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For the same three-month period of 2008, the public finance specialist posted a loss of €1,544 million (£1,380 million); however, this year it has revealed a profit of €274 million.
Pierre Mariani, chief executive of Dexia, said the progress seen over the last 12 months has been "sizeable" and that the figures highlight that his organisation is a profitable one.
It is the third quarter in a row that the company has made money and he explained it is starting to make up for last year's performance.
"Already the amount of Dexia's guaranteed debt is reducing sharply," Mr Mariani commented.
The profit, which surpassed the average expectation of a Reuters panel of nine experts by €5 million, was aided by a year-on-year cost reduction of ten per cent.
Posted by Chris Weaver
