Dexia to receive 6.4 bn euros: Belgian PM

Written by Agencies | Brussels, September 30: | Updated: Sep 30 2008, 17:38pm hrs
Belgian Prime Minister Yves Leterme said on Tuesday that the governments of Belgium, France and Luxembourg had agreed to inject 6.4 billion euros (9.2 billion dollars) into embattled Franco-Belgian bank Dexia.

The injection of capital is intended to reassure the stock markets after Dexia shares plummeted by nearly 30 per cent on Monday.

Dexia was founded in 1996 as a merger of France's Credit Local and Belgium's Credit Communal. While it specialises in local government finance, it also has 5.5 million individual clients in Belgium, Luxembourg, Slovakia and Turkey.