Dexia Group (DEX.L, DXBGF.PK) posted a first-quarter 2013 net loss Group share of 329 million euros. The result for the latest-quarter was impacted by non-recurrent items, in a total amount of negative 103 million euros, including negative 142 million euros by virtue of discontinued activities.
Excluding non-recurring items, net income for the latest-quarter was negative, principally in view of refinancing costs remaining greater than income derived from the asset portfolios, given an unfavourable interest rate environment.
At the end of March 2013, the Dexia Group consolidated balance sheet stands at 265.9 billion euros, down 91.4 billion euros on 31 December 2012.
After a 56 billion euros reduction over the year 2012, the size of the balance sheet continues to decrease in 2013, principally in association with finalisation of the disposal of SFIL on 31 January 2013 (negative 84 billion euros).
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