Banca Generali S.p.a. · MIL:BGN
Banca Generali — Q1 2023 Earnings Presentation
70 slides from Banca Generali's earnings presentation, May 11, 2023
Slide 1: Investor Presentation 1Q23 Results
Investor Presentation 1Q23 RESULTS
Slide 2: Agenda
To be the No. 1 private bank, unique by value of service, innovation and sustainability 1Q 2023 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 2023 Results: Executive Summary
1Q 2023 RESULTS: EXECUTIVE SUMMARY Client assets reached new highs despite financial markets’ turmoil. Commercial activity proved solid in terms of volumes, highlighting a strong contribution from existing FAs Best quarter ever for the bank in terms of recurring net profit (+45% YoY) thanks primaril
Slide 4: Net Profit
NET PROFIT STRONG START TO 2023 WITH AN ACCELERATION OF THE RECURRING COMPONENT Net Profit 68.3 63.0 24.1 57.6 83.1 €\m Strong 1Q23 net profit at €83.1m (+22% YoY) +45% Recurring Net Profit1 Recurring net profit at +34% €\m 77.0 €77m (+45% YoY), doubled in the last two years 54.7 55.6 57.6 53.2 The
Slide 5: Net Financial Income
NET FINANCIAL INCOME EXCELLENT RESULTS THANKS TO HIGH EXPOSURE TO LIQUID AND VARIABLE ASSETS Net Financial Income (NFI) €\m +176% 75.0 NFI almost tripled (+176% +26% 4.0 YoY) in the period driven by: 59.6 ‒ Net Interest Income (NII) 2.5 up by 215% YoY reflecting 40.3 41.2 the sharp increase in 27.2
Slide 6: Total Gross Fees
TOTAL GROSS FEES RECOVERY UNDERWAY FROM PREVIOUS QUARTERS Total Gross Fees 258.3 235.9 231.4 234.4 243.1 €\m Gross recurring fees (-3% YoY) changed slightly with an uptick -3% QoQ (+2%) reflecting a +2% rebound in average assets and new revenue streams Gross recurring fees 244.6 234.0 229.4 232.7 23
Slide 7: Management Fees
MANAGEMENT FEES MILD RECOVERY TRACKING THE TREND OF MANAGED ASSETS Management Fees €\m Management Fees -5% Management fees €\m 209.9 +1% tracked closely the trend 203.4 202.0 199.8 of average managed 197.6 assets (-5% YoY, +1% from 4Q22 lows) thus reflecting adverse 1Q22 2Q22 3Q22 4Q22 1Q23 market c
Slide 8: Banking and Entry Gross Fees
BANKING AND ENTRY GROSS FEES SOLID GROWTH ACROSS ALL BUSINESS LINES Banking and Entry Gross Fees €\m +10% Entry fees (+22% YoY) posted +9% 38.3 a healthy rebound driven by 34.8 35.1 higher volumes on certificates 30.6 and other placements (+39%) 27.4 10.7 8.8 9.5 7.5 4.8 Brokerage commissions (+3% 1
Slide 9: Total Payout Ratio on Fees
TOTAL PAYOUT RATIO ON FEES PAYOUT ON FEES BROADLY STABLE Total Fee Expenses 123.9 124.6 122.6 117.4 124.9 €\m Total fee expenses at €124.9m (+0.2% YoY) of o/w Fee Expenses on NII1 1.8 2.5 which: ▪ €122.4m (-2% YoY) paid on recurring fees 45.0% 46.6% 45.5% 46.6% 45.6% and cost of growth O/w payout to
Slide 10: Operating Costs (1/2)
OPERATING COSTS (1/2) SINGLE DIGIT GROWTH INCLUDING ONE-OFF ITEMS AND INFLATION IMPACT Total Operating Costs €\m +6.2% 74.7 Total operating One-off items 60.0 62.0 0.9 63.7 59.9 costs (+6.2% YoY) 5.4 1.1 amid inflationary Sales personnel 0.5 1.0 1.1 5.1 4.4 5.1 environment 5.3 Core operating One-off
Slide 11: Operating Costs (2/2)
