Good results for Dexia

It was a strong second quarter for the Belgian arm of the bank and insurance company Dexia. There were 1.6 billion Euros in new deposits at the company’s network of bank branches in the three months from April to June. The total amount of cash deposited at Dexia branches across Belgium is 5.7 billion Euros up on the end of June last year.

Despite the relatively low rates of interest, savings accounts are proving especially popular with total deposits up 21% on the end of June last year.

The amount of money lent is also up by 4%, as mortgage lending has started to rise again.

The company’s insurance activities have also fared well with premiums up by 400 million Euros during the second quarter of 2010.

Dexia’s second quarter results were better than expected.

Net profits were up by 248 million Euros during the second quarter.

Although this is 12% down on the same period last year, it is still 205 million Euros up on what had been predicted by the pundits.