November 8, 2012 / 1:06 PM / in 5 years

Mediolanum 9-mo net profit jumps 380 percent

MILAN, Nov 8 (Reuters) - Italian asset manager Mediolanum said on Thursday its nine-month net profit was nearly four times higher than a year ago as it continues to attract new funds from clients in Italy and abroad despite Europe’s deep financial crisis.

In a statement Mediolanum, one of Italy’s biggest asset managers, said its net profit in the period stood at 291.5 million euros ($371.8 million).

Excluding a large writedown Mediolanum took on its stake in investment bank Mediobanca, the net would have risen to 357.7 million euros, the asset manager said.

Mediolanum, in which former Italian Prime Minister Silvio Berlusconi is a major shareholder, proposed the payment of an interim dividend of 0.10 euros a share. ($1 = 0.7840 euros) (Reporting By Danilo Masoni; Editing by Lisa Jucca)

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