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    Friday, November 13, 2009

    Dexia Swings To Net Profit, EC Talks Ongoing

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    By Sarah Turner
    MarketWatch Pulse
       

      LONDON -- Dexia said Friday that it swung to a net profit of 274 million euros in the third quarter of 2009. Last year the firm posted a net loss of 1.5 billion euros. Income rose to 1.4 billion euros, from 315 million euros a year ago. The lender said that it produced the quarterly profit after equity markets rebounded and spreads on fixed income markets tightened significantly. "Discussions with the European Commission regarding the restructuring of Dexia are continuing in an open and constructive climate," the bank added.

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