French bank Natixis, one of the worst effected by the credit crisis in Europe, has received a â¬1bn ($1.6bn) capital injection from two large shareholders that ensures it will not fall short of a capital adequacy target on June 30.
The bank, which has suffered â¬1.6bn in writedowns due to its strong focus on securitisation, announced yesterday that French mutuals Banque Fédérale des Banques Populaires and Caisse Nationale des Caisses dâEpargne would each inject â¬500m in addition to the â¬1.5bn in funding that they provided in March.
