Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Banca Generali First Quarter 2026 Results Conference Call. [Operator Instructions] At this time, I would like to turn the conference over to Mr. Gian Maria Mossa, CEO and General Manager of Banca Generali. Please go ahead, sir.

Gian Mossa
GM, CEO & Executive Director

Good afternoon, and welcome to our first quarter results conference call. As usual, let's start with a quick introduction.

The year started very well with both strong financial and commercial results. In particular, net profit was well supported by both recurring and variable components. The commercial results were very, very strong, thanks to an extraordinary job of the existing sales force. Probably more -- even more important, the two major initiatives of the bank, Insurbanking and Intermonte are going in line or above the expectation. In particular, Intermonte closed the first quarter of the year with an increase of 40% of the result and EUR 3 million of revenues driven by synergies. Today, we'll take the opportunity also to give you an update on ETF and present Investlinx as we are at the final phase in the acquisition of this small but strategic asset management in Ireland.

But as usual, let's start by numbers at Page 4 with net profit, overall net profit close to EUR 126 million. As I said, thanks to a strong contribution