Natixis released its numbers for Q1 20. As expected these were mostly impacted by a sharp increase in loan losses and trading income has suffered from market dislocation at the end of March. Cost of risk is at 117bp on an annualised basis vs 60-65bp for the three other French banks but still slightly higher expectations. The CET1 ratio at 11.4% is 10bp higher qoq and 310bp higher than regulatory requirements (which have been recently softened).
