PARIS May 6 French bank Natixis
reported a 3 percent rise in underlying net income for the first
quarter on Tuesday and said it was on track to meet its
2014-2017 dividend payout targets.
Investment-bank-focused Natixis said quarterly net income
rose 3 percent to 303 million euros ($420.52 million) -
excluding own-debt charges and one-off items - after a rebound
in equities and a strong rise in asset management and insurance
sales helped offset a grim environment for bonds.
The bank, which was rescued from near-collapse during the
crisis by its cooperative retail-banking parent BPCE, said it
was still on track to deliver a dividend payout ratio of at
least 50 percent as part of its 2014-2017 strategy.
($1 = 0.7205 Euros)
(Reporting by Lionel Laurent and Maya Nikolaeva)