Italian managed savings hit €4,373 billion in 2025, dividends top €37 billion
The total value of financial instruments held with Italian intermediaries rose 7.9% to €4,373 billion, the highest since Consob began tracking in 2010, while listed companies distributed over €37 billion in dividends.
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.
- Financial instruments held
- 4373 € bn
- Managed assets
- 1763 € bn
- Italian equities
- 533.9 € bn
- Dividends
- 37 € bn
- Bank profits
- 30.1 € bn
- Insurance profits
- 6.2 € bn
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.
- Financial instruments
- 7.9 %
- Italian equities
- 24.2 %
- Managed assets
- 8.7 %
- Mutual funds
- 20.2 %
- Placement
- 13.1 %
- Proprietary trading
- 28.1 %
- Bank profits
- 12.7 %
- Insurance profits
- 16.2 %
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.
