FACTBOX-Five facts about private banking

LONDON (Reuters) - Globally, private banks have seen their assets under management more than double in the past year, as the rich get richer.

Here are five facts about private banking from Euromoney's 2008 survey of 398 private banking and wealth management institutions:

* Global private banking assets under management, at 7.6 trillion US dollars or 3.8 trillion pounds, are now equivalent to 20 million Ferraris 599s or 441,000 Sunseeker 37 tri-deck yachts -- the most expensive yacht on sale at this year's London Boat Show.

* Europe maintains its leadership as the world's pre-eminent wealth management sector, with 41.7 percent of global assets under management. North America (including Mexico and the Caribbean) comes a close second with 37.6 percent.

* The continued rise in private banking assets is backed by genuine growth in asset inflows, as new wealth is created, particularly in emerging markets.

* Net income growth for the private banking industry is averaging 44 percent year-on-year globally.

* The fastest growth in the past year was seen in China, which saw a 135 percent surge in net income. Other emerging economies where private banking income is surging include Russia (88 percent) and India (84 percent). Comparative laggards include Indonesia (10.4 percent) and Italy (11.5 percent).

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