assets available for sale 619 691Gains on tangible fixed assets 8 17Gains on assets and liabilities held for sale 12 6Gains on liabilities 27 74Other gains 0 3Total gains 931 882Losses on loans and advances (205) (144)Losses on financial assets available for sale (1) (1,705) (1,406)Losses on investments held to maturity 0 (1)Losses on tangible fixed assets (8) (15)Losses on liabilities (9) (50)Other losses 0 (1)Total losses (1,927) (1,617)Net impairment (2,519) 758TOTAL (3,515) 23(1) See note 9.5.C. Assets and liabilities included in disposal groups held for sale.IMPAIRMENT ON SECURITIESSpecific riskTotalAllowances Write-backsAs at 31 December 2008Securities available for sale (2,612) 93 (2,519)TOTAL (2,612) 93 (2,519)As at 31 December 2009Securities available for sale (99) 857 758TOTAL (99) 857 758Management reportConsolidatedfinancial statementsAnnual financial statementsAdditional informationAnnual report 2009 Dexia 179
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9Annual report 2009Management repor
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9Management report
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Group profi leSIMPLIFIED GROUP STRU
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Group profi leQUALITY OF RISKS Dexi
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In accordance with the agreement wi
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2009 and early 2010 highlightsExit
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2009 and early 2010 highlightsCreat
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Corporate governanceIntroduction: t
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Corporate governanceThe European Ad
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Corporate governanceNAMEPIERREMARIA
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Corporate governanceNAMEROBERTDE ME
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Corporate governanceNAMESPECIALISTC
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Corporate governanceNAMEKOEN VAN LO
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Corporate governanceNew directors a
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Corporate governanceConsidering tho
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Corporate governancemade and the fi
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Corporate governanceDIRECTORS’ AN
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Corporate governanceOperation and a
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Corporate governanceThe Appointment
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Corporate governanceResponsibilitie
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Corporate governanceVariable compen
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Corporate governancetional entities
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Corporate governance• It identifi
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Shareholder informationStock market
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Shareholder informationPRINCIPAL DE
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Human resourcesAGE PYRAMID> 5955-59
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Sustainable developmentThe 2009 Dex
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Risk managementIntroductionIn 2009,
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Risk managementThe Rating Committee
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Risk managementAsset qualityBy the
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Risk managementBond portfolioDexia
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Risk managementThis good performanc
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Risk managementRisk and control sel
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Risk managementECONOMIC CAPITALBY T
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Financial resultsPreliminary notes
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Financial resultsSolvency31/12/08 3
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Financial resultsAssetsLoans and ad
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Activity and results of the busines
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General information3. Overview of t
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General informationAll the above-me
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General information4.5. Dexia banka
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General information6.3. Notificatio
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Consolidated balance sheet ........
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Consolidated balance sheetManagemen
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Consolidated statementof incomeMana
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Management reportConsolidatedfinanc
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Consolidated statementof comprehens
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Notes to the consolidated financial
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Statutory Auditor’s report• Wit
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Additional informationGeneral dataN
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Additional informationDexia FP Hold
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Dexia’s annual report 2009 has be
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Annual report 2009 - Dexia.com

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