KBC and Dexia, Belgian and Franco-Belgian establishments respectively, posted a substantial improvement in their third-quarter earnings, while expressing even more optimism about their restructuring plans which are presently under EU scrutiny and await approval from the organization.

Beating analysts' expectations by a large margin, KBC posted a 15% rise in net profits for the July-September period for the current year on the back of increased earnings through merchant banking, which more than doubled. Dexia, on the other hand, reported a third quarter profit which was in-line with the expectations pegged, thanks to strict cost cuts.

Post the revelation of the reports, KBC shares gained 2.2% to trade at 32.50 Euros, putting it in the list of top 10 gainers in the market. Dexia shares, however, remained unchanged (slight fall of 0.1%) and stood at 5.682 Euros per share.

Both the companies, after the improved earnings, are now awaiting the EU approval much more eagerly, so that changes can be implemented as soon as possible in order to reap even more benefits in the coming quarters. No details on the plans have, however, been shared by either of the firms. While KBC is likely to get a decision by December, Dexia will have to wait till February next year.