Table of Contents:
A record month of October for Banca Generali
In October 2024, Banca Generali achieved net inflows of 424 million euros, an increase of 36% compared to the same month of the previous year. This result brings the total of new flows since the beginning of the year to almost 5.2 billion euros, an increase of 11% compared to 2023. These data not only highlight the bank’s strength, but also a growing interest on the part of customers in managed savings products
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Consolidated financial results and growing net profit
Banca Generali recently approved the consolidated results for the first nine months of 2024, closing with a consolidated net profit of 338.6 million euros, up 33% compared to the previous year. This result was achieved in a context of favorable financial markets, thanks to a flexible and diversified Wealth Management model. The Chief Executive Officer, Gian Maria Mossa, emphasized that the bank is experiencing one of the best periods in its history, both in financial terms and in terms of customer portfolio.
Increase in assets under management and investment flows
The total assets managed by Banca Generali reached a new all-time high of 101 billion euros, an increase of 13.8% compared to the previous year. Assets under Investment, which represent 67% of the total, reached 67.7 billion euros, an increase of 7.6% since the beginning of the year. This success is mainly attributable to managed solutions, which have seen a significant increase, contributing to a flow of 2 billion euros over the period
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Growing demand for investment solutions
In October, flows in Assets under Investment reached the highest monthly level of the year, amounting to 431 million euros. This result was driven by the success of managed solutions and the recovery in demand for traditional life insurance, in response to the decline in market interest rates. The demand for container solutions, both financial and insurance, raised 357 million euros in the month, highlighting a growing interest in innovative and diversified products
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Future prospects and confidence in the market
With a growing recurring profit and a strong acceleration in the collection of managed savings products, Banca Generali is preparing for a promising future. Mossa highlighted the importance of consultants’ support and customer appreciation, elements that contribute to an optimistic vision for the coming months. The bank continues to invest in improving its services, aiming to maintain its leadership in the Wealth Management sector
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