Dexia announces 25mln euro net profit, shares surge
Franco-Belgian bank Dexia, the target of a major bailout late last year, announced a 251-million-euro net profit for the first quarter on Wednesday after losses of 3.3 billion euros for 2008.
The price of shares in the bank shot up by 11.40 percent to 4.70 euros in initial trading.
Although the result was 13.1-percent lower than net profits over the same period last year, it followed a 2.6-billion-euro (3.6-billion-dollar) loss posted for the fourth quarter of 2008.
In the first quarter, negative factors from the crisis cost the bank 431 million euros compared with charges of 3.2 billion euros in the last quarter of last year.
Copyright 2009 AFP Global Edition
