Banca Carige’s assets under management up by 1.4% during H1

Italy’s bank Banca Carige posted a 20.1% increase in net profits during the first half of the year, closing the period with profits at €90.2m.

Net inflows managed by the bank were at €50.5bn, a 4% decrease compared to June 2011.

Overall assets managed by Banca Carige reached €9.66bn at the end of H1, a 5.2% year on year decrease, but 1.4% more than the previous semester.

Assets under management increased by 7.9% and insurance products by 2.4%. Assets under administration decreased to €13.2bn at the end of June, a contraction of about 6% year on year and compared to the previous quarter.

Inflows from retail clients remained stable during the period and stood at €20.2bn at the end of the first half of 2012.

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