Filip Dierckx, President of Febelfin, the Belgian financial sector association and former CEO of BNP Paribas Fortis met a group of senior business representatives over a lunch sponsored by Hill + Knowlton Strategies.
He gave a presentation on the experience of Belgian banks during and following the financial crisis of 2008 and their response. He argued that banks had seen significant changes in response to the crisis with reduced balance sheets, increased equity and dramatically reduced leverage. In a detailed presentation, he also addressed the current challenges that the sector faces including the demands of the BASEL III agreement on capital adequacy and market liquidity risk, and considered policy responses at the domestic, EU and international levels. The key challenges covered solvency, liquidity and profitability but also the economic and political environment and negative public perceptions.
Mr Dierckx went on to answer questions on up to the minute and topical questions. These included the impact of events in Greece and the Eurozone, bankers pay (both in Belgium and internationally), the low level of returns to domestic savers and the role of banks when some major corporations have better credit ratings than some banks.
Many thanks to Hill + Knowlton Strategies for sponsoring the event
Topic of the discussion: Lessions Learned from the banking crisis. What is the way forward with the Basel III regulation
Speaker: Filip Dierckx, Chairman – Febelfin
Wednesday, 29 February 2012