KEY FIGURES
Net banking income at 31st December 2010: 255 million Euros
Assets under management at 31st December 2010: 22 billion Euros
Consolidated average headcount at 31st December 2010: 767
Group consolidated net income in 2010: 81.5 million Euros
SHAREHOLDER’S EQUITY
The Group has a consolidated equity after distribution of 379 million Euros at 31st December 2010.
GROUP FINANCIAL RATIOS
With regard to regulations, the Group is required to conform to Basle II solvability ratios and liquidity ratios. Our ratios are three times higher than the minimum requirements, placing the Oddo Group far above the European banks.
- Solvability ratio* at 31st December 2010: 420%
- Liquidity ratio** at 31st December 2010: 451%
Indeed, the Group’s vocation is not to commit its balance sheet to the service of companies, but to be a market specialist acting essentially as a service provider. We do not provide credit to companies, which means we do not invest our equity over the long term. Contrary to market practices, our refinancing policy excludes calling on own funds.
RATING
Oddo & Cie has been awarded investment grade credit ratings*** by two ratings agencies, Moody’s and Fitch Ratings.
The Group is rated BBB+ (Fitch) and Baa2 (Moody's) for long-term and F2 (Fitch) and P2 (Moody's) for short-term. The Group had a 2010 net banking income of 255 million Euros.
* Solvability is the ability to guarantee the relatively long-term future with no risk of being in default. It is also a company’s ability to fulfil its financial commitments at any given moment.
** Liquidity is the ability to cover immediate financial commitments
*** Investment grade ratings are credit ratings awarded by ratings agencies that are between AAA and BBB-. They correspond to a low risk level.