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1. Company Snapshot

1.a. Company Description

Banca Generali S.p.A. distributes financial products and services for affluent and private customers through financial advisors primarily in Italy.It operates through Wealth Management Cash-Generating Unit (CGU) and Private Banking CGU segments.The company offers asset management products, such as portfolio management, investment advisory and mutual fund management, and managed solutions consisting of funds and Sicavs, and financial and insurance wrappers; banking products and services; insurance products; and trade finance services.


It operates 218 bank branches and financial advisor offices.The company was founded in 1997 and is headquartered in Trieste, Italy.

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1.b. Last Insights on BGN

Banca Generali's recent performance was driven by its strong Q3 2025 earnings, which featured a record recurring net profit. Strategic acquisitions are poised to enhance future growth. The company's resilience and consistent payouts make it an attractive dividend stock. With European markets experiencing mixed performances, Banca Generali's ability to navigate fluctuations is noteworthy. Its solid financials and growth prospects position it well in the current market environment. (Source: Banca Generali's Q3 2025 Earnings Call Highlights)

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Generali names Giulio Terzariol as group deputy CEO

Nov -13

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European Dividend Stocks To Consider In November 2025

Nov -06

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Banca Generali (BGNMF) Q3 2025 Earnings Call Highlights: Record Recurring Net Profit and ...

Nov -06

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Alleanza Assicurazioni and Banca Generali form alliance

Oct -10

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3 European Dividend Stocks Offering Up To 6.1% Yield

Sep -16

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MPS relaunches bid for Mediobanca with €13.5bn partial-cash offer

Sep -02

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Mediobanca shareholders reject $7bn bid for Banca Generali

Aug -22

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Mediobanca shareholders reject bid to acquire Banca Generali

Aug -21

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.15%)

6. Segments

Private Banking

Expected Growth: 1.2%

Banca Generali's Private Banking growth of 1.2% is driven by increasing demand for wealth management services among high-net-worth individuals, strategic partnerships with asset managers, and expansion into new markets. Additionally, the bank's digital transformation efforts and enhanced client experience have contributed to the growth.

Wealth Management

Expected Growth: 1.1%

Banca Generali's Wealth Management growth of 1.1% is driven by increasing demand for investment products, expansion into new markets, and strategic partnerships. Additionally, the company's digital transformation efforts, improved customer experience, and diversified product offerings have contributed to the growth. Furthermore, the Italian economy's moderate growth and increasing wealth among high-net-worth individuals have also supported the segment's expansion.

Corporate Center

Expected Growth: 0.9%

Banca Generali's Corporate Center growth is driven by increasing demand for wealth management services, strategic partnerships, and expansion into new markets. Additionally, the center's focus on digital transformation and process optimization has improved operational efficiency, contributing to the 0.9% growth rate.

7. Detailed Products

Life Insurance

Banca Generali's life insurance products provide financial protection to individuals and families in the event of death or disability.

Investment Funds

Banca Generali's investment funds offer a range of investment options for individuals and institutions, including equity, fixed income, and balanced funds.

Pension Funds

Banca Generali's pension funds provide a long-term savings solution for individuals and companies, helping to ensure a comfortable retirement.

Bancassurance

Banca Generali's bancassurance products combine banking and insurance services, offering customers a range of financial solutions under one roof.

Wealth Management

Banca Generali's wealth management services provide personalized financial planning and investment advice to high net worth individuals and families.

Private Banking

Banca Generali's private banking services offer tailored financial solutions and investment advice to high net worth individuals and families.

8. Banca Generali S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Banca Generali S.p.A. is medium due to the presence of alternative financial institutions and digital payment systems.

Bargaining Power Of Customers

The bargaining power of customers for Banca Generali S.p.A. is low due to the lack of negotiating power of individual customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Banca Generali S.p.A. is medium due to the presence of multiple suppliers of financial services and technology.

Threat Of New Entrants

The threat of new entrants for Banca Generali S.p.A. is high due to the increasing trend of fintech startups and digital banking platforms.

Intensity Of Rivalry

The intensity of rivalry for Banca Generali S.p.A. is high due to the presence of established competitors in the Italian banking industry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.05%
Debt Cost 3.95%
Equity Weight 84.95%
Equity Cost 9.36%
WACC 8.55%
Leverage 17.71%

11. Quality Control: Banca Generali S.p.A. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Banca Generali

A-Score: 7.3/10

Value: 5.0

Growth: 6.1

Quality: 8.5

Yield: 8.8

Momentum: 7.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
FinecoBank

A-Score: 7.0/10

Value: 3.6

Growth: 7.8

Quality: 8.8

Yield: 6.9

Momentum: 8.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Banca Sondrio

A-Score: 6.8/10

Value: 6.7

Growth: 4.9

Quality: 6.1

Yield: 8.8

Momentum: 9.5

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
Berner Kantonalbank

A-Score: 6.7/10

Value: 5.7

Growth: 5.3

Quality: 5.1

Yield: 6.9

Momentum: 7.5

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Mediobanca

A-Score: 6.7/10

Value: 5.5

Growth: 5.1

Quality: 7.1

Yield: 10.0

Momentum: 6.5

Volatility: 6.0

1-Year Total Return ->

View Full Report
Stock-Card
LLB

A-Score: 6.6/10

Value: 7.2

Growth: 4.0

Quality: 5.4

Yield: 6.9

Momentum: 6.5

Volatility: 9.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

54.65$

Current Price

54.65$

Potential

-0.00%

Expected Cash-Flows