Natixis Fourth-Quarter Profit Up 39%, Plans Exceptional DividendBy
Net income rises to 316 million euros from a year earlier
Revenue from capital markets increases 14% in that period
Natixis SA, the investment-banking unit of France’s second-largest bank by branches, posted a 39 percent increase in fourth-quarter profit as trading revenue rose.
Net income rose to 316 million euros ($354 million) from 228 million euros a year earlier, the Paris-based bank said in a statement on Wednesday. Revenue from capital markets increased 14 percent in that period. The bank plans to pay an exceptional dividend of 10 cents per share on top of a 25 cent ordinary payout for 2015.
Natixis, led by Chief Executive Officer Laurent Mignon, said revenue at its key units are growing in line or faster than its 2017 targets as it invests in businesses such as insurance and advisory. Natixis agreed to buy a majority stake in Peter J. Solomon to expand its advisory activity in the U.S., it said in a separate statement.
The shares have dropped about 21 percent this year.
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