- July 8, 2021
- Posted by: Stratford Team
- Category: Business
PARIS, July 8 (Reuters) – French bank BPCE, which is in the process of delisting its Natixis (CNAT.PA) investment banking arm, announced plans on Thursday to increase profits by 2024, partly by increasing its focus on sustainable investing.
BPCE said plans to diversify Natixis’ business lines should result in around 500 million euros ($590 million) of additional revenues for Natixis Corporate & Investment Banking in 2024.
It would also put environmental, social and governance (ESG) work at the centre of its asset management and insurance arms, targeting more than 600 billion euros in assets under management in the sustainable or impact investing category for Natixis Investment Managers, representing 50% of total assets under management by 2024.
BPCE, which runs France’s second-biggest retail bank network behind market leader Credit Agricole…