Banca Generali’s growth accelerates

• Net profit: €175.1 million (+33%)
• Recurring net profit1: €166.1 million (+54%)
• Net interest income: €151.5 million (+192%)
• Net recurring fees: stable at €478.7 million
• ‘Core’ operating costs: €114.5 million (+6%)

Record total assets driven by net inflows increase

• Total assets: €88.2 billion (+9% YoY)
• Assets under Advanced Advisory: €8.5 billion (+26%)
• H1 2023 net inflows: €3.3 billion (+7%)

Strong solidity and liquidity

• CET1 ratio at 17.3% and TCR at 18.5%
• LCR at 344% and NSFR at 223%

Milan, 27 July 2023 - The Board of Directors of Banca Generali approved the consolidated results at 30 June 2023.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “This was the Bank’s best first half ever in terms of customers’ total assets, net inflows gathered by the existing network and recurring profit. We are particularly satisfied with our professionals’ great work in assisting households, as reflected in our H1 net inflows. Fee-based products and services, such as fee-based advanced advisory and financial wrappers, continued to prove to be excellent solutions able to attract growing interest among high-standing clients. AUC portfolio solutions also performed well, focussing on maturities within one year to seize the opportunities offered by rising short-term interest rates, as confirmed by the acceleration of specific primary market solutions such as structured products and certificates. Considering our solid net inflows and of the acceleration of the main revenue items in the second quarter of the year, we have reached the halfway mark in our three year Plan with strength and optimism. We are in line with or above the ambitious targets we had set ourselves, confirming our ability to overperform the market of reference and create value for all of our stakeholders.”