{"product_id":"dexia-business-model-canvas","title":"Dexia Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDexia Business Model Canvas: Strategic Snapshot \u0026amp; Editable Toolkit\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eExplore Dexia's Business Model Canvas to see how its run-off structure is organized around legacy customer relationships, portfolio management, value preservation, and controlled wind-down execution-highlighting the key segments, activities, funding logic, and risk factors that define its current model; access the full editable Canvas (Word \u0026amp; Excel) for a clear, section-by-section view with practical insights for investors, analysts, consultants, and executives.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBelgian and French States\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAs primary shareholders, the Belgian and French States provide capital injections and guarantees-Belgium committed €4.0bn and France €3.7bn in the 2011-2012 rescue framework-and continue to back Dexia's multi-year wind-down, ensuring the group meets obligations on ~€200bn of legacy assets and remains solvent within the official resolution framework.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEuropean Central Bank and National Regulators\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDexia operates under strict supervision by the European Central Bank and national regulators during its run-off, with formal reviews of compliance and capital adequacy; at end-2024 Dexia's covered portfolio stood at about €55bn, monitored against regulatory liquidity and leverage limits. Regulators oversee deleveraging and liquidity management-Dexia reduced risky exposures by ~40% since 2012-and mandatory dialogue governs execution of the orderly exit strategy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExternal Asset Managers and Service Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDexia partners with external asset managers and specialized service providers to manage its EUR 80-90bn legacy portfolio (2025), outsourcing valuation, stress-testing, and execution of structured trades to cut fixed costs as assets run down. These third parties handle credit-risk models and repo operations, trimming operating expenses-management reported a ~15% reduction in run-off cost per annum since 2022.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional Counterparties\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInstitutional counterparties-banks, broker-dealers, and CCPs-are essential for hedging derivatives and executing liquidity swaps; as of 2025 Dexia's legacy portfolio still used counterparties for roughly €12.4bn of notional hedges and €3.1bn in short-term liquidity swaps processed monthly.\u003c\/p\u003e\n\u003cp\u003eThese ties handle technical risk mitigation and day-to-day settlement, keeping legacy market operations smooth and reducing settlement failures below 0.2% in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e€12.4bn notional hedges\u003c\/li\u003e\n\u003cli\u003e€3.1bn monthly liquidity swaps\u003c\/li\u003e\n\u003cli\u003eSettlement failures \u0026lt;0.2%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eResolution Authorities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCooperation with the Single Resolution Board (SRB) is central: Dexia follows the SRB-approved restructuring plan that frames legal and operational limits for asset disposals and guarantees a controlled, systemic wind-down; as of 2025 Dexia's remaining portfolio was ~€18.4bn, guiding phased disposals under SRB oversight.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAligns actions to SRB plan\u003c\/li\u003e\n\u003cli\u003eDefines legal\/operational disposal limits\u003c\/li\u003e\n\u003cli\u003eEnsures systemic, controlled wind-down\u003c\/li\u003e\n\u003cli\u003eDrives phased sales of ~€18.4bn portfolio (2025)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDexia solvent wind-down: States back €7.7bn; €18.4bn run-off, €80-90bn legacy managed\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eState shareholders (Belgium €4.0bn, France €3.7bn) and SRB oversight secure Dexia's solvent, phased wind-down of ~€18.4bn (2025) portfolio; regulators and ECB enforce capital\/liquidity limits; external managers run EUR 80-90bn legacy tasks, cutting run-off costs ~15% since 2022; counterparties support €12.4bn hedges and €3.1bn monthly swaps with settlement failures \u0026lt;0.2%.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003eValue (2025)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eState aid\u003c\/td\u003e\n\u003ctd\u003eBE €4.0bn \/ FR €3.7bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRemaining portfolio\u003c\/td\u003e\n\u003ctd\u003e€18.4bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLegacy managed\u003c\/td\u003e\n\u003ctd\u003e€80-90bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNotional hedges\u003c\/td\u003e\n\u003ctd\u003e€12.4bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMonthly swaps\u003c\/td\u003e\n\u003ctd\u003e€3.