Net profit increased, driven by business expansion, revenue diversification and favourable financial markets
- Net profit: €196.0 million (+44%)
- Total revenues: €408.4 million (+23%)
- Operating expenses: €155.7 million (+8.6%)
- Recurring net profit1 : €103.0 (+18%)
Assets grew sharply by nearly €10 billion YTD
- Total assets at €66.1 billion2 - Pro-forma assets at €67.2 billion3
- Assets under Advisory: €4.4 billion (+91%)
- Net inflows for the nine month period: €3.8 billion
Solid capital position
- CET1 ratio at 16.5% and Total Capital Ratio at 17.8%
Milan, 31 October 2019 – The Board of Directors of Banca Generali, chaired by Giancarlo Fancel, approved the consolidated results for the first nine months of 2019. Chief Executive Officer and General Manager Gian Maria Mossa stated: “We are very satisfied with these results, as 2019 is proving to be the best year in our Bank’s history. The strong business expansion and the increasingly close relationship with our private-banking clients reflect the quality of our bankers and the excellent extension of our range of products and services. The recent M&As have provided additional asset management and wealth management expertise, and are opening up opportunities on new markets. Despite households’ underlying prudence due to economic uncertainties, we are succeeding in meeting their needs and continuing to grow significantly in terms of net inflows and acquisition of new clients. The important projects underway and the demand for professional advisory services allow us to look towards the coming months with confidence.”
