Banca Generali closed the first nine months with a consolidated net profit of 97,5 million euro, up 91% compared to the same period of the previous year. Revenues also increased, with the intermediation margin up 43%, to 256,5 million, supported by the particularly positive trend in terms of interest margin and net commissions.
In detail, the interest margin more than doubled compared to last year, settling at 80,4 million (+141%). Finally, operating costs amounted to 110,9 million, with a change of +3,4% compared to the previous year.
In the third quarter alone, net income more than doubled, to $30,3 million, thanks to the 47,3% expansion to 79,4 million in the intermediation margin due to the 146,3% jump in the interest margin (to 29,1 million) and the increase in net commissions (+ about 19%).
In a press release, the Generali subsidiary, which achieved net inflows of around 100 million last month, said it was confident that the positive dynamics seen this year in terms of net inflows, growth in assets and profits would continue in the coming months .
At the beginning of the afternoon, Generali's stock gained more than two and a half points.
