Banca Generali Spa (BGNMF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. This is the Coruscant Conference Operator. Welcome and thank you for joining the Banca Generale Preliminary Full Year 2024 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 welcome to our full year result conference call. Last year closed very strongly with very new record highs in terms of net profits and client assets, and number of financial advisors. And the commercial activity was very sound, with December probably the best ever month for the bank. With last year, we conclude also our three-year business plan that, as you can see at page four, over-delivered on the three major goals, consistent growth, profitable growth, and the remunerative growth. Overall, Total inflows exceeded €18 billion despite some delay in our SWIFT business and some difficulties in the recruitment after the correction of the market in 2022. But thanks to outstanding results of the existing Salesforce, we delivered on our promise. Profitable growth is very strong. As you know, here are two main components, net interest income and the recurring business, driven by asset expansion and stable margin. And then we can announce that we will offer 8.5 euro per share in 2022-2025 cash view in terms of dividend. This implies a dividend payout for last year at 2.8. But we will see later how we will pay the 2.8 euros. Page 5, you can see the trends of overall net profits and recurring net pro...