Indirect deposits amounted to € 20,960.3 million, annual growth of 3.6% and down by 4.3% in the last quarter of 2008 (-12.5% and 6.9% net of former ISP and UCB branches), hit by the negative performance of financial markets.
Assets under management amounted to € 10,438.6 million, up by 1% compared with 2007, but down by 4.6% in the last quarter (13.4% in twelve months and -7.1% in three months net of former ISP and UCB branches).
Within these, the trend showed a decrease in mutual funds (€ 4,688.4 million; -14.8% in the year) and assets managed (€ 3,085.3 million; 3.7% in twelve months) and an increase in bankassurance products (€ 2,664.8 million; +64.1% from the end of 2007).
Assets in custody amounted to € 10,521.7 million, down by 4% compared to September 2008 (-6.8% net of former ISP and UCB branches), but registered a 6.2% increase in the year (-11.5% net of former ISP and UCB branches), relating to the performance of Government bonds (+14.9% during the year to € 6,007.4 million).
INDIRECT DEPOSITS
| (figures in thousands of €) | Situation as at | Change % | ||||
|---|---|---|---|---|---|---|
| 31/12/08 | 30/9/08 | 31/12/07 | 31/12/06 | 12/08 09/08 | 12/08 12/07 |
|
| Total (A+B) | 20,960,268 | 21,905,132 | 20,235,447 | 19,480,975 | -4.3 | 3.6 |
| Assets under management (A) | 10,438,552 | 10,947,485 | 10,330,790 | 10,242,164 | -4.6 | 1.0 |
| Mutual funds and unit trusts | 4,688,404 | 5,377,421 | 5,502,503 | 5,626,288 | -12.8 | -14.8 |
| Assets management | 3,085,316 | 3,120,437 | 3,204,655 | 3,219,007 | -1.1 | -3.7 |
| Bancassurancei products | 2,664,832 | 2,449,627 | 1,623,632 | 1,396,869 | 8.8 | 64.1 |
| Assets in custody (B) | 10,521,716 | 10,957,647 | 9,904,657 | 9,238,811 | -4.0 | 6.2 |
| Government securities | 6,007,358 | 5,927,440 | 5,227,211 | 4,546,128 | 1.3 | 14.9 |
| Other | 4,514,358 | 5,030,207 | 4,677,446 | 4,692,683 | -10.3 | -3.5 |
Premiums collected on bankassurance products in 2008 (628.9 million) almost doubled (+92.1%), due to the increase in traditional life insurance policies (from € 103.3 million in 2007 to € 458.6 million in 2008, in relation to the acquisition of new Carige Soluzione Rendimento policies, with a null value at December). Premiums collected on Unit and Index linkedi policies fell by 24.3% and on non-life insurance policies remained at marginal levels (€ 4.4 million; -12.2%).
BANCASSURANCEi
| (figures in thousands of €) | Situation as at | Change % | ||||
|---|---|---|---|---|---|---|
| 31/12/08 | 30/9/08 | 31/12/07 | 31/12/06 | 12/08 09/08 | 12/08 12/07 |
|
| Total premiums collected | 628,869 | 373,408 | 327,381 | 342,272 | 68.4 | 92.1 |
| Life, of which: | 624,475 | 370,023 | 322,374 | 336,098 | 68.8 | 93.7 |
| . Unit/Index-linked policies | 165,835 | 155,725 | 219,064 | 172,591 | 6.5 | -24.3 |
| . Traditional policies | 458,640 | 214,298 | 103,310 | 163,507 | … | … |
| Non life, of which: | 4,394 | 3,385 | 5,007 | 6,174 | 29.8 | -12.2 |
| . Car insurance | 964 | 818 | 943 | 1,052 | 17.8 | 2.2 |
| . Non car insurance | 3,430 | 2,567 | 4,064 | 5,122 | 33.6 | -15.6 |