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FinecoBank
Earnings Release • Aug 6, 2024
4321_rns_2024-08-06_76c044ae-0629-4ba8-bc30-2910d1a45cd5.pdf
Earnings Release
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| Informazione Regolamentata n. 1615-52-2024 |
Data/Ora Inizio Diffusione 6 Agosto 2024 10:31:15 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | FINECOBANK | |
| Identificativo Informazione Regolamentata |
: | 194451 | |
| Utenza - Referente | : | FINECOBANKN02 - Spolini | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 6 Agosto 2024 10:31:15 | |
| Data/Ora Inizio Diffusione | : | 6 Agosto 2024 10:31:15 | |
| Oggetto | : | PR FinecoBank - Total Net Sales July 2024 | |
| Testo del comunicato |
Vedi allegato
PRESS RELEASE
JULY NET SALES ABOVE € 750 MILLION, SOLID AUM NEW CLIENTS IN THE MONTH AT +43% Y/Y, FAM RETAIL NET SALES ACCELERATES
- July net sales at € 755 million. Asset under Management at € 304 million
- Net Sales YTD at € 5.8 billion. Asset under Management at € 1.8 billion
- FAM: July retail net sales at € 317 million, assets at € 33.6 billion
- Brokerage: estimated revenues in July at € 18 million
Milan, August 6 th, 2024
Total net sales in July 2024 reached € 755 million (+55% from € 486 million as of last year), confirming the higher interest for investments by Fineco ever-increasing customers. The asset mix highlights a solid Asset under Management net sales component at € 304 million, while Fineco Asset Management closes the month with the best result of the year in retail net sales at € 317 million, which has more than offset the outflows from insurance (equal to € -114 million). Asset under Custody were equal to € 252 million, and deposits were at € 200 million.
Estimated brokerage revenues equaled to around € 18 million in July (+60% compared to the monthly average of the period 2017/2019). Since the beginning of the year, estimated revenues reached around € 129 million (+14% y/y).
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Solid total net sales in July are solid, confirming a further boost of interest towards investments by our customers, which goes hand in hand with the further increase of advanced advisory request. Two trends that see Fineco successfully face changing customers' demand of financial services. The strengthening of brokerage and the continuous increase of new customers confirm the appeal of Fineco's business model, as well as asset under management, which highlights our financial advisors' commitment in meeting customers' most sophisticated needs. In addition, we see the important contribution of Fam, with a wide offer of innovative and well diversified solutions, particularly suitable to the current market phase and to the new needs of savers, who are more and more oriented to efficiency, also with regards to costs."
figures in € million
| TOTAL NET SALES | JUL 2024 | JUL 2023 | JAN-JUL '24 | JAN-JUL '23 |
|---|---|---|---|---|
| Assets under management | 303.6 | 36.0 | 1,755.8 | 1,982.2 |
| Assets under custody | 251.6 | 250.7 | 4,683.0 | 5,568.0 |
| o/w Third party deposit current accounts | -23.6 | 19.6 | -119.1 | 222.3 |
| Direct deposits | 200.2 | 199.2 | -665.8 | -1,860.5 |
| TOTAL NET SALES | 755.4 | 485.9 | 5,773.1 | 5,689.7 |
| TOTAL FINANCIAL ASSETS | JUL 2024 | DEC 2023 | JUL 2023 | |
| Assets under management | 62,225.2 | 58,016.1 | 56,468.3 | |
| Assets under custody | 42,655.3 | 36,098.5 | 32,553.5 | |
| o/w Third party deposit current accounts | 510.7 | 629.8 | 583.5 | |
| Direct deposits | 27,776.8 | 28,441.8 | 28,709.3 | |
| TOTAL FINANCIAL ASSETS | 132,657.3 | 122,556.5 | 117,731.1 |
FAM, retail net sales at € 317 million, TFA at € 33.6 billion
In July, Fineco Asset Management recorded retail net sales equal to € 317 million, bringing the total since the beginning of the year at € 1.4 billion. FAM assets as of July 31st, 2024 reached € 33.6 billion, of which € 22.3 billion retail class (+18% y/y) and € 11.3 billion institutional class (+3% y/y). The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 35.9% compared to 33.6% a year ago.
Total Financial Assets close to € 133 billion, Private Banking at € 63 billion
Total Financial Assets were equal to € 132.7 billion, compared to € 117.7 billion in July 2023 (+13%). In particular, TFA related to Private Banking were at € 62.8 billion, compared to € 52.9 billion in July 2023 (+19%).
More than 12,000 new clients in July
In July, 12,133 new clients were acquired, growing by 43% y/y and leading to 85,726 new clients since the beginning of the year (+25% y/y). Total number of clients reached 1,622,189 as of July 31st, 2024.
figures in € million
| PFA NETWORK NET SALES | JUL 2024 | JUL 2023 | JAN-JUL '24 | JAN-JUL '23 |
|---|---|---|---|---|
| Assets under management | 305.3 | 37.5 | 1,781.4 | 1,984.1 |
| Assets under custody | 166.6 | 223.4 | 3,273.1 | 4,221.8 |
| o/w Third party deposit current accounts | -12.5 | 12.4 | -58.8 | 137.0 |
| Direct deposits | 119.0 | 115.3 | -594.9 | -1,555.3 |
| TOTAL NET SALES | 590.9 | 376.3 | 4,459.6 | 4,650.5 |
| PFA NETWORK TFA | JUL 2024 | DEC 2023 | JUL 2023 | |
| Assets under management | 61,763.2 | 57,551.2 | 55,992.7 | |
| Assets under custody | 31,768.8 | 27,020.9 | 24,303.8 | |
| o/w Third party deposit current accounts | 285.8 | 344.7 | 313.9 | |
| Direct deposits | 21,541.8 | 22,133.3 | 22,321.5 | |
| TOTAL FINANCIAL ASSETS | 115,073.8 | 106,705.5 | 102,618.0 |
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