Banca Generali S.p.a. · MIL:BGN
Banca Generali — 1H 2023 Earnings Presentation
67 slides from Banca Generali's earnings presentation, Jul 27, 2023
Slide 1: Investor Presentation 1H23 Results
Investor Presentation 1H23 RESULTS
Slide 2: 1H 2023 Financial Results agenda
To be the No. 1 private bank, unique by value of service, innovation and sustainability 1H 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: 1H 2023 Results: Executive Summary
1H 2023 RESULTS: EXECUTIVE SUMMARY 1H 2023 results delivered record achievements for key business targets: • Record high level for client assets: €88.2bn (+9% YoY) • Record productivity for existing network: €2.9bn (+16% YoY) • Best interim results ever for recurring net profit: €166.1m (+54% YoY) E
Slide 4: Net Profit: Record Growth Driven by Recurring Component
NET PROFIT RECORD GROWTH DRIVEN BY RECURRING COMPONENT Net Profit 131.3 175.1 68.3 63.0 83.1 92.0 €\m High quality 1H 2023 net profit growth at €175.1 million (+33% YoY) Recurring Net Profit1 +54% +63% €\m 166.1 Strong 1H 2023 recurring +16% component at €166.1m (+54% YoY) thanks to a 107.9 buoyant
Slide 5: Net Financial Income: NII Pushed to New Highs
NET FINANCIAL INCOME NII PUSHED TO NEW HIGHS ON ONGOING ASSET REPRICING Net Financial Income (NFI) €\m 1H 2023 NFI up to €161.3m +114% 161.3 (+139% YoY) fully exploiting +139% tailwinds from higher interest 9.8 +15% rates 86.4 74.9 1H 2023 NII (+192% YoY) 67.5 5.9 151.5 4.0 for the sharp increase in
Slide 6: Total Gross Fees: Recurring Fees Boosted by Diversified Revenue Streams
TOTAL GROSS FEES RECURRING FEES BOOSTED BY DIVERSIFIED REVENUE STREAMS Total Gross Fees 494.2 486.3 258.3 235.9 243.1 243.2 €\m n.m. +3% 1H 2023 gross recurring fees stable YoY and growing at quarterly level +1% Gross recurring fees (+3% YoY, +1% QoQ) 478.6 478.7 thanks to better product 244.6 238.1
Slide 7: Management Fees: Turning Point Linked to Better Product Mix
MANAGEMENT FEES TURNING POINT LINKED TO BETTER PRODUCT MIX Management Fees €\m Management Fees -3% -1% 1H 2023 management €\m 413.3 400.7 fees (-3% YoY) changed in line with trend in interim +1% volumes (-3.5% YoY) 209.9 203.4 199.8 200.9 Positive inflection in 2Q 1H22 1H23 1Q22 2Q22 1Q23 2Q23 2023
Slide 8: Gross Banking and Entry Fees: Best Ever Result
GROSS BANKING AND ENTRY FEES BEST EVER RESULT BY EXTRACTING VALUE FROM SERVICE DIVERSIFICATION Gross Banking and Entry Fees €\m 1H 2023 entry fees (+41% +19% +30% YoY) benefitted from record 78.0 volumes (€1.5bn, +155% YoY) 65.3 mostly on higher placements 22.9 (€924m, +529% YoY) +4% 16.3 1H 2023 br
Slide 9: Total Payout Ratio on Fees
TOTAL PAYOUT RATIO ON FEES PAYOUT ON FEES BROADLY STABLE EXCLUDING ONE-OFFS Total Fee Expenses 247.2 255.5 124.6 122.6 124.9 130.6 €\m 1H 2023 fee expenses at €255.5m (+3% YoY), of which: o/w Fee Expenses on NII1 5.5 2.5 3.0 • €250.0m (+1% YoY) paid on recurring fees and cost of growth 45.8% 46.2% 4
Slide 10: Operating Costs (1/2)
OPERATING COSTS (1/2) COST BASE CONTINUES TO SHOW MODERATION AMID PUSH FOR GROWTH Total Operating Costs €\m +6.1% 127.3 1H 2023 total 120.0 +6% operating costs up by Non core items 1.5 2.2 6.1% YoY including 10.6 Sales personnel 10.4 -0.1% €2.2m of non core items 60.0 60.0 63.7 63.6 (+5.6% adjusted)
Slide 11: Operating Costs (2/2): Cost Ratios Further Improved
OPERATING COSTS (2/2) COST RATIOS FURTHER IMPROVED 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% 32.5% 36.0%36.8% 32.5% 31.1% 2013 20
Slide 12: Summing Up
SUMMING UP Comments (€ m) 1H 22 1H 23 % Chg Robust growth in operating results excl. performance fees (+44% YoY) driven by buoyant NII, Net Financial Income 67.5 161.3 n.m. diversified revenue streams and Net recurring fees 231.4 223.3 -3.5% operating leverage Variable fees 15.6 7.6 -51.1% Total Ban
Slide 13: Balance Sheet & Capital Ratios agenda
To be the No.1 private bank, unique by value of service, innovation and sustainability 1H 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 STRONG INCREASE IN RETURNS FROM INTEREST BEARING ASSETS Total Assets and Interest Bearing Assets (IBA): Volumes and Yields €\bn High quality interest 17.7 bearing assets represented 17.3 1.2 1H22 4Q22 1H23 by diversified and liquid 1.5 15.7 financial assets and highly 2.
