FinecoBank

Earnings Release • Apr 6, 2023

Informazione Regolamentata n. 1615-33-2023	Data/Ora Ricezione 06 Aprile 2023 10:57:13		Euronext Milan
Societa'	:	FINECOBANK
Identificativo Informazione Regolamentata	:	174856
Nome utilizzatore	:	FINECOBANKN02 - Spolini
Tipologia	:	REGEM
Data/Ora Ricezione	:	06 Aprile 2023 10:57:13
Data/Ora Inizio Diffusione presunta	:	06 Aprile 2023 10:57:14
Oggetto	:	FinecoBank_PR Total Net Sales March 2023
Testo del comunicato

Vedi allegato.

PRESS RELEASE

MARCH NET SALES ABOVE €1 BILLION, BOOST IN BROKERAGE REVENUES STRONG CONTRIBUTION TO AUM BY FAM, CLIENTS ACQUISITION ACCELERATES

• March net sales at € 1.1 billion. Asset under Management at € 155 million, o/w FAM retail € 423 million
• FAM: assets at € 27.9 billion
• Net Sales YTD at € 2.7 billion. Asset under Management at € 1 billion
• Brokerage: estimated revenues in March at € 21 million

Milan, April 6th, 2023

Total net sales in March were extremely solid and in acceleration at € 1.1 billion, continuing its growth path and with a further improvement in the acquisition of new clients, at around 11,000 in the month (+19% compared to the same month of 2022).

Asset Under Custody net sales were equal to € 1.6 billion (see pag.2 for details) and Asset Under Management to € 155 million. The latter has been driven by Fineco Asset Management net sales (€ 423 million) which was able to catch outflows coming from insurance products (€ -421 million). The asset mix has been influenced by the interest rates scenario and by market volatility: in March the Bank confirmed the ongoing transformation of non transactional liquidity¹ (€ -594 million) both towards equity and fixed income, also due to the issuance of the new BTP Italia for € 423 million (in line with previous issuances).

Net sales in the first quarter were above € 2.7 billion, in line with last year (€ 2.8 billion), while Asset Under Management is equal to € 1.0 billion (+12% y/y).

Estimated brokerage revenues equalled to around € 21 million in March: around more than 80% higher than monthly average in 2017/19. Since the beginning of the year, estimated revenues reached around € 53 million.

¹ Transactional liquidity is related to clients' banking operations (i.e. utilities, current expenses, salaries, bank transfers, credit cards…)

Alessandro Foti, CEO and General Manager of FinecoBank, commented:

"Robust net sales figures in March are particularly solid, with strong inflows from clients that are invested on the market through the help of our Personal Financial Advisors and of our proprietary platforms. In the current context, clients are looking at both equity and fixed-income products able to deliver yield with fair prices, and with a strong interest for Fineco Asset Management solutions. Our clients' strong interaction with financial markets is further confirmed by the brokerage platform, which has recorded a strong growth in revenues in the month."

figures in € million

TOTAL NET SALES	MAR 2023		MAR 2022 JAN-MAR '23 JAN-MAR '22
Assets under management	154.7	329.0	1,040.5	929.5
Assets under custody	1,565.0	422.0	2,929.9	1,029.0
o/w Third party deposit current accounts	36.2	0.4	143.4	22.2
Direct deposits	-594.5	456.3	-1,230.0	866.4
TOTAL NET SALES	1,125.2	1,207.3	2,740.5	2,824.9
TOTAL FINANCIAL ASSETS	MAR 2023	DEC 2022	MAR 2022
Assets under management	54,132.1	52,072.6	53,650.9
Assets under custody	28,505.0	23,915.4	22,804.0
o/w Third party deposit current accounts	504.6	361.2	113.7
Direct deposits	29,339.9	30,569.9	30,361.7
TOTAL FINANCIAL ASSETS	111,977.1	106,557.9	106,816.6

Asset Under Custody net sales, the equity component increases

Asset Under Custody net sales, equal to € 1.6 billion, show an higher interest by clients towards equities, with € 464 net sales also thanks to the market correction in the month. The issuance of the new BTP Italia has been in line with the previous ones, with clients buying € 423 million, while the remaining part of AUC net sales is mainly represented by other bonds.

FAM, retail net sales at € 423 million, TFA at € 27.9 billion

In March, Fineco Asset Management retail net sales amounted to € 423 million, confirming to be key to both satisfy clients' financial investment need and to catch recent outflows from insurance solutions. At this regard, clients showed a strong interest for the new fixed-income solutions launched by FAM. Since the beginning of the year retail net sales were equal to € 1.4 billion, leading FAM assets as of March 31st, 2023 at € 27.9 billion, of which € 17.4 billion retail class (+14% y/y) and € 10.5 billion institutional class.

The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 32.2% compared to 28.4% in March 2022.

Total Financial Assets at € 112 billion

Total Financial Assets were equal to € 112.0 billion, compared to € 106.8 billion in March 2022. In particular, TFA related to Private Banking were at € 48.9 billion compared to € 47.1 billion of the previous year (+4% y/y).

In March almost 11,000 new clients

In March, 10,895 new clients were acquired (+19% y/y). Figures confirm the improvement of the client base, more interested in investing, and the increase in average Total Financial Assets of new current accounts. Total number of clients reached 1,506,314 as of March 31st, 2023.

figures in € million
PFA NETWORK NET SALES	MAR 2023		MAR 2022 JAN-MAR '23 JAN-MAR '22
Assets under management	154.8	332.4	1,037.9	934.7
Assets under custody	1,170.3	304.5	2,197.6	734.4
o/w Third party deposit current accounts	22.7	0.0	83.7	9.5
Direct deposits	-421.5	370.1	-963.7	832.3
TOTAL NET SALES	903.6	1,006.9	2,271.7	2,501.4
PFA NETWORK TFA	MAR 2023	DEC 2022	MAR 2022
Assets under management	53,668.8	51,622.6	53,141.0
Assets under custody	21,194.3	17,712.8	16,917.2
o/w Third party deposit current accounts	260.6	176.9	54.2
Direct deposits	22,913.1	23,876.8	23,521.6
TOTAL FINANCIAL ASSETS	97,776.3	93,212.2	93,579.9

Contacts: Fineco - Media Relations Fineco - Investor Relations Tel.: +39 02 2887 2256 Tel. +39 02 2887 3736/2358 mediarelations@finecobank.com investors@finecobank.com

Barabino & Partners Tel. +39 02 72023535 Emma Ascani e.ascani@barabino.it +39 335 390 334