Intesa Sanpaolo sees strong AUM growth in 2014

Related Content Related Video Related Articles

Italy’s Intesa Sanpaolo, the country’s second largest group per AUM, has reported positive results for 2014.

Assets under management reached €43bn, with some €18bn going from assets under administration into assets under management.

The group also said it saw robust net income robust net income of €1,690m in 2014, excluding the retroactive increase in the tax rate, from 12% to 26%, on the capital gain from the Bank of Italy stake booked in 2013. This was up 38.8% from €1,218m in 2013, excluding the impairment of goodwill and other intangible assets.

The stated net income amounted to €1,251m in 2014 (versus a net loss of €4,550m in 2013), despite an effective tax rate of 52%, and €48m in Q4 2014.

Support to the real economy was also highlighted by the Italian group which reported approximately €34bn of medium/long-term new lending to families and businesses in 2014.

Sustained growth was seen in net fees and commissions to €6,775m in 2014, the highest figure since 2007, up 10.5% versus 2013.

Intesa Sanpaolo also reported improving credit trend with NPL inflow from performing loans in 2014 at its lowest since 2011. Net inflows came at €8.6bn in 2014, from €11bn in 2013 (down 22%); gross inflow was €12.3bn, from €15.5bn in 2013 (down 21%).

 

Milan

InvestmentEurope is delighted to announce the Fund Selector Bond Focus Italy to be held on 5 March in Milan

Click here for further details: http://www.investmenteurope.net/event/fund-selector-bond-focus-italy-2015/

 

preloader
Close Window
View the Magazine





You need to fill all required fields!