Kristof Saelens2AF1

English: Accounting & Tax 1 - SlidecastArtevelde Hogeschool – J. Casteleyn

Quarterly Figures Fourth Quarter 2008

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General info

Main activities Retail banking Insurance Asset management

CEO: André Bergen

Interim-CEO: Jan Vanhevel

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Quarterly figures – fourth quarter 2008

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Notes of the accounts

Dreadful fourth quarter for financial markets

No respite for sector 

Reduce costs!

Financial position remains solid

2009: encouraging

January 2009 better than January 2008.

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Financial highlights

Results affected by markdowns on structured credit portfolios

CDO investments were marked down to zero

Loss in value of the equity investment portfolio

Share prices sank 20%

Write-offs net negative impact

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Financial highlights

Deposit pricing pressure limited profitability in Belgium

Customer deposit growth and life insurance sales remains solid

Interest margin edges up by 6 basis points

Underwriting result for the insurance business: very good

Combined year ratio = 96%

Full-year return on allocated capital for the Belgium Business Unit came to 36%

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Financial highlights

Severe challenges Overall economic activity slowed Credit growth restricted Commercial loan loss charges rose

Derivates products hit High volatility Reduced effectiveness

Quarterly loss

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Financial position

Solid financial position Liquidity buffer Firm solvency ratios

Support Belgian State Flemish Regional Government

Tier-1 ratio 11,2%

Solvency margin 188%

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Conclusion

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Thank you for your attention