Slide 15: Balance Sheet – Total Liabilities & Equity
BALANCE SHEET – TOTAL LIABILITIES & EQUITY COST OF FUNDING WELL UNDER CONTROL Total Liabilities & Equity: Volumes and Yields €\bn 17.7 Total deposits at €13.8bn 17.3 mostly represented by client 1.2 1.9 15.7 deposits (80% of total). 0.8 1H22 4Q22 1H23 0.9 1.7 Trend in volumes reflects cash 1.0 sorti
Slide 16: Capital and Liquidity Ratios Further Strengthened
CAPITAL AND LIQUIDITY RATIOS CAPITAL AND LIQUIDITY RATIOS FURTHER STRENGTHENED Total Capital Ratio % Leverage Ratio % CET1 AT1 Capital ratios increased 18.4% 18.5% 5.1% 5.0% 17.4% 16.7% 4.6% 4.3% strongly reflecting sound 1.3% 1.1% 1.2% 1H 2023 earnings and 1.1% lower capital absorption in line with
Slide 17: Net Inflows, Assets and Recruiting agenda
To be the No.1 private bank, unique by value of service, innovation and sustainability 1H 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 18: Total Assets: Positive Commercial Results and Asset Performance
TOTAL ASSETS POSITIVE COMMERCIAL RESULTS AND ASSET PERFORMANCE Total Assets €\bn Fee generating assets1 €\bn +9% +4% Robust increase in total assets driven by net new +6% 88.2 +3% 60.9 83.1 58.4 58.9 money and positive asset 80.9 10.4 2.7 3.4 4.4 performance (+1.7% YoY, 12.6 12.1 14.5 +2.3% YTD) 21.
Slide 19: AUM Breakdown
AUM BREAKDOWN FINANCIAL WRAPPERS AND IN-HOUSE FUNDS, MOST IN DEMAND AM Products €\bn Insurance Products €\bn +7% AM products driven -5% by the steady +5% 31.5 increase in financial 29.5 30.0 -2% wrappers (+13% YoY, Financial Traditional life 26.2 +7% YTD) and a pick- 25.5 25.0 wrappers 8.9 9.4 10.1
Slide 20: Net Inflows: Positive Trend in Volumes, Defensive Product Mix
NET INFLOWS POSITIVE TREND IN VOLUMES, DEFENSIVE PRODUCT MIX Total Net Inflows €\bn Net inflows in fee generating assets1 €\bn 3.3 2.6 1H 2023 trend in volumes highlighted 3.8 0.1 sound business 0.7 momentum (7.4%2 of 1.1 3.0 1.2 1.6 0.4 starting assets) with a 5.0 0.1 0.7 0.9 0.9 large organic comp
Slide 21: Net Inflows by Acquisition Channel
NET INFLOWS BY ACQUISITION CHANNEL CONTRIBUTION FROM ORGANIC GROWTH AT RECORD HIGH LEVEL Net Inflows by Acquisition Channel €\bn Recruitment by Acquisition Channel # High contribution from 3.8 existing network (organic growth) at 3.3 1.0 €2.9bn in absolute value 3.0 0.4 92 92 or 87% of total net inf
Slide 22: Business Update and Closing Remarks agenda
To be the No.1 private bank, unique by value of service, innovation and sustainability 1H 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 23: Mid-Plan Assessment
MID-PLAN ASSESSMENT WELL ON TRACK OR ABOVE TARGETS Mid-term targets Objectives 2022-24 Targets Comments Implied mid-term Actual Existing Recruiting results network 13–16 €\bn 6.5 - 8.0 €\bn 7.4 €\bn below targets due to: Consistent growth Recruiting & • 2022 financial Cumulated net 5–6 €\bn 2.5 - 3.
