As expected, FY25 issuance reached €71.8bn, representing +8.8% YoY growth, comfortably exceeding the €70bn threshold.
• December sales reached €6.6 billion, representing a 40.2% year-on-year increase.
• Product mix remained well balanced. Growth products retained leadership with a 39.7% market share, followed by Income products at 32.8%, which continued to gain relative traction through the year. Capital-protected structures accounted for 27.4% of issuance, stabilising after weaker mid-year dynamics.
