French-Belgian bank Dexia, twice bailed out and now being closed down in a state-funded programme, reported Thursday a 2013 net loss of more than one billion euros.
The 2013 net loss of 1.08 billion euros was less than half 2012's 2.86 billion euros
In 2011, the bank suffered a massive loss of 11.63 billion euros, sparking a second rescue by the French and Belgian governments who first bailed it out in 2008 as the global financial crash spread.
Dexia said the 2013 results were in line with forecasts made for the winding up of the business.
In 2012, Dexia obtained approval from the European Commission to continue unwinding its activities over several decades rather than going into immediate liquidation.
Last year, French government auditors estimated that the bank's rescue had cost Paris 6.6 billion euros, with Belgium likely facing a similar bill.
French-Belgian bank Dexia, twice bailed out and now being closed down in a state-funded programme, reported Thursday a 2013 net loss of more than one billion euros.
The 2013 net loss of 1.08 billion euros was less than half 2012’s 2.86 billion euros
In 2011, the bank suffered a massive loss of 11.63 billion euros, sparking a second rescue by the French and Belgian governments who first bailed it out in 2008 as the global financial crash spread.
Dexia said the 2013 results were in line with forecasts made for the winding up of the business.
In 2012, Dexia obtained approval from the European Commission to continue unwinding its activities over several decades rather than going into immediate liquidation.
Last year, French government auditors estimated that the bank’s rescue had cost Paris 6.6 billion euros, with Belgium likely facing a similar bill.
