Accounts to frame for Banca Generali which closes the nine months of 2021 with a Net income “a record that benefits from dimensional growth and operational scalability”. In detail, profit stood at 270,9 million, up 38% on the same period of the previous year. Double-digit increase (+18%) also for the recurring profit, which reached 132 million euros.
I revenues totals increased by 37% to 612,9 million euros, while the total masses 82,1 billion have arrived (+17%). The net commissions as at 30 September 2021 they grew by 41% to 523 million euros, thanks to a strong boost from the recurring component with 326,4 million euros (+21%), explains Banca Generali in a note.
Going forward with the parameters, the CET1 ratio of the bank led by Gian Maria Mossa is 15,2%, while the Total capital ratio (TCR) is at 16,4%. As for the solo third quarter the net profit was equal to 80,8 million euros (+27%) after having spent – among other things – 8,4 million euros of contributions for bank funds, an increase of 18% compared to last year.
The board of the Bank, in addition to having approved the accounts, has given the go-ahead for the payment of the first dividend from 2019/20 earnings: this is a coupon of 2,7 euros per share. The detachment has been set for November 22, 202, with a record date of November 23, 2021 and a payment date of November 24, 2021. Payment of a second dividend from 60 cents per share entirely referring to the reserve for retained earnings from previous years. The ex-dividend date, in this case, is February 21, 2022, with record date February 22, 2022 and payment date February 23, 2022.
Through a note, the bank underlines “the exceeding all the most ambitious targets of the three-year plan", a reality that "projects the company towards the renewed challenges of the new 2022-2024 plan which will be presented to the financial community at the beginning of next year".
'We continue to grow above the reference market and are heading towards the best year in our history, guaranteeing solidity and returns to the top of the sector for all stakeholders', he comments Gian Maria Mossa, number one of Banca Generali: "excellent results that confirm the quality and uniqueness of our business model focused on the quality of our professionals, increasingly a point of reference not only for private customers but for all those families in need of advice for asset protection". “We view the last part of the year with optimism and this gives us great enthusiasm in view of the challenges and ambitions linked to the new three-year plan that we are preparing for the beginning of next year', concluded the manager.
Good news on the front too net collection. Indeed, October ended with inflows of 560 million, of which 305 million in managed solutions (funds, financial and insurance containers). In October 2020 the figure had been 613 million while in September 2021 it had stopped at 412 million. Since the beginning of the year, on the other hand, funding has reached 6 billion, an increase of 29% compared to the previous year.
