Banca Generali S.p.a. · MIL:BGN
Banca Generali — Q1 2024 Earnings Presentation
71 slides from Banca Generali's earnings presentation, May 9, 2024
Slide 1: Investor Presentation 1Q 2024 Results
Investor 1Q 2024 RESULTS Presentation May 2024
Slide 2: To be the No. 1 private bank
To be the No. 1 private bank, unique by value of service, innovation and sustainability 1Q 2024 Financial Results To be the No. 1 Balance Sheet & Capital Ratios private bank, unique Net Inflows, Assets and Recruiting by value of Business Update and Closing Remarks service, innovation Annex and susta
Slide 3: 1Q 2024 Results: Executive Summary
1Q 2024 RESULTS: EXECUTIVE SUMMARY 1Q 2024: strong delivery on all business lines • Net profit at €122.0m (+47% YoY) driven by asset growth and favourable financial markets • Client assets at €96.8bn (+13% YoY), of which 70% Private Clients with >€500k assets • Sound net inflows trend (€1.6bn) with
Slide 4: Net Profit
NET PROFIT STRONG START TO 2024 DRIVEN BY ASSET EXPANSION AND INVESTMENT PERFORMANCE Net Profit 83.1 92.0 80.1 71.0 122.0 €\m Strong 1Q 2024 net profit at +6.5% €122.0m (+47% YoY) Recurring Net Profit1 including posting to 1Q of the €\m +16.4% full-year deposit guarantee 89.1 83.8 scheme contributio
Slide 5: Net Financial Income
NET FINANCIAL INCOME SUPPORTED BY IMPROVING NET INTEREST MARGIN Net Financial Income €\m +12.0% +4.4% 1Q 2024 NFI at €83.9m 86.4 83.9 (+12% YoY) tracking NII 79.7 80.4 74.9 5.9 4.5 trend 3.1 4.1 4.0 71.0 80.5 76.6 76.3 79.4 1Q 2024 NII at €79.4m (+12% YoY) reflecting ongoing asset repricing 6.3 6.9
Slide 6: Total Gross Fees
TOTAL GROSS FEES ACCELERATING RECOVERY FROM PREVIOUS QUARTERS Total Gross Fees 243.1 234.2 240.8 250.1 311.3 €\m 1Q 2024 gross +7.9% recurring fees (+7.9% +6.5% YoY) benefitted from the recovery in average assets and revenue 256.8 diversification initiatives Gross Recurring Fees 238.1 240.6 238.0 24
Slide 7: Gross Recurring Fees (1/4)
GROSS RECURRING FEES (1/4) IMPROVING TREND ACROSS THE BOARD Investment Fees1 €\m +4.7% Management Fees +3.7% 209.2 211.2 214.4 211.2 219.1 Advisory Fees 9.4 10.3 10.6 11.0 11.8 1Q 2024 investment 199.8 200.9 203.8 200.2 207.3 fees (+5% YoY) on the rise driven by volume increase in 1Q23 2Q23 3Q23 4Q2
Slide 8: Gross Recurring Fees - Management Fees (2/4)
GROSS RECURRING FEES - MANAGEMENT FEES (2/4) ACCELERATION DRIVEN BY ASSET EXPANSION Management Fees €\m +3.7% +3.6% 199.8 200.9 203.8 200.2 207.3 1Q 2024 management fees (+4% YoY) tracked average AUM in a context of stable profitability 1Q23 2Q23 3Q23 4Q23 1Q24 Avg. AUM €\bn +3.7% +4.2% 56.1 56.1 56