OPERATING COSTS (2/2) COST RATIOS AT BEST PRACTICE LEVELS Operating Costs / Total Assets Cost / Income Ratio 0.51% 55.8%54.7% 54.5%54.8% 0.45% 52.8% 0.40% 0.37% 46.9%47.3% 44.6% 0.33%0.33% 43.0% 0.31%0.30% 0.31%0.30% 40.8% 0.28% 45.9% 41.8%42.1% 40.7% 42.1% 40.1% 33.2% 37.4% 36.0%36.8% 33.0% 31.1% 2
Slide 12: Summing Up
SUMMING UP Comments (€ m) 1Q 22 1Q 23 % Chg Operating result excl. performance fees (+43% YoY) posted strong increase benefitting from record increasing net Net Financial Income 27.2 74.9 n.m. financial income and ongoing tight cost Net recurring fees 120.0 113.3 -5.6% control more than offsetting s
Slide 13: Agenda: Balance Sheet & Capital Ratios
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2023 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 14: Balance Sheet – Total Assets (1/2)
BALANCE SHEET – TOTAL ASSETS (1/2) BROADLY STABLE ASSETS, IMPROVING INVESTMENT YIELD Total Assets and Interest Bearing Assets: Volumes and Yields €\bn 17.0 17.3 17.0 Interest bearing assets 1Q22 4Q22 1Q23 1.3 1.5 1.5 changed slightly at 1.8 1.4 1.2 €15.5bn (-1.6% YoY, - Yield on Interest 2.5 0.55% 1
Slide 15: Balance Sheet – Total Assets (2/2)
BALANCE SHEET – TOTAL ASSETS (2/2) HIGH QUALITY, LIQUID AND WELL DIVERSIFIED FINANCIAL ASSETS Total Financial Assets €\bn ECB Eligible Assets1 % of PTF Expiry bond portfolio % 11.9 95% 96% 11.5 11.8 Well diversified and 93% 4% 4% 4% high quality financial 85% 47% 10% 9% 9% assets, reflected by 53% 9
Slide 16: Balance Sheet – Total Liabilities & Equity
BALANCE SHEET – TOTAL LIABILITIES & EQUITY TOTAL DEPOSITS STABLE, WITH SLIGHTLY CHANGING MIX Total Liabilities & Equity: Volumes and Yields €\bn Total deposits at €15.2bn of 17.0 17.3 17.0 which client deposits at 79% 1.0 1.9 2.2 1Q22 4Q22 1Q23 of total 0.7 0.9 1.0 Client deposits influenced Cost of
Slide 17: Capital and Liquidity Ratios
CAPITAL AND LIQUIDITY RATIOS CAPITAL AND LIQUIDITY PROFILE GROWING FROM YEAR-END LEVEL Total Capital Ratio % Leverage Ratio % CET1 AT1 18.4% 5.1% 17.4% 16.7% 17.1% 4.6% 4.3% 4.5% Capital ratios increased in 1.3% 1.1% 1.1% the period even after 1.1% accounting for an 81% dividend pay-out ratio in lin
Slide 18: Agenda: Net Inflows, Assets and Recruiting
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2023 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 19: Total Assets
TOTAL ASSETS NEW HIGHS, FULLY RECOVERING FROM DIFFICULT 2022 FINANCIAL MARKETS Total Assets €\bn AUM + Advisory on AUC €\bn 61.5 58.9 59.8 84.0 83.1 85.9 2.9 1Q23 total assets at all- 3.4 3.9 11.1 time high at €85.9bn 12.3 12.1 16.1 15.4 14.7 (+2.3% YoY, +3.5% YTD) 13.1 15.5 18.9 thanks to solid net
Slide 20: AUM Breakdown
AUM BREAKDOWN FINANCIAL WRAPPERS MOST IN DEMAND ACROSS THE PAST 12 MONTHS AM Products €\bn Insurance Products €\bn 31.6 30.9 30.0 27.0 9.3 25.5 25.0 Total financial and Financial 9.4 9.6 Traditional life insurance wrappers wrappers policies at 23.1% of total Third-party funds Insurance 16.1 assets (
Slide 21: Net Inflows
