Natixis: 'positive earnings capacity' - despite context

(CercleFinance.com) - Announced after trading on Wednesday, Natixis' quarterly results were marked by a positive earnings capacity of 60 million euros, despite certain volatile items that impacted the quarter.


The group reported a loss of 204 million euros over the period, in particular due to the Coface deal. The CET1 Basel 3 full-loaded ratio is 11.4%, +310 bp above regulatory requirements

"Quarter marked by mechanical market effects (linked to the COVID-19 context) thus mostly reversible," it said.

"Our results in the first quarter of 2020 were characterized by the unprecedented environment, which had a significant asset and liability mark-to-market effect under IFRS rules, reversible depending on market evolution and that has a noticeable impact on our accounts. Despite such effect, our earnings capacity remains positive taking into account the exceptional impact stemming from the sale of a ~30% stake in Coface at a pre-crisis price and if we smooth over the year the regulatory taxes and contributions that we pay upfront every first quarter," CEO François Riahi said.


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