Report
Steven Gould

Natixis : A difficult Q1 2020 but uncertainty starting to ease

>Conclusions – beginning to “frame” risks - We think there is a tendency in the market to overestimate the cost of risk for 2020 and 2021 by extrapolating the risk for the most exposed commitment to all the “specific” sector exposures. However, the lowering of the CET1 threshold that determines the surplus capital payable to shareholders is not a support factor in itself: 1/ the payment of shareholders is subject to ECB approval; 2/ depressed valuations increase the a...
Underlying
NATIXIS

Natixis is a player in the European banking industry. As the banking partner of large companies in France, Co. also plays an active role in serving financial institutions (banks, insurance companies, pension funds, etc.). Co.'s activities are divided into in three main business lines: Wholesale Banking, Investment Solutions (Asset Management, Private Banking, Insurance, and Private Equity) and Specialized Financial Services. Co. operates in four geographical regions: France; other EU countries; North America (Canada, USA); and other OECD countries. As of Dec. 31 2013 Co.'s total assets totaled Euro510,131,000,000.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Steven Gould

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