Fideuram – Intesa Sanpaolo Private Banking closes the first quarter of 2018 with a consolidated net profit up 7% compared to the same period a year ago to 239 million euros. Total assets under management, according to the press release issued by the Intesa Sanpaolo group company, amounted to 213,8 billion, substantially in line with the end of 2017, and up by 5% compared to the first quarter of 2017.
La total net inflows up 6% to 2,5 billion euro while net fee and commission income grew to 432 million (+6%) The cost/income ratio was confirmed at 28% "in line - underlines the company - with the excellent levels of the first quarter of 2017". The common equity Tier 1 ratio is 16,8%. “After a 2017 of absolute excellence, which represented the best year in the history of our company, we started 2018 with further growing results” underlines the managing director Paolo Molesini.
“Even in the first quarter of the year – he continues – all the indicators highlight the quality of the work performed by our private bankers, attention to an increasingly demanding clientele and a winning service model, able to face any market condition. Asset solidity, management efficiency, financial management quality and commercial dynamism continue to characterize our performance, together with our attraction towards the best consultancy professionals: in fact, for the first time we have exceeded the threshold of 6.000 private bankers. Foreign activity, relaunched by theacquisition of Banque Morval, now represents our further challenge”.
