Banca Generali raises 2026 net inflow target after record first-half

Banca Generali SpA

29/07/2026 12:07

MILAN, July 29 (Reuters) - Italian private bank Banca Generali BGN.MI raised on Wednesday its 2026 net inflow target to around €7.5 billion ($8.54 billion), from a previous estimate of more than €6.5 billion, after reporting record first-half client inflows and better profits supported by favourable financial markets.
The bank said net inflows totaled €4.4 billion in the first six months of 2026, up 47% year-on-year, including more than €2.1 billion into Assets under Investment.
It maintained its forecast for 2026 net interest income of €335-345 million and confirmed an aim of more than €4 billion in annual inflows into Assets under Investment.
Net profit rose 39.2% to €278.7 million in the first half, while recurring net profit increased 14.6% to €202.1 million.
Second-quarter net profit climbed 69.5% to €152.3 million.
Net recurring fees rose 15.3% to €291.9 million, while variable fees nearly tripled to €125.8 million, benefiting from strong market performance. 
Total assets managed, administered and under advisory for Banca Generali clients reached a record €121.1 billion at the end of June, up 13.7% year-on-year.
The bank said it expects core operating costs to increase by 8%-9% in 2026, above its medium-term target range of 6%-8%, reflecting faster implementation of strategic projects.
It also said it expects its tax rate to remain above its longer-term 27%-28% target in 2026 and partly in 2027, due to the application of Luxembourg's ordinary tax rate to subsidiary BG Fund Management Luxembourg.
($1 = 0.8782 euros)

 (Reporting by Gianluca Semeraro, editing by Gavin Jones)
 ((gianluca.semeraro@tr.com; +39 06 80 307 741;))