Banca Generali closes the first half of 2017 with results beyond expectations, as confirmed by the CEO and General Manager Gian Maria Mossa: "The best half-year for commercial growth in the Bank's history with strong progress in the income statement, in terms of profitability, solidity and operational efficiency". The stock reacts well to Piazza Affari, reaching +1,4%.
THENet income of the Banca del Leona increased by 61% compared to the same period last year, settling at quota 108,1 million euro. A benefit from this result is also a large expansion of revenues (+34%), due to the growth in size. The push forward in revenues has been accompanied – underlines the company – by acareful operating cost policy which remained in line with the targets, at €93,2 million (+4%).
In addition to the improvements in economic performance, capital solidity ratios were strengthened, confirming the sustainability of development and effective management.
The total assets of the Banca Generali group as at 30 June 2017 grew by 16,5% on an annual basis to €8.874 million (+6% since the beginning of the year).
Le management fees they rose by 18% to €280 million, driven by the increase in volumes and the stability of margins. Also growing entry fees (€28,9 million, +33%), and those of performance (€74 million), favored by the dynamics of the equity markets.
Also positive interest margin, increased by 7% to €31,6 million despite the particularly cautious profile in the treasury's securities portfolio. As at 30 June this amounted to €6 billion (+25%, +12% since the beginning of the year), 99% invested in bonds with durations of less than 2 years (92% of these made up of Italian government bonds, of which 56% floating rate).
La net collection – which focused on asset management and insurance products – in the first half of 2017 it amounted to €3.820 million, an increase of 31% compared to the corresponding period last year, reaching a new high of
period.
The Board also approved the 2016 sustainability report, now in its eighth edition. Policies to raise awareness of the environment and energy consumption have led to a reduction in greenhouse effect emissions of 27,8% in the last three years.
