March 6 (Reuters) - Italian asset manager Azimut

posted on Thursday a 29% increase in adjusted net

profit in 2024 to 588 million euros ($635 million), citing

continued expansion of its global platform.

Azimut confirmed it expects 2025 net profit to reach up to

1.25 billion euros, subject to its new fintech bank TNB gaining

authorisation, and the finalisation of an 80% stake sale of TNB

to the domestic private equity fund FSI.

The asset manager proposed a 1.75 euro per share cash

dividend for 2024, and is expected to present its new five-year

business plan later this year.

"We remain focused on delivering our 2025 targets, further

advancing our global expansion, with a presence in 18 countries

and already 50% of total assets managed outside Italy", CEO and

CFO Alessandro Zambotti said in a statement.

($1 = 0.9263 euros)

(Reporting by Philippe Leroy Beaulieu in Gdansk; Editing by

Emelia Sithole-Matarise)