Bluerating on the the private banking market in Italy.

A market shared amongst a few big names that include: UniCredit, Fideuram, Generali, plus UBI and BNP

By Gianluca Baldini

If we estimate that the private banking market in Italy is worth 920 billion euro, that leaves 26.3% not yet reached by private banking services (242 billion euro). This is only a slight change on the 27% recorded in 2013.

According to the Magstat survey, the first 3 operators – UniCredit PB, Intesa Sanpaolo PB and UBI Banca – account for the lion’s share. Between them, the big 3 hold 56% of the private market handled by Italian commercial banks through their [private banking] divisions or through independent banks specialising in the segment, and 29.7% of the private and family office market.

BNL-BNP Paribas, UBS Italia and Credit Suisse Italy hold 51.2% of the private market handled by foreign banks, and 9.9% of the private market served. Banca Esperia, Banca Leonardo and Invest Banca hold 72.2% of the private market managed by specialist independent Italian banks and 3.8% of the private market overall.

Ersel SIM, Banor SIM and Finint Alternative IM SGR hold 59.7% of the private segment handled by boutique financial services firms, asset management companies and securities brokerage firms, and 1.6% of the overall private market.

Banca Fideuram alone holds 49.3% of the private market managed by financial advisors specialising in private banking, and 5.7% of the private market.

The first 3 family office structures (Unione Fiduciaria, Tosetti Value Sim and Argos) hold 31.6% of the private market in that segment, and 2.6% of the private market served.

The first 3 Italian banking groups (Intesa Sanpaolo Group, UniCredit Group and UBI Banca Group) control 37.6% (255 billion euro), and the first 5 groups (i.e. the 3 mentioned plus BNP Paribas and Banco Popolare), 45.4% (308 billion euro). Lastly, the first 10 (the above-mentioned plus UBS, Veneto Banca, MPS Group, Credem Group and Credit Suisse) control 60.6% (411.1 billion euro) of the private market served.

Original article in Italian language, available here: Bluerating, September 11, 2014.

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