Financial Results
Record Net New Money, Higher Net Income At Natixis In Q1
The Europe-headquartered financial services group reported a rise in first-quarter net income and said asset management net inflows hit a record.
Natixis, the European
financial services group covering activities including asset and
wealth management, said yesterday that net income in the first
three months of 2015 was €331 million ($375.6 million), a 25 per
cent year-on-year gain.
Net income excluding IFRIC 21 impact was €373 million, a gain of
23 per cent from the same period a year earlier, the firm said in
a statement. (IFRIC 21 provides guidance on when to recognise a
liability for a levy imposed by a government, both for levies
that are accounted for in accordance with International
Accounting Standards and for those where the timing
and amount of the levy is certain.)
Revenues from Natixis’s specialised financial services business
rose 4 per cent in the quarter from a year earlier, including 7
per cent growth in specialised financing, it said.
The first quarter was a “record" one for the firm in asset
management, it said, with €19 billion of net money coming in, of
which €11 billion was in the US business and €8 billion in
Europe. That performance compares with a figure of €28 billion of
net flows – also a record – for all of last year, it said. Global
headcount rose to 3,509 from 3,456 over the three months to the
end of March.
At the end of March, total assets under management stood at €820
billion, it added, a rise of €84 billion since the end of last
year.
