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FinecoBank
Earnings Release • Nov 7, 2024
4321_rns_2024-11-07_d54e3788-39b4-458d-81c5-e59f0c315c07.pdf
Earnings Release
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| Informazione Regolamentata n. 1615-64-2024 |
Data/Ora Inizio Diffusione 7 Novembre 2024 10:26:01 |
Euronext Milan | ||
|---|---|---|---|---|
| Societa' | : | FINECOBANK | ||
| Identificativo Informazione Regolamentata |
: | 197738 | ||
| Utenza - Referente | : | FINECOBANKN02 - Spolini | ||
| Tipologia | : | REGEM | ||
| Data/Ora Ricezione | : | 7 Novembre 2024 10:26:01 | ||
| Data/Ora Inizio Diffusione | : | 7 Novembre 2024 10:26:01 | ||
| Oggetto | : | PR FINECOBANK_TOTAL NET SALES OCTOBER 2024 |
||
| Testo del comunicato |
Vedi allegato
PRESS RELEASE
OCTOBER NET SALES CLOSE TO € 1 BILLION, DOUBLED Y/Y NEW CLIENTS RECORD HIGH, BEST MONTH OF 2024 FOR FAM RETAIL NET SALES
- October net sales at € 979 million. AuM at € 429 million
- Net Sales YTD at € 7.9 billion. Asset under Management at € 2.9 billion
- FAM: October retail net sales at € 460 million, assets at € 35.2 billion
- Brokerage: estimated revenues in October at € 18 million
Milan, November 7 th, 2024
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Total net sales in October 2024 stood at € 979 million (+98% compared to € 496 million as of last year) and confirmed the higher interest for Asset under Management solutions, as well Fineco ability to attract new customers. The asset mix highlights a strong growth of Asset under Management net sales component at € 429 million (from € 13 million as of October 2023), while Fineco Asset Management records retail net sales at € 460 million, best monthly result from the beginning of the year, which has far more than offset the outflows from insurance (equal to € -97 million). Asset under Custody were equal to € 555 million, and deposits were at € -5 million.
Estimated brokerage revenues equaled to around € 18 million in October, reaching since the beginning of the year around € 178 million (+10% y/y).
| TOTAL NET SALES | OCT 2024 | OCT 2023 | JAN-OCT '24 | JAN-OCT '23 |
|---|---|---|---|---|
| Assets under management | 428.6 | 13.1 | 2,922.8 | 2,264.3 |
| Assets under custody | 555.3 | 1,391.7 | 5,260.1 | 8,804.5 |
| o/w Third party deposit current accounts | -53.8 | 25.3 | -250.0 | 313.9 |
| Direct deposits | -4.6 | -909.2 | -258.8 | -3,789.1 |
| TOTAL NET SALES | 979.3 | 495.5 | 7,924.1 | 7,279.7 |
| TOTAL FINANCIAL ASSETS | OCT 2024 | DEC 2023 | OCT 2023 | |
| Assets under management | 64,197.3 | 58,016.1 | 54,408.0 | |
| Assets under custody | 43,935.5 | 36,098.5 | 33,956.0 | |
| o/w Third party deposit current accounts | 379.8 | 629.8 | 675.1 | |
| Direct deposits | 28,182.0 | 28,441.8 | 26,780.8 | |
| TOTAL FINANCIAL ASSETS | 136,314.8 | 122,556.5 | 115,144.8 |
figures in € million
FAM, retail net sales at € 460 million, around € 2.6 billion since the beginning of the year
In October, Fineco Asset Management recorded retail net sales equal to € 460 million, bringing the total since the beginning of the year at € 2.6 billion. FAM assets as of October 31 st, 2024 reached € 35.2 billion, of which € 23.8 billion retail class (+30% y/y) and € 11.4 billion institutional class (+12% y/y). The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 37.0% compared to 33.6% a year ago.
Total Financial Assets above € 136 billion, Private Banking above € 65 billion
Total Financial Assets were equal to € 136.3 billion, compared to € 115.1 billion in October 2023 (+18%). In particular, TFA related to Private Banking were at € 65.4 billion, compared to € 50.6 billion in October 2023 (+29%).
Historic high for new clients, above 15,000 in October
In October, 15,083 new clients were acquired, growing by 28% y/y and leading to 124,202 new clients since the beginning of the year (+27% y/y). As of October 31 st, 2024 total number of clients reached 1,635,980, figure already including the closing of nearly half UK accounts, while approaching the closure of the Bank's business in that market.
figures in € million
| PFA NETWORK NET SALES | OCT 2024 | OCT 2023 | JAN-OCT '24 | JAN-OCT '23 |
|---|---|---|---|---|
| Assets under management | 433.3 | 17.4 | 2,952.2 | 2,272.4 |
| Assets under custody | 343.4 | 1,041.5 | 3,571.2 | 6,621.9 |
| o/w Third party deposit current accounts | -30.9 | 13.8 | -130.6 | 190.3 |
| Direct deposits | -24.6 | -652.0 | -371.1 | -2,967.9 |
| TOTAL NET SALES | 752.1 | 406.9 | 6,152.3 | 5,926.4 |
| PFA NETWORK TFA | OCT 2024 | DEC 2023 | OCT 2023 | |
| Assets under management | 63,735.5 | 57,551.2 | 53,971.0 | |
| Assets under custody | 32,637.5 | 27,020.9 | 25,398.6 | |
| o/w Third party deposit current accounts | 214.1 | 344.7 | 367.2 | |
| Direct deposits | 21,765.2 | 22,133.3 | 20,908.9 | |
| TOTAL FINANCIAL ASSETS | 118,138.2 | 106,705.5 | 100,278.4 |
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.1615-64-2024 | Numero di Pagine: 5 |
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