July 24, 2014 7:20 PM ET

Capital Markets

Company Overview of Banca Generali S.p.A.

Company Overview

Banca Generali S.p.A. manages, produces, and distributes financial products for affluent and private customers through financial advisors and private bankers in Italy. It operates through Affluent Channel, Private Channel, and Corporate Channel segments. The company offers asset management products, including fund-based schemes, asset-management schemes, and protected-capital asset management schemes; mutual funds, sicavs, and discretionary accounts; insurance products, such as life insurance; pension products; banking products, such as current accounts, time deposits, savings accounts, and mortgage loans; and financial advisory services, as well as provides products for handling cash positi...

Via Ugo Bassi, 6

Milan, TS 20159

Italy

Founded in 1998

834 Employees

Phone:

39 0260 76 54 11

Key Executives for Banca Generali S.p.A.

Chief Executive Officer
Age: 57
Total Annual Compensation: $1.7M
Chief Financial Officer and General Manager
Age: 57
Total Annual Compensation: $26.2K
Compensation as of Fiscal Year 2013.

Banca Generali S.p.A. Key Developments

Banca Generali S.p.A. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Banca Generali S.p.A. reported consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported consolidated net profit amounted to EUR 38.9 million, up 10% compared to EUR 35.5 million for the same period of the previous year. Net interest income amounted to EUR 28.7 million, compared to EUR 33.5 million in the same period of the previous year. The decrease was largely due to the EUR 200 million LTRO loan re-payments to BCE. Operating profit was EUR 66.8 million against EUR 58.1 million a year ago. Profit before taxation was EUR 55.5 million against EUR 46.0 million a year ago. EBITDA was EUR 67.9 million against EUR 59.3 million a year ago. On adjusted basis the company’s net interest income was EUR 28.7 million against EUR 33.5 million a year ago. Operating profit was EUR 65.3 million against EUR 57.1 million a year ago. Profit before taxation was EUR 54.0 million against EUR 44.9 million a year ago. Net profit was EUR 38.9 million against EUR 35.5 million a year ago. EBITDA was 66.3 million against EUR 58.2 million a year ago.

Banca Generali S.p.A., Q1 2014 Earnings Call, May 08, 2014

Banca Generali S.p.A., Q1 2014 Earnings Call, May 08, 2014

Banca Generali Approves Amendments to Articles of Association; Reports Parent Company Earnings Results for the Year 2013

Banca Generali held its AGM on April 23, 2014. At the meeting the shareholders approved the amendments to Articles 13 and 18 of the Articles of Association in order to bring them into line with (i) the provisions introduced by the Bank of Italy with the Order dated December 12, 2011 concerning risk assets and conflicts of interest for banks and banking groups in relation to Connected Parties (ii) the amendments to Article 136 of Legislative Decree 385/93, and (iii) the provisions of CRD IV (Directive 2013/36/EU), in particular by introducing the power for the Shareholders' Meeting to depart from the 1:1 ratio of the variable to the fixed components of remuneration, upon justified motion by the Board of Directors. The said amendment will become effective upon endorsement of CRD IV into Italian law. The company reported consolidated and company earnings results for the year 2013. For the period, the parent company reported net profit of EUR 94.9 million.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 10, 2014
Credit Suisse (Italy) S.p.A., Private Banking Operations
 

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