Banca Generali — Earnings Release 2023

Dec 11, 2023

Informazione Regolamentata n. 0856-55-2023		Data/Ora Inizio Diffusione 11 Dicembre 2023 11:00:44	Euronext Milan
Societa'	:	BANCA GENERALI
Identificativo Informazione Regolamentata	:	184291
Nome utilizzatore	:	BCAGENERALIN04 - Zazzaro
Tipologia	:	REGEM
Data/Ora Ricezione	:	11 Dicembre 2023 11:00:43
Data/Ora Inizio Diffusione	:	11 Dicembre 2023 11:00:44
Oggetto	:	2023	Banca Generali - PR Net Inflows November
Testo del comunicato

Vedi allegato.

PRESS RELEASE

Total net inflows at €366 million in November (€5,021 million YTD)

Net inflows of advanced advisory at €70 million (€1,388 million YTD)

Milan, 11 December 2023 – Banca Generali's net inflows amounted to €366 million in November, with a sharply improved product mix and a renewed interest for managed and insurance solutions. Total net inflows exceeded €5.0 billion YTD, in line with the previous year.

With regard to net inflows of managed and insurance products, the in-house range grew by €112 million, whereas third-party solutions were negative at -€44 million, for an overall positive result of €68 million.

In detail, net inflows of traditional life insurance products amounted to €54 million in November, confirming the steady recovery started in the second half of the year. Managed solutions showed positive results, driven by financial wrappers (+€44 million) and in-house funds (+€15 million), which more than offset divestments from third-party funds (-€44 million), in line with the industry trend.

In November, liquidity grew significantly to €426 million overall as a result of important government bond maturities, realised profits earned on securities held in deposit and the constant inflows from new and existing customers. This figure takes into account outflows for customers' tax deadlines amounting to €260 million in November (€1.09 billion YTD; +21% YoY). The liquidity trend allows to confirm an expected net interest income of approximately €300 million for 2023¹ .

Net inflows of advanced advisory amounted to €70 million in the month, bringing the YTD total to nearly €1.4 billion (vs. €619 million for the same period of 2022).

Chief Executive Officer and General Manager Gian Maria Mossa stated: "November was yet another very solid month in terms of net inflows, despite the economic pressures and the interest rate context. We are pleased to see that our efforts to continuously improve the dynamics of our range of products have led to tangible positive results, as confirmed by the quality of the product mix and the renewed interest for diversified and protection-oriented managed solutions. The signs from our bankers regarding both customer acquisition and increased demand for advanced advisory confirm our strong positioning in the private sector and our expectations for a positive year-end in terms of net inflow volumes and quality."

CONTACTS:

www.bancagenerali.com

Media Relations Michele Seghizzi Tel. +39 02 408 26683

Michele.seghizzi@bancagenerali.it

Investor Relations Giuliana Pagliari Tel: +39 02 408 26548

giuliana.pagliari@bancagenerali.it

NET INFLOWS IN NOVEMBER 2023²

	Million of Euros	Nov. 2023	Nov. 2022	Jan-Nov 2023	Jan-Nov 2022
Mutual Funds and SICAVs		-29	152	87	616
	of which - In House Funds	15	82	365	164
	of which - Third party Funds	-44	70	-278	452
Financial Wrappers		44	195	568	752
Insurance Wrappers		-1	-4	0	196
Managed Solutions		14	343	655	1,564
	Traditional Life Insurance Policies		-162	-1,277	-742
Managed Solutions and Life Insurance		68	181 -622		822
Assets Under Custody		-128	827	6,960	3,323
		83	36	947	566
Liquidity	of which - Structured products	426	-507	-1,317	921
	of which - Deposits	390	-523	-1,674	768
	of which - Repo	36	16	357	153
Administered Assets		298	320	5,643	4,244
Total Net Inflows		366	501	5,021	5,066

	Nov. 2023	Nov. 2022	Jan-Nov 2023	Jan-Nov 2022
Advanced Advisory Net Inflows	70	184	1,388	619
of which Advanced Advisory on Administered Assets	59	151	1,516	557
Assets Under Advanced Advisory	-	-	9,101	7,208

	Nov. 2023	Nov. 2022	Jan-Nov 2023	Jan-Nov 2022
Managed Solutions + Advanced Advisory on Administered Assets	73	494	2,171	2,121
Investment Services (2)	115	350	1,904	1,276

CONTACTS:

www.bancagenerali.com

Media Relations Michele Seghizzi Tel. +39 02 408 26683

Michele.seghizzi@bancagenerali.it

Investor Relations Giuliana Pagliari Tel: +39 02 408 26548

giuliana.pagliari@bancagenerali.it

The Manager responsible for preparing the company's financial reports (Tommaso di Russo) 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. Tommaso di Russo (CFO of Banca Generali)