Banca Generali : 12/01/2015 - PR: Total Inflows in 2014

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Media Relations

Michele Seghizzi

Tel. +39 02 6076 5683

Michele.seghizzi@bancagenerali.it

Investor Relations

Giuliana Pagliari

Tel: +39 02 6076 5548

giuliana.pagliari@bancagenerali.it

Total net inflows for 2014 at €4.02 billion,

+78% YOY (€333 million in December)

Net inflows in managed products for 2014 at €4.2 billion, +51% YOY (€553 million in December)

Net new money totalled €6.0 billion for

2014, including the CSI1acquisition

Milan, 12 January 2015 - Total net inflows in December amounted to €333 million, of which €206 million gathered by the Banca Generali network (€2,977 million for the 12 months) and €127 million gathered by Banca Generali Private Banking (€1,047 million for the 12 months).

150% compared to the past two years. The figure is even more significant as it was entirely achieved through the advisory services provided by Banca Generali's financial advisors to Italian retail investors only. Including the Credit Suisse private banking operations acquired at the end of October, net new money for 2014 totalled €6 billion, up 20% compared to year-end 2013. The acceleration of net inflows of managed products was even stronger, as the €553 million reported in December were the highest monthly figure ever achieved by the bank.

Banca Generali's focus on quality and innovation has led to the success of the multi-line policy BG STILE LIBERO, which combines insurance segregated accounts and the flexibility to invest in multi-manager funds of top international asset managers. In just ten months since its launch, BG STILE LIBERO gathered €2.2 billion net inflows (€339 million in December) .

A good performance was also shown by LOB I insurance products, which combine capital protection and competitive returns. Net inflows in December were €228 million (€1,378 million for the 12 months).

The CEO of Banca Generali, Piermario Motta, commented: "This highly satisfactory result stemmed from our commitment and determination to provide excellence to our clients. Quantitative indicators, such as net inflows and average productivity for 2014, and qualitative indicators, such as household demand and our ability to attract talents, make us a reference point in financial advisory. The exponential growth achieved over the past few years was spurred by innovation and competence development, and it will be supported in 2015 by new, promising solutions and tools. We thus look enthusiastically towards the prospects for the coming months, thanks to our investments and in view of the volatile and very low-return market, which is heightening the need and responsibility of protecting Italian household investments.

1

Acquisition of the Italian affluent and upper affluent private banking operations of Credit Suisse Italy finalized on 31 October

2014.

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Million of Euros Dec 2014 Nov 2014 Abs. Chg

Mutual Funds 2 7 -5

Managed Portfolio -16 -27 11

Mutual Funds and Managed Portfolio -14 -20 6

Life Insurance 567 492 75

of which BG STILE LIBERO 339 387 -48

Managed Assets 553 472 81

Non Managed Assets -220 -109 -111

of which: Securities -91 -192 101

Total 333 363 -30

Jan-Dec 2014 Jan-Dec 2013 Abs. Chg

Mutual Funds 555 1,489 -934

Managed Portfolio 71 13 58

Mutual Funds and Managed Portfolio 626 1,502 -876

Life Insurance 3,563 1,266 2,297

of which BG STILE LIBERO 2,185 0 2,185

Managed Assets 4,189 2,768 1,421

Non Managed Assets -165 -508 343

of which: Securities -633 -482 -151

Total 4,024 2,260 1,764

Life New Business

Dec 2014 Nov 2014 Abs. Chg

Life New Business 656 585 71

Jan-Dec 2014 Jan-Dec 2013 Abs. Chg
Life New Business 4,145 2,129 2,016

***

The Manager responsible for preparing Banca Generali's financial reports (Stefano Grassi) declares, pursuant to Paragraph 2 of Art. 154-bis of the Italian Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.

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