Arab Today, arab today stricken dexia bank reports loss of €286bn
Last Updated : GMT 15:59:42
Arab Today, arab today
Arab Today, arab today

Stricken Dexia bank reports loss of €2.86bn

Arab Today, arab today

Arab Today, arab today Stricken Dexia bank reports loss of €2.86bn

Paris - AFP

French-Belgian bank Dexia, on state life-support while being unwound, reported on Thursday a net loss of 2.86 billion euros for 2012 owing to losses on divestments and the cost of rescue financing. The bank said that the cost of emergency funding from the European Central Bank, and of a temporary guarantee from the French, Belgian and Luxemburg states, amounted to nearly 1.0 billion euros ($1.32 billion). The negative impact of asset sales was 1.60 billion euros. In 2011, the bank had reported a loss of 11.63 billion euros. Dexia bank specialises in funding local authorities but in Belgium it is also known for retail banking activities. In 2012 the bank obtained approval from the European Commission to continue unwinding its activities over several decades rather than going into immediate liquidation. The European Commission approved the principle of a new guarantee from the three states amounting to 85 billion euros, and a recapitalisation of 5.5 billion euros funded by France and Belgium.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today stricken dexia bank reports loss of €286bn Arab Today, arab today stricken dexia bank reports loss of €286bn

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today stricken dexia bank reports loss of €286bn Arab Today, arab today stricken dexia bank reports loss of €286bn

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday