1Q 2016 Results
The Board of Directors of Banca Generali approved the 1Q 2016
|1Q 2015||1Q 2016|
|Operating Profit|| 139.0 million|| 51.6 million|
|Net Profit|| 93.1 million|| 29.4 million|
|Total Assets|| 39.5 billion|| 42.5 billion|
|Net Inflows (4M)|| 1,447 mln|| 1,959 mln|
General Manager Gian Maria Mossa stated: "Although market conditions were diametrically opposite to those of the same period of the previous year, core business growth accelerated thanks to the Banks excellent positioning and the unique service model available to highly experienced professionals. The extraordinary volatility of the first weeks of 2016 led to caution, reducing opportunities arising from the variable items linked to the financial markets and their contribution to net profit; in terms of core business, however, this volatility enabled our professionals to approach new households who are welcoming the Banks wide range of innovative solutions. Net inflows are exceeding our expectations, also thanks to the success with new recruits. Should net inflows continue at this rate, they are likely to exceed year-start forecasts. On this basis, we look forward to the prospects of the coming months with great enthusiasm and optimism.