Arab Today, arab today dexia posts 12 bn euro firsthalf loss
Last Updated : GMT 21:34:07
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Arab Today, arab today

Dexia posts 1.2 bn euro first-half loss

Arab Today, arab today

Arab Today, arab today Dexia posts 1.2 bn euro first-half loss

Paris - AFP

Failed Franco-Belgian banking group Dexia reported a 1.2-billion-euro loss in the first half of 2012 linked mainly to interest payments on state bailouts from France, Belgium and Luxembourg. The bank said in a statement that results were also hit by a 184 million euro ($224 million) charge on its stake in Kommunalkredit Austria. Trading in Dexia shares was briefly suspended in Paris and Brussels after results were published at 0700 GMT, two hours later than planned, because of a computer glitch, Belgian financial markets authority FSMA said in a statement. Dexia shares were stable at 0.21 euros after trading resumed, having lost 8.7 percent on Thursday. Belgium, France and Luxembourg in June raised the amount of state guarantees backing the remnants of Dexia from 45 billion euros to 55 billion euros. First bailed out in 2008 amid the global financial crisis, Dexia was not able to survive subsequent turmoil created by the eurozone debt crisis and in October the three eurozone countries stepped in to wind up the bank. European banks are back in the spotlight as a pernicious, interconnected sovereign and banking debt crisis takes a sharp turn for the worse with major problems in Spain.  

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