Banca Generali’s net inflows up 77% in Q3

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Italy’s Banca Generali consolidated net profit rose 26% to €132.4m in the third quarter of 2014.

Nine months net inflows increased by 67% to €3.1bn and AUM at the end of September reached the all-time high of €33.6bn(+19%), the bank also revealed.

“The increase in net inflows was coupled by an effective optimization of the portfolio mix, which led to a significant rise in fee income. This did not impact the cost structure, which remained broadly stable net of the investments made to develop the innovative technological and advisory
platforms,” the bank statement said.

The significant expansion witnessed in the first half of the year continued in the third quarter in the asset management segment as well with demand for investment advisory showing a very dynamic trend.

Net inflows for the quarter amounted to €770m, 77% up compared with the same period 2013 and more than twice the average of the prior years.

October was in line with the excellent performances of the previous months, the bank also said, with net inflows reaching €243m, of which €250m from managed assets and insurance products.

Overall net inflows amounted to €3.3bn YTD, up 66% compared with the same period of the previous year.

Banca Generali’s CEO, Piermario Motta, commented: “We are very satisfied with our ongoing growth, quarter after quarter improvement in results and sound quality- and innovation oriented business model.

“Figures show that our Bank is a point of reference in terms of its financial advisors’ professional skills, its versatility and its ability to attract talents and lead the way in service evolution.

“Thanks to our commitment, we constantly exceeded our objectives and brought also the recent acquisition to a successful conclusion. On this basis, we look towards the coming months with great enthusiasm and confidence.”



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