Belgian-French lender
has posted a first quarter net profit of €69m ($97.3m), down 69%
from the same period a year ago (Q110: €216m).

But the three month
period to 31 March witnessed a strong performance from Dexia’s
retail banking unit – in particular at its Turkey-based subsidiary
DenizBank.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Pre-tax income soared by
50.9% year-on-year to €251m at Dexia’s Retail & Commercial
Banking unit; first quarter revenue at the unit increased by 4.6%
to €728m.

First quarter retail
banking highlights included:

  • DenizBank consolidated its 2.7% deposits
    market share in Turkey and increased its loans market share from
    4.2% as at December 2010 to 4.4% at the end of February
    2011;
  • DenizBank increased its branch network by
    a net 12 outlets and ended the first quarter with 512
    units;
  • DenizBank increased customer numbers by a
    net 194,000 in the first quarter compared to an average of 106,000
    per quarter in 2010;
  • Loan demand was also sustained in Belgium
    and Luxembourg as well as Turkey with  more total customer
    loans increasing by 9% year-on-year;
  • Dexia’s Open Branch project
    has now been implemented at 327 of its branches in Belgium,
    and
  • Cash deposits made via Dexia’s
    Diebold-supplied self-service recycler ATM’s have increased
    sharply, from 66% of all deposits a year ago to 84% in the first
    quarter of this fiscal.

Total assets at Dexia
fell by 10.4% year-on-year to €526.6bn.

Dexia is committed to
reduce its balance sheet by 35% by 2014 from 2008 levels in terms
of a deal agreed with the European Commission.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

An interview with DenizBank’s senior vice
president, self service channels management, forms part of RBI’s
ongoing series of Turkish bank interviews and will be
published in June.