Results increased driven by a recovery of demand for managed solutions, favourable financial markets and operational efficiency
- Net profit: €338.6 million (+33%)
- Recurring net profit1: €256.7 million (+3%)
- Net interest income: €237.3 million (+4%)
- Net recurring fees: €353.3 million (+5%)
- ‘Core’ operating costs: €185.5 million (+6%)
Total assets exceeded the €100 billion target
- Total assets: €101.0 billion (+14% YoY)
- Assets u. Advanced Advisory: €10.4 billion (+17%)
- Nine-month net inflows: €4.7 billion (+9%)
- Net inflows at end of October: €5.2 billion (+11%)
Excellent capital and liquidity ratios
- CET1 ratio at 22.6% and TCR at 25.2%2
- LCR at 332% and NSFR at 204%
Milan, 7 November 2024 - The Board of Directors of Banca Generali approved the consolidated results at 30 September 2024.
Chief Executive Officer and General Manager Gian Maria Mossa stated: “We are heading towards the best results in the bank’s history in terms of economic performance, size of assets per client, and number of bankers, supported by several positive trends: strong interest from industry professionals and the traditional banking world in our service model, client assets at historic highs surpassing the milestone of 100 billion euros, momentum in the collection of in-house managed financial savings products, and strong acceleration in demand of insurance products in recent weeks. On the results front, recurring items are improving, which, combined with operational efficiency, project us towards new ambitious goals not only in terms of profitability but also solidity. The offer on Intermonte and the innovation of services in Switzerland provide the foundation for new growth targets that we are working on with great commitment and determination. The strength of our bankers, who are at the top of the sector for professionalism and commitment to growth, and the appreciation we receive from clients and entrepreneurs make us look forward to the coming months with great confidence.”
Read the full press release.