Slide 9: Gross Recurring Fees - Advisory Fees (3/4)
GROSS RECURRING FEES - ADVISORY FEES (3/4) GROWING CONTRIBUTION TO RECURRING FEES Advisory Fees1 €\m +25.4% +6.8% 10.6 11.0 11.8 9.4 10.3 1Q 2024 advisory fees (+25% YoY) tracking trend in average assets under 1Q23 2Q23 3Q23 4Q23 1Q24 advisory Avg. Assets under Advisory1 €\bn +25.7% +8.6% 1Q 2024 fe
Slide 10: Gross Recurring Fees - Other Fees (4/4)
GROSS RECURRING FEES - OTHER FEES (4/4) SPIKE IN CLIENT ACTIVITY Other Fees €\m +30.8% Entry Fees 1Q 2024 entry fees (+55% +26.0% 37.8 YoY) driven by fees of 30.0 Brokerage Commissions 28.9 29.4 6.5 €12.4m (+47% YoY) on 23.7 5.0 certificates and other 6.6 6.3 Other Banking Fees 6.3 14.8 placements,
Slide 11: Total Payout Ratio on Fees
TOTAL PAYOUT RATIO ON FEES PRODUCT MIX AND MARKET RATES CAUSING SOME SHORT-TERM VOLATILITY Total Fee Expenses 131.3 124.9 130.6 123.6 138.5 €\m o/w Fee Expenses on NII1 2.5 3.0 3.3 3.0 3.6 Total fee expenses at €138.5m (+11% YoY) with 45.6% 46.9% 47.1% 46.3% the change in pay-out to O/w Payout to FA
Slide 12: Operating Costs (1/2)
OPERATING COSTS (1/2) ONE OFF GROWTH IN STAFF AND SALES PERSONNEL COST Total Operating Costs €\m +7.2% -17.9% Total operating costs 83.2 (+7.2% YoY, -17.9% QoQ) Non Core Items 63.7 63.6 66.2 4.6 68.3 including €1.5m one-off Sales Personnel 1.3 6.2 1.5 items linked to business 1.1 1.0 5.5 5.0 5.7 str
Slide 13: Operating Costs (2/2)
OPERATING COSTS (2/2) COST RATIOS AT NEW BEST LEVELS EVER Operating Costs / Total Assets Cost / Income Ratio 0.45% 54.8% 55.8%54.7% 0.40% 52.8% 0.37% 0.33%0.33% 46.9%47.3% 0.31%0.30% 0.31%0.30% 0.28% 0.28% 44.6% 43.0% 40.8% 45.9% 42.1% 42.1% 35.1% 40.7% 40.1% 33.0% 37.4% 36.0%36.8% 34.9% 31.1% 26.6%
Slide 14: Summing Up
SUMMING UP Comments (€m) 1Q23 1Q24 % Chg Operating result (+45% YoY) posted a strong increase benefitting from an Net Financial Income 74.9 83.9 12.0% acceleration of both recurring and variable Net recurring fees 113.3 118.3 4.5% fees, coupled with favourable interest rates Variable fees 5.0 54.4 n
Slide 15: To be the No. 1 private bank
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2024 Financial Results To be the No. 1 private bank, unique Balance Sheet & Capital Ratios by value of Net Inflows, Assets and Recruiting service, innovation Business Update and Closing Remarks and sustainabili
Slide 16: Balance Sheet – Total Assets
