Banca Generali S.p.a. · MIL:BGN
Banca Generali — 9M 2024 Earnings Presentation
72 slides from Banca Generali's earnings presentation, Nov 7, 2024
Slide 1: Investor Presentation 9M 2024 Results
Investor 9M 2024 RESULTS Presentation 7 November 2024
Slide 2: Agenda: 9M 2024 Financial Results
To be the No. 1 private bank, unique by value of service, innovation and sustainability 9M 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: 9M 2024 Results: Executive Summary
9M 2024 RESULTS: EXECUTIVE SUMMARY Best 9M results in Banca Generali’s history • Net profit at €338.6m (+33% YoY) with record recurring component at €256.7m (+3% YoY) • Client assets at €101.0bn (+€12.2bn YoY) surpassing key milestone level • BG FML assets at €22.3bn (+15% YoY), new record-high driv
Slide 4: Net Profit: Relentless Growth Despite Seasonality
NET PROFIT RELENTLESS GROWTH DESPITE SEASONALITY Net Profit Solid 9M 2024 net profit €\m 255.1 338.6 80.1 122.0 117.6 99.1 at €339m (+33% YoY) 9M 2024 recurring net profit at €257m (+3% YoY) Recurring Net Profit1 +2.7% reflecting: - Sound revenue at both €\m 249.9 256.7 +3.0% net financial income an
Slide 5: Net Financial Income
NET FINANCIAL INCOME STEADY RESULT UNDERPINNED BY HIGHER VOLUMES Net Financial Income (NFI) €\m +2.9% +1.9% 247.9 9M 2024 NFI at €248m 241.0 10.5 (+3% YoY) driven by 12.9 higher NII (+4%) -1.8% +4.1% 79.7 82.7 228.1 237.3 83.9 81.2 3Q 2024 NFI at €81m 3.1 4.5 4.7 1.4 (+2% YoY) with NII 76.6 79.4 78.
Slide 6: Total Gross Fees
TOTAL GROSS FEES POSITIVE CONTRIBUTION ACROSS ALL FEE COMPONENTS Total Gross Fees 727.1 894.2 240.8 311.3 297.2 285.7 €\m 9M 2024 total gross fees at €894m +7.7% (+23% YoY) +8.2% 9M 2024 gross Gross Recurring Fees recurring fees at €772m 716.8 772.0 n.m. (+8% YoY) driven by higher client activity an
Slide 7: Gross Recurring Fees (1/4)
GROSS RECURRING FEES (1/4) LIFTED BY POSITIVE MOMENTUM FOR MANAGED PRODUCTS Investment Fees1 €\m +5.9% +7.0% Management Fees 634.8 672.6 +2.3% Advisory Fees 30.3 36.9 9M 2024 investment 224.1 229.3 fees at €673m (+6% 635.7 214.4 219.1 YoY) driven by business 604.5 10.6 12.4 12.7 11.8 expansion and 2
Slide 8: Gross Recurring Fees - Management Fees (2/4)
GROSS RECURRING FEES - MANAGEMENT FEES (2/4) HIGHER DEMAND FOR MANAGED PRODUCTS Management Fees €\m +5.2% +6.3% 604.5 635.7 9M 2024 +2.3% management fees at €636m (+5% YoY) 203.8 207.3 211.7 216.6 highlighting progress for the third quarter in a row driven by better 9M23 9M24 3Q23 1Q24 2Q24 3Q24 pro
Slide 9: Gross Recurring Fees - Advisory Fees (3/4)
GROSS RECURRING FEES - ADVISORY FEES (3/4) SOLID CONTRIBUTION FROM ADVISORY SERVICES Advisory Fees1 €\m +19.5% +21.7% 36.9 +2.0% 30.3 9M 2024 advisory fees 10.6 11.8 12.4 12.7 at €37m (+22% YoY) tracking growth assets under advisory 9M23 9M24 3Q23 1Q24 2Q24 3Q24 Avg. Assets under Advisory1 €\bn +17.
