In the 2023 private banking Italian has reached quota 1.100 billion in assets under management, recording growth of 4,7% compared to the 1.052 billion in the third quarter of 2023 and 11,2% compared to the 990 billion in the fourth quarter of 2022. This is what emerges from the 2023 final data of the market served presented by the Research Office of the Italian Private Banking Association (Aipb).
Private banking: net inflows of 37 billion in 2023
In 2023, private banking operators have achieved a total net collection equal to 37 billion, an increase of 8,6 billion compared to the third quarter of 2023, and recorded a positive contribution from the markets of 6% (+3,5% compared to the three months of July-September 2023).
"In 2023 the growth of the private banking industry has consolidated. A positive result that confirms the appreciation of private customers for a professional consultancy model that assists families in making informed choices consistent with the balance of short and medium/long term objectives", commented Andrea Ragaini, president of Aipb.
The report shows how, compared to the economic and financial scenario, 2023 ended more positively than the projections, which were far from good, with particular reference to the United States which closed the year with growth of +2,4% (the estimate was +0,9%).
Inflation fell to 2,9% in Europe, while central banks stopped increases, remaining stable at 4,5% (ECB) and 5,5% (USA).
“These conditions have led to good trends both in equity sector, which benefited in the last part of the year from better growth expectations, both in bond sector, whose revaluations are based on expectations of a lowering of interest rates glimpsed by analysts in the short term", reads the study.
Boom in government bonds and bonds
In this scenario, the absolute protagonists were direct investments in the administered sector, which recorded growth of 37,9% year on year and 9,7% on the third quarter of the previous year. In the details, they were the ones who took the spotlight Government bonds and bonds, increased by 68%, while the shares rose 17%. Finally, investment funds and asset management recorded positive, but significantly lower, growth of 7,7% (+4,2% compared to the third quarter of 2023).
