Banca Generali Spa (BGNMF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. This is the Corsco conference operator. Welcome and thank you for joining the Banca Generali first half 2025 results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Gianmaria Mossa, CEO and General Manager of Banca Generali. Please, go ahead, sir. Good afternoon, and thank you for attending our first Alpha Results Conference Call. The overall results were pretty solid, driven by recurring business. with recurring net profit at 176.3 million, reaching its best level ever. And this was driven also by asset expansion, with client assets at a new record high at 106.5 billion euros. The first start was also very important for us because we set up the initial banking business thanks to the partnership with Generali, and we will deep dive in the last section of the presentation. But let's start as usual by numbers. Net profit, page four. The second quarter closed at almost 90 million euros, basically driven by recurring net profit. The overall result of the first half, as already mentioned, closed at 176. and the contribution of variable net profit closed at 23.9 with negligible contribution in the second half. The net profit and the recurring component were very well supported by the net financial income, page five, number very strong, basically driven by net interest income and also trading gains. The net interest income closed at 82.4, thanks to asset aspersion. And then the trading gains and others close at 6.6 million, including also inter-month. If we focus on the to...