Intesa Sanpaolo sees solid growth in AM activities
Italy’s Intesa Sanpaolo group posted €23bn growth in the asset management sector in H1 2015, with net inflow of approximately €22bn.
Since year-end 2013, assets under management have increased by approximately €66bn, with net inflow of approximately €52bn, of which approximately €27bn switched from assets previously held under administration, Intesa Sanpaolo also said.
Net income already above the dividend commitment for 2015, up to €2,004m in H1 2015 from €720m in H1 2014, the highest half-yearly result since H1 2008. The net income for Q2 2015 declined only marginally, to €940m from €1,064m in Q1 2015, in spite of the severe effects of the Greek crisis on the financial market performance
Intesa Sanpaolo also highlighted support to the real economy with approximately €22bn of medium/long-term new lending in H1 2015.
“Approximately €19bn of these loans were granted in Italy (up 41% vs H1 2014) – the rate of lending accelerated in Q2 reaching €11bn, compared with €8bn disbursed in the previous quarter – and of which more than €15bn were granted to families and SMEs, representing an increase of more than 70% on the same period in 2014.
“In the semester, the bank helped 8,400 Italian companies return to performing status from non-performing positions – growing to 4,900 in Q2, compared with 3,500 in the previous quarter – making a total of 17,400 since 2014,” the group said.