NET INFLOWS POSITIVE START TO THE YEAR IN TERMS OF VOLUMES Total Net Inflows €\bn Managed Solutions Net Inflows €\bn 1.3 1.5 1Q23 net inflows 0.4 robust in terms of 0.2 0.6 volumes (+4% YoY) 1.7 0.4 and in line with 0.2 0.3 1.5 0.7 0.2 0.2 guidance 2.7 0.2 0.2 0.3 0.6 1Q21 1Q22 1Q23 1Q23 mix biased
Slide 22: Net Inflows by Acquisition Channel
NET INFLOWS BY ACQUISITION CHANNEL ORGANIC GROWTH DRIVING NET INFLOWS Net Inflows by Acquisition Channel €\bn Recruitment by Acquisition Channel # 57 Record-high 53 contribution from the existing network (86% 12 of total net inflows vs. 1.7 an average of 72% in 1.5 1.5 20 2018-2021) 0.6 0.2 22 0.4 2
Slide 23: Commercial Update up to May 2023
COMMERCIAL UPDATE UP TO MAY 2023 SOLID VOLUMES, IMPROVING MIX Total Net Inflows €\bn Managed Solutions Net Inflows €\bn New Recruits # 0.9 2.7 84 0.2 0.5 0.3 2.5 0.3 30 3.9 0.4 1.0 0.2 49 0.7 Jan-May Jan-May 13 32 0.9 2022 2023 0.5 -0.1 22 -0.8 Insurance wrappers -0.9 Financial Wrappers 22 14 Funds/
Slide 24: Agenda: Business Update and Closing Remarks
To be the No.1 private bank, unique by value of service, innovation and sustainability 1Q 2023 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 and sustainabili
Slide 25: Net Interest Income Guidance
NET INTEREST INCOME GUIDANCE CAUTIOUSLY DEFINED AT 230 €\M FOR 2023 Ta r g e t From To Guidance for 2023 on Net Interest Income set at €230m on the basis of: i) higher market rates compared to previous guidance (+20bps 180-190 >200 230 on avg. 6M Euribor vs. 2022 2023 €\m year-end projection); €\m €
Slide 26: Assets Under Advisory & Banking Assets
ASSETS UNDER ADVISORY & BANKING ASSETS STEADILY GROWING VOLUMES AND PROFITABILITY OVER TIME 30.0 21.9 25.4 18.6 AUC 16.1 11.1 AUC + Banking 10.1 12.3 Assets (€\bn) 7.5 9.7 18.9 Banking Administered assets almost 8.6 8.9 11.8 13.1 assets doubled in the last five years 1Q19 1Q20 1Q21 1Q22 1Q23 (+86%)
Slide 27: Investment Services
INVESTMENT SERVICES GROWING FAST, LEVERAGING ON IN-HOUSE CAPABILITIES Investment Services1 Investment services 16.1 17.1 include financial 14.6 wrappers and advanced advisory and are both 11.8 charging explicit fees 9.6 9.3 9.3 8.4 Assets in Investment 7.4 Financial wrappers and Services (€\bn) 6.5
Slide 28: Funds & SICAVs
FUNDS & SICAVS NET INFLOWS ENTIRELY DRIVEN BY NEW PRODUCTS LAUNCHED IN OCTOBER 2022 Funds/SICAVs - Net inflows Split by AM Providers Total in-house funds proved solid thanks to the new initiatives 152 launched in October 130 120 2022 with dedicated 26 46 commercial campaigns 26 44 77 75 58 1 60 97 4
Slide 29: Insurance
INSURANCE NEW INITIATIVES IN CORE BUSINESS START BEARING FRUIT Insurance Products Net inflows in insurance products are heading 10 towards normalisation 39 83 starting from April 38 68 21 27 35 24 2023 reflecting proactive 1 -46 -94 -66 -74 -73 -95 initiatives developed -114 -41 -142 -39 -13 -162 -1
Slide 30: 2022-2024 Financial Targets
2022-2024 FINANCIAL TARGETS SHORT-TERM AND LONG-TERM GUIDANCE CONFIRMED Objectives and KPIs 2022-24 Targets 2023 Targets 2023 Actions Increasing focus on product mix (managed and insurance solutions) Consistent growth Accelerate data driven approach Cumulated net inflows €18bn–€22bn €5.7bn–€6.7bn Ba
Slide 31: Agenda: Annex
