11/08/2001
The Mediolanum Group discloses the First 9M 2001 Final Results
Record net inflows confirmed
Consolidated net profit improves
The Board of Directors of Mediolanum S.p.A. met today and approved the company accounts of the first nine of months of 2001.
The final results confirmed the appreciable preliminary data. In fact, regardless of the negativity of the markets and the extraordinary historical-political situation during the period under exam, new record inflows were achieved, even surpassing those of 2000, which was unanimously considered one of the best years in national and international financial history.
With reference to
Italy, the main results were:
- Net profit for the period, thanks to the strong recovery made in the third quarter, was at 76 million Euro as compared to 82 million Euro in the same period in 2000 (-7%), with a constantly improving trend with respect to the first three months (-19%) and to the first six months (-13%) of this year.
- Consolidated Assets under Administration grew by 3% to 16,165 million Euro from 15,758 million Euro in September 2000.
- Total Net Inflows, including life insurance, managed accounts and direct and indirect inflows of the bank, confirming a new historic record, amounted to 2,480 million Euro surpassing by 4% the already notable net inflows of the first nine months of last year (Euro 2,384 million). In particular, net inflows consist of 1,462 million Euro from managed savings and 1,018 million Euro from administered savings.
Other items of interest:
- Recurring Life Premiums registered new business of 125 million Euro compared to 75 million Euro in the first nine months of 2000, with an increase of 67%
- Bank Direct Inflows of Banca Mediolanum amounted to 573 million Euro, with an increase of 22% with respect to 471 million Euro for the same period in 2000.
- There were 281,300 total Bank Accounts as at September 30, 2001 compared to 199,400 as at September 30 last year, with an increase of 41%.
- There were 692,000 Primary Account Holders as at September 30, 2001 compared to 583,000 at the same date last year, with an increase of 19%.
New customers acquired in the first nine months of 2001 came to 109,000.
- As at September 30, 2001 the Sales Network of Banca Mediolanum consisted of 5,617 advisors (with an increase of 15% out of a total of 4,872 as at September 30, 2000), of whom 3,755 are licensed financial advisors.
Adding the 1,255 Partner Time insurance agents (+63% in twelve months), the Sales Network of the Mediolanum Group reached a total of 6,872.
With reference to the controlled
Fibanc in
Spain:
- Net profit of the Spanish group related to the period was 0.6 million Euro.
- Assets under Administration were 1,954 million Euro.
With respect to the
consolidated data of the Group, which include Fibanc:
- Consolidated Assets under Administration, despite the negative effect caused by the trends in the equity market, reached 18,119 million Euro against 15,758 million Euro as at September 30, 2000, growing +15% in twelve months.
- Total Consolidated Revenues were 1,330 million Euro, a growth of 3% with respect to the same date in September 2000 (1,294 million Euro).
- Consolidated Net Profit of the Group was 68 million Euro, a reduction (of 16%) with respect to the results of September 2000 (82 million Euro).
Milan, November 8, 2001
Last update: November 8, 2001 -15:00
