General Bank closed the first quarter with a Net income up 19%, to 79,1 million. THE total revenue instead they stood at 168,8 million (+26%), while operating costs reached 57,2 million (+14,2%).
On the property side, the Cet1 ratio stands at 14,1% and the Tcr ratio at 15,5%.
The January-March period was "dedicated to growth despite extremely complex market conditions in which we were once again able to demonstrate the strength of our advisory model alongside customers - comments the CEO and general manager of Banca Generali , Gian Maria Mossa – The conditions in the current quarter are more challenging due to the emergency measures and the impact of the crisis, but the solidity of the bank and the consistent demand for consultancy professionalism make us look to the coming months with confidence”.
The group points out that the growth in size continues: net collection in the quarter it reached 1,5 billion and that from the beginning of the year to 1,9 billion. The total masses at the end of the period they stood at 65,2 billion, up on the 61,1 billion of the same period last year, but down on the 69 billion at the end of 2019.
“It's about the best start since 2015 and the second best ever in the history of the bank - reads the note from the institute - The result benefited from the positive performance of the financial markets in January and February, while in the following weeks it was affected by the sudden change in economic conditions and market volatility ”.
As regards the prospects for the rest of the 2020 financial year, "caution remains mandatory until the method of preparation and recovery with the gradual reopening is clear - continues the note - but from an operational point of view the Bank it is confident that it will be able to continue to seize opportunities, and therefore grow above the reference sector of the networks, also for the next few months”.
