Pre-tax profits from corporate, institutional banking and markets at Natexis Banques Populaires surged more than three-quarters to €374m ($479m) in the first half of 2006, driving net profits at the French bank up 56% to €539m in its last set of results before its merger into Natixis.

Net profits at Natexis, the investment banking and fund management arm of the Banque Populaire group, climbed from €346m in the first half last year as net revenues increased by more than a quarter to €1.9bn, outpacing a 19% rise in costs, which hit €1.1bn.