Ibercaja mutual funds net inflows double in Q3
Mutual funds of Spanish bank Ibercaja have attracted net inflows of €638m in the third quarter of the year, which more than doubles the €316m inflows registered in Q2.
According to Ibercaja latest earnings report, net inflows amount to €949m year-to-date, allowing the Spanish bank to achieve a 11.5% market share in new entries.
Assets under management (AUM) stood at €10bn through September 2016, which represents a growth of 10.8% since December 2015. The growth in AUM represents a market share of 4.36%, a new record high.
The bank’s net profit from January to September this year has increased by 6.4% to €109.8m year-on-year, favoured by the positive evolution of the main items of the P&L account.
Net fee income has also gone up 1% year-on-year with a solid evolution of non-banking commissions (+7.4% year-on-year).