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 1Q 2023 Financial Results 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 32: Recurring Net Profit
RECURRING NET PROFIT OPERATING ITEMS DRIVING RECURRING NET PROFIT UP Build up of Recurring Net Profit1 €\m Operating items Non operating items Net recurring profit at +38.6 -14.8 €77m (+45% YoY) Operating component (6.8) (+€38.6m) mainly exploiting (3.1) the new rate environment (2.0) (12.8) thanks
Slide 33: 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) Financial assets’ profile maintaining a high Total PTF Classification Bond PTF Classification quality and diversification 4% • Fixed income (96% of total) is almost entir
Slide 34: Focus on Financial Assets (2/3)
FOCUS ON FINANCIAL ASSETS (2/3) INVESTMENT YIELDS ON THE RISE Total NII Yield: Quarterly Trend Financial Assets Yield: Quarterly Trend 1.82% 2.12% 1.42% 1.42% 0.86% 0.89% 0.77% 0.75% 0.95% 0.74% 0.75% 0.87% 0.71% 0.79% 0.78% 0.66% 0.75% 0.60% 0.60% 0.66% 0.79% 0.63% 0.56% 0.56% 0.48% 0.50% 1Q 2Q 3Q
Slide 35: Focus on Financial Assets (3/3)
FOCUS ON FINANCIAL ASSETS (3/3) LIQUID PORTFOLIO UNDERPINNED BY SHORT MATURITIES Banking Book Maturities by Year €\bn Banking Book Maturities – Split by Accounting Treatment €\bn 2.2 HTC HTCS 1.9 1.8 1.2 1.1 1.0 1.5 2.2 0.8 0.8 0.5 0.6 0.4 1.1 1.0 0.8 0.8 0.2 0.7 0.6 0.1 0.5 0.4 0.3 0.2 0.1 2023 202
Slide 36: 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) €\bn 1Q 2023 Credit Book €\bn Lending Quality % 17.0 17.3 17.0 1.6 Other assets 1.8 1.4 1.2 0.8 Loans to Banks & 2.4 2.5 2.5 other liabilities 1.7 Loans to Clients 98.4 Financial
Slide 37: BG FML in a Snapshot
BG FML IN A SNAPSHOT SOLID INCREASE IN ASSETS BG FML - Assets by SICAV €\bn BG FML - Total Assets €\bn Institutional fund 20.1 18.6 19.1 classes 20.1 19.1 18.6 10.2 9.5 9.8 0.3 Retail fund classes 0.2 0.2 4.1 3.4 LUX IM 3.4 9.9 9.1 9.3 represents 81% 1Q22 2022 1Q23 of total in-house retail fund BG F
Slide 38: New In-House Solutions Launched Since October 2022
NEW IN-HOUSE SOLUTIONS LAUNCHED SINCE OCTOBER 2022 TO NAVIGATE NEW INTEREST RATES PARADIGM New Product Offer New in-house Lux Treasury fund New financial wrapper focused on short term liquidity management Liquidity Management New financial wrapper focused on global bonds Advanced Advisory on bonds N
Slide 39: Agenda: Annex
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 1Q 2023 Financial Results 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 40: Banca Generali at a Glance
40 BANCA GENERALI AT A GLANCE KEY FACTORS & FIGURES Vision, Mission and Purpose Key financial numbers 2022 Vision To be the No. 1 private bank, unique by Value of Service, €85.9 €323.1 €213.0 AUM Net Profit TCR 16.7% Innovation and Sustainability bn1 bnm Mission Trusted professionals constantly by t
Slide 41: Banca Generali's Key Milestones
41 BANCA GENERALI’S KEY MILESTONES A YOUNG, YET FAST-GROWING COMPANY Total Client Assets €\bn Administered assets Managed assets 2013 New strategic positioning 2020 2019 Partnership with Conio Acquisition of Nextam Partners (AM boutique) 85.7 85.9 2017 and BG Valuer 83.1 Partnership with (Swiss trus
