Italian managed savings hit €4,373 billion in 2025, dividends top €37 billion

Savings and managed assets reach new peaks

The total value of financial instruments held with Italian supervised intermediaries climbed to €4,373 billion at the end of 2025, a 7.9% increase from the previous year and the highest level since Consob began its statistical series in 2010. Italian equity securities stood out with a 24.2% jump to €533.9 billion, adding more than €100 billion in a single year. Consob described the surge as a signal of renewed investor confidence in the domestic equity market.

Managed assets expanded to €1,763 billion, up 8.7%, propelled by a 20.2% rise in mutual funds. Net inflows into Italian open-ended funds reached approximately €17.5 billion, with bond funds attracting the bulk of investor interest. The placement of financial instruments grew 13.1% to €535.2 billion, while proprietary trading soared 28.1% to nearly €2,100 billion. Order execution rose 8.7%, receipt and transmission of orders increased 10.6%, and the placement of insurance products with financial content advanced 10.7%, led by a 12.1% gain in unit-linked policies.

Dividends surpass €37 billion

Listed companies distributed more than €37 billion to shareholders during 2025, a new record. The payout reflected the strong earnings momentum across much of the financial sector and underscored the cash-generation capacity of Italian corporates.

Bank and insurance profits climb

Italian banks posted net income of €30.1 billion, a 12.7% increase, supported by higher fee income and returns from equity investments. Insurance companies recorded profits of €6.2 billion, up 16.2%, benefiting from rising insurance revenues and a reduction in operating costs.

Other sectors and Euronext Growth Milan

Other listed companies reported combined profits of €24.2 billion, a decline of 15.7% that Consob attributed to extraordinary negative items.

Suffering above all from extraordinary negative components linked to write-downs carried out by some issuers. The operational indicators, however, signal a substantial resilience of industrial performance and a positive cash generation capacity.

Companies traded on Euronext Growth Milan closed 2025 with profits up 37.4% to €353 million, driven by higher turnover and improved operating profitability. The segment's return on equity reached 7.2%, more than double the 2024 figure and the highest level in three years.