News

Back

March 22, 2012

Results as at 31 December 2011

Press release

The Board of Directors of Intesa Sanpaolo Private Banking approved the 2011 Draft Financial Statements.

Milan, 22 March 2012 - The Board of Directors of Intesa Sanpaolo Private Banking (ISPB) approved the 2011 Draft Financial Statements, with a net income of 86.6 million euro. The drop compared to the figure for 2010 (-20.3%) was due to extraordinary and non-recurring items . Excluding these items, there would be a 6% increase versus the previous year. Customer assets under management recorded a drop of approximately 2 billion euro - from 73 to 71 billion euro at the Italian Network-Private Segment level  and from 68.3 to 66.4 billion euro (- 3%) at ISPB level. The decrease was due to the combined effect of new assets equal to 3 billion euro and the market downturn amounting to 5 billion euro and was in line with that recorded in the sector as a result of the severe financial market crisis. 
 

  • Net income of 86.6 million euro, on the rise net of extraordinary and non-recurring items
  • Customer assets of 71 billion euro as at 31/12/2011,including the Private Segment of the Italian Network Banks (66.4 billion euro at ISPB level), affected by market downturn
  • 2011 net deposits of 3 billion euro
  • Leading bank in the sector with a market share of 17.3%
  • Operating income of 327.2 million euro (+2.1%) and operating margin of 155.2 million euro(+2.5%)
  • Operating costs among the lowest in Europe, with an impact on average assets under management equal to 26 bps
  • Cost/income ratio at 53%, one of the best ratios in Europe in the sector
  • Tier 1 ratio at 17.6%


Attached is the full press release.