Natixis Q2 2016 Earnings results
Despite headwinds, Natixis’ net revenues reached €2.224 billion, of 2% increase year over year on Q2 2015, with net income (group share) rising 5% to €400 million vs Q2 2015. The bank also significantly reinforced its solvency, such that its Equity Tier 1 ratio now stands at 11% - 40 basis points higher than at the start of the year.
Natixis’ Investment Solutions Division, which includes Asset Management, Insurance and Private Banking, showed its resilience with net revenues in the first half of 2016 close to €1.7 billion. Diversification of the business continued, including a new asset allocation policy in the Insurance Division, which has been designed to limit the impact of low interest rates.
In particular, Asset Management’s pre-tax profits were up 3% in the first half of 2016, with Q2 2016 net revenues of € 623 million (vs. € 633 million year over year). Overall, asset management’s revenues held up well in Europe on the back of the expansion of the multi-affiliate model to offset the slowdown in the U.S. market.
In a challenging environment, asset management’s assets under management were €10 billion higher than at end of March 2016. Europe witnessed limited outflows in Q2 2016 of €0.9 billion and was able to enjoy net inflows of close to €7 billion in the first half of 2016.
Overall, assets under management at Natixis Global Asset Management as of June 30, 2016 totalled €786.6 billion ($874.5 billion), compared to €776.4 billion ($884.9 billion) at the end of the first quarter. In the United States, assets under management were $423.8 (€381.2 billion) as of June 30, 2016, and in Europe, our assets reached €436.6 billion ($392.7). Asian assets were $7.6 billion (€6.8 billion) with assets in the Private Equity Division being €5.8 billion ($6.5 billion).
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced, are as of 13 June 2016 and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material. This material may not be distributed, published, or reproduced, in whole or in part. Although Natixis Asset Management and AEW Europe believe the information provided in this material to be reliable, it does not guarantee the accuracy, adequacy or completeness of such information.
Natixis Global Asset Management S.A
Limited liability company /
Share capital: €156 344 050
RCS Paris no. 453 952 681
Headquarters: 21 quai d’Austerlitz - 75634 Paris Cedex 13 - France