November 7, 2019 / 4:57 PM / 3 months ago

French bank Natixis beats Q3 profit forecasts

PARIS, Nov 7 (Reuters) - French investment bank Natixis on Thursday reported higher-than-expected earnings and said it was maintaining its dividend policy, while focusing on reinforcing “existing expertise” rather than on potential acquisitions.

Natixis, which is controlled by unlisted French cooperative bank BPCE, reported a net profit of 415 million euros ($458.24 million) in the third quarter, up from 358 million euros a year ago.

That compared to expectations of a 377 million euros net profit, according to a Reuters survey of 4 analysts.

Its revenue grew in all of its business lines, such as asset and wealth management, corporate and investment banking, and insurance and payments. “In the third quarter of 2019 our revenues grew in line with or faster than our costs in each of our businesses,” chief executive Francois Riahi said in a statement. ($1 = 0.9056 euros) (Reporting by Maya Nikolaeva, Editing by Sarah White)

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