The private banking unit of French bank Natixis assets under management (AuM) of EUR26.7bn in the first quarter of 2015, up 15% compared to the corresponding quarter of 2014.
For the quarter ended 31 March 2015, the unit’s net inflow increased to 0.7bn from 0.4bn in the prior year quarter.
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The bank’s asset management unit generated net inflow of 19bn for the first quarter, out of which 8bn came from Europe and 11bn from the US.
The division’s revenues stood at EUR639m, a surge of 31% from a year earlier.
Assets under management of the unit increased to EUR820bn from EUR736bn at end-December of last year, driven by high inflows, EUR18bn positive market effect as well as EUR47bn of positive currency and perimeter effects.
Commenting on the results, Natixis CEO Laurent Mignon said: "Our three core businesses performed very solidly in first-quarter 2015, posting sharp increases in both revenues and profitability. Our key franchises continued to expand, driven particularly by record net inflow in Asset management and robust momentum in Capital markets within Wholesale Banking, and by the continued rollout of our insurance and SFS offerings to the Groupe BPCE networks.
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By GlobalData"This progress was achieved without any let-up in our control on the consumption of scarce resources: with risk-weighted assets holding steady, our balance-sheet contracted markedly during the quarter. These performances confirmed Natixis’s solid financial structure and reasserted the Bank’s payout policy."