BALANCE SHEET – TOTAL ASSETS FURTHER ASSET REPRICING COUPLED WITH DEPOSIT STABILIZATION Total Assets & Interest Bearing Assets: Volumes and Yields €\bn 17.0 1Q 2024 interest bearing Interest Bearing Assets 15.5 15.2 1.2 assets little changed at Financial Assets 1.1 1.0 €13.8bn (-3% YTD) 2.5 2.3 2.2
Slide 17: Balance Sheet – Total Liabilities & Equity
BALANCE SHEET – TOTAL LIABILITIES & EQUITY COST OF FUNDING ON A DOWNWARD TREND Total Liabilities & Equity: Volumes and Yields €\bn 1Q 2024 total deposits at Total Deposits 17.0 €13.1bn (-3% YTD) mostly on 15.5 15.2 1 2.2 lower deposits from banks (-19%) Client Deposits 1.3 1.0 1.1 while client depos
Slide 18: Capital and Liquidity Ratios
CAPITAL AND LIQUIDITY RATIOS STRONG INCREASE IN CAPITAL RATIOS Total Capital Ratio % Leverage Ratio % CET1 RWA optimisation AT1 Strong increase in capital 21.2% 19.0% 1.2% position (CET1: +2.2ppt 17.4% 5.4% 5.7% 16.7% 1.5% YTD, +3.7ppt YoY) thanks to 1.2% 1.1% 1.1% 4.6% retained net earnings and 4.3
Slide 19: To be the No. 1 private bank
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2024 Financial Results To be the No. 1 Balance Sheet & Capital Ratios private bank, unique by value of Net Inflows, Assets and Recruiting service, innovation Business Update and Closing Remarks and sustainabili
Slide 20: Total Assets (1/2)
TOTAL ASSETS (1/2) NEW ALL TIME HIGH DRIVEN BY THE RECOVERY IN ASSETS UNDER INVESTMENT Total Assets (Traditional View) €\bn Total Assets by Fee Category1 €\bn +13% 92.8 96.8 1Q 2024 total assets at 92.8 +4% 96.8 85.9 85.9 €96.8bn (+13% YTD) 10.5 10.5 31.5 thanks to net new money 11.1 26.1 29.9 24.9
Slide 21: Total Assets (2/2)
TOTAL ASSETS (2/2) IN-HOUSE SOLUTIONS DRIVING GROWTH IN AUM PRODUCTS AUM Products €\bn o/w Managed Solutions - Wrappers €\bn +6% +11% 1Q 2024 AUM product +4% +3% 59.4 21.1 22.0 (+6% YoY) growth 55.9 57.4 Insurance 19.9 enhanced by managed Wrappers solutions’ robust 14.7 14.3 14.5 10.6 10.9 10.3 perf
Slide 22: Net Inflows (1/2)
NET INFLOWS (1/2) SOLID VOLUME, IMPROVING PRODUCT MIX Total Net Inflows (Traditional View) €\bn Net Inflows Breakdown by Fee Category1 €\bn +8% 1Q 2024 net inflows at €1.6bn (+8% YoY) 1.5 1.5 1.6 showing: 1.6 • Recovery in demand 2.6 1.0 for investment 1.5 1.4 products, driven by in- 0.2 house solut
Slide 23: Net Inflows (2/2)
NET INFLOWS (2/2) RECOVERY DRIVEN BY IN-HOUSE SOLUTIONS AUM Products €\bn o/w Managed Solutions - Wrappers €\bn Turnaround in AUM products in 1Q 2024 0.3 0.3 supported by the Insurance Wrappers stabilisation in traditional 0.1 0.2 insurance 0.3 0.2 Financial 0.3 Wrappers 0.2 In-house products at €0.
