Italian banks post record results, structured products sales stable

An estimated €3.8 billion was invested in 810 publicly offered structured products during the first quarter of 2023 in Italy, slightly down from the same quarter last year (Q1 2022: €4billion from 865 products). The big four Italian manufacturers - Banco BPM, Intesa Sanpaolo, Mediobanca, Unicredit - were responsible for 60% of the total sales volumes in a quarter, despite issuing only 25% of all available products. Banco BPM Net income of €256m was posted by Banco BPM in Q1 20