November 7, 2017 / 4:44 PM / a year ago

French bank Natixis' Q3 profits rise, beating expectations

PARIS, Nov 7 (Reuters) - Investment bank Natixis said on Tuesday that its third-quarter net income had increased by 29 percent, as a strong rise in asset management and insurance sales helped offset a weaker environment for trading.

Natixis, majority owned by retail banking group BPCE, said net income rose to 383 million euros ($443 million). Analysts had expected a 15 percent increase in profits to 342 million euros, according to a Reuters poll.

Revenues rose 15 percent over the period to 2.21 billion euros, Natixis added.

"These achievements provide a sound basis to begin executing on our new strategic plan which will be unveiled on November 20," the bank said in a statement.

$1 = 0.8645 euros Reporting by Maya Nikolaeva; Editing by Sudip Kar-Gupta

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