Slide 42: Asset Growth
ASSET GROWTH OVER THE LAST DECADE, THE BANK HAS TRIPLED ITS CLIENT ASSETS Total Assets €\bn Repositioning on Private Banking and Focus on efficiency and productivity Wealth Management 3x 1Q23 total assets 85.7 83.1 85.9 reached the new all- 74.5 time high at €85.9bn 69.0 despite financial markets’ t
Slide 43: Market Shares
MARKET SHARES BANCA GENERALI HAS SUCCESSFULLY GROWN ITS SHARE ACROSS ALL SEGMENTS Reference segment Banca Generali Share 2012 2017 2022 Targetable financial wealth1 1.0% 1.8% 2.5% Private & HNW financial wealth2 1.2% 3.3% 4.5% Financial Advisor networks3 11.0% 14.8% 15.7% NOTES: 1) Targetable financ
Slide 44: Financial Advisory Network
FINANCIAL ADVISORY NETWORK STEADY GROWTH BY SIZE SINCE 2014 Breakdown by Total No. of FAs # cluster of FAs1 2,219 €85.0bn2 2,204 2,190 2,219 18% 2,162 2,040 2,087 37% 1,936 1,985 1,841 1,715 1,645 66% 54% 13% 4% 3% 5% No.of FA AUM (bn/€) Wealth Managers (>€50m) 2014 2015 2016 2017 2018 2019 2020 202
Slide 45: Quality of the Network
QUALITY OF THE NETWORK BEST FA QUALITY IN THE INDUSTRY Average FA Portfolio (Assets per Financial Advisor) €\m Banca Generali Assoreti 1 39.2 38.3 37.3 35.1 32.8 13.4 29.0 13.3 14.3 28.8 12.0 25.8 11.6 24.3 22.2 10.9 10.6 25.8 24.0 24.0 9.9 23.1 9.7 21.2 8.6 17.9 18.4 15.9 14.6 13.6 2014 2015 2016 2
Slide 46: Top Ranking in the Industry
TOP RANKING IN THE INDUSTRY 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 inflows 2020-
Slide 47: Net Inflows by Acquisition Channel
NET INFLOWS BY ACQUISITION CHANNEL STRONG CONTRIBUTION FROM THE EXISTING FAS Net Inflows split by acquisition channel €\bn MiFID 2 7.7 6.9 5.9 2.3 5.7 Organic net inflows 5.7 5.0 5.1 accelerated post 4.6 1.6 1.9 4.0 4.2 Mifid 2 representing 3.0 2.7 1.4 2.3 73% of total (avg. 2.3 2.1 5.8 2018-2022) v
Slide 48: Private Banking Competitive Scenario
PRIVATE BANKING COMPETITIVE SCENARIO BANCA GENERALI FASTER THAN THE SECTOR Banca Generali - Private Banking Assets1, €/bn Magstat, €/bn 2013 2021 58.3 55.3 €101.6 €242.6 +103% 49.1 44.2 35.5 36.3 €81.3 €149.2 +47% 29.2 25.0 #3 16.0 €38.4 €58.31 +390% 11.9 €33.7 €48.8 n.a. 2013 2014 2015 2016 2017 20
Slide 49: Clients Segmentation
CLIENTS SEGMENTATION GROWING CLIENT BASE WITH A FOCUS ON WEALTH ADVISORY NEEDS Total No. of Clients ‘000 Breakdown by Cluster of Clients 344k €85.0bn1 344 0.5% 342 332 335 8.9% 24.6% 312 26.8% 299 >5m 290 500k-5m 279 43.3% 100-500k 263 249 <100k 245 63.8% 24.5% 7.6% No.of Clients AUM (bn/€) Private
Slide 50: Total Assets Breakdown
TOTAL ASSETS BREAKDOWN DIVERSIFICATION IN ASSET CLASSES AND KEY GROWTH DRIVERS Product offer Total assets by product mix €\bn Detailed next AM products with focus on in-house offer Total Assets 85.9 €/bn Combining in-house offer and open architecture model Financial wrappers maximizing advisors’ fre
Slide 51: Wealth Management Approach
WEALTH MANAGEMENT APPROACH ADVISORY OPTIONS SPAN FROM FINANCIAL TO NON-FINANCIAL WEALTH A new Advanced Advisory model to address financial and non- financial needs of our Clients and their families Wide array of wealth advisory solutions that extend the Art Advisory conversation with households beyo
