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FinecoBank
Earnings Release • Oct 7, 2024
4321_rns_2024-10-07_736c63a9-0966-4494-9fa9-19ca7f98bd5f.pdf
Earnings Release
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| Informazione Regolamentata n. 1615-58-2024 |
Data/Ora Inizio Diffusione 7 Ottobre 2024 10:05:30 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | FINECOBANK | |
| Identificativo Informazione Regolamentata |
: | 196502 | |
| Utenza - Referente | : | FINECOBANKN02 - Spolini | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 7 Ottobre 2024 10:05:30 | |
| Data/Ora Inizio Diffusione | : | 7 Ottobre 2024 10:05:30 | |
| Oggetto | : | PR FINECOBANK_TOTAL NET SALES SEPTEMBER 2024 |
|
| Testo del comunicato |
Vedi allegato
PRESS RELEASE
SEPTEMBER NET SALES DRIVEN BY AUM, MORE THAN QUADRUPLED Y/Y BEST MONTH OF 2024 FOR FAM RETAIL NET SALES, NEW CLIENTS ACCELERATE
- September net sales at € 466 million. AuM at € 464 million
- Net Sales YTD at € 6.9 billion. Asset under Management at € 2.5 billion
- FAM: September retail net sales at € 427 million, assets at € 34.8 billion
- Brokerage: estimated revenues in September at € 14 million
Milan, October 7 th, 2024
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Total net sales in September 2024 continued at elevated levels at € 466 million (+4% compared to € 447 million as of last year), confirming the higher interest for Asset under Management by Fineco ever-increasing customers. Despite the usual monthly seasonality, the asset mix highlights a solid Asset under Management net sales component at € 464 million (+312% from € 112 million as of September 2023), while Fineco Asset Management records retail net sales at € 427 million, best monthly result from the beginning of the year, which has far more than offset the outflows from insurance (equal to € -63 million). Asset under Custody were equal to € -265 million, and deposits were at € 267 million.
Estimated brokerage revenues equaled to around € 14 million in September (more than 25% higher compared to the monthly average of the period 2017/2019). Since the beginning of the year, estimated revenues reached around € 160 million (+11% y/y).
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Total net sales in September highlight the growing interest of clients towardsthe opportunities offered by the asset under management. In this context, our Network of financial advisors once again demonstratesits ability to support customers with a long-term vision, relying on a wide range of investment solutions. Fineco Asset Management is also continuing its growth path, which has accelerated in the recent months, contributing in enhancing the Bank's attractiveness: the continuous expansion of the customer base confirms the effectiveness of Fineco's business model and its ability to successfully face different market phases."
| figures in € million | ||||
|---|---|---|---|---|
| TOTAL NET SALES | SEP 2024 | SEP 2023 | JAN-SEP '24 | JAN-SEP '23 |
| Assets under management | 463.8 | 112.5 | 2,494.2 | 2,251.2 |
| Assets under custody | -265.1 | 836.2 | 4,704.8 | 7,412.8 |
| o/w Third party deposit current accounts | -41.1 | 37.3 | -196.2 | 288.5 |
| Direct deposits | 267.4 | -502.0 | -254.2 | -2,879.9 |
| TOTAL NET SALES | 466.0 | 446.7 | 6,944.8 | 6,784.2 |
| TOTAL FINANCIAL ASSETS | SEP 2024 | DEC 2023 | SEP 2023 | |
| Assets under management | 63,808.4 | 58,016.1 | 55,399.9 | |
| Assets under custody | 43,269.9 | 36,098.5 | 33,199.5 | |
| o/w Third party deposit current accounts | 433.6 | 629.8 | 649.7 | |
| Direct deposits | 28,188.7 | 28,441.8 | 27,690.0 | |
| TOTAL FINANCIAL ASSETS | 135,267.0 | 122,556.5 | 116,289.4 |
FAM, retail net sales at € 427 million, above € 2 billion since the beginning of the year
In September, Fineco Asset Management recorded retail net sales equal to € 427 million, bringing the total since the beginning of the year at € 2.1 billion. FAM assets as of September 30 st, 2024 reached € 34.8 billion, of which € 23.3 billion retail class (+26% y/y) and € 11.5 billion institutional class (+9% y/y). The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 36.6% compared to 33.5% a year ago.
Total Financial Assets above € 135 billion, Private Banking near € 65 billion
Total Financial Assets were equal to € 135.3 billion, compared to € 116.3 billion in September 2023 (+16%). In particular, TFA related to Private Banking were at € 64.8 billion, compared to € 51.6 billion in September 2023 (+25%).
Almost 13,000 new clients in September, more than 100,000 from the beginning of the year
In September, 12,850 new clients were acquired, growing by 33% y/y and leading to 109,119 new clients since the beginning of the year (+27% y/y). Total number of clients reached 1,638,936 as of September 30 st , 2024.
figures in € million
| PFA NETWORK NET SALES | SEP 2024 | SEP 2023 | JAN-SEP '24 | JAN-SEP '23 |
|---|---|---|---|---|
| Assets under management | 463.7 | 113.3 | 2,518.9 | 2,255.0 |
| Assets under custody | -215.4 | 605.3 | 3,227.8 | 5,580.5 |
| o/w Third party deposit current accounts | -20.7 | 24.6 | -99.7 | 176.5 |
| Direct deposits | 123.3 | -368.1 | -346.5 | -2,316.0 |
| TOTAL NET SALES | 371.6 | 350.5 | 5,400.2 | 5,519.5 |
| PFA NETWORK TFA | SEP 2024 | DEC 2023 | SEP 2023 | |
| Assets under management | 63,340.6 | 57,551.2 | 54,943.0 | |
| Assets under custody | 32,193.7 | 27,020.9 | 24,803.6 | |
| o/w Third party deposit current accounts | 244.9 | 344.7 | 353.4 | |
| Direct deposits | 21,790.8 | 22,133.3 | 21,560.9 | |
| TOTAL FINANCIAL ASSETS | 117,325.1 | 106,705.5 | 101,307.5 |
Contacts: Fineco - Media Relations Fineco - Investor Relations Tel.: +39 02 2887 2256 Tel. +39 02 2887 2358 [email protected] [email protected]
Barabino & Partners Tel. +39 02 72023535 Emma Ascani [email protected] +39 335 390 334