Banca Generali S.p.a. · MIL:BGN
Banca Generali — 9M 2023 Earnings Presentation
70 slides from Banca Generali's earnings presentation, Nov 13, 2023
Slide 1: Investor Presentation 9M23 Results
Investor 9M23 RESULTS Presentation 13 November 2023
Slide 2: Agenda: 9M 2023 Financial Results
To be the No. 1 private bank, unique by value of service, innovation and sustainability 9M 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: 9M 2023 Results: Executive Summary
9M 2023 RESULTS: EXECUTIVE SUMMARY 9M 2023 results confirmed structurally higher • Client assets reached a new milestone: €88.8bn (+10% YoY) • Sound total net inflows amid challenging backdrop: €4.3bn (+7% YoY) • Recurring net profit at highest level ever: €249.9m (+53% YoY) Flexible business model
Slide 4: Net Profit
NET PROFIT HIGH QUALITY RESULTS REWARDING FLEXIBILITY AND DIVERSIFICATION Net Profit 155.4 255.1 24.1 83.1 92.0 80.1 €\m 9M 2023 reported net profit at €255.1m (+64% YoY) Recurring Net Profit1 +53% 9M 2023 recurring component +51% at €249.9m (+53% YoY) €\m 249.9 exploiting higher rate environment, i
Slide 5: Net Financial Income
NET FINANCIAL INCOME SOUND NII CONFIRMED DESPITE LOWER INFLATION-LINKED BONDS CONTRIBUTION Net Financial Income (NFI) €\m 241.0 9M 2023 NFI increased to +122% 12.9 €241.0m (+122% YoY) driven +94% by higher NII and sticky trading profit -8% 108.7 +160% 228.1 86.4 79.7 9M 2023 NII at €228.1m 20.8 41.2
Slide 6: Total Gross Fees
TOTAL GROSS FEES SOLID RECURRING FEES EVEN CONSIDERING SEASONALITY FACTORS Total Gross Fees 725.6 727.1 231.4 243.1 243.2 240.8 €\m +1% +4% 9M 2023 gross recurring fees posted a small increase (+1% YoY) Gross Recurring Fees leveraging resilient AUM 708.0 716.8 -1% business and increased fee diversif
Slide 7: Management Fees
MANAGEMENT FEES GRADUAL RECOVERY CONFIRMED AMID HIGHER VOLUMES AND STABLE MARGINS Management Fees €\m Management Fees -2% +1% €\m 615.3 9M 2023 management 604.5 fees posted second +1% straight quarter of increase on higher 202.0 199.8 200.9 203.8 assets amid broadly stable pricing 9M22 9M23 3Q22 1Q2
Slide 8: Gross Banking and Entry Fees
GROSS BANKING AND ENTRY FEES POSITIVE DYNAMICS CONFIRMED WITH QOQ AFFECTED BY SEASONALITY Gross Banking and Entry Fees €\m 9M 2023 entry fees (+43% YoY) +21% driven by certificates and other 112.3 placements (+76% YoY) more +25% than offsetting lower underwriting 92.7 fees on AUM (-17% YoY) 30.0 21.
Slide 9: Total Payout Ratio on Fees
TOTAL PAYOUT RATIO ON FEES TOTAL PAYOUT ALMOST STABLE YOY Total Fee Expenses 364.6 379.1 117.4 124.9 130.6 123.6 9M 2023 fee expenses at €\m €379.1m (+4% YoY) of which: 8.7 2.5 3.0 3.3 • €370.4 (+2%) related to o/w Fee Expenses on NII1 recurring fees and cost of growth 46.9% • €8.7m paid to FAs on N
Slide 10: Operating Costs (1/2)
OPERATING COSTS (1/2) COST BASE IN LINE WITH GUIDANCE Total Operating Costs €\m +6.4% 193.5 9M 2023 operating 181.9 +6.8% costs increased by Non Core Items 3.5 2.6 6.4% YoY including 15.6 Sales Personnel 14.7 +4.1% €3.5m non core items (+6% adjusted) Core Operating 62.0 63.7 63.6 66.2 Costs 164.6 17
Slide 11: Operating Costs (2/2)
OPERATING COSTS (2/2) INCREASED EFFICIENCY LEVEL REFLECTED IN COST RATIO IMPROVEMENT 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% 40.8% 0.28% 0.29% 45.9% 41.8%42.1% 40.7% 42.1% 40.1% 37.4% 36
Slide 12: Summing Up
SUMMING UP Comments (€ m) 9M 22 9M 23 % Chg Solid growth in recurring operating results (+43% YoY) reflecting the benefits of higher rates and solid trend Net Financial Income 108.7 241.0 n.m. in net fees (+0.9% YoY excluding Net recurring fees 343.4 337.7 -1.7% Variable fees 17.6 10.3 -41.2% payout
Slide 13: Agenda: Balance Sheet & Capital Ratios
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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