Slide 52: Sustainable Value Proposition (1/2)
SUSTAINABLE VALUE PROPOSITION (1/2) THANKS TO A DISTINCTIVE ESG VALUE PROPOSITION ESG Commercial Approach Assets in ESG Products €\bn AUM ESG on Managed Solutions Distinctive ESG value ESG assets1 at proposition linking investment €13.7bn (+6% YTD) decisions to SDGs on a tailor- reaching 33.2% of 33
Slide 53: Sustainable Value Proposition (2/2)
SUSTAINABLE VALUE PROPOSITION (2/2) TOP RANKING ALREADY AND FURTHER IMPROVEMENTS AHEAD Other ratings & memberships A BBB BBB New MSCI Scores BB BB B On a scale from CCC to AAA 2017 2018 2019 2020 2021 Nov.22 62 60 ISS Quality Score Verification Vigeo Moody’s 56 47 ISS, for the Social category, award
Slide 54: Agenda: Annex
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 1Q 2023 Financial Results 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 55: Growth Will Be Achieved Through the Evolution of the Bank
GROWTH WILL BE ACHIEVED THROUGH THE EVOLUTION OF THE BANK BASED ON THREE KEY PILLARS Pillars Value of service Bring the Bank even closer to the FA network and Clients Innovation Continue to build a data-driven, digital and open bank Sustainability Be the ESG reference point for all our Stakeholders
Slide 56: Offer, Service Model and Network Management Approach
OFFER, SERVICE MODEL AND NETWORK MANAGEMENT APPROACH 1 st P i l l a r KEY STRATEGIC GUIDELINES 1 st P i l l a r Value of service Bring the Bank even closer to the FA network and Clients Guidelines KPIs Providing FAs with bespoke products, services and Assets under Targeted offer platforms to anticip
Slide 57: Expanding into New Client Segments
EXPANDING INTO NEW CLIENT SEGMENTS 1 st P i l l a r PRODUCTS, SERVICES AND PLATFORMS TO SERVE CURRENT CLIENTS AND ATTRACT NEW CLIENTS Advanced Client pyramid 1. Advisory 2. In-house offer 3. Insurance 4. AuC & Banking 5. Lending 2021 Client assets1 Introduction of sophisticated and exclusive solutio
Slide 58: Three Dedicated Service Models
THREE DEDICATED SERVICE MODELS 1 st P i l l a r TO BETTER SUPPORT FAS AND CLIENTS New service models Target Client and description High potential Clients Enhanced Enhanced “Double touch” service model, powered by dedicated Family Office data-driven platform, to better capture complex-need HNW Client
Slide 59: Bringing Growth to the Next Level
BRINGING GROWTH TO THE NEXT LEVEL 1 st P i l l a r BY WORKING ON BOTH PRODUCTIVITY AND NETWORK EXPANSION 1. Data-driven approach 1. Service models & targeted offers Managerial initiatives & support Geomarketing & support 2. New talent pools Private talent 2. Next generation & diverse talent Internat
Slide 60: New Recruitment Pools
NEW RECRUITMENT POOLS 1 st P i l l a r DIVERSIFIED ACTIONS TO ATTRACT A WIDER POPULATION OF FAS Recruitment guidelines Private talent + Next generation & diverse talent + International expansion ATTRACT THE BEST ONBOARD THE NEXT EXPAND RECRUITMENT PROFESSIONALS GENERATION OF FAS TO SWITZERLAND Lever
Slide 61: Expanding Growth in Switzerland
