CORRECTED-Dexia first-half net loss narrows

Fri Aug 8, 2014 4:40am EDT

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(Corrects comparative period to H213 from H113)

BRUSSELS Aug 8 (Reuters) - Nationalised Franco-Belgian financial group Dexia reported a smaller net loss for the first half of 2014, as it benefited from lower funding and risk costs.

The bank, 94 percent owned by the Belgian and French states, said its net loss in the first half was 178 million euros ($237.83 million) before one-off items, 127 million euros less than in the second half of 2013.

The group has become almost irrelevant as an investment but its quarterly results matter because France, Belgium and, to a lesser extent, Luxembourg are guaranteeing its borrowings by up to 85 billion euros. ($1 = 0.7484 Euros) (Reporting by Robert-Jan Bartunek; Editing by Subhranshu Sahu)

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