Banca Generali posts €246m net profits in May

Banca Generali’s total net inflows for May amounted to €246m, €145 of which were gathered by Banca Generali’s network (€664mn year-to-date) and €101m
by Banca Generali’s Private Banking (€443 million YTD).

In a low interest rate environment, Banca Generali pointed out, customers’ strong demand for seizing investment opportunities is being increasingly satisfied, thanks to a wide, versatile range of products.

Banca Generali also saw an increase in funds and Sicavs, which in May managed to generate inflows of €285mn, bringing the year-to-date (YTD) total to €881m.

As the bank also highligthed, this is the best result of the past five years and comes as twice the amount reported at the end of 2012.

The report also stressed that the bank’s customers have shown interest in equity and bond flexible funds, specifically focusing on global markets and countries considered to be the “new frontier.”

Life new business totalled €129m in May, and €507m YTD, Banca Generali also said.

In the area of administered products, considerable amounts of bonds, Italian government bonds in particular, reached maturity.

Accordingly, customers intensified the process of shifting such assets into managed products, with the aim of seizing the investment opportunities offered by international markets and diversifying their portfolios.

The net balance showed outflows of €113m in May and €152m YTD.

Banca Generali’s CEO Piermario Motta (pictured) said: “Over €1bn in net inflows in five months, with an increase of 20% compared to the same period of the previous year, the best in the bank’s history, represents a key milestone we are very proud of.”

Motta also said that the uptrend in assets under management (AUM) reflects the quality of a “versatile range” of products focused on “high-growth areas” where the bank stands out thanks to the proven expertise of its asset managers.

“Such increase is also due to our financial advisers, who in recent years have shown customers their ability to overcome the severe market volatility while seizing good opportunities,” Motta concluded.


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