• Net profit: €79.1 million (+19%)
• Total assets: €65.2 billion (+6.7%)
• Q1 2020 net inflows: €1.5 billion
• YTD net inflows: €1.9 billion

Milan, 14 May 2020 – The Board of Directors of Banca Generali, chaired by Giancarlo Fancel, approved the consolidated results at 31 March 2020.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “A first quarter of growth despite very complex market conditions, in which we were once again able to prove the strength of our advisory model in support of our clients. The double-digit growth of revenues and advanced advisory service reflects the development of commercial activities and the ability to attract new clients, above all in the private-banking segment, with many business owners asking us to help them meet the challenges associated with protecting their wealth. In the weeks of escalation of the pandemic, our very prudent approach to risk enabled us to adopt a defensive strategy in protecting investments, while the strong propensity for digital channels in the services and instruments offered to bankers and customers allowed us to strengthen our close relationships with them, even when working remotely. The offering mix worked, and managed solutions are meeting with growing attention following the market rally that started at the end of March. The conditions in the current quarter are more challenging due to the emergency measures and impact of the crisis, however the Bank’s solidity and the significant demand for professional advice lead us to look to the coming months with confidence.”