Ibercaja posts net profits of €323m in H1
Spain’s Ibercaja Banco has reported record net profits of €323m in the first half of 2014, the bank’s latest report has revealed. The company linked the extremely positive result to the acquisition of Caja 3 earlier last year, which helped bring AUM up again.
In particular, the asset management arm Ibercaja Gestión posted record inflows of €6bn in H1, shooting total AUM up by 70%. In the months between and January and June, client payments to the bank reached record €550m levels.
Ibercaja Banco also reported a 6.29% overall growth in their product sales, including investment funds, pension funds and securities.