Banca March fee income decreases

Spain’s Banca March half-year fee income reached €75.7m, which represents a 5.7% decrease year-on-year.

The drop was driven by a fall of share prices in international markets, reflected in the EuroStoxx50 which went down by 12.3% in the first half of the year.

Banca March’s income fee comes mainly from the management of investment funds and Sicavs, as well as insurance distribution and payment methods.

Off-balance sheet revenue, of which 65% comes from March Asset Management, increased to €9.2bn, up by 4.5% year-on-year.

March AM’s Sicavs are a “prominent” part of the bank’s private banking business which remains “the most dynamic” unit of Banca March — its turnover grew by 3.9%, while new clients increased by 10.1% compared to June 2015.

March AM, the third largest asset manager of Sicavs in Spain, has assets under management totaling €3bn in Sicavs.

As at 30 June, March AM’s assets under management totalled €6bn.

ABOUT THE AUTHOR
Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

Read more from Alicia Villegas

preloader
Close Window
View the Magazine





You need to fill all required fields!