Milan-based private bank Banca Esperia, reported a net profit of €15 million ($17.6 million) in the third quarter up to end September 2005. ...

Milan-based private bank Banca Esperia, reported a net profit of €15 million ($17.6 million) in the third quarter up to end September 2005. Its assets under management rose to €11.1 billion from €10.8 billion in the previous quarter. Banca Esperia is 48.5 per cent owned by the Milan-based investment bank Mediobanca. The bank was set up in July 2002 as a joint venture between Mediobanca and Mediolanum, another Milan-based bank. It aims to be one of the leading private banks in Italy. Compagnie Monégasque de Banque is Mediobanca’s offshore private banking business and has a major presence in Monaco. It has around €6 billion of assets under management.