Natixis reported on Tuesday that net profit fell by half in the fourth quarter, weighted as its other French competitors from its market operations, where the bank recorded a loss in derivative instruments.
The net result of the listed subsidiary of the mutual banking group BPCE dropped against the quarter to EUR 252 million against 518 million a year earlier.
In December, Natixis issued a fourth-quarter earnings warning due to losses in its share portfolio in Asia.
Over the period from October to December, the corporate and investment bank reported a pre-tax loss of € 49 million against a taxable profit of € 231 million a year earlier.
Throughout the year, market revenue declined by 15%, including a decline of 26% in stocks whose portfolios are currently under review.
The difficulties encountered in market operations in 2018 have led BNP Paribas and Societe Generale to reduce their financial targets and start restructuring their trading divisions.
Natixis expects to pay a dividend of € 0.78 per share for 2018, of which € 0.48 is a special dividend related to the sale of its parent business to its parent.
It reaffirmed the objectives of the 2020 Strategic Plan.
The BPCE Group posted a net profit of 18.2% in the fourth quarter to 588 million euros.
The bank also said it was in exclusive negotiations with Auchan to take 50.1% stake in Oney Bank, the distributor's financial service for payment and consumer credit. (Matthieu Protard, edited by Bertrand Boucey)