2024-02-13 18:10:13
Arkéa Banking Services, a subsidiary of Crédit Mutuel Arkéa, will manage Dexia’s back-office credit processing, the bank announced on Tuesday. Concretely, Arkéa Banking Services provides Dexia with its complex credit management tools and its teams for the operational management of its credits.
“For the Dexia group, this partnership with Arkéa Banking Services aims to provide a response to the constraints inherent in the management of its activities since its entry into resolution in 2012,” underlines the bank. “It is part of an objective of permanent research to optimize costs and processes and control operational risks on activities that are always diverse and complex but with increasingly low volumes.”
At the beginning of the month, Dexia had already announced that Mount Street would manage its bond portfolio, worth 17 billion euros. Dexia did not indicate the size of its loan portfolio on Tuesday.
Dexia is a former banking institution, 99.6% owned by the Belgian and French states. It entered into orderly resolution in December 2012. Dexia’s mission is to manage its residual assets in liquidation while ensuring that the interests of its shareholders and guarantors are preserved. As of June 30, 2023, Dexia Holding, the group’s parent company, had 515 employees and had a balance sheet total of around 60 billion euros.
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