Banca Generali Hikes 2026 Interest Income Target, Expects Rate Increase
May 6 (Reuters) - Italian asset manager Banca Generali hiked its net interest income guidance for 2026 on Wednesday, saying it now expected interest rates to be raised during the year.
Banca Generali forecast annual net interest income in a range of 335 million to 345 million euros ($394 million to $406 million), up from the 330-340 million euro range it had provided in February.
The private bank, a key pillar of Italy's top insurer Generali's wealth management strategy, also reported a first-quarter net profit of 126.4 million euros, up 15% from a year ago, beating analysts' average estimate of 109 million euros in a company-compiled poll.
• "Volatility-controlled and capital protected solutions are gaining significant momentum, and we expect this trend to strengthen further in the coming weeks" - CEO Gian Maria Mossa
• Clients are getting more cautious, oriented towards liquidity and short-term securities, he added
• Q1 core profit up 12.2% at 200.9 million euros
• Net inflows for 2026 were 2.8 billion euros at the end of April, up 32% year-on-year
• April net inflows grew 42% to 0.9 billion euros
• The bank has made a binding offer to buy 75% in Investlinx, an Irish independent platform specialising in active ETFs, which manages around 240 million euros in assets
• Italy's Agnelli family's investment vehicle Exor is a minority shareholder in Investlinx
($1 = 0.8498 euros)
(Reporting by Philippe Leroy Beaulieu in Gdansk, editing by Milla Nissi-Prussak)
