Press Release
The Board of Directors approved the Quarterly Report as at 30 September 2012
Milan, 20 November 2012 - The Board of Directors of Intesa Sanpaolo Private Banking S.p.A. (ISPB), chaired by Giampio Bracchi, approved the Quarterly Report as at 30 September 2012, which closed with a net income of 99.6 million euro, up 62.4% over the corresponding period of 2011 (61.3 million euro).
- Net income of 99.6 million euro, up 62.4% compared to 30 September 2011
- Assets under management of 75.2 billion euro as at 30 September 2012 at the Italian Network-Private Segment level (71.4 billion euro within ISPB S.p.A.), showing significant growth from the beginning of the year (up 4 billion euro)
- Net new assets in funds and SICAVs of 1.5 billion euro and an increase in money-market products of 1.7 billion euro
- Operating income of 276.2 million euro (up 17.3%) and operating margin of 153.5 million euro (up 51.9%)
- Reduced operating costs (down 8.7%) among the lowest in the sector, with an impact on average assets under management equal to 24 bps
- Cost/income ratio at 44%, one of the best ratios in Europe
Attacched is the full press release.