Slide 24: To be the No. 1 private bank
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2024 Financial Results To be the No. 1 Balance Sheet & Capital Ratios private bank, unique Net Inflows, Assets and Recruiting by value of service, innovation and sustainability Business Update and Closing Remar
Slide 25: April Net Inflows Confirm Growing Quality Results
APRIL NET INFLOWS CONFIRM GROWING QUALITY RESULTS RECOVERY IN AUM NET INFLOWS GATHERS PACE 4M Cumulated Net Inflows 2023 vs. 2024 April Net Inflows Levers (2022-2024 Trend) Net Inflows Total Net 0.5 0.6 Inflows 2.0 0.1 €\bn 1.9 2.3 2024 Net Inflows Target AUM 0.5 3.2 0.6 0.3 confirmed (>€6bn) with p
Slide 26: Net Inflows Levers – Recruiting
NET INFLOWS LEVERS – RECRUITING LEVERAGING ON BOTH SENIOR PROFESSIONALS AND YOUNG TALENT ATTRACT THE BEST PROFESSIONALS ONBOARD THE NEXT GENERATION of FAs No. of New Senior No. of New Junior Assets managed by Recruits Recruits Teams €\bn 123 93 70 81 17.9 16.5 40 42 15.0 59 1.3x 2.1x 12.4 44 9.9 +19
Slide 27: Net Inflows Levers – International Expansion
NET INFLOWS LEVERS – INTERNATIONAL EXPANSION SWITZERLAND, €500-700M NET INFLOWS EXPECTED IN 2024 + EXPAND INTERNATIONAL NET INFLOWS (SWITZERLAND) September 2023 - Banking licence granted to BG Suisse by FINMA 6 May 2024 - BG Suisse bank branch in Lugano officially opened May 2024 - FOS licence BG Su
Slide 28: Net Inflows Levers – Reinvesting AUC Opportunity
NET INFLOWS LEVERS – REINVESTING AUC OPPORTUNITY GRADUAL SHIFT TO ASSETS UNDER INVESTMENT EXPECTED LARGE AUC ASSETS POOL AVAILABLE FOR REINVESTMENT AUC Assets by Product Mix1 €\bn Key Features 26.8 13% 24.7 23% ▪ €5.2bn bonds due to expire within 1Year 18.9 13% 17% 23% ▪ 2/3 of bonds carrying unreal
Slide 29: Net Inflows Levers – Product Mix
NET INFLOWS LEVERS – PRODUCT MIX GROWING FOCUS ON IN-HOUSE FUNDS POSITIVE MOMENTUM FOR IN-HOUSE FUNDS In-house Funds % on Total Retail BG FML Total Assets €\bn Product Innovation Fund Assets Launch of new sub-funds 46.6% (Live from April 2024) 21.4 20.1 44.3% 19.1 43.8% 1Q22 1Q23 1Q24 1Q22 1Q23 1Q24
Slide 30: Well on Track to 2022-2024 Financial Ambitions
WELL ON TRACK TO 2022-2024 FINANCIAL AMBITIONS IN FINAL YEAR OF 3Y STRATEGIC PLAN Objectives KPIs 2022-2024 Targets 2024 Targets Cumulated Consistent growth net inflows €18bn–€22bn > €6bn 2022-2024 Growth in recurring 10%–15% 15%-20% Profitable growth net profit1 2021-24 CAGR 2021-2024 CAGR 2021-202
Slide 31: To be the No. 1 private bank
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2024 Financial Results To be the No. 1 Balance Sheet & Capital Ratios private bank, unique Net Inflows, Assets and Recruiting by value of service, innovation Business Update and Closing Remarks Annex and sustai
Slide 32: Focus on Financial Assets (1/3)
FOCUS ON FINANCIAL ASSETS (1/3) HIGH QUALITY, LIQUID AND WELL DIVERSIFIED INVESTMENT MIX Focus on Financial Assets (Banking Book) Total PTF Classification Bond PTF Classification Financial assets are high quality and well 5% diversified: Equity & Italy Govt Bonds • 98% of the bond portfolio is made
Slide 33: Focus on Financial Assets (2/3)
