Q1 2022 Banca Generali SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Banca Generali First Quarter 2022 Financial Results Conference Call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Gian Maria Mossa, CEO and General Manager of Banca Generali. Please go ahead, sir.
A very strong and very positive of the recurring net profit, up by 43% year-on-year and closing at EUR 53.2 million. As I said, this is the result of the competition of all the repricing initiatives in the banking, insurance and asset management space, and this has compensated the negative effect of the market.
In terms of variable net profit, instead you see a lower contribution compared on a year-on-year basis at EUR 15.1 million, basically driven by lower performance fee.
Page 6. Let's start from net financial income. On this side, only positive news. The quarter stayed at EUR 22.5 million of net interest income. This is the
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