Natixis released its Q1 17 numbers. Total revenues at €2.35bn are 5% higher than consensus’ expectations and 8% higher than our own forecasts. Total expenses at €1,771m are therefore mechanically higher than expectations (respectively 5% and 9% higher than consensus’ forecasts and ours). With loan losses in line with expectations, profit before tax is 6.7% higher than consensus’ expectations and 11% higher than ours. The pro forma CET1 ratio at 11% is 20bp higher q
09 May 2017
A strong set of results
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
A strong set of results
- Published:
09 May 2017 -
Author:
Farhad Moshiri -
Pages:
3
Natixis released its Q1 17 numbers. Total revenues at €2.35bn are 5% higher than consensus’ expectations and 8% higher than our own forecasts. Total expenses at €1,771m are therefore mechanically higher than expectations (respectively 5% and 9% higher than consensus’ forecasts and ours). With loan losses in line with expectations, profit before tax is 6.7% higher than consensus’ expectations and 11% higher than ours. The pro forma CET1 ratio at 11% is 20bp higher q