Banca Generali posts Q3 net profit beat, confirms 2025 guidance (updated)
05/11/2025 13:09
Adds October net inflows in para 3, comment on lapsed bid by Mediobanca in para 4, 2025 guidance in para 5, shares in para 6 Nov 5 (Reuters) - Italian private bank Banca Generali BGN.MI reported a 15.6% rise in third quarter net profit on Wednesday, beating market expectations, and confirmed its guidance for total net inflows in the current year. Net profit totalled 114.5 million euros in the period. That was ahead of the average analyst forecast of 97.7 million euros for the quarter, according to a company-compiled consensus. Banca Generali, controlled by Italy's top insurer Generali GASI.MI, said that net inflows, the funds entering its accounts and portfolios, amounted to 1.18 billion euros in October, compared with 424 million euros in the same month a year ago. That figure brought total net inflows in the year to date to 5.6 billion euros, up 8% on the year before. Following a thwarted attempt by merchant bank Mediobanca MDBI.MI to buy Banca Generali, the private bank said it had resumed its growth strategy "focused on business expansion, profitability increase, and higher shareholders' remuneration." Banca Generali also confirmed its target for total net inflows of 6 billion euros in 2025. Shares in Banca Generali were up 0.6% at 1304GMT. ($1 = 0.8575 euros) (Reporting by Philippe Leroy Beaulieu in Gdansk; Editing by Matt Scuffham) ((philippe.leroyBeaulieu@tr.com;))