Facts and figures

Here is an overview of the financial position at Belfius, illustrated by the results, balance sheet and the main ratios and ratings.

2017 FY results 950 EN   

Consolidated statement of income and balance sheet 1H 2018

Consolidated statement of income 
(in millions of EUR)
1H 2017
(IAS 39)
1H 2018
(IFRS 9)
 Income
1,136 
1,173 
 Expenses
(662)
(690)
 Gross income
474
483
 Impairments on financial instruments and
 provisions for credit commitments
(24)
(9)
 Impairments on (in)tangible assets
(5)
 
(1)
 Net income before tax
445 
473
 Tax (expense) income
(84)
(138)
 Net income after tax
361
335
 Non-controlling interests
0
0
 Net income Group share
of which
361
335
 Banking group
235
185
 Insurance group (1)
126
149
(1) Contribution of the Belfius Insurance group to the consolidated statement of income
Consolidated balance sheet
(in millions of EUR)
01/01/18(1)
(IFRS 9)
30/06/18
(IFRS 9)
 Total Assets
 of which
167,217
166,951
Cash and balances with central banks 
10,237
11,168
Loans and advances due from credit institutions 
13,802
13,174
Loans and advances 
85,406
87,558
Debt securities and equity instruments
30,776
28,880
Unit linked products insurance activities
2,598
2,824
 Derivatives
16,415
14,995
 Total Liabilities
 of which
157,772
157,063
Cash and balances from central banks 
3,979
3,971
Credit institutions borrowings and deposits 
7,131
7,252
Borrowings and deposits 
76,328
78,125
Debt securities issued and other financial liabilities
28,269
27,040
Unit linked products insurance activities 
2,598
2,824
Derivatives
21,196
19,834
 Total Equity
 of which
9,444
9,888
Shareholders' core equity 
8,788
8,832
Gains and losses not recognized in the statement of income 
657
544
Additional Tier-1 instruments included in equity 
0
497
Non-controling interests 
0
15
(1) IFRS 9 opening balance sheet 

 

Consolidated statement of income and balance sheet 2017

Consolidated statement of income (in millions of EUR)
2016
2017
 Income
2,259 
2,355 
 Expenses
-1,366
-1,369
 Gross operating income
893
986
 Cost of risk
-116
-33
 Impairments on (in)tangible assets
3
 
9
 Pre-tax income
780 
963
 Tax expense
-244
-357
 Net income after taxes
535
606
 Non-controlling interests
0
0
 Net income Group share
535
606
Consolidated balance sheet (in millions of EUR)
31/12/2016
31/12/2017
 Total Assets
 of which
176,721
167,959
Loans and advances due from banks and central banks 
27,114
24,358
Loans and advances to customers 
89,702
90,057
Investments held to maturity
5,393
5,442
Financial assets available for sale
18,820
17,983
Derivatives
25,307
20,303
 Total Liabilities
 of which
167,709
158,438
Due to banks 
12,582
11,110
Customer borrowings and deposits 
74,171
76,274
Debt securities 
25,380
23,226
Derivatives
29,573
21,264
 Total Equity
 of which
9,012
9,521
Core shareholders' equity 
8,694
9,084
Gains and losses not recognized in the statement of income 
318
437

 

Ratio’s

The ratios below are barometers illustrating the financial health of Belfius.


31/12/2014

(IAS 39)

31/12/2015

(IAS 39)

31/12/2016

(IAS 39)

31/12/2017

(IAS 39)

01/01/2018

(IFRS 9)

30/06/2018 

(IFRS 9)

Basel III "phased in" 14,7% 15,9% 16,6% 16,1% - -
Basel III "fully loaded" 13,2 % 14,9% 16,1% 15,9% 16,2% 16,3%
Solvency II (voor dividend) NA 209% (*) 217% 230% - 216%
Solvency II (na dividend) NA 199% (*) 207% 219% - 210%


(1) To determine the Common Equity Tier 1 capital under Basel III, the regulatory authority asks Belfius to apply a prudential deconsolidation of Belfius Insurance and to apply a risk weighting of 370% on the participation after deduction of goodwill. This is commonly known as the “Danish compromise”.

(2) Pro Forma

Ratings

There are three major ratings agencies worldwide. These agencies assess the creditworthiness of a whole range of institutions. Belfius has strong external ratings.

Ratings
Long term rating
Outlook
Short term rating
 Standard & Poor's
A-
Stable
A-2
 Moody's
A2
Positive
P-1
 Fitch
A-
Stable
F2

Ratings as at 26 October 2018

Find out more about Belfius’s ratings