FOCUS ON FINANCIAL ASSETS (2/3) SHARP RISE IN INVESTMENT YIELDS Total NII Yield: Quarterly Trend Financial Assets Yield: Quarterly Trend 2.31% 3.14% 2.99% 2.13% 2.14% 2.13% 2.80% 2.63% 1.82% 2.12% 1.42% 1.42% 0.95% 0.71% 0.89% 0.66%0.60% 0.75% 0.60% 0.75% 0.66% 0.63% 0.56% 0.48% 0.50% 0.56% 1Q 2Q 3Q
Slide 34: Focus on Financial Assets (3/3)
FOCUS ON FINANCIAL ASSETS (3/3) LIQUID INVESTMENT PROFILE THANKS TO SHORT TERM MATURITIES Bonds - Banking Book Maturities by Year €\bn Bonds - Banking Book Maturities by Accounting Treatment €\bn 2.6 HTC HTCS 2.1 1.4 1.3 1.2 0.9 0.8 1.0 0.6 0.5 1.2 1.2 0.2 0.3 0.9 0.8 0.1 0.1 0.6 0.6 0.5 0.4 0.3 0.1
Slide 35: Focus on Loan Book
FOCUS ON LOAN BOOK HIGH QUALITY LOAN BOOK Total Assets and Interest Bearing Assets €\bn Focus on Loan Book (Banking Book) 1Q24 Credit Book €\bn Lending Quality % 17.0 0.8 Interest Bearing Assets 15.5 15.2 1.2 0.6 Financial Assets 1.1 1.0 2.5 2.3 2.2 1.6 Loans to Clients 99.2 Loans to Banks & Other A
Slide 36: Focus on BG Fund Management Luxembourg (BG FML)
FOCUS ON BG FUND MANAGEMENT LUXEMBOURG (BG FML) DEEP DIVE ON ASSETS BG FML - Assets by SICAV €\bn BG FML – Total Assets €\bn +12% 21.4 20.4 BG FML Sicavs are 19.1 Institutional Fund distributed both as +5% 21.4 Classes 10.3 10.7 retail funds as 20.4 9.8 19.1 0.2 building blocks 0.1 for wrapper 0.2 3
Slide 37: Focus on Net Inflows (1/2)
FOCUS ON NET INFLOWS (1/2) RECOVERY IN RECRUITING BY NUMBER AND QUALITY Net Inflows by Acquisition Channel €\bn Recruitment by Acquisition Channel # Recovery in the 51 number of new 1.6 recruits thanks to 1.5 18 more favourable 0.2 financial markets 0.6 29 Well-diversified 9 20 quality of new 1.3 re
Slide 38: Focus on Net Inflows (2/2)
FOCUS ON NET INFLOWS (2/2) HIGH QUALITY DELIVERY FROM MANAGED SOLUTIONS IN APRIL Net Inflows Breakdown by Focus on Fee Category1 €\bn Managed Solutions €\bn Managed solutions made up the most of Assets under 2.3 0.4 Investment in April driven by wrapper solutions and in- 0.2 house funds 1.4 0.2 0.1
Slide 39: Focus on Financial Advisory Network (1/2)
FOCUS ON FINANCIAL ADVISORY NETWORK (1/2) SIZE OF THE NETWORK AND KEY FEATURES No. of FAs # Key highlights 2,260 2,297 <35 2,162 2,204 Age 2,040 2,087 35-50 1,936 1,985 ~55 1,841 >50 1,715 1,645 1,475 Male Gender Female 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q24 Headline FA retentio
Slide 40: Focus on Financial Advisory Network (2/2)
FOCUS ON FINANCIAL ADVISORY NETWORK (2/2) WIDENING THE GAP WITH THE REST OF THE INDUSTRY Average FA portfolio (Assets per Financial Advisor) €\m 1 41.7 Banca Generali Assoreti 40.6 39.2 37.3 35.1 32.8 28.8 29.0 25.8 25.8 26.4 24.3 24.0 23.1 22.2 21.2 19.7 18.0 17.9 18.4 15.7 15.8 15.9 14.2 14.6 12.9
Slide 41: Focus on Clients
FOCUS ON CLIENTS TREND AND KEY FEATURES Total No. of Clients ‘000 Breakdown by cluster of Clients 353k €95.7bn1 349 353 342 0.6% 332 9.9% 26.3% 312 27.9% 299 >5m 290 500k-5m 279 43.8% 100-500k 263 <100k 245 249 61.6% 23.2% 228 6.7% No.of Clients AUM (bn/€) Private Banking Assets2: €67.1bn Private Ba
Slide 42: To be the No. 1 private bank
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2024 Financial Results To be the No. 1 Balance Sheet & Capital Ratios private bank, unique Net Inflows, Assets and Recruiting by value of service, innovation Business Update and Closing Remarks Annex and sustai
