French bank Natixis is to double the number of job cuts that it had planned to make at its corporate and investment bank to 900 and will cut back its business in Asia and the US in response to the recent market deterioration.

The French bank in May announced plans to cut 850 of its 22,000 staff, with 450 of the losses understood to be in the corporate and investment bank. However it is now poised to increase the level of cuts.