Wednesday May 13, 08:27 AM
Dexia announces 251-million-euro net profit
PARIS (AFP) - Franco-Belgian bank Dexia (Brussels: DEXB.BR - news) , 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 sdhares in the bank shot up by 11.40 percent to 4.70 euros in initial trading.
While 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.
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