Investing.com -- Italian asset manager Banca Generali increased its net interest income guidance for 2026 on Wednesday, citing expectations for interest rate increases during the year.
The private bank now forecasts annual net interest income between 335 million euros and 345 million euros ($394 million to $406 million), up from the 330 million to 340 million euro range it provided in February.
Banca Generali, a central component of Italy’s largest insurer Generali’s (MI:GASI) wealth management strategy, reported first-quarter net profit of 126.4 million euros, a 15% increase from the same period last year. The result exceeded the average analyst estimate of 109 million euros in a company-compiled poll.
Chief Executive Gian Maria Mossa said clients are becoming more cautious, favoring liquidity and short-term securities. "Volatility-controlled and capital protected solutions are gaining significant momentum, and we expect this trend to strengthen further in the coming weeks," Mossa said.
The bank’s core profit for the first quarter rose 12.2% to 200.9 million euros.
Net inflows for 2026 reached 2.8 billion euros at the end of April, up 32% year-on-year. April net inflows grew 42% to 0.9 billion euros.
Banca Generali has submitted a binding offer to acquire 75% of Investlinx, an Irish independent platform specializing in active exchange-traded funds that manages approximately 240 million euros in assets. Italy’s Agnelli family investment vehicle Exor (AS:EXOR) holds a minority stake in Investlinx.
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