Italy's Banca Generali posts 22% jump in nine-month profit

Nov 10 (Reuters) - Italian wealth manager Banca Generali said on Tuesday its net profit rose 22% to €384.1 million ($431.2 million) in the first nine months of 2026, driven by higher total assets and a favourable trend of recurring profitability.

This is the first round of results after Monte dei Paschi shareholders in October rejected CEO Luigi Lovaglio's defence plan against Intesa Sanpaolo's takeover offer, which would have included offers to buy private lender Banca Generali and rival commercial bank Banco BPM.

• "These results are even more significant as they were delivered during a challenging phase, marked by the uncertainty linked to the extraordinary operations involving the bank and the rising market volatility," CEO Gian Maria Mossa said

• Net inflows reached €7.1 billion between January and October, up 27.2% year-on-year, including €845 million in October

• The bank raised its 2026 net inflows target to more than €8.0 billion, from about €7.5 billion projected in July

• It upgraded its net interest income guidance to €340-345 million, at the high end of the previously announced range

• Net interest income totalled €242.8 million in the first nine months of the year

($1 = 0.8908 euros)

(Reporting by Romolo Tosiani in Gdansk; Editing by Milla Nissi-Prussak)