BALANCE SHEET – TOTAL ASSETS HIGH QUALITY AND DIVERSIFIED ASSETS WITH GROWING YIELDS Total Assets and Interest Bearing Assets (IBA): Volumes and Yields €\bn 9M 2023 high-quality Interest Bearing Assets 17.8 17.3 interest bearing assets Financial Assets 15.7 15.5 thanks to diversified and liquid 2.0
Slide 15: Balance Sheet – Total Liabilities & Equity
BALANCE SHEET – TOTAL LIABILITIES & EQUITY ONGOING NORMALISATION IN CLIENT DEPOSITS Total Liabilities & Equity: Volumes and Yields €\bn 9M 2023 client deposits Total Deposits 17.8 were stable in the quarter at 17.3 €11.1bn, representing 81% 1 Client Deposits 1.0 15.7 15.5 of total deposits (€13.7bn)
Slide 16: 2023 NII Guidance
2023 NII GUIDANCE FURTHER REVISED UPWARDS ON LOWER COST OF FUNDING Ta r g e t 2022 2023E 2023 Net Interest Net Interest Income 145 ~300 Income revised (NII) €\m €\m upwards to ~€300m (from min-max range of €250-280) on the basis of a yearly average client Market Rates (6M Euribor, avg.) 0.677% 3.70%
Slide 17: Capital and Liquidity Ratios
CAPITAL AND LIQUIDITY RATIOS SOLID CAPITAL AND LIQUIDITY RATIOS Total Capital Ratio % Leverage Ratio % CET1 AT1 Capital ratios improved by 18.4% 18.5% 5.3% 170bps YTD with an implied 17.4% 16.7% 5.1% 1.3% 1.2% 4.6% 80% dividend accrual (€1.75 1.1% 1.1% 4.3% p.s.) Capital ratios are well above 17.1%
Slide 18: Agenda: Net Inflows, Assets and Recruiting
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 GROWTH PATH CONTINUES AMID DIFFICULT FINANCIAL MARKET CONDITIONS Total Assets €\bn Fee Generating Assets1 €\bn +10% +5% 9M 2023 total assets +7% 88.8 58.9 +3% 60.7 at €88.8bn (+7% YTD) 80.4 83.1 57.5 10.3 4.9 driven by net new 2.9 3.4 12.8 12.1 14.2 money (€4.3bn) and 22.7 15.7 15.4 13.
Slide 20: AUM Breakdown
AUM BREAKDOWN POSITIVE AM PRODUCTS TREND MORE THAN OFFSETTING INSURANCE DRAG AM Products €\bn Insurance Products €\bn AM products increased +8% driven by in-house -5% solutions (+12% YoY, +4% +7% YTD), i.e. financial 30.0 31.3 -4% wrappers and in-house 28.9 Financial Traditional funds 25.7 25.5 24.5
Slide 21: Net Inflows
NET INFLOWS SOLID GROWTH IN VOLUMES AMID HIGHER SHORT-TERM YIELDS ENVIRONMENT Total Net Inflows €\bn Net inflows in Fee Generating Assets1 €\bn 3.9 4.3 Higher 9M 2023 net 5.5 0.2 inflows (+7% YoY) 1.0 amid more challenging 1.4 4.1 financial markets and 0.6 2.1 business conditions 0.9 1.4 6.2 1.5 0.3
Slide 22: Net Inflows by Acquisition Channel
NET INFLOWS BY ACQUISITION CHANNEL STRONG CONTRIBUTION FROM ORGANIC GROWTH Net Inflows by Acquisition Channel €\bn Recruitment by Acquisition Channel # Net inflows driven by existing network 5.5 115 116 (84% of total net 19 inflows vs. 75% a 1.6 4.1 4.3 37 year ago) 85 0.7 1.0 51 29 High retention l
Slide 23: Commercial Update to October 2023
COMMERCIAL UPDATE TO OCTOBER 2023 POSITIVE VOLUMES IN A CHALLENGING ENVIRONMENT Total Net Inflows €\bn Managed Solutions Net Inflows €\bn New Recruits # 1.3 0.2 123 0.6 0.6 107 4.7 38 0.5 0.5 4.6 40 0.1 1.4 7.1 Jan-Oct Jan-Oct 2022 2023 56 2.5 38 Insurance Wrappers 1.3 0.6 -0.6 -1.3 Financial Wrappe
Slide 24: Agenda: Business Update and Closing Remarks
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 25: BG Suisse Private Bank at a Glance
BG SUISSE PRIVATE BANK AT A GLANCE • In September 2023, FINMA granted the banking licence to BG Suisse Private Bank, the new Swiss-based bank 100% controlled by Banca Generali • BG Suisse has been developed internally by Banca Generali with a state-of-the-art digital infrastructure based on core ban
Slide 26: BG Suisse Private Bank: Target Markets and Model
BG SUISSE PRIVATE BANK 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 and new clients that already Cli
Slide 27: BG Suisse Private Bank - CH