Slide 10: Gross Recurring Fees - Other Fees (4/4)
GROSS RECURRING FEES - OTHER FEES (4/4) ROBUST DELIVERY DESPITE SEASONALITY Other Fees €\m +21.3% +19.2% Other Banking Fees 99.4 9M 2023 entry fees at 82.0 €38m (+26% YoY) mostly Brokerage Commissions 19.6 -15.7% 19.2 37.7 33.5 28.2 linked to higher placement Entry Fees 41.9 23.7 32.8 6.5 of structu
Slide 11: Total Payout Ratio on Fees
TOTAL PAYOUT RATIO ON FEES NORMALIZATION IN PAYOUT RATIO Total Fee 379.1 418.7 123.6 138.5 142.3 137.8 Expenses €\m o/w Fee Expenses on NII1 8.7 10.3 3.3 3.6 3.4 3.3 9M 2024 fee expenses at €419m (+10% YoY) on better o/w Payout to FAs, 45.5% 46.7% 44.1% 46.3% 47.7% 46.0% product mix, push on ordinar
Slide 12: Operating Costs (1/2)
OPERATING COSTS (1/2) COST DISCIPLINE WITHOUT COMPROMISING GROWTH INITIATIVES Total Operating Costs €\m 9M 2024 operating costs +8.8% at €211m (+9% YoY) 210.5 +11.6% including €7.1m non core Non Core Items 193.5 7.1 items partly linked to: 3.5 Sales Personnel 17.9 - incentives for early 15.6 +8.2% C
Slide 13: Operating Costs (2/2)
OPERATING COSTS (2/2) COST RATIOS AT BEST PRACTICE LEVEL 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% 33.8% 37.4% 36.0%36.8% 34.9% 31.1% 29.1%
Slide 14: Summing Up
SUMMING UP Comments (€ m) 9M 23 9M 24 % Chg Strong operating profit (+30% YoY) thanks to ongoing asset expansion and increasing demand for managed products Net Financial Income 241.0 247.9 2.9% in a context of favorable financial markets. Net recurring fees 337.7 353.3 4.6% Cost discipline confirmed
Slide 15: Balance Sheet & Capital Ratios
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 sustai
Slide 16: Balance Sheet – Total Liabilities & Equity
BALANCE SHEET – TOTAL LIABILITIES & EQUITY RECOVERY IN DEPOSIT VOLUMES STARTED Total Liabilities & Equity: Volumes and Yields €\bn Total Deposits 15.6 15.5 15.5 14.7 Client Deposits 1 1.3 0.5 0.9 9M 2024 total deposits4 at 1.7 1.0 0.7 0.7 €13.4bn (+5% QoQ) 0.8 Other Deposits 2 confirming an ongoing
Slide 17: Balance Sheet – Total Assets
BALANCE SHEET – TOTAL ASSETS RESILIENT INVESTMENT YIELDS Total Assets & Interest Bearing Assets: Volumes and Yields €\bn 15.5 15.5 15.6 9M 2024 interest bearing 14.7 Interest Bearing Assets assets at €14.2bn (+6% vs. 1.0 1.1 1.0 1.5 1H 2024) tracking trend in Financial Assets 2.1 deposits 2.3 2.3 2.
Slide 18: Capital and Liquidity Ratios
CAPITAL AND LIQUIDITY RATIOS CAPITAL RATIOS AT RECORD LEVELS Total Capital Ratio % Leverage Ratio % CET1 AT1 to be reimbursed AT1 AT1 to be reimbursed 9M 2024 CET1 ratio at 26.5% 22.6% (+4.8ppts YTD) on 6.4% 2.6% retained earnings and RWA 1.3% 5.4% 0.3% optimization 19.0% 17.4% 16.7% 1.2% 4.6% 9M 20
Slide 19: Net Inflows, Assets and Recruiting
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 20: Total Assets (1/2)
TOTAL ASSETS (1/2) KEY ASSETS MILESTONE ACHIEVED Total Assets €\bn Total Assets (by Fee Category1) €\bn +14% 9M 2024 total assets at +9% 101.0 101.0 88.8 92.8 92.8 €101.0bn (+14% YoY) 11.1 88.8 driven by positive net 10.3 10.5 28.4 33.3 inflows (+7%) and asset 22.7 24.9 28.1 29.9 performance (+7%) +
Slide 21: Total Assets (2/2)
TOTAL ASSETS (2/2) STRONG MOMENTUM FOR IN-HOUSE PRODUCTS AUM Products €\bn o/w Managed Solutions - Wrappers €\bn +14% +10% +10% 23.3 9M 2024 managed 20.5 21.1 +7% 61.5 Insurance solutions increased by 55.8 57.4 Wrappers 11.2 €3.9bn YTD o/w 73% 14.5 10.3 10.6 driven by in-house 14.2 14.3 Financial pr
Slide 22: Net Inflows (1/2)
NET INFLOWS (1/2) HIGHER VOLUMES WITH GOOD PRODUCT MIX Total Net Inflows €\bn Total Net Inflows (by Fee Category1) €\bn +9% 4.7 4.3 4.7 4.3 9M 2024 total net inflows at €4.7bn (+9% YoY) with 0.5 2.7 better product mix 6.2 2.7 3.4 AUI at 43% of total inflows +129% (vs. 20% in 9M 2023) 1.5 2.0 -0.5 0.