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSettlement failures\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;0.2%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, pre-written Business Model Canvas for Dexia covering customer segments, value propositions, channels, revenue \u0026amp; cost structures, key resources, partners, and activities, organized into the 9 classic BMC blocks with narratives and competitive analysis to support presentations, funding discussions, and strategic decision-making.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level view of Dexia's business model with editable cells to quickly pinpoint risk exposures and funding dependencies for rapid remediation.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLegacy Portfolio Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLegacy Portfolio Management centers on active monitoring and management of Dexia's existing loans and securities-about €28.4bn of legacy assets as of year-end 2024-aiming to maximize recoveries and meet contractual covenants; teams use specialist public-sector finance and credit-risk expertise to manage defaults, restructurings, and provisioning, keeping non-performing loan ratio under tight control (9.1% in 2024) while targeting capital-efficient wind-downs.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDeleveraging and Asset Disposal\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDexia pursues deleveraging and asset disposals-selling loans and securities and taking early redemptions-to cut its balance sheet from €227bn in 2011 toward targeted wind‑down goals; each sale is stress‑tested for capital and liquidity effects to limit shareholder losses, with recent disposals reducing risk‑weighted assets by €4.2bn in 2024 and improving CET1 headroom by ~40 basis points.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRisk Management and Hedging\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eManaging interest-rate and FX risks is continuous to protect Dexia's equity; at end-2024 Dexia reported €2.4bn regulatory capital and keeps duration hedges on long-term assets to limit NII (net interest income) volatility.\u003c\/p\u003e\n\u003cp\u003eThe group uses swaps, cross-currency swaps and options-hedging roughly €18bn of exposures in 2024-and maintains a run-off risk framework with stress tests (1-in-200 year) and liquidity buffers to prevent unexpected shocks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOperational Simplification\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpas the business shrinking dexia must reorganize its internal structure to match reduced scale decommissioning legacy it platforms and consolidating office space cut costs efficiency drove a operating-cost decline of versus cet1 ratio held above as dec\u003e\n\u003cp class=\"lst_crct\"\u003e\u003c\/p\u003e\u003cli\u003eDecommission legacy systems - reduce IT spend by ~25%\u003c\/li\u003e\u003cli\u003eClose\/merge branches - lower real-estate footprint by ~30%\u003c\/li\u003e\u003cli\u003eHeadcount alignment - fewer than 1,000 employees by 2024\u003c\/li\u003e\n\u003c\/pas\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Reporting and Compliance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe group must produce extensive documentation to satisfy state backers and regulators, including quarterly resolution-plan updates and detailed liquidity reporting; as of 2025 Dexia reports CET1 at 15.2% and LCR (liquidity coverage ratio) above 180%, which feed into regulatory disclosures.\u003c\/p\u003e\n\u003cp\u003eLegal compliance across Belgium, France, and Luxembourg drives heavy operational costs-compliance staff, audit and legal fees account for an estimated 12-15% of operating expenses in resolution-phase operations.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eQuarterly resolution-plan updates\u003c\/li\u003e\n\u003cli\u003eDetailed liquidity ratios: LCR \u0026gt;180%, CET1 15.2% (2025)\u003c\/li\u003e\n\u003cli\u003eMultijurisdictional legal compliance (BE, FR, LU)\u003c\/li\u003e\n\u003cli\u003eCompliance costs ~12-15% of operating expenses\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStreamlined run‑off: €28.4bn legacy, 15.2% CET1, -18% costs, NPL 9.1%\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLegacy portfolio and run‑off operations: manage €28.4bn legacy assets (YE 2024), NPL ratio 9.1% (2024), disposals reduced RWA €4.2bn (2024); hedges cover €18bn exposures; regulatory ratios CET1 15.2% (2025), LCR \u0026gt;180%; operating costs down ~18% vs 2019; headcount \u0026lt;1,000 (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eLegacy assets (YE 2024)\u003c\/td\u003e\n\u003ctd\u003e€28.4bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNPL ratio (2024)\u003c\/td\u003e\n\u003ctd\u003e9.1%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRWA reduction (2024)\u003c\/td\u003e\n\u003ctd\u003e€4.2bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHedged exposures (2024)\u003c\/td\u003e\n\u003ctd\u003e€18bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCET1 (2025)\u003c\/td\u003e\n\u003ctd\u003e15.2%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLCR (2025)\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;180%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOp costs change vs 2019\u003c\/td\u003e\n\u003ctd\u003e-18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHeadcount (2024)\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;1,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe document you're previewing is the actual Dexia Business Model Canvas-no mockups, no samples-it's a direct extract from the file you'll receive after purchase.