Good news from Dexia, bad news from ING

The banking group Dexia made a net profit of 251 million euros during the first quarter of 2009. The results are much better than the 88 million euros that had been predicted by financial analysts.
Despite the current recession, net profits for the first quarter of 2009 were down just 38 million euros on the 289 million euros recorded during the first quarter of last year.

The figures are a big improvement on the 2,600 million euros losses that the bank recorded during the final quarter of 2008.

Dexia saysthat the bank's solvency position is improving all the time.

ING makes big losses

The bank and Insurance company ING has made a disappointing start to 2009.
The company lost almost 800 million euros during the first quarter off the year.

This is well above the 451 million euros in net losses that had been predicted by financial analysts.

The figures are in stark contrast to the first quarter of 2008, when ING made profits of 1,500 million euros.