Natixis released its Q1 16 earnings this morning. Total revenues at €2.08bn are 0.5% short of expectations. Expenses were 2% higher than forecasts due to a higher contribution to the Single resolution fund and expenses in the CIB. Cost of risk at €88m, although higher than the Q1 15 number of €78m, is in line with expectations. Reported profit before tax at €407m (of which -€13m non-operating items) is therefore 8% lower than forecasts. The fully-loaded CET1 ratio (af
10 May 2016
Earnings miss expectations on the back of higher expenses...
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Earnings miss expectations on the back of higher expenses...
- Published:
10 May 2016 -
Author:
Farhad Moshiri -
Pages:
3
Natixis released its Q1 16 earnings this morning. Total revenues at €2.08bn are 0.5% short of expectations. Expenses were 2% higher than forecasts due to a higher contribution to the Single resolution fund and expenses in the CIB. Cost of risk at €88m, although higher than the Q1 15 number of €78m, is in line with expectations. Reported profit before tax at €407m (of which -€13m non-operating items) is therefore 8% lower than forecasts. The fully-loaded CET1 ratio (af