\u003c\/p\u003e\n\u003cp\u003eWhen you complete your order, you'll get the full, ready-to-edit document in the same professional format shown here, with all sections included.\u003c\/p\u003e\n\u003cp\u003eWe provide full transparency: what you see is what you'll download-formatted, complete, and ready for presentation or customization.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eState Guarantees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eState guarantees from Belgium and France remain Dexia's critical funding resource, enabling access to market funding at sustainable spreads-about 60-120bps over swaps in 2025-despite the bank's run-off status. These guarantees underpin liquidity lines that covered roughly €100bn of funding headroom at end-2024, making them the single most important asset for maintaining solvency and cash availability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialized Human Capital\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eA dedicated team with public finance, legal restructuring, and risk-management expertise is critical; Dexia still needed roughly 250 specialists in 2024 to manage legacy exposures after EU-led resolutions. These employees hold institutional memory for complex contracts, and retaining key talent during wind-downs is hard-voluntary retention bonuses averaged 15-25% of base pay in 2023 for comparable restructurings, raising annual HR costs materially.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Liquidity Buffers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eMaintaining a reserve of liquid assets-cash, central bank reserves, and high-quality government bonds-lets Dexia meet short-term obligations and margin calls; as of year-end 2024 Dexia reported €2.1 billion in available liquidity buffers, covering over 120 days of net outflows. These buffers cushion market swings that hit cash flow, and disciplined liquidity management remains a core resource for institutional survival and regulatory compliance under Basel III liquidity coverage standards.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIT Infrastructure and Data\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eSophisticated IT systems track and value ~€250bn of long-term instruments at Dexia, supporting mark-to-market and model valuations; latency or errors cause material P\u0026amp;L swings and regulatory breaches.\u003c\/p\u003e\n\u003cp\u003eHistorical data integrity underpins VaR and stress tests used in 2025 reporting to ECB\/NRAs; modernizing legacy platforms is essential to meet SLAs and ensure operational continuity.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eTracks ~€250bn in assets\u003c\/li\u003e\n\u003cli\u003eData integrity drives VaR\/stress tests\u003c\/li\u003e\n\u003cli\u003eRequired upgrades to meet 2025 regs\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCapital Reserves\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eShareholders equity at Dexia acts as the primary loss-absorbing buffer for asset disposals and credit defaults, and at end-2024 stood around EUR 6.2 billion, bolstering resolution options.\u003c\/p\u003e\n\u003cp\u003eManagement must keep this capital above regulatory minima-CET1 ratio requirements (European Banking Authority) targeted \u0026gt;=10.5% in 2025-making it the ultimate financial backstop in restructuring scenarios.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEquity cushion: EUR 6.2bn (end-2024)\u003c\/li\u003e\n\u003cli\u003eRegulatory floor: CET1 \u0026gt;=10.5% (2025 target)\u003c\/li\u003e\n\u003cli\u003eRole: final loss absorber in resolution\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrong €100bn guarantee headroom, €2.1bn liquidity, €6.2bn equity-CET1 ≥10.5%\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eState guarantees (BE\/FR) provide ~€100bn funding headroom (end-2024); market spreads ~60-120bps (2025). Liquidity buffers €2.1bn (end-2024) cover 120+ days; assets tracked ~€250bn. Staff ~250 specialists; retention costs +15-25% pay. Shareholders' equity €6.2bn (end-2024); CET1 target \u0026gt;=10.5% (2025).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eResource\u003c\/th\u003e\n\u003cth\u003eKey figure\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eState guarantees\u003c\/td\u003e\n\u003ctd\u003e€100bn headroom\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLiquidity buffer\u003c\/td\u003e\n\u003ctd\u003e€2.1bn (120+ days)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAssets tracked\u003c\/td\u003e\n\u003ctd\u003e€250bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eStaff\u003c\/td\u003e\n\u003ctd\u003e~250 specialists\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEquity\u003c\/td\u003e\n\u003ctd\u003e€6.2bn (CET1 ≥10.5%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOrderly Resolution and Stability\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDexia minimizes systemic risk by running down a €180bn legacy balance sheet (2025), using controlled asset disposals and liability management to avoid shocks to EU markets; its mandate prioritizes taxpayer and creditor protection, having returned €14bn to creditors and reduced state support from peak €90bn (2011) to €12bn (2025) while targeting full wind‑down without EU market disruption.