Credem sees positive results on wealth management

Italy’s Credem has published its preliminary business results for 2014.

According to the its estimate, the Credem Group pushed its profits up by 31% to €151.8m in 2014.

Credem pointed out that its wealth management activities scored particularly positive results, with asset management products posting total net inflows of €20.2m, 14.3% up compared to 2013.

Wealth management services posted €254.1m in 2014, 14.3% up compared with the previous year.

Access to credit for Credem’s clients also rose by 7.9% yoy in 2014. According to the company, the rise in loans was made possible thanks to the positive relationship between negatives and positive of 1.55%.

Adolfo Bizzocchi (pictured), general director at Credem, said: “2014 has been a challenging but exciting year which brought us plenty of satisfaction.

“We are proud to have kept offering access to credit to clients throughout the whole year.”