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FinecoBank
Earnings Release • Jun 6, 2024
4321_rns_2024-06-06_c19a9715-ae05-40f3-882f-d9ade027e68a.pdf
Earnings Release
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| Informazione Regolamentata n. 1615-43-2024 |
Data/Ora Inizio Diffusione 6 Giugno 2024 07:30:03 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | FINECOBANK | |
| Identificativo Informazione Regolamentata |
: | 191834 | |
| Utenza - Referente | : | FINECOBANKN02 - Spolini | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 6 Giugno 2024 07:30:03 | |
| Data/Ora Inizio Diffusione | : | 6 Giugno 2024 07:30:03 | |
| Oggetto | : | PR FINECOBANK_TOTAL NET SALES MAY 2024 |
|
| Testo del comunicato |
Vedi allegato
PRESS RELEASE
MAY NET SALES CLOSE TO € 950 MILLION, AUM MORE THAN DOUBLED Y/Y CLIENTS EXCEED THE 1.6 MILLION THRESHOLD
- May net sales at € 946 million. Asset under Management at € 364 million
- Net Sales YTD at € 4.0 billion. Asset under Management at € 1.0 billion
- FAM: May retail net sales at € 234 million, assets at € 32.3 billion
- Brokerage: estimated revenues in May at € 19 million
Milan, June 6th, 2024
Total net sales in May 2024 continued at high levels at € 946 million, confirming more and more Fineco as the reference platform for all financial needs for all its customers, which in May exceeded the 1.6 million threshold. The asset mix highlights Asset under Management net sales at € 364 million (more than doubling the € 180.3 million of May 2023), thanks to retail net sales by Fineco Asset Management that with € 234 million has more than offset the outflows from insurance (slowing down compared to last month to € -75 million). Asset under Custody were equal to € 712 million, and deposits were at € -130 million.
Estimated brokerage revenues equaled to around € 19 million in May (+70% compared in the period 2017/2019). Since the beginning of the year, estimated revenues reached around € 90 million (+14% y/y).
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Robust total net sales in May confirm Fineco's ability to attract customers significantly interested in investments, through in-house platforms and the continuous support of our financial advisors. The acceleration in the number of new clients goes hand in hand with a market trend more focused towards more transparent and efficient advisory services, thus facilitating a general strengthening of the Asset under Management component. The significant role of our PFAs in supporting clients on this path emerges strongly, taking advantage of the full range of solutions within the advanced advisory services."
figures in € million
| JAN - MAY |
JAN - MAY |
|||
|---|---|---|---|---|
| TOTAL NET SALES | MAY 2024 | MAY 2023 | '24 | '23 |
| Assets under management | 364.1 | 180.3 | 1,028.1 | 1,487.8 |
| Assets under custody | 711.5 | 867.5 | 3,850.8 | 4,552.5 |
| of which deposit accounts with third parties | -30.9 | 19.1 | -75.4 | 187.7 |
| Direct deposits | -130.1 | -180.3 | -858.1 | -1,601.0 |
| TOTAL NET SALES | 945.6 | 867.5 | 4,020.8 | 4,439.3 |
| TOTAL FINANCIAL ASSETS | MAY 2024 | DEC 2023 | MAY 2023 | |
| Assets under management | 60,662.5 | 58,016.1 | 54,891.2 | |
| Assets under custody | 41,457.1 | 36,098.5 | 30,039.9 | |
| of which deposit accounts with third parties | 554.4 | 629.8 | 5498.9 | |
| Direct deposits | 27,584.4 | 28,441.8 | 28,968.8 | |
| TOTAL FINANCIAL ASSETS | 129,704.0 | 122,556.5 | 113,900.0 |
FAM, retail net sales at € 234 million, TFA at € 32.3 billion
In May, Fineco Asset Management recorded retail net sales equal to € 234 million, bringing the total since the beginning of the year at € 883 million. FAM assets as of May 31st, 2024 reached € 32.3 billion, of which € 21.4 billion retail class (+18% y/y) and € 11.0 billion institutional class (+4.6% y/y). The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 35.2% compared to 33.0% a year ago.
Total Financial Assets above € 129 billion, Private Banking above € 60 billion
Total Financial Assets were equal to € 129.7 billion, compared to € 113.9 billion in May 2023 (+14%). In particular, TFA related to Private Banking were at € 60.8 billion, compared to € 50.2 billion in May 2023 (+21.2%).
More than 12,100 new clients in May
In May, 12,113 new clients were acquired, growing by 13% y/y and leading to 63,218 new clients since the beginning of the year (+24% y/y). Total number of clients reached 1,606,121 as of May 31st, 2024.
figures in € million
| PFA NETWORK NET SALES | MAY 2024 | MAY 2023 | JAN-MAY '24 |
JAN-MAY '23 |
|---|---|---|---|---|
| Assets under management | 366.6 | 182.5 | 1,051.5 | 1,487.8 |
| Assets under custody | 521.4 | 666.1 | 2,724.2 | 3,446.6 |
| of which deposit accounts with third parties | -17.2 | 13.5 | -35.6 | 113.7 |
| Direct deposits | -120.1 | -131.2 | -671.8 | -1,284.2 |
| TOTAL NET SALES PFA NETWORK | 767.9 | 717.3 | 3,103.9 | 3,650.3 |
| PFA NETWORK TFA | MAY 2024 | DEC 2023 | MAY 2023 | |
| Assets under management | 60,206.3 | 57,551.2 | 54,426.8 | |
| Assets under custody | 30,926.5 | 27,020.9 | 22,385.7 | |
| of which deposit accounts with third parties | 309.1 | 344.7 | 290.6 | |
| Direct deposits | 21,464.0 | 22,133.3 | 22,592.7 | |
| PFA NETWORK TFA | 112,596.7 | 106,705.5 | 99,405.1 |
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
| Fine Comunicato n.1615-43-2024 | Numero di Pagine: 5 |
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