Q2 2025 Banca Generali SpA Earnings Call Transcript
Key Points
- Banca Generali (FRA:B7A) reported a record high in client assets, reaching EUR106.5 billion.
- The company achieved a strong recurring net profit of EUR176.3 million, marking the best level ever.
- Net interest income was robust at EUR82.4 million, driven by asset expansion.
- The partnership with Generali is expected to significantly enhance the mutual banking business.
- The company is confident in maintaining a stable net interest income yield of 200 basis points or higher for the remainder of the year.
- Gross recurring fees slightly declined due to market effects, although this is expected to be temporary.
- There was a temporary slowdown in recruitment activities due to uncertainty over the exchange public offer.
- The cost of risk increased this quarter, attributed to specific write-offs and guarantees.
- The market crash at the beginning of April negatively impacted management fees.
- There is a temporary slowdown in the recruitment of financial advisers, impacting growth in that area.
Good afternoon. This is the Corsco conference operator. Welcome, and thank you for joining the Banca Generali first-half 2025 results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Gian Maria Mossa, CEO and General Manager of Banca Generali. Please go ahead, sir.
Good afternoon, and thank you for attending our first Alpha results conference call. The overall results were pretty solid, driven by recurring business with recurring net profit at EUR176.3 million reaching the best level ever. And this was driven also by asset expansion with client assets at a new record high at EUR106.5billion. The first half was also very important for us because we set up the issue of banking business thanks to the partnership with Generali and we will deep dive in the last section of the presentation.
But letâs start as usual by numbers. Net profit, page 4. The second quarter closed at almost EUR90 million,
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