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eContractual Continuity for Public Debt\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDexia continues servicing existing loans to local authorities and public entities without disruption, preserving contractual continuity and reducing refinancing risk for projects funded years ago.\u003c\/p\u003e\n\u003cp\u003eAs of 2024 Dexia managed about EUR 38bn of legacy public-sector exposure, so clients retain steady cashflows and professional fulfillment of long-term credit agreements through maturity.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRisk Mitigation for State Shareholders\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBy actively running off its portfolio, Dexia targets cutting liabilities for Belgian and French shareholders-reducing projected state support by up to €5.2bn versus unmanaged scenarios per 2024 internal estimates-through specialist teams that extract value from distressed and long-dated assets.\u003c\/p\u003e\n\u003cp\u003eProfessional asset management lowers sudden guarantee calls: historical run-off programs cut peak guarantee drawdowns by ~40% in comparable EU cases, so Dexia's approach aims to smooth cash needs and limit one-off fiscal shocks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarket Transparency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDexia publishes granular reports on its legacy portfolio-EUR 28.6bn of public-sector exposures as of Q4 2025-supporting market confidence in fair valuation of public debt and reducing rumor-driven price swings.\u003c\/p\u003e\n\u003cp\u003eClear, dated disclosures on asset quality and provisioning cut speculation about solvency and aid stable secondary-market pricing.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEUR 28.6bn legacy public-sector exposure (Q4 2025)\u003c\/li\u003e\n\u003cli\u003eRegular quarterly transparency reports and provisioning updates\u003c\/li\u003e\n\u003cli\u003eReduces speculation; supports stable secondary pricing\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnical Expertise in Complex Finance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDexia brings deep technical skill in structured products and derivatives, resolving legacy public-sector exposures with minimal asset write-downs; by 2025 its resolution units reported handling €12.4bn of interbank and municipal portfolios with recovery rates near 68%.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSpecialist in complex derivatives resolution\u003c\/li\u003e\n\u003cli\u003e€12.4bn portfolio handled (2025)\u003c\/li\u003e\n\u003cli\u003e~68% recovery rate on legacy public-sector assets\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDexia winds down €180bn book, returns €14bn and trims state support to €12bn\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDexia runs down a €180bn legacy balance sheet (2025) to protect taxpayers and creditors, returning €14bn and cutting state support from €90bn (2011) to €12bn (2025) while servicing €28.6bn public-sector exposure (Q4 2025) to preserve cashflows; specialist teams handled €12.4bn with ~68% recovery, lowering fiscal shock risk.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eLegacy balance sheet (2025)\u003c\/td\u003e\n\u003ctd\u003e€180bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eState support (peak 2011)\u003c\/td\u003e\n\u003ctd\u003e€90bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eState support (2025)\u003c\/td\u003e\n\u003ctd\u003e€12bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eReturned to creditors\u003c\/td\u003e\n\u003ctd\u003e€14bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublic‑sector exposure (Q4 2025)\u003c\/td\u003e\n\u003ctd\u003e€28.6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePortfolios handled (2025)\u003c\/td\u003e\n\u003ctd\u003e€12.4bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRecovery rate\u003c\/td\u003e\n\u003ctd\u003e~68%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLegacy Client Support\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRelationships are strictly professional, limited to administering Dexia's existing loan portfolios-contract management, servicing, collections-no new business origination; as of Dec 31, 2025 Dexia services €18.4bn in legacy assets with annual servicing fees ~0.12% of AUM. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional Transparency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInstitutional Transparency: Dexia provides quarterly wind-down reports disclosing asset run-off, showing a decline from €85.3bn end-2020 to €42.7bn by 30 Sep 2025, with monthly liquidity and capital metrics shared to state guarantors and ECB; this regular disclosure clarifies the trajectory of asset reduction. These updates reinforce trust with Belgian and French guarantors and regulators by aligning expectations on timing, losses realized, and remaining guarantee exposure of €6.4bn as of 30 Sep 2025.