Staff of Reuters 2 minutes ReadOn September 24, 2015, people enter the BPCE bank headquarters in Paris, France. REUTERS/FILES/Philippe Wojazer PARIS, France (Reuters) – On Thursday, BPCE, which is delisting its Natixis investment banking unit, revealed ambitions to boost profitability by 2024, in part by strengthening its focus on sustainable investments. According to BPCE, measures to diversify Natixis’ business lines should result in increased revenues of roughly 500 million euros ($590 million) for Natixis Corporate & Investment Banking in 2024. It would also prioritize environmental, social, and governance (ESG) work in its asset management and insurance businesses, with Natixis Investment Managers aiming to manage more than 600 billion euros in sustainable or impact investing assets by 2024, accounting for 50 percent of total assets under management. BPCE, which operates France’s second-largest retail bank network behind market leader Credit Agricole, said its plans should generate 1.5 billion euros in additional revenue in strategic sectors like fund management, investment banking, insurance, and payments solutions. “By the end of this plan, we will not only have conquered new territories by assisting in the recovery of the economy and the realization of our customers’ projects, but we will also have established Groupe BPCE as a leading player in banking, insurance, and asset management,” said Chairman Laurent Mignon. (1 dollar = 0.8477 euros) Sudip Kar-Gupta contributed reporting. Mark Potter did the editing./n
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