AXA Bank Europe

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Key financial information
AXA Bank Europe is an integral part of the AXA Group as it supports its Life & Savings activities in order to fulfill our customers’ needs.
Moreover, AXA Bank Europe constitutes a strategic priority for the Group and can rely on its financial strength.

AXA Bank Europe’s activity indicators (FY 2009) are good in the current financial environment:
- Solvency position : Core Tier 1 ratio of 21,74% (31/12/2010)
- S&P rating : 'A+/A-1' with 'Negative' outlook (9/12/2011)
- Moody’s: A2/P-1: stable (23/11/2011)

General Risk Profile
AXA Bank Europe’s core business is retail banking based on simple product offers. It is not involved in Investment banking, corporate banking, structured finance or trade finance.

Its treasury and financial market activities are limited as AXA Bank Europe maintains a very conservative approach to market risks, Asset & liability management and interest rate risk management.

As such, being a retail bank, AXA Bank Europe’s risk management policy is based on following key principles:

A qualitative retail credit risk portfolio
A high quality sovereign, local authorities, international institutions and bank counterparties portfolio
Standard operational risks
Prudent market, asset & liability and interest rate risk

Please find herewith ABE's 2010 Disclosure Report (pdf) prepared in accordance with Basel II Pillar III requirements.
2009 report can be consulted here

AXA Bank Europe - Covered Bonds 22/03/2011
AXA Bank Europe, ABE (S&P: A+/A-1) is the bank entity positioned as core to AXA Group's strategy. AXA Bank is a major player in the Belgian mortgage market. As part of the AXA Group development strategy, ABE has developed its own funding platform using a legal French covered bond structure relying on one of its core activity, prime Belgian residential mortgage loans.

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