Banca Generali — Earnings Release 2023

Jul 10, 2023

Informazione Regolamentata n. 0856-38-2023		Data/Ora Inizio Diffusione 10 Luglio 2023 12:25:12	Euronext Milan
Societa'	:	BANCA GENERALI
Identificativo Informazione Regolamentata	:	179121
Nome utilizzatore	:	BCAGENERALIN04 - Zazzaro
Tipologia	:	REGEM
Data/Ora Ricezione	:	10 Luglio 2023 12:24:59
Data/Ora Inizio Diffusione	:	10 Luglio 2023 12:25:12
Oggetto	:		Banca Generali - PR Net Inflows June 2023
Testo del comunicato

Vedi allegato.

PRESS RELEASE

Total net inflows at €527 million in June (€3,269 million YTD)

Net inflows of managed solutions and Advanced Advisory on AUC at €333 million (€1,609 million YTD)

Milan, 10 July 2023 – Banca Generali's net inflows amounted to €527 million in June, bringing the YTD total to €3.3 billion, +7% compared to the same period of the previous year. The strong and constant uptrend thus continued even in a month marked by sharp seasonality.

With regard to products, managed solutions reported a good result with €159 million net inflows in June (€679 million YTD). In the month, in-house funds stood out (€120 million in June) benefiting from new investment protection solutions, and financial wrappers (€78 million in June) also continued to be highly appreciated thanks to their bespoke services.

Net inflows from insurance wrappers grew further (€53 million in June), gradually replacing traditional life insurance policies (-€123 million).

Assets under Custody and deposits reported a net balance of €491 million overall, driven by extraordinary items such as the Bank's placement of BTP Valore for €355 million and clients' tax obligations for €227 million (+48% YoY).

Demand for Assets under Advisory remained solid (€183 million in June; €861 million YTD) and focused on AUC solutions. In detail, net inflows from managed solutions and Advanced Advisory on AUC amounted to €333 million in June (+69% YoY), totalling €1.6 billion YTD (+33% YoY).

Chief Executive Officer and General Manager Gian Maria Mossa stated: "June was again a month of strong growth and quality, despite one-off items such as tax deadlines. The first half of the year highlighted several significant trends: the quality of our value-added investment services, such as asset management and advanced advisory solutions; the gradual normalisation of insurance trends, with wrappers steadily in positive territory and growing gross inflows from traditional life insurance products; inflows from Assets under Custody and deposits focused on short-term solutions and primary market initiatives, with BTP issues above the historical average, as well as on the ongoing activity of our platform for tailor-made issues of structured bonds and certificates.

Direct inflows, excluding taxes and BTP Valore, were stable. The maturities of repurchase agreements favoured value-added products such as the funds offered by our Luxembourg-based platform.

At the end of the first half of the year, we are satisfied with our bankers' ability to seize market trends, with an all-time high productivity of the existing senior structure, which succeeded in mitigating the effects of interest rate hikes and in best supporting households in their investment planning choices. Therefore, we look with confidence and optimism towards the second half of the year, and rapidly forge ahead with our Strategic Plan."

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

PRESS RELEASE

NET INFLOWS IN JUNE 2023¹

Million of Euros	Jun.	Jun.	Jan-Jun	Jan-Jun
	2023	2022	2023	2022
Mutual Funds and SICAVs	28	75	274	463
of which - In House Funds	120	10	303	74
of which - Third party Funds	-92	65	-29	389
Financial Wrappers	78	19	355	377
Million of Euros Insurance Wrappers	Jun. 53 2023	Jun. 68 2022	Jan-Jun 50 2023	Jan-Jun 264 2022
Managed Solutions	159	162	679	1,104
Mutual Funds and SICAVs	28	75	274	463
of which - In House Funds	120	10	303	74
Traditional life Insurance policies	-123	-114	-969	-232
of which - Third party Funds	-92	65	-29	389
Financial Wrappers	78	19	355	377
Managed solutions and life insurance	36	48	-290	872
Insurance Wrappers	53	68	50	264
Assets Under Custody	1,035	526	4,953	1,260
Managed Solutions	159	162	679	1,104
of which - Structured products	57	59	527	423
Liquidity	-544	-41	-1,394	915
Traditional life Insurance policies	-123	-114	-969	-232
of which - Deposits	-397	-41	-1,503	915
Managed solutions and life insurance	36	48	-290	872
of which - Repo	-147	0	109	0
Assets Under Custody	1,035	526	4,953	1,260
AuC products and current accounts	57	59	527	423
of which: Structured products	491	485	3,559	2,175
Liquidity	-544	-41	-1,394	915
of which - Deposits	-397	-41	-1,503	915
Total Net Inflows	527	533	3,269	3,047
of which - Repo	-147	0	109	0
AuC products and current accounts	491	485	3,559	2,175
Total Net Inflows	527	533	3,269	3,047
	Jun.	Jun.	Jan-Jun	Jan-Jun
	2023	2022	2023	2022
Advanced Advisory Net Inflows	183	63	861	155
	Jun.	Jun.	Jan-Jun	Jan-Jun
	174	35	930	106
of which Advanced Advisory on AUC	2023	2022	2023	2022

	Jun.	Jun.	Jan-Jun	Jan-Jun
	2023	2022	2023	2022
Managed Solutions + Advanced Advisory on AUC	Jun.	Jun.	Jan-Jun	Jan-Jun
	333	197	1,609	1,210
Investment services (1) Managed Solutions + Advanced Advisory in Asset Under Custody	2023 265 333	2022 82 197	2023 1,182 1609	2022 494 1210

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)