Record high net profit for the period, driven by business expansion and operations scalability
- Net profit: €270.9 million (+38%)
- Recurring net profit1: €132.0 million (+18%)
- Total revenues: €612.9 million (+37%)
- ‘Core’ operating costs2: €153.4 million (+4.6%)
Total assets and net inflows grew
- Total assets: €82.1 billion (+17%)
- Assets under Advisory: €6.9 billion (+29%)
- Nine-month net inflows: €5.5 billion (+34%)
- Net inflows at the end of October: €6.0 billion (+29%)
Payment of the first tranche of the 2019- 2020 dividends approved
- First dividend of €2.7 per share with ex date 22 November 2021
- Capital solidity confirmed with CET1 ratio at 15.2% and TCR at 16.4%
Milan, 4 November 2021 — The Board of Directors of Banca Generali approved today the consolidated results at 30 September 2021.
Chief Executive Officer and General Manager Gian Maria Mossa stated: “We continue to outgrow our reference market and we are about to close the best year ever in the Bank’s history, ensuring solidity and top industry returns for all stakeholders. These excellent results confirm the quality of our unique business model, centred on the quality of our professionals, who increasingly represent a point of reference for both our private clients and all households looking for wealth protection advisory. The continuous innovation of investment platforms, services and solutions and the drive toward digitalisation form the basis of our business model, as they enable a quality relationship with our clients and make sustainability the key element of our offer. Professionalism, customer proximity and customisation are part of our culture and vision, as confirmed by the trust our clients place in us and the ensuing net inflows. We therefore look towards the end of the year with optimism and great enthusiasm, in view of the challenges and ambitions linked to the new three-year plan we are preparing for the beginning of next year.”
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