Private banking services cover about 60 percent of the total private market, which is worth more than 1 trillion euros. This means that 40% are still not followed. Behind this gap, explained Italian Private Banking Association President Andrea Ragaini, is the fact that "private banking needs proximity, and not all of Italy is physically reachable. Not all banking facilities offer private banking services, but more and more institutions are becoming interested in the model”. According to Aipb's latest report, the sector is growing 8.2 percent this year over 2022 to 1,076 billion euros in assets under management. "A figure that is even more significant when compared to that of the rest of the market, which, excluding private banking, remained almost stable at +0.3 percent," Ragaini pointed out. Meanwhile, in the coming years, the industry will witness massive wealth transitions from the current generation of clients to the next. By the end of this year, €22 billion is expected to pass to younger generations: the figure is expected to reach €180 billion by 2028 and €300 billion by 2033.