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Natixis posts 15% YOY rise in Q1 profit on asset management, insurance

Natixis, the investment bank of French banking group Groupe BPCE, reported a 15% year-over-year rise in first-quarter net profit, boosted by growth in its asset management and insurance businesses.

Net profit totaled €323 million, while revenues rose 3% year over year to €2.41 billion. Net revenues at its asset management division rose 10% to €777 million, while insurance net revenues rose 8% to €204 million. At the bank's corporate and investment banking unit, net revenues fell 3% to €938 million, hit by a 15% drop in equity revenues.

The bank's fully-loaded common equity Tier 1 ratio — a key measure of financial strength — stood at 10.7% on March 31, up from 10.6% at the end of 2017.

At BPCE, parent of retail banks Banque Populaire SA and la Caisse d'Epargne, net profit attributable to equity holders of the parent fell 3.7% year over year to €634 million due to regulatory contributions. Net banking income fell 0.8% year over year to €6.02 billion on the dollar's decline against the euro.