July 31, 2014 / 3:52 PM / 3 years ago

Natixis net profit rises 29 pct, confirms wound up bad bank

PARIS, July 31 (Reuters) - French bank Natixis reported second-quarter net profit rose 29 percent to 33 million euros ($44 million) on Thursday and confirmed it had at the end of June wound up "bad bank" GAPC, set up after the 2008 financial crisis to hold toxic assets.

Net revenue rose 9 percent to 2.024 billion euros, the bank said.

The listed arm of mutually-owned BPCE also said its asset management unit had a record 17 billion euro net inflow in the first half compared with 13.4 billion across 2013.

It had 680 billion euros of assets under management at end-June, and its insurance arm saw a 21 percent increase in net revenue from a year earlier.

Its second-quarter provision for credit losses was 82 million, down 15 percent from a year earlier. (1 US dollar = 0.7473 euro) (Reporting by Andrew Callus; Editing by James Regan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below