Reuters logo
Mediolanum H1 net profit falls 17 pct, costs rise
July 30, 2014 / 12:21 PM / in 3 years

Mediolanum H1 net profit falls 17 pct, costs rise

MILAN, July 30 (Reuters) - Italian asset manager Mediolanum said on Wednesday its net profit in the first half of the year fell 17 percent on the year due to a one-off capital gain booked a year earlier and higher costs.

Mediolanum, one of Italy’s leading asset managers, said in a statement its net profit in the period was 164.9 million euros ($221 million).

Assets under management grew 15 percent from the same period a year ago to 61.3 billion euros, it said.

The group’s Common Equity Tier 1 ratio, a measure of financial strength, at the end of June was 18.09 percent.

$1 = 0.7464 Euros Reporting by Stephen Jewkes

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below