BG SUISSE PRIVATE BANK - CH NEW VALUE PROPOSITION TO BETTER SERVE CLIENTS AND ATTRACT PRIVATE BANKERS Business CH on CH Banking and Private Banking Services • On shore clients in Ticino Target Clients CH Resident • On shore clients in the rest of Switzerland (next step) Challenger bank supported by
Slide 28: BG Suisse Private Bank – Italy (1/2)
BG SUISSE PRIVATE BANK – ITALY (1/2) NEW VALUE PROPOSITION TO BETTER SERVE CLIENTS AND EMPOWER FAS Business FOS1 Banking and Private Banking Services ITA Resident w/out Target Clients assets in CH ITA Resident with assets in CH Unique opportunity to provide Clients in Italy with an integrated Value
Slide 29: BG Suisse Private Bank – Italy (2/2)
BG SUISSE PRIVATE BANK – ITALY (2/2) SINGLE VIEW ON ASSETS BOTH IN ITALY (BG) AND IN SWITZERLAND (BG SUISSE) Business FOS1 Integrated Services and Reporting Integrated reporting on BGPA already up and running: opportunity to offer clients a view on their aggregated wealth combining: Assets based in
Slide 30: BG Suisse Private Bank Timeline & Financial KPIs
BG SUISSE PRIVATE BANK TIMELINE & FINANCIAL KPIS September 2023 November 2023 March 2024 (E) 2H 2024 (E) Operations go live Approval by Bank BG Suisse operations Timeline for Swiss resident of Italy of BG extended to Italian FINMA approval of clients Suisse offering in residents after FOS2 the banki
Slide 31: Agenda: Annex
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 9M 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: 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 diversified: 5% • 97% of the bond portfolio is made up of Equity & Italy Govt
Slide 33: 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 2.80% 2.63% 2.13% 2.13% 1.82% 2.12% 1.42% 1.42% 0.86% 0.89% 0.95% 0.87% 0.75%0.71% 0.75% 0.78% 0.75% 0.66% 0.66% 0.60% 0.63% 0.48% 0.56% 0.60% 0.50% 0.56% 3Q 4Q 1Q 2
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 HTC HTCS 2.5 1.9 1.2 2.2 1.0 1.5 0.8 0.7 0.5 0.5 0.5 1.2 0.3 1.0 0.3 0.8 0.7 0.1 0.1 0.4 0.5 0.5 0.3 0.3
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) 17.8 9M 2023 Credit Book €\bn Lending Quality % 17.3 15.5 1.1 Other Assets 2.0 1.4 0.6 Loans to Banks & 2.5 2.5 1.0 Other Assets 2.3 1.6 Loans to Clients 98.9 Financial Assets 11
Slide 36: Focus on AUC Assets
FOCUS ON AUC ASSETS STRONGER VOLUMES DRIVEN BY INTEREST RATE NORMALISATION Intense Activity on AUC for Tactical Reasons, supported by Dedicated Services PRIMARY MARKETS + CERTIFICATES €\bn AUC ASSETS €\bn 1.7 ~22% 1.2 Advisory on AUC of AUC 22.7 0.7 15% 9M22 2022 9M23 Primary & Certificates ~7% of A
Slide 37: Focus on Fee Generating Assets
FOCUS ON FEE GENERATING ASSETS INVESTMENT SERVICES POSTED DOUBLE-DIGIT INCREASE High Quality Growth driven by Bespoke Services and Advisory INVESTMENT SERVICES1 – TREND IN VOLUMES (€\bn) INVESTMENT SERVICES – TREND IN MARGINS +23% +14% 18.7 9M22 2022 9M23 16.4 15.2 Gross Investment Services Margin 1
Slide 38: Focus on BG Fund Management Luxembourg
FOCUS ON BG FUND MANAGEMENT LUXEMBOURG (BG FML) SOLID INCREASE IN ASSETS BG FML - Assets by SICAV €\bn BG FML – Total Assets €\bn +7% BG FML Sicavs are 18.2 18.6 19.4 distributed both as Institutional retail funds and +4% Fund Classes 9.5 9.8 building blocks 19.4 9.3 18.2 18.6 for wrapper 0.2 0.2 Re
Slide 39: Agenda: Banca Generali's Highlights
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 9M 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, €88.8 €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) 88.8 and BG Valuer 85.7 83.1 2017 Partnership with (Swiss trus
Slide 42: Asset Growth
ASSET GROWTH OVER THE LAST DECADE, THE BANK HAS TRIPLED ITS CLIENT ASSETS Total Client Assets €\bn Repositioning on Private Banking and Focus on efficiency and productivity Wealth Management 3x 9M23 total assets 88.8 85.7 83.1 reached the new all- 74.5 time high at €88.8bn 69.0 thanks to positive co