Slide 23: Net Inflows (2/2)
NET INFLOWS (2/2) GROWING QUALITY FOCUSED ON IN-HOUSE PRODUCTS AUM Products €\bn o/w Managed Solutions - Wrappers €\bn Insurance 1.3 Wrappers 0.2 9M 2024 AUM products 1.5 at €1.5bn reflecting: Financial 0.5 - Sustained growth of -0.5 Wrappers 1.1 wrappers solutions 1.5 0.5 (+125% YoY) 0.8 9M23 9M24
Slide 24: Net Inflows by Acquisition Channel
NET INFLOWS BY ACQUISITION CHANNEL RECRUITMENT, A SOLID CONTRIBUTION TO GROWTH Net Inflows by Acquisition Channel €\bn Recruitment by Acquisition Channel # 9M 2024 net inflows 4.7 133 from net recruitment 4.3 growing to 26% of total 1.2 44 (vs. 16% in 9M 2023) 0.7 driven by ongoing 85 recovery in th
Slide 25: Net Inflows: October Update
NET INFLOWS: OCTOBER UPDATE RECOVERY OF AUM PRODUCTS GATHERS PACE Net Inflows Breakdown by Breakdown of Assets under Fee Category1 €\bn Investment €\bn 2.5 Jan-Oct. 2024 total net inflows 5.2 4.7 0.8 at €5.2bn (+11% YoY) 0.6 Strong contribution from net 2.7 inflows in October (€424m) 1.5 both in ter
Slide 26: Business Update and Closing Remarks
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 27: Voluntary Tender Offer on Intermonte
VOLUNTARY TENDER OFFER ON INTERMONTE TERMS, TIMELINE & KEY INTEGRATION BENEFITS - Voluntary Tender Offer in cash for 100% of the shares of Intermonte Partners SIM S.p.A. (“Intermonte”)1 Transaction - Offer price €3.04 p.s. (cum dividend), for a total consideration of €98.2m Overview - Operation aime
Slide 28: Integration Benefits (1/3): Brokerage & Market Making
COMPELLING INTEGRATION BENEFITS (1/3) BROKERAGE & MARKET MAKING Business Opportunities Leveraging on trading expertise and dedicated Research and Advisory Activity around Equities, ETFs, Derivatives Brokerage & Internalizing margins on Banca Generali’s negotiation flows (i.e. market-making on ETFs a
Slide 29: Integration Benefits (2/3): Structured Products
COMPELLING INTEGRATION BENEFITS (2/3) STRUCTURED PRODUCTS Business Opportunities Leveraging Intermonte’s derivative desk to internalize the derivative component of structured products Further push on enriching the offer with advice and brokerage of structured products Structured Products also on the
Slide 30: Integration Benefits (3/3): Investment Banking
COMPELLING INTEGRATION BENEFITS (3/3) INVESTMENT BANKING Business Opportunities Further differentiating Banca Generali’s proposition to attract senior FA profiles, expanding the proposition for entrepreneur-clients and approaching new client segments Capturing a client segment (entrepreneurs and SME
Slide 31: Deal Expected to Create Shareholder Value
DEAL EXPECTED TO CREATE SHAREHOLDER VALUE WITHOUT ANY MAJOR IMPACT ON BG BALANCE SHEET The acquisition of Intermonte (subject to its completion) aimed at : 1. Insourcing strategic skills in trading, derivatives and investment banking in order to further enhance Banca Generali’s value proposition 2.
