General Bank Archive the first 9 months of the year with a Net income down 8%, to 135,8 million. In the third quarter alone, however, profits increased 10% year over year, to $43,3 million.
Also in the January-September period, the institute saw the growth of masses managed by 9%, to 58,5 billion. Operating costs, on the other hand, increased by 3%, to 143,3 million.
On the property side, the CET1 ratio stood at 18,0% and the Total capital ratio al 19,6%.
“The acquisition of an excellent advisory boutique such as Nextam will accelerate our development in wealth management – said Gian Maria Mossa, managing director and general manager of the Bank – where we will continue to develop new services and carefully look at the best opportunities that present themselves on the market to strengthen the diversification and protection of our customers' assets. Although in a very cautious context, thanks to the strength of demand and the numerous initiatives being launched, we are confident that we will continue to grow".
Banca Generali on 22 October communicated that it had presented a binding offer – accepted by the counterparties – aimed at theacquisition of 100% of Nextam Partners, a financial boutique active since 2001 in asset and wealth management as well as in advisory for private and institutional clients in Italy.
In the middle of the session, Banca Generali's stock dropped 1,44% to 17,79 euros.
