(Reuters) – Banca Generali exceeded analyst expectations on Monday with a 32% jump in 2024 net profit to 431.2 million euros ($445.21 million).
The private bank controlled by Italy’s top insurer Generali proposed a dividend of 2.80 euros per share, with a 76% total payout ratio on its 2024 net profit.
The bank added it aims at reaching over 6 billion euros in total net inflows in 2025, with more than 3.5 billion euros arising from assets under investment.
Banca Generali said it expects also “important” leveraging in its private banking positioning to arise in 2025 from its acquisition of Milanese broker Intermonte.
Total assets managed and administered by the bank at 2024-end grew almost 12% on the year to 103.8 billion euros, with total net inflows up 14% at 6.6 billion euros.
“We are laying the foundations for a new, ambitious growth phase that will lead us to be increasingly seen as a benchmark in our role”, said CEO Gian Maria Mossa in a statement.
Banca Generali is expected to present its 2025-27 business plan in the second quarter of 2025.
($1 = 0.9685 euros)
(Reporting by Philippe Leroy Beaulieu; Editing by Bernadette Baum and Louise Heavens)
