Banca Generali celebrates ten years of listing on the Stock Exchange with Alessandro Del Piero and Davide Oldani, two champions, each in his own field, who need no introduction and who well symbolize the talent, the skills, the strength needed to reach the top.
However, during the event organized in the ever-fascinating setting of Palazzo Mezzanotte, the Istituto del Leone demonstrates that it has won its game mainly thanks to the numbers. Significant figures for a bank that has managed to strengthen and expand overcoming moments of crisis that have brought world finance to its knees, from the collapse of Lehman Brothers to the great recession that has put most of our banks in difficulty in recent years.
Yet, thanks to the strategy marked by the late Piermario Motta and perpetrated by the current general manager Gian Maria Mossa, Banca Generali has managed to distinguish itself on the national and international financial scene, to contribute to the revaluation of the Generali brand becoming, as underlined by the current president of the Assicurazioni Generali, Gabriele Galateri, "a point of reference in the savings market", positioning itself as the first private institution.
But a few figures are enough to describe how these 10 years spent on the Milan Stock Exchange have gone. Since the day of its debut, the value of the shares has grown from 8 to 21,28 euros at yesterday's closing, a performance that has allowed the company to increase its capitalization up to 2,481 billion euros (Banca Generali is the sixth institution in Italy in terms of capitalization), more than two and a half times the initial level. Those who benefited from these successes were above all the shareholders who were able to count on a gain of 302% in terms of total return (which includes dividends). The coupons amounted to a total of 655 million euro. Figures on the basis of which, the institute led by Mossa is positioned in first place in Italy in terms of dividend, which rose from 0,18 euros in 2006 to 1,20 per share in 2015.
Therefore, based on what has just been reported, it is difficult not to agree with the president of the bank Gianfranco Fancel, when he says that "numbers are Banca Generali's best calling card".
“We have traced a path with determination – added Fancel – We have shared a project and followed a path that is not easy if we think that in these ten years we have gone through 2008 and 2011. But we have always moved driven by the logic of creating value for Bank, for shareholders, for customers".
The ten-year rise of the Bank is also confirmed by the data regarding the main indicators provided during the event by general manager Mossa and the two deputy general managers, Stefano Grassi and Andrea Ragaini.
To impress is above all the growth of assets under management which, over the course of a decade, increased from 17 to 45,4 billion. In the 9 months of 2016, the increase compared to the same period of the previous year was 15% against an Assoreti average of 3,5%. Profits, on the other hand, rose from 1,7 million in 2005 to 118 million in the 9 months of this year. In october, funding reached a peak, increasing by 36% to €4,5 billion, a figure that will in all likelihood allow the Lion's institution to bring home the best result in its history after last year's record.
The balance can therefore only be positive. As Gian Maria Mossa points out, in ten years "the bank has changed its face, first becoming a point of reference in financial consultancy and then a protagonist in private banking for innovation and quality of the solutions available to families. The solidity and capacity for growth of our business model, with the role of consultants and central private bankers, project us towards new and even more ambitious goals".
Speaking precisely of the consultants, their number is currently equal to about 1.800 people, who they manage average assets per capita of more than 25 million “significantly higher – underlines the number one of Banca del Leone – than the Assoreti average, which stands at 15 million. A figure that demonstrates that we are now a private bank to all intents and purposes”.
“It is no coincidence – continues Mossa – today around 18.000 customers boast average assets close to 2 million euros. Double compared to what was recorded in 2012. We are now among the top 5 private banks in the country”.
Despite the goals already achieved, also thanks to the commitment of Piermario Motta, to whom a foundation will be dedicated to finance scientific research in the oncological field, Banca Generali has no intention of stopping and aims to a target of assets under management "over 70 billion euro" in 2021 from 45,3 billion in the first nine months of 2016.
An excess of optimism? According to the current general manager, absolutely not: "It's a reasonable goal in 5 years, if the markets give us a hand".
As for the short term, Mossa estimates for 2016 net inflows of more than 5 billion, while for 2017 prudence is a must: “As a minimum target we always start from 3 billion. We will see. It will depend a lot on the market. The trend is working very well and depending on what happens, with the crises of traditional banks, there could be very strong numbers for our entire sector", concludes the general manager, hoping "the normalization of Italy and the recovery of banks".
At the end of the conference, questioned by journalists, Mossa answered questions relating to theimpact that the constitutional referendum called for December 4 could have on the market: “The referendum is a very important watershed that people underestimate. The foreign operators at this tour are waiting for us at the gate".
“I have held various meetings with international investors and the theme is only that, the referendum”, explains the general manager on the sidelines of the conference. “What is being questioned is the ability to make reforms. If it doesn't pass on the first attempt, regardless of the contents and whether or not the reform is correct, it means that there is stagnation. And a country like ours, with a banking system in a deep crisis, needs everything except immobilism”, underlines Mossa. “The increase in the spread to 170-180 that has been seen in recent days is a sign of concern”.
Finally, a brief comment on Fineco: "We looked at the Fineco dossier, as many did, but without giving any formal mandate and we stopped immediately".
