French bank Natixis said that its private banking unit’s assets under management increased 10% to EU427.2bn at the end of June 2015, compared with year-end 2014.
The division posted net revenues of EUR70m for the first half of 2015, up 9% from EUR64m a year ago.
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Net inflows at the unit were EUR1.1bn in the first half of 2015, a 15% rise compared to the year ago period.
The asset management business of the French bank generated net revenues of EUR1.27bn for the first half of 2015, a rise of 25% compared to EUR51.06bn a year ago.
The asset management unit’s total assets under management totalled EUR812bn at end of June 2015 compared to EUR820bn at end of March 2015.
Overall, the group’s net income for the first half of 2015 rose 13% to EUR729m from EUR644m a year ago. Natixis’s net revenues grew 12% in first half compared to the year ago period, including a 13% increase in core-business revenues.
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By GlobalDataNatixis CEO Laurent Mignon said: "Revenues and profitability in our three core businesses are improving. The weight of our international operations is increasing, as shown by the marked rise in business, notably in Asia in the Corporate & Investment Banking.
"The acquisition of DNCA is now complete and further expands the weight of Investment Solutions in our overall business mix. The significant reductions in our risk-weighted assets and balance sheet reflect the success of our asset-light model, fully devoted to constructing client-centric financial solutions."