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 (1/3)
FINANCIAL ADVISORY NETWORK (1/3) STEADILY INCREASING SINCE 2014 Breakdown by No. of FAs # Cluster of FAs1 2,162 2,204 2,219 2,248 2.248 €87.82 2,040 2,087 1,936 1,985 1,841 17% 1,715 1,645 37% 65% 54% 2014 2015 2016 2017 2018 2019 2020 2021 2022 9M22 9M23 15% 4% 3% 5% Headline FA retention at 98.1%
Slide 45: Financial Advisory Network (2/3)
FINANCIAL ADVISORY NETWORK (2/3) INCREASING BANCA GENERALI’S LEAD OVER TIME Average FA portfolio (Assets per Financial Advisor) €\m Banca Generali Assoreti 1 39.2 39.0 37.3 35.1 32.8 13.4 14.2 28.8 29.0 13.3 12.0 25.8 11.6 24.3 22.2 10.9 10.6 25.8 24.8 24.0 9.9 23.1 9.7 21.2 8.6 17.9 18.4 15.9 14.6
Slide 46: Financial Advisory Network (3/3)
FINANCIAL ADVISORY NETWORK (3/3) BEST-IN-CLASS RETENTION RATE Retention of Headline FAs Retention of Core FAs 99.4% 99.5% 99.2% 99.4% 99.0% 98.1% 98.6% 98.6% 98.7% 98.7% 98.7% 97.3% 97.4% 97.1% 96.5% 96.2% 96.2% 96.1% 95.8% 95.8% 2014 2015 2016 2017 2018 2019 2020 2021 2022 9M23 2014 2015 2016 2017
Slide 47: 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 48: 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 49: Private Banking Competitive Scenario
PRIVATE BANKING COMPETITIVE SCENARIO BANCA GENERALI FASTER THAN THE SECTOR Banca Generali - Private Banking Assets1, €/bn Magstat, €/bn 2013 2022 58.3 55.3 €101.6 €222.2 +86% 49.1 44.2 35.5 36.3 €81.3 €131.5 +29% 29.2 25.0 #3 16.0 €38.4 €55.31 +365% 11.9 €33.7 €55.0 n.a. 2013 2014 2015 2016 2017 201
Slide 50: Clients Segmentation
CLIENTS SEGMENTATION GROWING CLIENT BASE WITH A FOCUS ON WEALTH ADVISORY NEEDS Total No. of Clients ‘000 Breakdown by Cluster of Clients 348k €87.8bn1 348 0.5% 342 339 332 9.0% 25.3% 312 27.1% >5m 299 290 500k-5m 279 43.1% 100-500k 263 <100k 245 249 63.4% 24.2% 7.4% No.of Clients AUM (bn/€) Private
Slide 51: Total Assets Breakdown
TOTAL ASSETS BREAKDOWN DIVERSIFICATION IN ASSET CLASSES AND KEY GROWTH DRIVERS Total Assets by Product Mix €\bn Product Offer AM products with focus on in-house offer Total Assets 88.8 €/bn Combining in-house offer and open architecture model Financial wrappers maximizing advisors’ freedom to custom
Slide 52: 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 53: Sustainable Value Proposition
SUSTAINABLE VALUE PROPOSITION ESG ASSETS AT 33% OF MANAGED SOLUTIONS ESG AUM €\bn Our ESG offering 40 sub-funds art. 8 and art.92 with strong New and larger scope from end 1 integration of ESG factors and/or specific 2022, following the introduction of thematic features 33.1% the MIFID-ESG regulatio
Slide 54: ESG Ratings
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 CCC to AAA • In July 2023, Banca Genera
Slide 55: Agenda: Investor Day Messages
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 9M 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 56: Growth 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 57: 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 58: 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 59: 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 60: 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 61: 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 62: 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 63: 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 64: 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 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 Sc
Slide 65: 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 66: 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 67: 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 68: 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 69: 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 70: 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