August 2, 2018 / 3:50 PM / 19 days ago

French bank Natixis reports higher Q2 profits

PARIS (Reuters) - French bank Natixis said its second quarter net profits had risen by 19 percent, buoyed by its asset and wealth management businesses, as well as its payment services unit.

The logo of French bank Natixis is seen outside one of their offices in Paris February 18, 2013. REUTERS/Charles Platiau/File Photo

Its 580 million euro (£516.76 million) net profit was higher than the 497 million euro average forecast made by analysts polled by Inquiry Financial consultancy on behalf of Reuters.

Natixis, the corporate banking division of unlisted French bank BPCE, said its asset and wealth management units performed strongly during the quarter as did its payment services unit, although its investment banking and trading arms underperformed.

Reporting by Inti Landauro; Editing by Sudip Kar-Gupta

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