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Banca Generali Q2 net up 37 pct as assets and fees rise
July 29, 2014 / 11:23 AM / 3 years ago

Banca Generali Q2 net up 37 pct as assets and fees rise

MILAN, July 29 (Reuters) - Italian asset manager Banca Generali a 37 percent increase in second-quarter net profit to 49.6 million euros ($66.6 million) boosted by rising assets under management and higher fees.

Total net inflows in the first half rose 64 percent to 2.3 billion euros, growing more than they had done in the whole of 2013 and bringing assets under management to 32.3 billion euros, the company said in a statement.

In a slide presentation, Banca Generali raised its forecast for net inflows this year to 3 billion euros from 2 billion euros.

$1 = 0.7443 Euros Reporting by Valentina Za and Maria Pia Quaglia

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