Recurring net profit reached an all-time high driven by flexibility and operating efficiency
- Net interest income: €145.0 million (+74%)
- Net recurring fees: €452.2 million (+1%)
- ‘Core’ operating costs: €232.9 million (+6%)
- Net profit: €213.0 million (-34%)
- Recurring net profit1: €221.1 million (+25%)
Total assets and net inflows proved solid in a complex market context
- Total assets: €83.1 billion (-3%)
- Assets under Advisory: €7.4 billion (+1%)
- 2022 net inflows: €5.7 billion (-26%)
- January 2023 net inflows: €417 million
Proposed dividend: €1.65 per share
- Dividend to be paid in May 2023 (€1.00) and February 2024 (€0.65)
- CET1 ratio at 15.6% and TCR at 16.7%
Milan, 9 February 2023 — The Board of Directors of Banca Generali approved the preliminary consolidated results at 31 December 2022.
Chief Executive Officer and General Manager Gian Maria Mossa stated: “We emerge even stronger from the worst year ever in market history. Our total assets proved highly resilient compared to the industry thanks to excellent management competencies and the quality of our products and services. In detail, we set new records in terms of investment services, from financial wrappers to advanced advisory, confirming the quality of our higher value-added solutions, which strengthen our private banking leadership. With a double-digit growth in recurring items and solid capital ratios, P&L and balance sheet reflect the Bank’s excellence and sustainability, driven by the increasing revenue diversification and the assets’ value. Despite the economic and geopolitical uncertainties and the stock market pressures in 2022, we closed the first year of our three-year Plan in line with the ambitious objectives set — and for certain targets even in advance. Our bankers’ commitment and determination and the trust shown by our customers make us look towards the coming months with optimism, convinced that we will continue to grow at a faster pace than our reference industry.”
