Resilient group revenues hide Natixis capital markets fall
Natixis managed to hold revenues flat from last year, at an eerily precise level of €1.747bn for the fourth quarter in 2010 and 2011. But profit at the French bank fell from €568m to €443m, with almost all of the decline driven by increased credit loss provisions — rising from €51m in the fourth quarter of 2010 to €173m in the fourth quarter of 2011.
These stable figures at group level mask plunging numbers in corporate and investment banking, which saw revenues fall 20% to 588m and profits drop 44% to 151m.
Capital markets saw the worst decline, with revenues down 42% to 215m. Structured financing, which at Natixis and other French banks covers
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