Record results in 2021 for Banca Generali, which closed the year with a net profit up by double digits (+18%) and equal to 323,1 million euros, the highest value ever. There was also strong growth (+15%) in recurring profit, which reached 176,6 million euro.
Based on preliminary accounts approved by the board last year the revenues of Banca Generali they amounted to 779,3 million euro, up 26% on the previous year, against net commissions of 667,3 million (+31,4%). Operating income improved by 37,6% to 537 million compared to last year, while core operating costs increased by 4,9% to 214,1 million euros.
Under the asset profile, the CET1 ratio stood at 16,3% (from 15,2 as at 30 September 2021 and the Total Capital Ratio at 17,4% (from 16,4%), both results are above the requirements set for the group by the Bank of Italy as part of the Srep.
“We are proud of the growth of the bank it has exceeded all the ambitious goals of the three-year plan, allowing us to close 2021 with our best result ever", commented the CEO of Banca Generali, Gian Maria Mossa, underlining that "on the eve of the presentation of the new business plan" the institute counts "on the strength of its distinctive features and on the contribution of innovation to trace an important new growth path for our company”.
Banca Generali's dividend
Based on the results achieved, Banca Generali's board of directors has proposed the payment of a total dividend of 1,95 euro per share, to be paid in May 2022 (1,15 euro) and February 2023 (0,8 euro). for a 2021 profit payout of 70,5%.
January collection
In January, Banca Generali recorded net inflows of 483 million euros, a figure that compares with 849 million in December and 393 million in January 2021. Last month, the bank said in a note, current accounts they recorded a strong increase (315 million) following the high volatility of the financial markets. Managed solutions amounted to 181 million, a result achieved thanks to the contribution of financial and insurance containers, which recorded total funding of 154 million. Overall, at the end of 2021 total assets amounted to €85,7 billion (+15%), of which €7,3 billion in advanced advisory services (+21%). On the other hand, in 2021 net inflows reached 7,7 billion (+31%).
