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