Banca Generali withstood market volatility: recurring revenues and net profit grew driven by solidity and operating efficiency
- Net profit: €68.3 million (-50%)
- Recurring net profit: €53.2 million (+43%)
- Total revenues: €160.8 million (-33%)
- Net recurring fees: €120.0 million (+15%)
- ‘Core’ operating costs: €54.2 million (+6%)
Further business expansion
- Total assets: € 84.0 billion (+8%)
- Assets under Advisory: € 7.1 billion (+10%)
- Q1 2022 net inflows: €1.5 billion
- YTD net inflows: €1.9 billion
Capital solidity confirmed
- CET1 ratio at 16.2% and TCR Ratio at 17.3%
- Implicit dividend payout at 84%
Milan, 13 May 2022 — The Board of Directors of Banca Generali approved the consolidated results at 31 March 2022.
Chief Executive Officer and General Manager Gian Maria Mossa stated: “A solid start to the year, in which all the main recurring components of our business grew, further confirming the efficiency and quality of our work. Total assets continue to rise on a yearly base, as do net inflows, thanks to our bankers’ excellent work alongside households, each day, assisting them through the challenges of protecting and diversifying against risk variables such as inflation and severe market volatility. In an uncertain context marked by geopolitical and economic complexity, prudent management and operating efficiency were our guidelines, without compromising on strategic and commercial development. We continue to expand our advisory solutions by investing in our range of products and digital tools. In light of the professionals’ positive response and the many new clients acquired in this first part of the year, we are confident we will continue to grow faster than our reference market.”
Read the full press release.
