Sharp increase in Banca Generali’s interim net profit, driven by growth in total assets and in performance delivered to clients
- Net profit: €239.6 million (+37%)
- Recurring net profit1: €170.4 million (+3%)
- Net interest income: €157.5 million (+4%)
- Net recurring fees: €233.7 million (+5%)
- ‘Core’ operating costs: €121.8 million (+6%)
Record total assets driven by net inflows increase
- Total assets: €99.0 billion (+12% YoY)
- Assets under Advanced Advisory: €10.3 billion (+21%)
- 1H 2024 net inflows: €3.6 billion (+11%)
Capital solidity and leverage ratio further strengthened
- CET1 ratio at 22.3% and TCR at 23.7%
- LCR at 333% and NSFR at 216%
Milan, 25 July 2024 - The Board of Directors of Banca Generali approved the consolidated results at 30 June 2024.
Chief Executive Officer and General Manager Gian Maria Mossa stated: “This was a very strong first half of the year, with clear signs of normalisation in the insurance sector, net inflow mix and recruitment. Thanks to our ability to stand by the side of entrepreneurs and households in developing their wealth and to our outstanding professionals, we are propelling into the second half of the year with optimism and determination. This is the last year of our Plan, and we intend to close also this three-year period by achieving all of our targets and laying the foundations for a new phase of sustainable growth: innovative new investment solutions, enhancement of data-driven projects and the launch of our Swiss operations represent a competitive advantage that has still to be reflected in our results. The record levels of the first half of the year and the strong demand from our clients, as well as from professionals of other companies, allow us to look to the coming months with great confidence, also in terms of stakeholder satisfaction.”