Slide 24: Consistent Growth – Focus on Productivity
CONSISTENT GROWTH – FOCUS ON PRODUCTIVITY Consistent growth PRESENT RESULTS AND NEW INITIATIVES TO SUPPORT GROWTH Enjoying high FA productivity while driving continued superior delivery Net inflows from existing FA network FOCUS ON JUNIOR &TEAM clustered by age group (€\bn) 1 Team approach: 158 team
Slide 25: Profitable Growth: Improved Guidance for 2023 NII
PROFITABLE GROWTH Profitable growth IMPROVED GUIDANCE FOR 2023 NET INTEREST INCOME (NII) From To 2023 Net Interest Income Ta r g e t expected at 250-260€\m based on following assumptions: • Market rates: 6M Euribor at 3.9% 180-190 • Remuneration on client 2023 230 250-260 €\m deposits: 130 bps €\m €
Slide 26: Profitable Growth: AUC Assets Spike in Volumes
PROFITABLE GROWTH Profitable growth AUC ASSETS - SPIKE IN VOLUMES REFLECTING TACTICAL APPROACH Intense Activity on AUC for Tactical Reasons, supported by Dedicated Services PRIMARY MARKETS + CERTIFICATES €\bn AUC ASSETS €\bn 1.5 ~20% 0.8 0.6 0.6 Advisory on AUC of AUC 0.3 21.4 1H19 1H20 1H21 1H22 1H
Slide 27: Fee-Generating Assets (1/2) – Investment Services
PROFITABLE GROWTH Profitable growth FEE-GENERATING ASSETS (1/2) - FOCUS ON INVESTMENT SERVICES High Quality Growth driven by Bespoke Services and Advisory INVESTMENT SERVICES1 – INVESTMENT SERVICES – TREND IN VOLUMES (€\bn) TREND IN MARGINS 18.2 1H19 1H20 1H21 1H22 1H23 15.2 15.3 Gross Investment 12
Slide 28: Fee Generating Assets (2/2) – Funds and Insurance
PROFITABLE GROWTH Profitable growth FEE GENERATING ASSETS (2/2) – FOCUS ON FUNDS AND INSURANCE Funds/Sicavs and Insurance – Quarterly Net Inflows Trend 228 181 115 122 104 In-house funds 74 Net Inflows in 22 14 27 Funds (€\m) Third party funds -133 128 99 42 Net Inflows in Traditional life insurance
Slide 29: Annex agenda
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 1H 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 30: Recurring Net Profit: Operating Items Driving Increase
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 +85.2 -27.0 €166.1m (+54% YoY) Operating component (8.1) (+€85.2m YoY) leveraging (6.7) 0.5 primarily on the NII component (27.5) 166
Slide 31: 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 19.6 BG FML Sicavs are 18.6 18.6 19.6 Institutional distributed both as 18.6 18.6 retail funds and fund classes 9.5 9.5 10.0 0.2 building blocks 0.3 0.2 3.6 Retail fund for wrapper 3.7 3.4 classes
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): Investment Yields on the Rise
FOCUS ON FINANCIAL ASSETS (2/3) INVESTMENT YIELDS ON THE RISE Total NII Yield: Quarterly Trend Financial Assets Yield: Quarterly Trend 2.63% 2.11% 1.82% 2.12% 1.42% 1.42% 0.86% 0.89% 0.95% 0.75% 0.87% 0.78% 0.77% 0.75% 0.79% 0.75% 0.71% 0.66% 0.66% 0.60% 0.60% 0.63% 0.56% 0.56% 0.48% 0.50% 2Q 3Q 4Q
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 2.2 HTC HTCS 1.9 1.3 1.1 1.5 0.9 2.2 0.8 0.8 0.7 0.5 0.6 1.1 0.3 1.0 0.8 0.8 0.2 0.1 0.5 0.5 0.6 0.4
Slide 35: Retention Rate
RETENTION RATE BEST-IN-CLASS RETENTION RATE Retention of Headline FAs Retention of Core FAs 99.4% 98.8% 99.4% 99.9% 99.2% 99.4% 99.6% 97.4% 98.7%98.7% 98.6%98.6% 99.0% 98.7% 96.2% 97.3% 97.1% 96.2% 96.5% 96.1% 95.8% 95.8% 2014 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 1H23 2014 2015 2016 2017 201
Slide 36: Annex: Banca Generali's highlights agenda
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 1H 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 37: Banca Generali at a Glance
37 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, €88.2 €323.1 €213.0 AUM Net Profit TCR 16.7% Innovation and Sustainability bn1 bnm Mission Trusted professionals constantly by t
Slide 38: Banca Generali's Key Milestones
