COLOGNE (dpa-AFX) - Banca Generali reported that its net profit for fiscal year 2019 rose 51.1 percent to 272.1 million euros from last year's 180.1 million euros, reflecting strong asset growth, good investment performance and healthy recurring profits.
Net interest income grew 23.4 percent to 74.0 million euros from 60.0 million euros last year, due to a sharp growth in banking assets and more efficient treasury management.
Net fees rose 34.1 percent to 489.8 million euros from the prior year's 365.3 million euros, driven by the improvement in product mix, the acceleration in new revenue streams and a strong investment performance.
Total banking income grew 28.6 percent to 578.0 million euros from 449.4 million euros in the previous year.
The company said that revenue diversification is ahead of plan. The Internationalisation process is taking shape with the launch of BG International Advisory and the completion of the acquisition of Valeur.
Copyright RTT News/dpa-AFX