Banca Profilo targets €7.5bn AUM by 2016

Italian private and investment bank Banca Profilo has announced plans targeting assets under management of €7.5bn by 2016.

During its latest board meeting, Banca Profilo announced it will also aim at €10m net profit, a Tier 1 ratio above 20% and a dividend payout of 50% as part of its 2014-2016 business plan.

The announcement follows very positive results over 2013, including total net inflows of €4.2bn and a capital growth of 9% from 2012

According to Reuters, shares in Banca Profilo rose 2.3% to €0.23 in early trade against a broadly flat Milan bourse.



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