Banca Generali — Earnings Release 2016

Dec 6, 2016

Informazione Regolamentata n. 0856-81-2016		Data/Ora Ricezione 06 Dicembre 2016 11:41:23	MTA
Societa'	:	BANCA GENERALI
Identificativo Informazione Regolamentata	:	82523
Nome utilizzatore	:	BCAGENERALIN02 - Seghizzi
Tipologia	:	IRAG 10
Data/Ora Ricezione	:	06 Dicembre 2016 11:41:23
Data/Ora Inizio Diffusione presunta	:	06 Dicembre 2016 11:56:24
Oggetto	:	PR: Net Inflows november 2016
Testo del comunicato

Vedi allegato.

Net inflows at €420 million in November (€4.9 billion YTD; +24%)

Net inflows of managed products at €248 million (€3.4 billion YTD)

Milan, 6 December 2016 – Banca Generali's net inflows amounted to €420 million in November, bringing the YTD figure to €4.9 billion (+24% YoY). Net inflows of managed products also grew to €248 million, totalling €3.4 billion YTD, in line with the excellent 2015 figure.

The unique investment protection and diversification solutions offered by the Bank through innovative asset management products met with great success among the customers, who appreciate the related services and distinctive versatility compared to other products. The uptrend of the 'wrappers' of products (BG Solution and BG Stile Libero) accelerated compared to the previous months, with total net inflows of €283 million, of which €155 million gathered by BG Solution (€1,160 million since its inception in late March) and €128 million by the multi-line policy BG Stile Libero (€1,123 million YTD). Overall, these two solutions accounted for 67% of new net inflows of managed products.

Market volatility and the uncertainties regarding the Italian market continued to foster the acquisition of new customers, who are attracted by the Bank's expertise, professionalism and solidity. The increase in customers was confirmed by the net inflows of assets under administration (chiefly current accounts), as new customers first transfer their accounts and subsequently assess portfolio diversification opportunities.

General Manager Gian Maria Mossa stated: "We are headed for an extraordinary end to the year, with net inflows of nearly €5 billion — an all-time record in the bank's history. This figure is even more significant as it has developed in a context of uncertainties caused by national and international political events. Furthermore, it only includes net inflows gathered by our professionals providing financial advice to households and retail customers, thus without the contribution of institutional assets or net inflows of the online channel. We are well prepared to face the increasing volatility and uncertainty surrounding the Italian situation thanks to the prudent positions taken by the Bank, which will enable us to take full advantage of the coming challenges. The new exclusive solutions, such as the 'wrappers' of managed products, allow for careful protection against risk and have proven to be effective advisory tools, even at complex moments such as the present one."

CONTACTS:

Media Relations

www.bancagenerali.com

Michele Seghizzi Tel. +39 02 6076 5683

Michele.seghizzi@bancagenerali.it

Investor Relations Giuliana Pagliari Tel: +39 02 6076 5548

giuliana.pagliari@bancagenerali.it

NET INFLOWS AND LIFE NEW BUSINESS AT NOVEMBER 2016

Million of Euros	Nov 2016	Oct 2016	Abs. Chg
Mutual Funds	4	18	-14
Managed Portfolio	104	117	-13
Mutual Funds and Managed Portfolio	108	135	-27
Life Insurance	140	233	-93
of which BG STILE LIBERO	128	131	-3
Managed Assets	248	368	-120
Non Managed Assets of which: Securities	172 -71	32 -71	140 0
Total	420	400	20
	Jan-Nov 2016	Jan-Nov 2015	Abs. Chg
Mutual Funds	55	831	-776
Managed Portfolio	865	-154	1,019
Mutual Funds and Managed Portfolio	920	677	243
Life Insurance	2,502	2,761	-259
of which BG STILE LIBERO	1,123	2,082	-959
Managed Assets	3,422	3,438	-16
Non Managed Assets of which: Securities	1,485 74	515 -277	970 351
Total	4,907	3,953	954
Life New Business	Nov 2016	Oct 2016	Abs. Chg
Life New Business	256	318	-62
	Jan-Nov 2016	Jan-Nov 2015	Abs. Chg
Life New Business	3,463	3,828	-365

The Manager responsible for preparing the company's financial reports (Paolo Tamagnini) declares, pursuant to Paragraph 2 of Art. 154-bis of the Italian Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, books and accounting records. Paolo Tamagnini (CFO of Banca Generali)