Profits up 50% at new-look Natixis IB
A rebound in capital markets revenue has helped drive profits up by 50% at Natixis’ wholesale banking division in the third quarter. The figures came in the French bank’s first quarterly results since implementing the last part of an overhaul of its investment banking model, in August.
Third quarter profits at the wholesale banking division were 175m, up by half from the same quarter of 2011.
That was based on revenues of 686m in the division, an increase of 18% at constant exchange rates, in what Natixis said was a "less adverse environment". Rebounding capital markets
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