Press release
The Board of Directors approved the Quarterly Report as at 31 March 2012
Milan, 21 May 2012 - The Board of Directors of Intesa Sanpaolo Private Banking S.p.A. (ISPB), chaired by Giampio Bracchi, approved the Quarterly Report as at 31 March 2012, with a net income of 35.9 million euro, up 50.6% over the corresponding period in 2011 (23.9 million euro).
- Assets under management of 75.0 billion euro as at 31 March 2012, including the Private Segment of the Italian Network Banks (70.3 billion euro at ISPB S.p.A. level), up significantly from the beginning of the yearNet deposits of 0.5 billion euro in the first quarter of 2012
- Net new money: 0.5 billion euro in the first quarter of 2012
- Leading bank in the sector with a market share of over 17%
- Operating income of 100.6 million euro (+20.8%) and operating margin of 57.2 million euro (+48.2%)
- Operating costs down (-2.9%) and among the lowest in Europe, with an impact on average assets under management equal to 26 bps
- Net income of 35.9 million euro, up 50.6% on the first quarter of 2011
- Cost/income ratio at 43%, one of the best ratios in Europe
- Tier 1 ratio at 18.0%
Attacched is the full press release.