38 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 88.2 2017 and BG Valuer 83.1 Partnership with (Swiss trus
Slide 39: 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 1H23 total assets 85.7 83.1 88.2 reached the new all- 74.5 time high at €88.2bn 69.0 thanks to positive commercia
Slide 40: 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 41: Financial Advisory Network: Steadily Increasing Since 2014
FINANCIAL ADVISORY NETWORK STEADILY INCREASING SINCE 2014 Breakdown by No. of FAs # cluster of FAs1 2,162 2,204 2,206 2,238 2,238 €87.32 2,040 2,087 1,936 1,985 1,841 17% 1,715 1,645 37% 66% 54% 2014 2015 2016 2017 2018 2019 2020 2021 2022 1H22 1H23 14% 4% 3% 5% Headline FA retention at 98.8% - Core
Slide 42: Financial Advisory Network: Increasing Lead Over Time
FINANCIAL ADVISORY NETWORK 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 14.0 28.8 29.0 13.3 12.0 25.8 11.6 24.3 22.2 10.9 10.6 25.8 25.0 24.0 9.9 23.1 9.7 21.2 8.6 17.9 18.4 15.9 14.6 13.6 2
Slide 43: 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 44: 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 45: 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 46: Clients Segmentation
CLIENTS SEGMENTATION GROWING CLIENT BASE WITH A FOCUS ON WEALTH ADVISORY NEEDS Total No. of Clients ‘000 Breakdown by Cluster of Clients 346k €87.3bn1 346 0.5% 342 338 332 9.1% 25.0% 312 27.1% 299 >5m 290 500k-5m 279 43.3% 100-500k 263 249 <100k 245 63.3% 24.3% 7.4% No.of Clients AUM (bn/€) Private
Slide 47: 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 88.2 €/bn Combining in-house offer and open architecture model Financial wrappers maximizing advisors’ freedom to custom
Slide 48: 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 49: Sustainable Value Proposition
SUSTAINABLE VALUE PROPOSITION STEADY GROWTH IN ESG ASSETS ESG AUM Our ESG offering New and larger scope from end 38 sub-funds art. 8 and art.9 with strong 32.2% 33.7% 2022, following the introduction of the 1 integration of ESG factors and/or specific MIFID-ESG regulation and thematic features 14.1
Slide 50: ESG Ratings
ESG RATINGS TRENDS & MAIN IMPROVEMENTS Key ratings Main take-aways A • Rating revised upwards from BBB to A in 2022 BBB BBB • Rating steadily improved over the past 5 years BB BB MSCI Scores B • Areas of governance, education and focus on On a scale from CCC to AAA sustainability seen at excellent l
Slide 51: Annex: Investor Day messages agenda
To be the No.1 private bank, unique by value of service, innovation and sustainability To be the No. 1 1H 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 52: 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 53: 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 54: 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 55: 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 56: 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 57: 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 58: 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 59: 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 60: 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 61: 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 62: 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 63: 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 64: 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 65: 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 66: 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 67: 2023 Upcoming Events and Investor Relations Contacts
2023 UPCOMING EVENTS NOVEMBER Investor Relations Contacts Su Mo Tu We Th Fr Sa 9M 2023 Results Giuliana Pagliari 1 2 3 4 Investor Relations Manager Conference Call Phone +39 02 408 26548 5 6 7 8 9 10 11 Mobile +39 331 65 30 620 12 13 14 15 16 17 18 E-mail: giuliana.pagliari@bancagenerali.it 19 20 21