Banca Generali closed the first nine months of 2014 with a net profit of 132,4 million euro, an increase of 26% compared to 105,1 million in the same period of the previous year. The intermediation margin rose by 22,9% to 330,6 million euro, while the interest margin was dropped from 92,3 million to 82,3 million (-10,9%). In the third quarter alone, Banca Generali's net profit was 43,9 million euro.
Since the beginning of the year, Banca Generali's net inflows have reached 3,1 billion euro, 67% more than the result obtained in the same period last year. At the end of September, assets under management grew by 19% compared to the beginning of the year and reached 33,6 billion euros. Again at the end of September, the Tier 1 capital ratio stood at 13,9%.
Banca Generali's management also reported that in the first 10 months of the year, Banca Generali's net inflows amounted to 3,33 billion euros, 66% more than in 2013. The CEO of the bank, Piermario Motta , also intervened on the coupon: “The Banca Generali's payout will not decrease in absolute terms, ie as a dividend, but could decrease in relative terms, ie as a percentage of profit. We can announce the 95 cents of 2013 as a floor,” said Motta. Around 14,30 the Banca Generali stock in Piazza Affari it travels just below parity, losing 0,4% a 21,06 euro.