Slide 43: Banca Generali in a Nutshell
43 BANCA GENERALI IN A NUTSHELL MAIN HIGHLIGHTS One of the fastest-growing asset gatherers in Europe1 (assets tripled in 10Y) and the #3 player in the Private Banking space in Italy2 Capital-light business model, leveraging on a Network of 2,297 Financial Advisors ranked at the top of the industry3
Slide 44: Banca Generali's Ambitions
44 BANCA GENERALI’S AMBITIONS MISSION, VISION AND PURPOSE Vision To be the No. 1 private bank, unique by Value of Service, Innovation and Sustainability Banca Generali’s dynamism - The fastest growing1 company in Italy over last 10 years with a unique business model centered around a wealth manageme
Slide 45: Banca Generali's Key Milestones
BANCA GENERALI’S KEY MILESTONES A YOUNG, YET FAST-GROWING COMPANY Total Client Assets €\bn Administered assets Managed assets 2023 2013 Launch of New strategic BG Suisse positioning 2020 Private Bank 2019 Partnership with Conio Acquisition of 96.8 Nextam Partners 92.8 2017 (AM boutique) Partnership
Slide 46: Banca Generali's Market Shares
BANCA GENERALI’S MARKET SHARES BG HAS SUCCESSFULLY GROWN ITS SHARE ACROSS ALL SEGMENTS Reference Segment Banca Generali Share 2011 2016 2022 2023 Targetable financial wealth1 0.9% 1.6% 2.4% 2.6% Estimate Private & HNW financial wealth2 1.1% 2.8% 4.5% 4.9% Financial Advisor networks3 10.8% 13.9% 15.7
Slide 47: Banca Generali's Organization
BANCA GENERALI’S ORGANIZATION COMPANY STRUCTURE Company Structure Listed on Milan stock exchange: 50.2% Banca Generali Group owned by Assicurazioni Generali 100% 100% 100% 90.1% 100% Asset Bank Trust Company Trust company Bank Management 47
Slide 48: Business Model
BUSINESS MODEL FOCUSED ON GROWTH AND LEVERAGING ON FLEXIBILITY Banca Generali’s Business Model Financial Advisor Private Banking positioning and Banca Generali’s 1 DISTRIBUTION best in class distribution network core competitive Client advantage • Banking products • Investment Advisory Wealth manage
Slide 49: BG's FAs at Top Ranking in the Industry
BG’S FAS AT TOP RANKING IN THE INDUSTRY 1 BOTH IN TERMS OF POSITIONING AND PRODUCTIVITY Positioning vs Industry Productivity vs Industry FA networks by total assets per capita: FAs vs Client FA networks by net inflows per capita: FAs vs Clients Banca Generali ranks at the top of FA networks, by: Net
Slide 50: BG Network Architecture
1 BG NETWORK ARCHITECTURE NEW NETWORK ORGANIZATION DRIVEN BY PORTFOLIO SIZE AND TYPE OF CONTRACT Cluster Assets (%) FAs (#) Assets/FA (€\m) Senior Senior Partner Network: Senior Partners Partners PTF >€150m 17% 97 165.3 unicum in terms of Network positioning to enhance excellence, support and servic
Slide 51: BG Ranking #4 in FA Networks in Italy
51 BG RANKING #4 IN FA NETWORKS IN ITALY 1 STRONGEST INCREASE IN ASSETS OVER THE LAST 10 YEARS Banca Generali - Total Assets (Assoreti)1 €\bn FA Network Sector Ranking (Assoreti) €\bn 84.6 82.2 91.8 2013 2023 66.8 73.3 55.7 57.5 47.5 29.1 36.6 41.6 €83.7 €320.02 +101% 2013 2014 2015 2016 2017 2018 2
Slide 52: BG Ranking #3 in Private Banking in Italy
52 BG RANKING #3 IN PRIVATE BANKING IN ITALY 1 SUCCESSFUL STRATEGIC REPOSITIONING STARTED IN 2013 Banca Generali - Private Banking Assets1 €/bn Private Banking Sector Ranking (Magstat)2, €/bn 63.7 2013 2022 58.3 55.3 44.2 49.1 25.0 29.2 35.5 36.3 €101.6 €222.2 +86% 21.3 15.8 2013 2014 2015 2016 2017
