US natural gas exposure hits Natixis
Natixis, one of the investment banks that has gone furthest to prioritise greener financing, had to ramp up its provisions for credit loss from US natural gas producers in the fourth quarter, pointing to “structural transformation” in the sector. But it told GlobalCapital that it still saw opportunity in the industry.
The corporate and investment bank provisioned for €118m of credit losses in the fourth quarter. The bank overall provisioned €117m — its highest figure in any quarter since 2011. Cost of risk equalled 3.6% of Natixis’s revenues in 2019. Natixis reported its fourth quarter results on Thursday afternoon....
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