Natixis has released its Q2 17 numbers. Total income at €2.4bn is far above expectations and our own expectations (respectively 8% and 8.3%). Despite this strong growth, total expenses were still under control at €1.6bn, 3.3% above consensus’ forecasts and 7.7% above ours. With loan losses in line with expectations, profit before tax at €831m is 20% above expectations and 13% above our own forecasts. The CET1 ratio at 11.3% is 30bp higher qoq.
02 Aug 2017
A strong set of results...
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A strong set of results...
- Published:
02 Aug 2017 -
Author:
Farhad Moshiri -
Pages:
3
Natixis has released its Q2 17 numbers. Total income at €2.4bn is far above expectations and our own expectations (respectively 8% and 8.3%). Despite this strong growth, total expenses were still under control at €1.6bn, 3.3% above consensus’ forecasts and 7.7% above ours. With loan losses in line with expectations, profit before tax at €831m is 20% above expectations and 13% above our own forecasts. The CET1 ratio at 11.3% is 30bp higher qoq.