(Alliance News) - Solutions Capital Management SIM Spa reported Tuesday that commission income for the first nine months rose 41 percent to EUR5.5 million from EUR3.9 million in the same period last year.

Commission expense was EUR2.7 million compared to EUR1.6 million as of Sept. 30, 2022.

Net interest and other banking income was EUR2.8 million, up 26 percent from EUR2.2 million in the same period last year.

The net loss of EUR360,000 marks a marked improvement from the loss of EUR890,000 a year earlier.

Net inflows since the beginning of the year are positive at EUR31 million - down EUR7 million from June 30 this year - while adjusted net inflows, which do not consider the closure of some inactive contracts, are positive at over EUR153 million from EUR133 million as of June 30.

Net inflows in asset management are positive at around EUR29 million from EUR26 million as of June 30 while net inflows in advisory, excluding inactive relationships, exceed EUR103 million, in line with the figure recorded as of June 30.

Assets under control stood at EUR912 million, in line with the figure recorded as of June 30, or EUR913 million.

SCM SIM's stock closed Tuesday down 7.1 percent at EUR2.34 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.