May 6, 2014 / 3:52 PM / in 3 years

Natixis says Q1 profit up 3 pct, reaffirms targets

PARIS, May 6 (Reuters) - 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)

Our Standards:The Thomson Reuters Trust Principles.
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