Banca Generali — Earnings Release 2023

Jan 11, 2024

Informazione Regolamentata n. 0856-2	Data/Ora Inizio Diffusione 11 Gennaio 2024 11:30:51		Euronext Milan
Societa'	:	BANCA GENERALI
Identificativo Informazione Regolamentata	:	185241
Nome utilizzatore	:	Zazzaro
Tipologia	:	REGEM
Data/Ora Ricezione	:	11 Gennaio 2024 11:30:51
Data/Ora Inizio Diffusione	:	11 Gennaio 2024 11:30:50
Oggetto	:	Banca Generali - PR Net Inflows Decembre 2023
Testo del comunicato

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PRESS RELEASE

Total net inflows at €834 million in December (€5,855 million YTD)

Net inflows of advanced advisory at €303 million (€1,691 million YTD)

Milan, 11 January 2024 – In December, Banca Generali reported one of the best results ever in terms of monthly net inflows, reaching €834 million¹ . Despite the strong financial market volatility and widespread macro-economic and geopolitical uncertainties, total net inflows reached €5.86 billion in 2023, above previous year's level (+3%).

Furthermore, the recovery of managed and insurance solutions gained momentum in December compared to the previous months, with €256 million net inflows. With regard to products, financial wrappers recorded €131 million net inflows in the month (€699 million in 2023), confirming their ability to best meet private customers' needs thanks to their diversification and customisation features. The demand for insurance solutions, and particularly traditional life insurance policies, rose with €125 million net inflows in December, accelerating the recovery that began in the second half of 2023.

Net inflows of Assets under Custody (AUC) amounted to €560 million in December (€7.5 billion in 2023), also as a result of new placement transactions. As in the previous months, the performance of Assets under Custody was linked to the advanced advisory services offered, whose net inflows (€303 million in December; €1.7 billion in 2023) largely referred to advisory services on administered assets (€238 million in December; €1.75 billion in 2023).

Chief Executive Officer and General Manager Gian Maria Mossa stated: "Thanks to our excellent products and bankers we recorded a marked acceleration at the end of the year. Our clients' total assets exceeded €92 billion, with a rising incidence of value-added investment, advanced advisory and asset management services, which neared €20 billion, up by €3.4 billion in the year. Total net inflows exceeded the 2022 figure, reaching over €5.8 billion thanks to the growing productivity of our existing Financial Advisors. Moreover, despite the year's difficulties, insurance investments clearly reversed their trend in the fourth quarter, as confirmed by December figures.

The year 2023 was not short of challenges and hindrances, also due to the geopolitical context and trend of interest rates, yet we are very satisfied with the quality and strength of our growth: total assets reached a new high mostly thanks to recurring business propelling the bank towards the

achievement of the ambitious targets set in our three-year 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

NET INFLOWS IN DECEMBER 2023²

Million of Euros	Dec. 2023	Dec 2022	Jan-Dec 2023	Jan-Dec 2022
Mutual Funds and SICAVs	0	77	87	693
of which - In House Funds	34	39	399	203
of which - Third party Funds	-34	38	-312	490
Financial Wrappers	131	248	699	1,000
Insurance Wrappers	15	83	15	279
Managed Solutions	146	408	801	1,972
Traditional Life Insurance Policies	110	-73	-1,167	-814
Managed Solutions and Life Insurance	256	335	-366	1,158
Assets Under Custody	560	958	7,520	4,281
of which - Structured products	46	112	993	678
Liquidity	18	-653	-1,299	268
of which - Deposits	159	-550	-1,515	218
of which - Repo	-141	-103	216	50
Administered Assets	578	305	6,221	4,549
Total Net Inflows	834	640	5,855	5,707

	Dec. 2023	Dec 2022	Jan-Dec 2023	Jan-Dec 2022
Advanced Advisory Net Inflows	303	321	1,691	940
of which Advanced Advisory on Administered Assets	238	257	1,754	814
Assets Under Advanced Advisory	-	-	9,586	7,387

	Dec. 2023	Dec 2022	Jan-Dec 2023	Jan-Dec 2022
Managed Solutions + Advanced Advisory on Administered Assets	384	665	2,555	2,786
Investment Services (2)	429	542	2,333	1,818

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)

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

2 Investment services coming from financial wrappers and fee-based advisory

Fine Comunicato n.0856-2	Numero di Pagine: 4
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