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