Italy's Banca Generali targets $7.7 billion in 2026 inflows after profit beat

Feb 11 (Reuters) - Italian asset manager Banca Generali BGN.MI said on Wednesday it targeted more than 6.5 billion euros ($7.7 billion) in total net inflows and over 4 billion euros in assets under investment in 2026.

The private bank, owned by Italy's top insurer Generali GASI.MI, confirmed a positive trend in attracting new money, a key indicator of health for wealth managers, as it reported net inflows of 451 million euros for the month of January.

Last month, it had reported net inflows of 6.8 billion euros for 2025, comfortably meeting its previously communicated target of more than 6 billion.

Banca Generali reported a 3% rise in its annual profit to 445.8 million euros, beating analysts' consensus of 414.4 million euros provided by the bank, as its total assets reached a record high of 113.5 billion euros.

It proposed a dividend of 2.90 euros per share, marking a 76% payout rate on the yearly profit.

"We have started this new year on the right foot and we are approaching it with confidence and ambition, aware of a context marked by growing uncertainties and volatility," CEO Gian Maria Mossa said in a statement.

Banca Generali shares fell up to 8.6% on Wednesday as part of a Europe-wide read-across, after shares of U.S. brokerages tumbled due to wealth management startup Altruist's AI-enabled tax planning features.

($1 = 0.8398 euros)