Its net income for the latest quarter dropped to EUR302m ($400.4m) from EUR442m during the same period a year earlier. Excluding one-time charges, profit was EUR346m this year and EUR501m last year.
The bank witnessed lower net banking income at EUR1.73bn against EUR1.75bn during the same period one yearago, with the contribution from core businesses dropping to EUR1.40bn from EUR1.51bn. Corporate and Investment banking revenues declined 20% to EUR588m during the stipulated period.
Natixis CEO Laurent Mignon said the bank will continue to adapt its business model, with the plan to further reduce liquidity needs and risk-weighted assets. All these actions and the mobilization of our teams will enable us to meet Basel III capital requirements as of 1 January 2013.
Earnings before tax at the investment solutions division, which includes asset management, insurance and private banking, dropped 15% to EUR122m.
Natixis has gained 20% in Paris trading this year, giving the company a market value of EUR7.2 bn.