Slide 32: Annex: Financial Back-up
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 33: Focus on BG Fund Management Luxembourg
FOCUS ON BG FUND MANAGEMENT LUXEMBOURG (BG FML) DEEP DIVE ON LUX ASSETS BG FML - Assets by SICAV €\bn BG FML – Total Assets €\bn +15% 20.4 22.3 19.4 +9% 22.3 Institutional Fund Classes 10.9 20.4 0.2 9.8 10.3 19.4 0.1 3.6 0.2 Retail Fund Retail fund classes 3.8 9.6 10.1 11.4 3.6 Classes at 51% of BG
Slide 34: Focus on AUC Assets
FOCUS ON AUC ASSETS LARGE EXPOSURE TO LIQUID AND IN PROFIT BONDS AUC Assets by Product Mix1 €\bn Key Features 28.2 24.7 12% €5.0bn bonds due to expire within 1 year 22.7 13% 15% 23% 80% of bonds carrying unrealized capital gains 23% 25% Only 5% of total AUC invested in structured products (certifica
Slide 35: 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 5% Financial assets are high quality and well Italy Govt Bonds diversified: Equity & Alternative 29% - 97% of the bond po
Slide 36: Focus on Financial Assets (2/3)
FOCUS ON FINANCIAL ASSETS (2/3) STABILIZATION IN INVESTMENT YIELDS Total NII Yield: Quarterly Trend Financial Assets Yield: Quarterly Trend 3.18% 2.31% 2.29% 3.14%3.15% 2.23% 2.99% 2.13% 2.14% 2.13% 2.80% 2.63% 1.82% 2.12% 1.42% 1.42% 0.89% 0.95% 0.75% 0.75% 0.60% 0.60% 0.56% 0.56% 0.48% 0.50% 3Q 4Q
Slide 37: 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 2.3 HTC HTCS 1.7 1.4 1.4 1.9 1.3 0.9 0.7 1.4 1.4 0.5 0.3 0.3 0.9 0.2 0.7 0.1 0.1 0.5 0.5 0.5 0.2 0.3 0.3
Slide 38: 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) 9M24 Credit Book €\bn Lending Quality % 0.9 Interest Bearing Assets 15.5 15.5 15.6 0.5 Financial Assets 1.0 1.1 1.5 2.3 2.3 2.1 Loans to Clients 1.6 99.1 Loans to Banks & Other A
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 2,338 2,260 <35 2,162 2,204 2,087 Age 35-50 2,040 ~55 1,985 1,936 >50 1,841 1,715 1,645 1,475 Male Gender Female 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 9M24 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 Banca Generali Assoreti 42.7 40.6 39.2 37.3 35.1 32.8 28.8 29.0 25.8 25.8 26.4 24.3 24.0 22.2 23.1 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 357k €99.9bn1 357 349 342 0.6% 332 10.2% 26.9% 312 27.9% 299 >5m 290 500k-5m 279 44.1% 100-500k 263 <100k 249 61.3% 243 228 22.6% 6.4% No.of Clients AUM (bn/€) Private Banking Assets2: €70.9bn Private B
Slide 42: Annex: Banca Generali at a Glance
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 2,338 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
45 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 2017 Nextam Partners 101.0 (AM boutique) Partnership w
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% 2.5% Private & HNW financial wealth2 1.1% 2.8% 4.5% 4.9% Financial Advisor networks3 10.8% 13.9% 15.7% 16.1% N
Slide 47: Banca Generali's Organization
47 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% 100% Asset Bank Trust Company Bank Management 100% 15.15% 49% Trust Company 47 NOTE: data as of 30 September 2024
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% 101 169.2 unicum in terms of Network positioning to enhance excellence, support and servi
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 2013 9M 2024 91.8 99.9 84.6 82.2 66.8 73.3 41.6 47.5 55.7 57.5 €83.7 €343.81 +109% 29.1 36.6 2013 2014 2015 2016 201
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), €/bn 63.7 2013 2023 58.3 55.3 44.2 49.1 25.1 29.2 35.5 36.3 €101.6 €251.4 +110% 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 Private Banking Network ESG Best Financial Advisor Top Sustainable Bank Best Private Bank network by Customer in Italy (2023) in Italy (2024) Satisfaction (2025) Financial Times
