Intesa Sanpaolo Private Banking posts 62.4% net profits increase
The private banking arm of Italy’s Intesa Sanpaolo posted a 62.4% year on year increase in net profits at the end of September.
At the end of the third quarter, Intesa Sanpaolo Private Banking confirmed €99.6m net profits.
Moreover, since the beginning of 2012, the bank saw a 6% increase in assets under administration, now at €75.2bn.
Paolo Molesini, chief executive at the firm, said the positive performance came as a consequnce of investments made to develop the network of private bankers.
Over the period, Intesa Sanpoalo Private Banking also expanded the range of advisory service offered.