French bank Natixis said that its private banking unit had assets under management EU424.7bn at the end of December 2014, increased 10% of compared with the year ago.
The division posted net revenues of EUR33m for the quarter ended 31 December 2014, down 10% from EUR37m a year ago.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Net inflows at the unit were EUR1.4bn, compared to EUR0.3bn a year ago.
The asset management business of the French bank generated net revenues of EUR599m for the fourth quarter, a rise of 17% compared to EUR511m in the year ago quarter.
The asset management unit’s total assets under management for 2014 grew 17% to EUR736bn from EUR629bn driven by net inflow of EUR28bn, EUR45bn of positive currency and structure effects and a EUR34bn positive market effect.
Overall, the group’s net income for the fourth quarter of 2014 rose 6% to EUR215m from EUR161m in the prior year quarter.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNatixis CEO Laurent Mignon said: "All our businesses made progress and exceeded their revenue targets in France and abroad, notably fuelled by excellent performances in Investment Solutions – Asset Management and Insurance – and by the rollout of the Originate-To-Distribute model in Wholesale Banking."