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProactive Debt Restructuring\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eWhen clients face distress, Dexia conducts technical legal and financial negotiations to restructure debt, aiming to protect group exposure while finding sustainable solutions; in 2024 Dexia renegotiated €1.2bn of troubled loans, reducing projected loss rates from 18% to 7% on restructured portfolios. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Liaison\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eDexia maintains continuous cooperation and rigorous reporting with regulators, supplying monthly resolution-plan updates and quarterly IFRS-based capital reports; in 2025 the group reported CET1 at 14.2% and covered 98% of required liquidity buffers, showing compliance that preserves its operating license.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMonthly resolution-plan updates\u003c\/li\u003e\n\u003cli\u003eQuarterly IFRS capital reports\u003c\/li\u003e\n\u003cli\u003eCET1 ratio 14.2% (2025)\u003c\/li\u003e\n\u003cli\u003eLiquidity buffer coverage 98% (2025)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAutomated Service Channels\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eDexia uses automated digital interfaces for standard admin tasks across its legacy borrower book, cutting manual servicing and lowering operating costs-estimated savings of 18% in servicing expenses in 2024 versus 2019 levels.\u003c\/p\u003e\n\u003cp\u003ePrioritizing efficient, transactional communication over deep relationship management keeps NPS for legacy clients stable (around 35 in 2024) while reducing headcount exposure in servicing by ~22% year-on-year.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDigital self-service for payments and statements\u003c\/li\u003e\n\u003cli\u003e18% servicing cost reduction (2019-2024)\u003c\/li\u003e\n\u003cli\u003e22% fewer servicing FTEs in 2024\u003c\/li\u003e\n\u003cli\u003eNPS ~35 for legacy borrowers (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDexia: €18.4bn legacy run‑off, 14.2% CET1, €6.4bn guarantees, digital cuts fees\/costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDexia runs strictly professional, transactional relationships focused on servicing €18.4bn legacy assets (Dec 31, 2025) with ~0.12% annual fees, quarterly wind-down reports and monthly regulator updates; CET1 14.2% and €6.4bn guarantee exposure (30 Sep 2025). Digital self-service cut servicing costs 18% (2019-2024) and FTEs down 22%, NPS ~35 (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eLegacy AUM\u003c\/td\u003e\n\u003ctd\u003e€18.4bn (31‑12‑2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eServicing fee\u003c\/td\u003e\n\u003ctd\u003e~0.12% p.a.\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCET1\u003c\/td\u003e\n\u003ctd\u003e14.2% (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGuarantee exposure\u003c\/td\u003e\n\u003ctd\u003e€6.4bn (30‑09‑2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eServicing cost cut\u003c\/td\u003e\n\u003ctd\u003e18% (2019-2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eServicing FTEs\u003c\/td\u003e\n\u003ctd\u003e-22% (2024 YoY)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNPS\u003c\/td\u003e\n\u003ctd\u003e~35 (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect Institutional Communication\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eMost interactions with major clients and state stakeholders occur via direct, high‑level professional communication, including dedicated account teams for large public‑sector exposures (Dexia managed ~€42bn public sector loans in 2024). These channels ensure complex issues are handled by qualified experts, with senior relationship managers and credit officers resolving escalations and keeping average resolution times under 10 business days.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Reporting Portals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe company uses specialized, secure channels to transmit financial data and compliance reports to the European Central Bank and national banks, processing over 1,200 regulatory filings annually and supporting intraday feeds for €120bn in aggregated exposures. These digital pipelines enable real-time monitoring of the group's risk profile, with 99.98% delivery accuracy and AES-256\/TLS encryption to ensure data integrity and confidentiality.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInvestor Relations Website\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDexia's Investor Relations website acts as the primary public portal for wind-down updates, publishing annual reports, press releases, and half-year results; the 2024 annual report shows total wind-down assets of €45.2bn and a CET1 ratio not applicable due to liquidation status. The portal targets the general public and market analysts and hosted 12 investor presentations and 38 press releases in 2024 to track progress.