Banca Generali Spa (BGNMF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, this is the Coruscall Conference Operator. Welcome and thank you for joining the Banca Generali 9 Months 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 third quarter result conference call. Let's start by saying that despite the challenges of the last quarter linked to the tender offer of Mediobanca, we achieved very strong financial results. with strong support from recurring commission. Also, the commercial activity was very solid, thanks to the ongoing contribution of the existing sales force. Today, we're going to focus on two major projects, Alleanza and Intermonte, and we'll spend a few minutes also on the main project on the core business. But let's start, as usual, from numbers. So moving on to page four, net profit. We closed the third quarter with net profit at almost 115 million euro, great part of which driven by recurring net profit. And also the variable component is catching up and more good news for the fourth quarter only. Net profit well supported by all the components. Page 5, we can start with the net financial income. As you can see, the overall net interest income closed almost flat quarter on quarter. This is the result of expanding assets. and just a slight reduction of the net interest margin. In particular, the net interest margin closed at 200 to this point, and the overall contribution for the qua...