Fideuram - Intesa Sanpaolo Private Banking: full-year results 2021

The image accompanying the News on the annual results of Fideuram - Intesa Sanpaolo Private Banking portrays a smiling young woman, in a jacket and shirt, sitting at a desk, shaking hands with a man from behind, holding  documents in the other hand

The results achieved by Fideuram - Intesa Sanpaolo Private Banking in 2021 rank it firmly among the leading European private banking operators by total assets under administration: as its net income rose to €1.1bn, a strong increase over 2020, the company reached a record €341bn in assets under administration.

In 2021 Fideuram - Intesa Sanpaolo Private Banking also recorded its best sales performance ever, with net inflows exceeding €15.7bn and flows into asset management products almost doubling compared to the previous year.

The Wealth Management business is among the key areas for value creation identified in Intesa Sanpaolo's recently announced new 2022-2025 Business Plan.

The results achieved also confirm the quality of the service model that its 6,500 private bankers are able to offer clients, through a careful analysis of their actual needs, a range of quality products and services and in-depth, personalised asset management.

Highlights of Fideuram - Highlights of Fideuram - Intesa Sanpaolo Private Banking's performance in 2021are provided below:

  • Total assets under administration reached a new all-time high of €341.2 billion, up 12% year-to-date
  • Assets under management amounted to € 220.7 billion (€197.2 billion at the end of 2020, +12%), accounting for 65% of assets under administration
  • Total net inflows exceeded €15.7 billion (€13.1 billion in 2020, +20%), with net inflows of assets under management of over €11.5 billion (€6.2 billion in 2020)
  • Net commissions rose to €2.1 million (+9%), showing solid growth compared with the same period in 2020 (€1.9 million)
  • Net operating costs of €829 million, up slightly compared to 2020 (€794 million, +4%)
  • Cost/Income ratio at 35%, an improvement on 36% in 2020
  • Consolidated net income rose to €1.1 billion, a significant increase (+35%) compared to 2020
  • Capital solidity above regulatory requirements with a Common Equity Tier 1 ratio of 13.6%

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