Slide 54: 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: 101.0 €/bn 3% 4% 2% 10% 11% 19% 12% AUI: 67.7 €/bn, 23% 67% of total 26% 16% 12% 6% 11% 12% 15% 19% In-house funds Insurance wrappers AUC Eq
Slide 55: Wealth Management Approach
2 WEALTH MANAGEMENT APPROACH SUPPORTED BY A WIDE RANGE OF PREMIER PARTNERSHIPS Partnerships with Leading Services’ Providers Corporate Advisory Real-estate Advisory Advanced Advisory Model Art Advisory Family Protection & Planning PARTNER LAW FIRMS An Advanced Advisory model to address financial and
Slide 56: Training
3 TRAINING SUPPORTS 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 56
Slide 57: Banca Generali's 2022-24 Strategic Plan
57 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 58: Annex: Key Projects
To be the No.1 private bank, unique by value of service, innovation and sustainability 9M 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 59: Most Relevant Strategic Projects
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 59
Slide 60: Data-Driven Bank (1/3)
DATA DRIVEN DATA-DRIVEN BANK (1/3) 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 61: Scoring of Potential (2/3)
SCORING OF POTENTIAL (2/3) DATA DRIVEN 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 62: 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 63: Expansion in Switzerland (1/3)
63 EXPANSION IN SWITZERLAND (1/3) INTERNATIONAL 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 64: BG Suisse Private Bank (2/3)
INTERNATIONAL BG SUISSE PRIVATE BANK (2/3) 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 65: 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 €\m ~€1bn per year from BG Suisse once up and running New 20-30 private bankers New Recruits of in BG Suis
Slide 66: 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 €20.3bn assets invested in ESG produ
Slide 67: Sustainability (2/3)
SUSTAINABILITY (2/3) SUSTAINABILITY SUSTAINABLE VALUE PROPOSITION ESG Assets €\bn BGPP: our ESG Platform Strong increase in ESG assets1 to €20.3bn, reaching BG Personal Portfolio (BGPP) is our ESG dedicated platform 43.1% of managed solutions (+5.5 ppts YTD) allowing for a unique investment choice a
Slide 68: Sustainability (3/3)
SUSTAINABILITY (3/3) SUSTAINABILITY ESG RATINGS: TRENDS & MAIN IMPROVEMENTS Key ratings Main take-aways • In 2023, Banca Generali received a rating of A (on a scale of AAA- MSCI Scores CCC) in the MSCI ESG Ratings assessment On a scale from CCC to AAA • In 2024, Banca Generali SpA received an ESG Ri
Slide 69: 9M 2024 ESG Achievements (1/2)
9M 2024 ESG ACHIEVEMENTS (1/2) SUSTAINABILITY ON THE WAY TO ACHIEVE OUR ESG STRATEGIC AMBITIONS Ongoing enlargement Deployment of ‘BG ‘Inclusive Leadership New FA strategic in perimeter of art.8/9 Sustainable Advisor’ Program’ managerial function Clients & FAs managed solutions project, a new FA inv
Slide 70: 9M 2024 ESG Achievements (2/2)
SUSTAINABILITY 9M 2024 ESG ACHIEVEMENTS (2/2) ON THE WAY TO ACHIEVE OUR ESG STRATEGIC AMBITIONS Continuation of ‘Digital Minds Long-Term Incentive Plan Initiatives focused on gender programme 2022/2024’ launched in 2024 for 2024-2026 and young generations Employees involving all employees period lin
Slide 71: Disclaimer (1/2)
DISCLAIMER (1/2) 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
Slide 72: Disclaimer (2/2)
DISCLAIMER (2/2) The offer mentioned in this document relating to Intermonte Partners SIM S.p.A. (the “Offer”) will be launched by Banca Generali S.p.A. exclusively in Italy. The Offer is not, and will not be, promoted or disseminated in any way in the United States of America, Australia, Canada and