consolidated annual report - Gruppo Banca Sella
consolidated annual report - Gruppo Banca Sella
consolidated annual report - Gruppo Banca Sella
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12.1 Securities dealing<br />
258 - GRUPPO BANCA SELLA<br />
SECTION 12<br />
ASSET MANAGEMENT AND DEALING ON BEHALF<br />
OF THIRD PARTIES<br />
2004 2003<br />
a) Purchases 90.387.570 107.549.778<br />
1. Settled 89.727.262 106.223.285<br />
2. Unsettled 660.308 1.326.493<br />
b) Sales 92.211.091 108.115.429<br />
1. Settled 91.551.183 106.776.727<br />
2. Unsettled 659.908 1.338.702<br />
Purchases and sales made during the financial year on behalf of third parties are related to:<br />
- futures and options contracts transacted on the IDEM market as far as activity on derivative instruments is concerned;<br />
- contracts transacted on the MTA, NM, EXPANDI and SEDEX markets as far as activity on cash is concerned;<br />
- contracts transacted on the MOT and EUROMOT markets as far as activity on bonds and Government bonds is concerned.<br />
12.2 Assets under management<br />
2004 2003<br />
Assets managed on behalf of customers 6.866.711 5.956.398<br />
The above mentioned assets managed on behalf of customers do not include cash (current accounts and deposits), which amounted to € 322,9 million in 2004 and € 400,2 million<br />
in 2003.<br />
The aggregate of assets under management by the Group on the whole therefore amounted to € 7.189,6 million in 2004 with respect to € 6.356,6 million in 2003.<br />
12.3 Securities custody and administration<br />
2004 2003<br />
a) Third party securities held in deposit - excluding assets under management (*) 14.679.158 13.109.156<br />
of which:<br />
funds units managed by companies (according to Law No. 77, 23/03/1983)<br />
included in consolidation 4.655.382 4.050.241<br />
b) Third party securities deposited with third parties 15.084.124 15.441.031<br />
c) Bank’s portfolio securities deposited with third parties 1.011.377 1.084.069<br />
(*) of which:<br />
- in custody 13.901.025 12.621.423<br />
- as guarantee 778.133 487.733<br />
14.679.158 13.109.156<br />
12.4 Collection of receivables on behalf of third parties: debit and credit write-downs<br />
2004 2003<br />
a) “Debit” write-downs 852.792 796.849<br />
1. Current accounts 3.542 4.435<br />
2. Central portfolio 413.102 421.589<br />
3. Cash 202.346 188.243<br />
4. Other accounts 233.802 182.582<br />
b) “Credit” write-downs 907.600 880.781<br />
1. Current accounts 5.200 4.980<br />
2. Transferors of notes and documents 847.554 828.995<br />
3. Other accounts 54.846 46.806
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