French bank Natixis notches up 10 percent rise in Q3 profits

PARIS, Nov 8 () – Third quarter net profits at French investment bank Natixis rose 10 percent to 422 million euros ($481.54 million), helped by an 8 percent increase in revenues. Natixis, controlled by French privately held bank BPCE, said revenues from asset and wealth management, insurance and payment units rose during the first nine months of the year. Natixis reiterated plans to spend as much as 2.5 billion euros on acquisitions, mainly in asset management and investment banking. It also confirmed that if it could not find any suitable acquisition targets, it would instead pay out a special dividend worth 1.5 billion euros. The bank added on Thursday that it had bought wealth management firm Massena Partners for an undisclosed sum. Natixis also reiterated that it did not plan to make an offer for French payment company Ingenico . Sources told last month that Natixis had approached Ingenico over a possible tie-up. $1 = 0.8763 euros
Reporting by Inti Landauro;
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