Franco-Belgian banking group, Dexia, have reported a EUR 83 million loss in their third quarter, bringing their total losses to EUR 988 million over the first nine months of this year.

The decrease is less than in previous quarters, partly due to the improving economic situation in Europe. However, a large proportion of these were offset by the sale of Sofaxis, Dexia’s insurance arm, which was finalised on 30 September.

The Belgian bank also finalised an agreement for the sale of Dexia Asset Management to New York Life Investments on the 25th September. The divestment, amounting to EUR 380 million, will be executed by the end of 2014’s first quarter.

In addition, Dexia finalised two more sales. Their 50% holding in Domiserve, a personal services operator, was sold to Axa Assistance Participations and its holding in Public Location Longue Duree (Public LLD) was sold to Arval Service Lease.

The group’s overall balance sheet remains at EUR 238 billion, EUR 119 billion less than at the end of 2012 and EUR 9 billion less since the last quarter.