UniCredit’s private bank logged assets under
management (AUM) of €38.5bn ($54.4bn) at year-end 2010, a 9%
increase compared to the year to December 2009.
The European private bank unit reported a
57.5% increase in profit before tax to €63m at the end of 2010,
while its cost-income ratio fell 6.4 percentage points year-on year
to 68%.
Go deeper with GlobalData
The bank has about 250,000 private banking
clients with a minimum required net worth of €500,000 in Germany,
Austria and Italy and PLN1m ($350, 000) in net worth for clients in
Poland.
Operating profit up 38%, more
FTEs
The private bank added 48 full time equivalent
(FTE) employees in the fourth quarter of 2010, bringing the total
to 3,074, which include about 1,300 relationship managers.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe bank said that a 38% increase in operating
profit to €65m was driven by double digit revenue growth in
2010.
The private bank accounts for 3.1% of the
UniCredit Group total revenues.
UniCredit focuses its core private banking
operations in Italy, Germany, Austria and Poland and has an
international arm based in Luxembourg.
The bank has 250 private banking branches
across Europe and is active in more than 20 countries.
