PARIS (Reuters) – French bank Natixis reported a better than expected rise in second-quarter profits to 487 million euros ($575 million) on Tuesday, benefiting from a bumper quarter for its investment banking business.
It outperformed U.S. and European rivals in fixed income and share trading, as its investment banking division’s quarterly revenues reached a record 1 billion euros.
Natixis is near to completing a restructuring aimed at cutting costs and has been focusing on so-called asset-light businesses, such as asset management, insurance and payment services, in an effort to adapt to tougher European capital requirements.
Source: Reuters
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