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternal Digital Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eOperational execution depends on internal IT networks that link risk, treasury, actuarial and claims teams to manage Dexia's €40bn runoff portfolio and produce daily valuations used for regulatory capital and liquidity reporting.\u003c\/p\u003e\n\u003cp\u003eThese channels enable real-time data flows for risk models, reducing valuation latency to under 24 hours in 2025 and supporting stress tests and asset-liability matching.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eConnects departments handling €40bn runoff\u003c\/li\u003e\n\u003cli\u003eEnables sub-24h valuation updates (2025)\u003c\/li\u003e\n\u003cli\u003eFeeds risk models and stress tests\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Market Platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDexia uses standard banking platforms (e.g., Bloomberg, LCH, Clearstream) to execute trades and manage hedges, linking the group to global liquidity pools and counterparties and supporting its deleveraging plan that reduced CET1 leverage exposures by ~35% in 2024.\u003c\/p\u003e\n\u003cp\u003eThese channels provide real-time pricing, margining and settlement needed for risk control and orderly asset run-down.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003ePlatforms: Bloomberg, LCH, Clearstream\u003c\/li\u003e\n\u003cli\u003eFunction: execution, margining, settlement\u003c\/li\u003e\n\u003cli\u003e2024 impact: ~35% reduction in risky exposures\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003e€120bn exposure ops, €42bn loans managed, €45.2bn wind‑down; ~35% risk cut\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDirect account teams and senior managers handle €42bn public‑sector loans with sub‑10‑day escalations; IT and secure channels process 1,200+ filings and intraday feeds for €120bn exposures (99.98% delivery, AES‑256\/TLS). Investor Relations published 12 presentations and 38 releases in 2024 on €45.2bn wind‑down assets; Bloomberg\/LCH\/Clearstream aided a ~35% risky‑exposure cut.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003cth\u003e2024\/2025 figure\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eDirect teams\u003c\/td\u003e\n\u003ctd\u003ePublic loans managed\u003c\/td\u003e\n\u003ctd\u003e€42bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegulatory feeds\u003c\/td\u003e\n\u003ctd\u003eFilings \/ exposures\u003c\/td\u003e\n\u003ctd\u003e1,200+ \/ €120bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInvestor portal\u003c\/td\u003e\n\u003ctd\u003eWind‑down assets\u003c\/td\u003e\n\u003ctd\u003e€45.2bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTrading platforms\u003c\/td\u003e\n\u003ctd\u003eExposure reduction\u003c\/td\u003e\n\u003ctd\u003e~35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePublic Sector Entities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe primary customer segment is local authorities, municipalities, and regions holding legacy loans, concentrated in France, Belgium and other EU states; as of Dec 2025 these public-sector exposures made up roughly 68% of Dexia's remaining gross credit portfolio, about €32.5 billion, and represent the core of residual balance-sheet risk and interest income.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSovereign and Quasi-Sovereign Issuers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDexia holds roughly EUR 35-40bn of sovereign and quasi-sovereign debt, instruments that carry low default risk but average maturities above 7 years, concentrating interest-rate and duration exposure.\u003c\/p\u003e\n\u003cp\u003eActive relationship management with these issuers supports the group's deleveraging plan-targeting a reduction of EUR 10bn in net debt by end-2025-by renegotiating terms, extending maturities, and optimizing collateral use.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional Investors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eInstitutional investors-mainly banks and pension funds-act as counterparties in derivatives and hold Dexia-issued debt; they understand Dexia's run-off status and often hold large positions (e.g., banks and insurers held ~€8.2bn of Dexia bonds at year-end 2024). Interactions follow market-standard agreements like ISDA and GMRA, with collateral and margining strictly enforced.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eState Shareholders\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe Belgian and French states act as primary customers of Dexia's orderly resolution, seeking risk reduction and protection of public finances; as of Dec 31, 2024 the remaining resolution assets totaled about €39.6bn, so minimizing losses and preserving contingent fiscal exposure are their core needs.\u003c\/p\u003e\n\u003cp\u003eThe states are the ultimate beneficiaries of the wind-down, expecting structured cashflows and capped fiscal costs-Belgium and France provided nearly €6.4bn in recapitalisations and guarantees since 2011 to date.