Banca Generali overcomes uncertainty and volatility thanks to its solid revenues and recurring profit
- Net profit: €131.3 million (-31%)
- Recurring net profit1: €107.9 million (+30%)
- Total revenues: €314.4 million (-27%)
- Net recurring fees: €231.4 million (+9%)
- ‘Core’ operating costs2: €108.1 million (+6%)
Positive net inflows results confirm the quality of the network and services offered to customers
- Total assets: €80.9 billion (+1%)
- Assets under Advisory: €6.7 billion (-2%)
- H1 2022 net inflows: €3.0 billion
Capital solidity confirmed
- CET1 ratio at 15.2% and TCR Ratio at 16.3%
Milan, 28 July 2022 - The Board of Directors of Banca Generali approved the consolidated results at 30 June 2022.
Chief Executive Officer and General Manager Gian Maria Mossa stated: “The second quarter was once again marked by the great work carried out by our professionals, with overall net inflows of €3 billion in the first half of the year. The recurring P&L component proved resilient thanks to our highly flexible business model, the recovery of net interest income and the resilient profitability of the managed component. In addition, July is also confirming the excellent results of the previous months, despite the highly uncertain context, thanks to our Bank’s strong positioning in assisting households with financial advisory and wealth protection solutions. The operating focus and the commitment to developing the important projects set out in our Strategic Plan have characterised the past few months, in which good progress was already made towards achieving our planned objectives. All of the above, together with the interest rates prospects and the ongoing innovation of our services and products, makes us confident that we can continue to grow and achieve the ambitious targets we have set.”
