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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Dexia posts 1.54 billion euro loss AFP - 2 hours 10 minutes ago PARIS (AFP) - - Bailed out Franco-Belgian bank Dexia said Friday it suffered a third quarter loss of 1.54 billion euros (1.96 billion dollars) as a result of the financial crisis. Dexia said losses directly linked to the crisis totalled 2.19 billion euros while revenue in the three months to September came to only 315 million euros. It blamed some 482 million euros of losses on the collapse of US investment banking giant Lehman Brothers in September and said it aimed to reduce costs by 15 percent over the next three years in a restructuring programme. Without specifying if there would be job losses, the bank said it had already identified cost savings of 300 million euros and saw significantly more in 2009. For the fourth quarter, Dexia warned that its results would suffer again but insisted that its capital base was solid. Dexia has struggled badly in the financial crisis, especially since the Lehman Brothers' collapse, and had to be bailed out by the French, Belgian and Luxembourg governments to the tune of 6.4 billion euros. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo Dexia headquarters in Brussels. Bailed out French-Belgium bank Dexia said it suffered a third quarter loss of 1.54 billion euros (1.96 billion dollars) as a result of the financial crisis. Most Popular – Top Stories Viewed Ancient 4,300-year-old pyramid discovered in Egypt Britney Spears's son hospitalized: statement Earth would be heading to a freeze without CO2 emissions China mulls crackdown on lip-synching Bin Laden is isolated, focused on his own security: CIA View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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