Growth performance of total net inflows for Banca Generali, which rose to 75 million euro in July, well above the threshold reached in June, equal to 69 million. Of the total, 52 million come from the Banca Generali network alone, which accounts for 2011 million over the whole of 474. The rest, another 180 million, is instead attributable to Generali's Private Banking. Overall figure: 654 million since the beginning of the year. In the same period of 2010, funding amounted to 756 million.
Therefore, despite the difficult financial context, linked to the volatility on the bond markets, in particular of Italian government bonds, and the growing tensions on sovereign debt at an international level, the business model adopted by Generali has stood the test, demonstrating that it can support any market condition. In particular, the bond advisory service offered by Generali (Bond Advisory) enabled the bank to increase assets under management by 60 million, largely thanks to the transfer of securities deposits by new customers. New insurance business amounted to 56 million in July and 684 million since the beginning of the year. A result connected to a market context capable of directing demand towards insurance products in which attractive returns are combined with a guarantee of capital.
The Chief Executive Officer of Banca Generali, Giorgio Girelli, commented on the results achieved as follows: “Even in a very difficult month like this July, Banca Generali has continued to grow significantly. We are also convinced that our specialized consultancy-oriented business model is in a privileged position to provide the right answers to savers' needs. We continue to see great room for growth for Banca Generali, also strengthened by the great capital solidity that characterizes us".
