MILAN, March 21 Italian asset manager Mediolanum
expects its net profit this year to be less than the
record result it posted in 2012, group deputy chairman Massimo
Doris said on Thursday.
"In the next 2-3 years we can easily see (a return to) these
levels of profit since our assets under management are growing,"
Doris told Reuters in a telephone interview.
Earlier on Thursday Mediolanum said its 2012 net profit was
351 million euros ($454 million), up 422 percent on the previous
year, the best result in its history.
Doris said the dividend payout ratio for 2013 would be
around 50 percent of net profit. He added net profit this year
could be in the region of 280 million euros.
Mediolanum's stake in investment bank Mediobanca
remained strategic but the group is not interested in buying any
of the 3.8 percent stake insurer Fondiaria-SAI must
sell for antitrust reasons.
($1 = 0.7722 euros)
(Reporting By Maria Pia Quaglia and Stephen Jewkes, editing by