SOURCE: Natixis

August 26, 2009 02:27 ET

NATIXIS : RESULTS AT JUNE 30, 2009

PARIS--(Marketwire - August 26, 2009) -


Natixis gets in marching order with a new strategic plan targeted to 2012

Natixis enters a new phase with the launch of a clear strategy built around three business lines: CIB, Savings and Specialized Financial Services. Now operating in an improved and stabilized financial context following the guarantee by the BPCE of GAPC assets, Natixis has affirmed its objectives of growth and a return to profit for the second half of 2009. The 2012 ROE objective is over 12%.

- A new strategy built around three core business lines, adapted to the new risk profile and a strong customer focus.

- BPCE will cover roughly EUR 35 billion of GAPC assets through a guarantee that will remove the volatility of these assets' results, allowing Natixis to focus on its new strategic direction.

- Natixis reinforces its financial solidity with a pro-forma Tier 1 ratio of 9.3% and a pro-forma Core Tier 1 ratio of 8.2%.

2009 Quarter 2 Results[1]

- Exceptional items have affected the Q2-09 results:

An in-depth review of Natixis' assets conducted by international financial experts has concluded that the existing portfolio is correctly valued at June 30, 2009, taking into account an additional provision.

Natixis has included an additional provision of EUR 748 million in a number of sensitive business sectors (real estate, LBO).

+-------------------------+--------------------+
|Q2-09 group results      |Q2-09 results on    |
|                         |continuing          |
|                         |activities          |
+-------------------------+--------------------+
|NBI: EUR 568 million     |NBI: EUR 1,276      |
|                         |million             |
+-------------------------+--------------------+
|U/l Income before tax    |U/l Income before   |
|EUR 262 million[2]       |tax EUR 409         |
|                         |million[3]          |
+-------------------------+--------------------+
|U/l net income (gp.      |GOI: EUR 229 million|
|share): -EUR 841 million |                    |
+-------------------------+--------------------+
|Net income (gp. share):  |U/l net income (gp. |
|-EUR 883 million         |share): -EUR 181    |
|                         |million             |
+-------------------------+--------------------+
|Pro-forma core Tier One  |Net income (gp.     |
|Ratio: 8.2%[4]           |share): -EUR 212    |
|                         |million             |
+-------------------------+--------------------+

Natixis' consolidated accounts were approved by the Board of Directors on August 25, 2009.

Thanks to this new strategy and belonging to a major banking group, BPCE, France's second largest bank, Natixis is now back on track for a return to profit while fully assuming its role as a customer-focused bank at the service of economic players.

[1] The Q2-09 financial statements include the sale of 35% of CACEIS, which is no longer proportionally consolidated. All the previous series featured in this press release have been restated to take this disposal into account. Please refer to the explanations in the Details on methodology section.

[2] Excluding CPM, reinforcement of the overall risk coverage in certain portfolios and GAPC provisions

[3] Excluding CPM, reinforcement of the overall risk coverage in certain portfolios

[4] Taking into account the impact of the change in the method used to calculate the Core Tier One Ratio (deduction of 50% of the value of the CCIs from hybrid capital alone), the Tier One securities exchange transaction in July 2009, the BPCE guarantee and the reimbursement of the shareholder advance.

The full press release is available in attachment.

Contacts:

+--------------------+--------------------+--------------------+
|Investor Relations: |relinvest@natixis.fr| Media Relations:   |
|                    |                    |                    |
+--------------------+--------------------+--------------------+
|Isabelle Salaun     |T + 33 1 58 55 20 43|Elisabeth de Gaulle |
+--------------------+--------------------+--------------------+
|Antoine Salazar     |T + 33 1 58 32 47 74| Victoria Eideliman |
+--------------------+--------------------+--------------------+
|Alain Hermann       |T + 33 1 58 19 26 21|     Corinne Lavaud |
+--------------------+--------------------+--------------------+

+--------------------+--------------------+
|Investor Relations: |pressrelations@natix|
|                    |is.fr               |
+--------------------+--------------------+
|Isabelle Salaun     |T + 33 1 58 19 28 09|
+--------------------+--------------------+
|Antoine Salazar     |T + 33 1 58 19 47 05|
+--------------------+--------------------+
|Alain Hermann       |T + 33 1 58 19 80 24|
+--------------------+--------------------+

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