The French bank pushes back its strategic plan until the end of 2021 as despite ‘strong’ results for fixed income, investment banking and M&A, other businesses, including financing and equity derivatives, ‘were impacted negatively’ by the Covid crisis.

Natixis reported net revenues in Q1 2020, at €1.7 billion, were down 11% from the prior year quarter. Revenues were negatively impacted, directly or indirectly by Covid 19, for a total amount of €290m, of which approximately €160m is ‘reversible’, depending on market evolution. Underlying revenues in corporate and investment banking (CIB) saw a €-55m CVA/DVA (credit/debit value adjustment) impact due to spreads widening on the back of perceived counterparty credit risk deterioration (compared

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