Dexia, following in the footsteps of Fortis yesterday, is to receive a €6.4bn cash infusion from the French, Belgian and Luxembourg governments.

Some Dexia stats (Q2 results here):

• Assets under management c. €605bn
• Tier 1 Capital ratio of 11.4 per cent (June 2008)
• Dexia bank long term rated Aa1, AA, AA+
• Dexia’s performance has been particularly affected by the troubles affecting its bond insurer subsidy FSA, which cost the bank significantly, reducing Dexia’s Q2 08 income by a third.

Dexia shares fell just shy of 30 per cent in trade yesterday, down €2.98 to close at €7.07 a
share. Fortunately, the bank’s IT team were ahead of the curve:

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This entry was posted by Sam Jones on Tuesday, September 30th, 2008 at 7:57 and is filed under Capital markets. Tagged with dexia. Edit this entry.