EXPANDING GROWTH IN SWITZERLAND 1 st P i l l a r BY ADDRESSING CLIENTS MANAGED IN ITALY AND CLIENTS MANAGED IN SWITZERLAND Targeting >€5bn-€7bn Client assets1 (between productivity and recruitment) over a 5-year horizon Client assets of ~€1.2bn between BG Offering re-location to Swiss Valeur and BG
Slide 62: Strategic Guidelines on Data, Platforms and Partnerships
STRATEGIC GUIDELINES ON DATA, PLATFORMS AND PARTNERSHIPS 2 nd P i l l a r ONGOING PATH TOWARDS INNOVATION 2 nd P i l l a r Innovation Continue to build a data-driven, digital and open bank Guidelines KPIs Systematizing data to power our commercial approach, Operating Costs / Data-driven bank by depl
Slide 63: Data-Driven Bank
2 nd P i l l a r DATA-DRIVEN BANK THE NEXT STEP WILL BE TO EXPLOIT OUR HIGH-QUALITY DATA TO POWER THE COMMERCIAL PROCESS Client Banker District Score of Score of Score of Client FA district potential potential potential 45% 75% 50% Share Family FA Portfolio size District Σ potential of wallet group
Slide 64: Digital Platforms
2 nd P i l l a r DIGITAL PLATFORMS FURTHER FOSTERING PERSONALIZATION, SCALABILITY AND DIGITAL EXPERIENCE Family Office Targeted personal platforms as the enablers data driven platform Advisor to new service models, to achieve greater personalization in our commercial process Onboarding Smart operati
Slide 65: Partnerships Ecosystem
PARTNERSHIPS ECOSYSTEM 2 nd P i l l a r BG’S ARCHITECTURE OPENED TO BEST-OF-BREED PARTNERS OVER TIME Front-end Certificates Workflow & Contact Home/Mobile ESG Data Advisory Hub Automation Center Robo 4 Advisor Banking Investments Trading Digital assets Management Back-end Plugging in solutions from
Slide 66: Strategic Guidelines for BG's Sustainability Path
STRATEGIC GUIDELINES FOR BG’S SUSTAINABILITY PATH 3 rd P i l l a r STATED FOR EACH STAKEHOLDER 3 rd P i l l a r Sustainability Be the ESG reference point for all our Stakeholders Guidelines KPIs Enriching our SDGs1 value proposition by expanding Clients and FAs our ESG offer and continuous training
Slide 67: BG's Sustainability Strategy Based on Four Guidelines
BG’S SUSTAINABILITY STRATEGY BASED ON FOUR GUIDELINES 3 rd P i l l a r DEDICATED TARGETS BY EACH STAKEHOLDER Clients Shareholders Community Employees & Financial Advisors & Authorities & Future Generations Enhance our ESG Reinforce transparency on Further foster diversity & Climate protection and of
Slide 68: Sustainability Commitment: Key 2022 Achievements
SUSTAINABILITY COMMITMENT 3 rd P i l l a r KEY 2022 ACHIEVEMENTS • As of 31/12/2022, 63% of total clients have • In December 2022, Banca Generali already answered the new Mifid questionnaire became a signatory of the Clients & FAs and amongst them 69% have declared HIGH Shareholders & Principles of
Slide 69: 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
Slide 70: 2023 Upcoming Events
2023 UPCOMING EVENTS JULY Investor Relations Contacts Su Mo Tu We Th Fr Sa 1H 2023 Results Giuliana Pagliari 1 Conference Call Investor Relations Manager 2 3 4 5 6 7 8 Phone +39 02 408 26548 9 10 11 12 13 14 15 Mobile +39 331 65 30 620 16 17 18 19 20 21 22 E-mail: giuliana.pagliari@bancagenerali.it