Assets managed

Asset management is the principal activity of the financial segment and is primarily focused on managing the financial instruments of the Group companies.

At 31 December 2012 third party assets managed by banks and asset management Group companies amounted to € 96,379 million (€ 88,207 million at 31 December 2011). On equivalent consolidation area the assets managed on behalf of third parties increased by 14.4% compared to 31 December 2011.