Slide 53: Banca Generali's Awards
53 BANCA GENERALI’S AWARDS 1 RECOGNIZED PLAYER IN THE ITALIAN WEALTH MANAGEMENT SPACE Wealth Management Financial Advisor Network ESG Best Financial Advisor Sustainability Awards (2023) Best Private Bank network by Customer in Italy (2023) Satisfaction (2023) Banca Generali awarded at the 2023 Susta
Slide 54: BG Well-Diversified Client Portfolio
2 BG WELL-DIVERSIFIED CLIENT PORTFOLIO ALLOWING A TAILOR-MADE VALUE PROPOSITION Total Assets by Product Segment €\bn Total Assets by Asset Mix1 % Total Assets 96.8 €/bn 3% 4% 2% 18% 26.9 44.9 27% 16% 10.5 14.5 12% 19% AUM (Managed solutions + Traditional Managed solutions life insurance) 59.4 €/bn E
Slide 55: Wealth Management Approach
2 WEALTH MANAGEMENT APPROACH SUPPORTED BY A WIDE RANGE OF PREMIER PARTNERSHIPS A new Advanced Advisory model to address financial and non- financial needs of our Clients and their families Art Advisory Real-estate Corporate Advisory Advisory Family Protection PARTNER Financial LAW FIRMS & Planning A
Slide 56: Advanced Digital Supports
3 ADVANCED DIGITAL SUPPORTS INCREASING FAS’ EFFICIENCY AND SUPPORT TO CLIENTS With reference to the business model that characterizes Banca Generali, digitalization and innovation support the relationships between the different parts Ecosystem of digital applications available to Financial CLIENT Ad
Slide 57: Other Supports – Training Approach
3 OTHER SUPPORTS TRAINING APPROACH COMBINING PHYSICAL AND DIGITAL Physical Location Training Platform A space dedicated to classroom training A single channel dedicated to FAs for Financial Advisors, as well as a venue training for representation/events 57
Slide 58: Banca Generali's 2022-24 Strategic Plan
58 BANCA GENERALI’S 2022-24 STRATEGIC PLAN KEY PILLARS AND TARGETS The 2022-24 Strategic Plan aims to take Banca Generali Growth to the next level, building on our vision: To be the no. 1 private bank, unique by Value of service, Innovation and Sustainability. Strategic Pillars F i n a n c i a l Ta
Slide 59: To be the No. 1 private bank
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2024 Financial Results To be the No. 1 Balance Sheet & Capital Ratios private bank, unique Net Inflows, Assets and Recruiting by value of service, innovation Business Update and Closing Remarks Annex and sustai
Slide 60: Ambitions at Work
MOST RELEVANT STRATEGIC PROJECTS AMBITIONS AT WORK Data-driven Bank Continue to build a data-driven, digital and open bank International expansion Speed up of business expansion in Switzerland Sustainability Be the ESG reference point for all our Stakeholders 60
Slide 61: Data-Driven Bank (1/3)
DATA-DRIVEN BANK (1/3) DATA DRIVEN BANK MAIN HIGHLIGHTS DATA-DRIVEN Unrivalled source of direct data collection for financial companies amid growing BANK market regulation (GDPR/AI Act) State-of-the-art data architecture in cloud (AWS) with reference to data collection, data governance and data mana
Slide 62: Scoring of Potential (2/3)
