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Illustration: Kevin February |
Many will remember an image of Natixis as the ugly duckling of French investment banks, with a shaky standing, even before it was bailed out in the sub-prime crisis. That’s no longer the case: Natixis’ market capitalization has increased by more than seven times since 2009. By price-to-book ratio, it is the highest valued French bank, and one of the most valuable banking stocks in Europe – a differential the recent sell-off has only accentuated.
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