Positive Q1 results for Intesa Sanpaolo Private Banking
Intesa Sanpaolo Private Banking, part of Italy’s biggest bank by assets, has reported a €35.9m net profit for the first quarter of 2012, marking a 50% year on year increase.
Between January and March, net inflows have been €500m, with a €3.9bn increase in assets under management.
Intesa Sanpaolo Private Banking currently has €75bn assets under management, with a market share of 17%, according to a company statement.
“The positive quarter results show the bank’s efforts to offer quality services of advisory, asset management and technological innovation,” chief executive Paolo Molesini said.