DATA DRIVEN SCORING OF POTENTIAL (2/3) BANK EXPLOITING DATA TO POWER THE COMMERCIAL PROCESS Provide the FA network with engagement Foster collaboration between Cloud architecture in place ideas to stimulate commercial process Bank and FA network Client Banker District Score of Score of Score of Clie
Slide 63: Scoring of Potential (3/3)
DATA DRIVEN SCORING OF POTENTIAL (3/3) BANK FIRST TOOL FOR SCORING CLIENT POTENTIAL First proprietary tool for scoring client potential (fully developed in-house) Data enrichment and analysis based on PSD2 and machine learning techniques to improve client profiling Commercial approach co-designed wi
Slide 64: Expansion in Switzerland (1/3)
64 INTERNATIONAL EXPANSION IN SWITZERLAND (1/3) EXPANSION MAIN HIGHLIGHTS Large targetable market estimated at ~140 €\bn, of which: - 80 €\bn1 represented by potential assets referring to Italian clients INTERNATIONAL - 60 €\bn1 represented by targetable assets to be managed onshore in Switzerland E
Slide 65: BG Suisse Private Bank (2/3)
BG SUISSE PRIVATE BANK (2/3) INTERNATIONAL EXPANSION TARGET MARKETS AND MODEL CLIENTS MANAGED CLIENTS MANAGED IN SWITZERLAND IN ITALY ➢ Onshore clients in Ticino ➢ BG clients with need for diversification in ➢ Onshore clients in the rest of Switzerland terms of booking centers Target ➢ BG clients an
Slide 66: BG Suisse Private Bank (3/3) Financial KPIs
BG SUISSE PRIVATE BANK (3/3) INTERNATIONAL EXPANSION FINANCIAL KPIS CH operations KPI Ta r g e t €3.6-4.1bn by 2026 Total Assets €\bn o/w €2.6-2.8bn from BG Suisse €500-700m in 2024 Net Inflows # ~€1bn per year from BG Suisse once up and running New 20-30 private bankers New Recruits of in BG Suisse
Slide 67: Sustainability (1/3)
SUSTAINABILITY (1/3) SUSTAINABILITY MAIN HIGHLIGHTS Distinctive ESG commercial approach leveraging on our ESG-dedicated proprietary platform allowing for a unique investment offer aligned to the 17 UN SDGs Strong commitment to offer ESG solutions translating into €18.9bn assets invested in ESG produ
Slide 68: Sustainability (2/3)
SUSTAINABILITY (2/3) SUSTAINABILITY SUSTAINABLE VALUE PROPOSITION ESG Assets €\bn BGPP: our ESG Platform Strong increase in ESG assets1 to €18.9bn, reaching BG Personal Portfolio (BGPP) is our ESG dedicated platform 42.1% of managed solutions (+4.5 ppts YTD) allowing for a unique investment choice a
Slide 69: Sustainability (3/3) ESG Ratings
SUSTAINABILITY (3/3) SUSTAINABILITY ESG RATINGS: TRENDS & MAIN IMPROVEMENTS Key ratings Main take-aways • In 2022, Banca Generali received a rating of A (on a scale of AAA- CCC) in the MSCI ESG Ratings assessment MSCI Scores • The rating has steadily improved over the past 5 years On a scale from CC
Slide 70: 2024 Upcoming Events, Investor Relations Contacts
2024 UPCOMING EVENTS Investor Relations Contacts JULY Su Mo Tu We Th Fr Sa Giuliana Pagliari 1 2 3 4 5 6 Investor Relations Manager 1H 2024 Results Phone +39 02 408 26548 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Conference Call Mobile +39 331 65 30 620 21 22 23 24 25 26 27 E-mail: giuliana.pagliari@ba
Slide 71: Disclaimer
DISCLAIMER The manager responsible for preparing the company’s financial reports (Tommaso Di Russo) declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law of Finance, that the accounting information contained in this presentation corresponds to the document results, books and a