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The Board of Directors of Banca Generali, chaired by Giancarlo Fancel, approved the consolidated results at 31 December 2017.

 

GROWTH, OPERATING LEVERAGE AND MARKETS DRIVE NET PROFIT TO RECORD LEVELS
- Net profit: €€204.1 million (+31%)
- Net profit for Q4: €€56.8 million (+52.2%)
- Management fees at €€587.1 million (+19%)
- Other recurring fees at €€58.3 million (+29%)
- Operating expenses at €€187.9 million (+3.2%)


ACCELERATION OF BUSINESS EXPANSION
- Total assets at €€55.7 billion (+17%)
- Net inflows for 2017 at €€6.9 billion (+21%); net
inflows of managed solutions more than doubled (€€5.8 billion; +129%)
- Net inflows totalled €€465 million in January


HIGHER DIVIDEND AND GREATER SOLIDITY
- BoD proposal for a DPS of €€1.25 (+17%)
- CET 1 ratio at 18.5% (+180 bps), Total Capital ratio
at 20.2% (+180 bps)

 

Chief Executive Officer and General Manager Gian Maria Mossa stated: “2017 was the best year in the Bank’s history, with a remarkable double-digit increase in all key indicators, besides commercial ones. Operating efficiency and the development of recurring business are proof of the soundness of a business model that ensures sustainable growth over time. The sharp rise in net inflows and total assets was accompanied by targeted investments focusing on the quality of our people and innovative projects that allow us to best meet regulatory and market challenges, thereby assuring us an increasingly central role in Italy’s private banking industry.”

 

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