PARIS, May 9 (Reuters) - Natixis reported a 40 percent rise in net income for the first quarter on Tuesday, as trading activity at the French bank surged, echoing a similar performance among its peers.
The investment banking-focused company said quarterly net income rose to 280 million euros ($304.9 million) driven by stronger revenue in fixed income and equities trading, as well as asset management.
“Activity levels in global markets were especially high and our asset management business also attracted renewed net inflow in the USA,” Natixis chief executive Laurent Mignon said in a statement.
Along with other European and U.S. banks, Natixis benefited from a wave of trading in stocks and bonds following Donald Trump’s shock victory in the U.S. presidential election last November.
$1 = 0.9184 euros Reporting by Maya Nikolaeva and Julien Ponthus; Editing by Sudip Kar-Gupta