Natixis: underlying net profit of E152m in Q3

(CercleFinance.com) - The French bank said that underlying net revenues of the businesses reached 1.
8 billion euros in Q3 20 (-14% vs. Q3 19).

Underlying expenses were down 6% year-on-year in Q3 2020, while underlying net profit was 152 million euros over the period. Net income, group share, adjusted for the impact of IFRIC 21 and excluding exceptional items, amounted to 105 million euros.

Including non-recurrent extraordinary items (-113 million net of tax in Q3 2020) and the impact of IFRIC 21 (+47 million euros in Q3 2020), net income, group share came in at 39 million euros.

Natixis' underlying RoTE was 2.4% in the third quarter of 2020 excluding the impact of IFRIC 21.

9m Underlying NBI came in at 5,134 million euros, down 16% y-o-y. Net income, group share, adjusted for the impact of IFRIC 21 and excluding extraordinary items, amounted to 122 million euros over the period.

Including non-recurrent extraordinary items (-298 million euros net of tax) and the IFRIC 21 impact (-47 million euros), the net loss, group share amounted to -222 million euros. Natixis' underlying RoTE over the first nine months of 2020 was 0.2% excluding the impact of IFRIC 21.

In short, the group said it was, "Back to profitability and strategic orientations preparing the future".



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