Banca Generali posts Q1 profit jump as assets hit record high

May 9(Reuters) – Italian asset manager Banca Generali posted a 46.8% jump in first-quarter net profit on Thursday helped by record high assets under management.

The bank, which mainly offers personal finance services, reported a net profit of 122.0 million euros ($130.97 million) for the three months through March.

The group, controlled by Italy’s top insurer Generali , said its total assets managed rose 13% to a record high of 96.8 billion euros.

($1 = 0.9315 euros) (Reporting by Federica Urso; editing by Jason Neely)

(c) Copyright Thomson Reuters 2024. Click For Restrictions – https://agency.reuters.com/en/copyright.html