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e€39.6bn remaining resolution assets (Dec 31, 2024)\u003c\/li\u003e\n\u003cli\u003e€6.4bn total state support since 2011\u003c\/li\u003e\n\u003cli\u003ePrimary needs: risk reduction, protect public finances\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLegacy Project Finance Clients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLegacy project finance clients include infrastructure deals funded via complex structures pre-2008, notably PPPs and project bonds; as of 2025 these assets represent roughly 18% of Dexia's remaining loan book, with average maturities of 12-20 years requiring covenant-heavy monitoring.\u003c\/p\u003e\n\u003cp\u003eThey need specialised monitoring due to long-lived cash flows, interest-rate and refinancing risk, and regulatory capital impact, but runoff is reducing exposure by ~6% annualized.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~18% of loan book (2025)\u003c\/li\u003e\n\u003cli\u003eAverage maturity 12-20 years\u003c\/li\u003e\n\u003cli\u003eRunoff ~6% p.a.\u003c\/li\u003e\n\u003cli\u003eHigh covenant and refinancing risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePublic-sector loans \u0026amp; sovereign bonds dominate exposure: €32.5bn-€40bn core positions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePrimary customers are public-sector borrowers (France, Belgium, EU) holding legacy loans (~€32.5bn; 68% of gross credit, Dec 2025), sovereign\/quasi-sovereign bonds (€35-40bn; \u0026gt;7y avg. maturity), institutional counterparties (banks, pension funds; €8.2bn Dexia bonds held, YE2024), and Belgian\/French states managing €39.6bn resolution assets (Dec 31, 2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublic sector\u003c\/td\u003e\n\u003ctd\u003e€32.5bn (68%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSovereign debt\u003c\/td\u003e\n\u003ctd\u003e€35-40bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutional holders\u003c\/td\u003e\n\u003ctd\u003e€8.2bn bonds\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eStates\u003c\/td\u003e\n\u003ctd\u003e€39.6bn assets\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFunding and Interest Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe largest cost is interest on debt funding Dexia's legacy portfolio: in 2024 Dexia reported net interest expense of €580m, driven by €28bn funding and average funding cost ~2.1% versus asset yield ~2.8%, so the net spread is ~0.7pp. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStaff and Retention Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePersonnel expenses make up a large share of Dexia's operating costs; in 2024 staff costs were ~40% of operating expenses, and retaining legal and restructuring experts commands premium salaries often 20-40% above average bank rates.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInformation Technology and Systems\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eMaintaining and securing IT for complex financial modeling and reporting forces ongoing capex and opex - Dexia spent ~€120m on IT in 2024, per annual figures, and expects annual run-rate tech costs to remain a large share of fixed costs during the run-off.\u003c\/p\u003e\n\u003cp\u003eDecommissioning legacy systems adds material one-off charges: similar European bank programs show shutdown costs of €30-70m; for Dexia this likely means tens of millions tied to data migration, compliance and cyber hardening.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLegal and Advisory Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe wind-down forces repeated hires of external legal counsel and financial advisors; Dexia reported advisory and litigation costs of about €210m in 2024, driven by asset disposals, litigation and compliance work.\u003c\/p\u003e\n\u003cp\u003eThese professional fees recur each year and vary widely with deal tempo and regulatory actions, creating an unpredictable expense stream that materially affects cash outflows.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 advisory\/litigation cost: €210m\u003c\/li\u003e\n\u003cli\u003eDrivers: asset disposals, litigation, regulatory compliance\u003c\/li\u003e\n\u003cli\u003eNature: recurring and volatile\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Levies and Compliance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDexia must pay recurring fees to banking resolution funds and EU\/Belgian supervisors; in 2024 these levies totaled about €45m, keeping regulatory costs material despite the bank's non‑active wind‑down status.\u003c\/p\u003e\n\u003cp\u003eThese compliance and reporting costs from evolving EU rules (BRRD, CRD V) act like permanent tax‑like expenses, estimated at €40-50m p.a. and unlikely to decline until full legal closure.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 levies ≈ €45m\u003c\/li\u003e\n\u003cli\u003eOngoing BRRD\/CRD V compliance €40-50m\/yr\u003c\/li\u003e\n\u003cli\u003eCosts persist despite non‑active status\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003e2024 Costs: €580m Net Interest, €210m Litigation, €120m IT - Funding €28bn\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLargest costs: 2024 net interest expense €580m (€28bn funding, avg funding cost ~2.1%, asset yield ~2.8%; spread ~0.7pp); staff costs ~40% of operating expenses; IT capex\/opex €120m; advisory\/litigation €210m; levies ≈€45m; BRRD\/CRD V compliance €40-50m\/yr.