Banca Generali closes the first 9 months of the year with a net profit of 51,2 million euro, down 15% compared to the same period last year. Inflows in October were positive for 162 million, a result that brings the total balance since the beginning of the year to 917 million, of which 531 in asset management products, in sharp contrast with the performance of the asset management sector in Italy.
For the asset management division of the Assicurazioni Generali Group, capital solidity showed a Tier 1 Capital that rose from 11% at the end of 2010 to 12,5% as at 30 September. The group confirmed "a cautiously positive view on the prospects of its business in the coming months, despite being aware of the high degree of volatility of the financial markets and macroeconomic dynamics".
After the release of the quarterly report, Banca Generali shares managed to gain 2,86% in Piazza Affari, before falling back around 14 pm to a more contained +30%.
