November 14, 2012 / 4:53 PM / 5 years ago

Natixis eyes new cost cuts as profit slides

PARIS, Nov 14 (Reuters) - French bank Natixis on Wednesday heralded a new phase in its strategic overhaul plan, unveiling an effort to cut 300 million euros ($382 million) in additional expenses between now and the end of 2014.

Natixis, an investment bank and asset manager controlled by unlisted cooperative lender BPCE, also reported a 59 percent drop in third-quarter profit to 142 million euros as it was squeezed by accounting charges on its own debt and a continuing programme to sell off risky assets. ($1 = 0.7856 euros) (Reporting by Christian Plumb; Editing by James Regan)

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