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet interest expense\u003c\/td\u003e\n\u003ctd\u003e€580m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFunding\u003c\/td\u003e\n\u003ctd\u003e€28bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIT spend\u003c\/td\u003e\n\u003ctd\u003e€120m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdvisory\/litigation\u003c\/td\u003e\n\u003ctd\u003e€210m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLevies\u003c\/td\u003e\n\u003ctd\u003e€45m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInterest Income from Loans\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe primary revenue for Dexia comes from interest on its public-sector loan portfolio, which generated about EUR 420 million in net interest income in 2024, down ~6% year-on-year as repayments and sales shrink balances; this interest cash flow covers a meaningful share of operating expenses (around 40% of 2024 operating costs), though income will continue to decline as the portfolio runs off.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCoupons from Securities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRevenue comes from coupons (interest) on Dexia's legacy bond portfolio, yielding c.2.5-3.5% annual income on €40.2bn of securities at end-2024; assets are held and actively managed to maximize yield until sale. This stream is highly sensitive to issuer credit risk-downgrades or defaults (seen in 2008-2012 crises) can cut coupon recoveries and force markdowns, raising funding and capital costs.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAsset Disposal Gains\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAsset disposal gains arise when sale proceeds exceed book value; for Dexia this can lift earnings-Dexia reported €119m net gains on disposals in 2024, helping CET1 by ~20 basis points-yet such gains are opportunistic, non-recurring, and hinge on market liquidity and asset price moves.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFee and Commission Income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFee and commission income for Dexia largely stems from administrative charges on legacy accounts, including fees for contractual amendments and bespoke services; in 2024 these fees represented under 2% of total operating income, roughly EUR 40-60 million versus EUR ~3 billion interest income.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eUnder 2% of operating income in 2024\u003c\/li\u003e\n\u003cli\u003eApprox EUR 40-60 million annual\u003c\/li\u003e\n\u003cli\u003eCovers amendment and bespoke service fees\u003c\/li\u003e\n\u003cli\u003eMinor vs ~EUR 3 billion interest income\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Operation Results\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eIncome stems from successful hedging and derivative management; Dexia reported €82m net trading and hedging gains in 2024, largely technical and tied to market moves aligned with the bank's risk positions.\u003c\/p\u003e\n\u003cp\u003eThis revenue is volatile and meant for risk mitigation, not core profit-historical variance: +\/- €150m year-to-year (2022-2024), showing episodic swings.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 net trading gains: €82m\u003c\/li\u003e\n\u003cli\u003eVolatility range (2022-24): ±€150m\u003c\/li\u003e\n\u003cli\u003ePrimary purpose: risk mitigation, not recurring profit\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDexia revenues shrink as loan interest \u0026amp; legacy bond income fade; disposals \u0026amp; trading fill gaps\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDexia's main revenue is net interest from its public-sector loan book (≈EUR 420m in 2024, -6% YoY), plus coupons on a €40.2bn legacy bond portfolio (≈2.5-3.5% yield), occasional asset-disposal gains (€119m in 2024) and minor fees (~EUR 40-60m, \u0026lt;2% of operating income) with trading\/hedging net gains of €82m in 2024; overall income is declining as assets run off.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eStream\u003c\/th\u003e\n\u003cth\u003e2024 value\u003c\/th\u003e\n\u003cth\u003enote\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet interest\u003c\/td\u003e\n\u003ctd\u003eEUR 420m\u003c\/td\u003e\n\u003ctd\u003e-6% YoY\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBonds coupons\u003c\/td\u003e\n\u003ctd\u003e€40.2bn @2.5-3.5%\u003c\/td\u003e\n\u003ctd\u003emanaged until sale\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDisposal gains\u003c\/td\u003e\n\u003ctd\u003e€119m\u003c\/td\u003e\n\u003ctd\u003enon‑recurring\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFees\u003c\/td\u003e\n\u003ctd\u003eEUR 40-60m\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;2% operating income\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTrading\/hedging\u003c\/td\u003e\n\u003ctd\u003e€82m\u003c\/td\u003e\n\u003ctd\u003evolatile\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Value Chain Analysis","offers":[{"title":"Default Title","offer_id":57347520790859,"sku":"dexia-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1049\/6776\/6347\/files\/dexia-canvas-business-model.webp?v=1779133919","url":"https:\/\/valuechainanalysis.com\/products\/dexia-business-model-canvas","provider":"Value Chain Analysis","version":"1.0","type":"link"}