Milan, 4 August 2022 - Total net inflows amounted to €543 million in July, bringing the YTD figure to nearly €3.6 billion. The solid growth trend of the previous months therefore continued, despite the complex global economic e financial context.

In July, the Bank focused on advanced advisory and bespoke solutions to support clients in taking the opportunities currently offered by the markets.

In detail, AUC grew sharply to €486 million (€1.7 billion YTD). This performance was accompanied by an acceleration in households’ demand for financial advisory, with a €169 million increase in July (€324 million YTD) that led Assets under Advisory (BGPA) to exceed €7.0 billion at period-end.

Among managed solutions (€57 million in July; €1.2 billion YTD), demand for insurance and financial wrappers continued to be high (€50 million; €691 million YTD), thanks to their personalisation and diversification features.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “In July, net inflows continued to grow steadily. In a context marked by ongoing volatility, private clients’ demand shifted increasingly towards advanced advisory services and tailor-made coupon-oriented wrappers with a diversified profile. Our bankers’ strong daily commitment in standing alongside clients and the excellent feedbacks we are recording let us look towards our ambitious annual targets with optimism.”