BRUSSELS Feb 23 Franco-Belgian state-owned bank
Dexia on Thursday said it made a profit last year and
further reduced its balance sheet, but warned this may not be
repeated in 2017.
Dexia, which had to be bailed out by Belgium, France and
Luxembourg in 2011, said it made a net profit of 353 million
euros ($372.5 million) and cut its balance sheet by 17.5 billion
euros to 212.8 billion.
"However, this result cannot be extrapolated for the future,
since these are the figures of a bank in resolution, which
remains particularly sensitive to the volatility of the
macroeconomic situation," Dexia said in a statement.
Stripped of all of its active businesses, Dexia, once the
world's largest lender to governments and municipalities is now
little more than a large heap of outstanding loans and bonds, of
which the three governments guarantee some 73 billion euros.
($1 = 0.9477 euros)
(Reporting by Robert-Jan Bartunek; editing by Philip