General Bank closed the fourth quarter of 2013 with a Net income up 12%, to 36,2 million euro. Profits realized in the entire year amounted instead to 141,3 million (+9%). The results are in line with analysts' estimates.
The institute's board of directors also specifies that it will propose to the assembly a dividend equal to 0,95 euro per share, an increase compared to 0,90 euro in 2012. As for net deposits, in February it reached 301 million.
"January and February - reads the Bank's note - recorded the best start of the year in the bank's history for total net inflows of 527 million, up 29% compared to the already brilliant result of the same period last year" .
After the publication of the results, Banca Generali's share on the Stock Exchange widened its losses, losing about two percentage points in the early afternoon.
“We look at the challenges of the coming months with great confidence and renewed enthusiasm”, commented the managing director, Piermario Motta.
Banca Generali had already announced of predict for 2014 net inflows of €1,5-1,6 billion, up from €2,26 billion in 2013 (€2,76 billion under management), despite several brokers having subscription estimates of at least two billion.
