Earnings Release • Mar 5, 2020
Earnings Release
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| Informazione Regolamentata n. 1615-30-2020 |
Data/Ora Ricezione 05 Marzo 2020 14:38:11 |
MTA | |||
|---|---|---|---|---|---|
| Societa' | : | FINECOBANK | |||
| Identificativo Informazione Regolamentata |
: | 128314 | |||
| Nome utilizzatore | : | FINECOBANKN02 - Spolini | |||
| Tipologia | : | REGEM | |||
| Data/Ora Ricezione | : | 05 Marzo 2020 14:38:11 | |||
| Data/Ora Inizio Diffusione presunta |
: | 05 Marzo 2020 14:38:12 | |||
| Oggetto | : | PR February Net Sales | |||
| Testo del comunicato |
Vedi allegato.
In February, Fineco recorded total net sales equal to € 771 million, robust, high quality and gathered without short-term commercial incentives. The asset mix highlights the ongoing conversion towards Asset under Management by customers: Asset under Management totaled € 340 million, increasing by 64% compared to € 207 million in February 2019. Asset under Custody totaled € 24 million, and direct deposits amounted at € 407 million.
As regards Brokerage, February recorded a new historic high both for executed orders and volumes. Revenues for the first two months of 2020 reached around € 33 mln from € 19.5 mln a year ago (+70%).
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Total net sales were once again very solid in February, in particular for asset under management, confirming our personal financial advisors' ability to support customers in a more aware management of their assets, notably in complex market phases. Indeed, in a high volatility phase, Fineco's business model, diversified and well balanced, confirms its soundness, recording in the first months of the year two consecutive records in brokerage".
| TOTAL NET SALES | FEB 2020 | FEB 2019 | JAN-FEB '20 | JAN-FEB '19 |
|---|---|---|---|---|
| Assets under management | 340.2 | 207.0 | 557.5 | 345.6 |
| Assets under custody | 23.7 | 91.3 | 184.7 | 166.5 |
| Direct deposits | 406.7 | 272.5 | 351.8 | 407.0 |
| TOTAL NET SALES | 770.6 | 570.8 | 1,094.0 | 919.1 |
| TOTAL FINANCIAL ASSETS | FEB 2020 | DEC 2019 | FEB 2019 | |
| Assets under management | 40,578.0 | 40,505.4 | 35,435.1 | |
| Assets under custody | 14,854.8 | 15,323.8 | 14,946.1 | |
| Direct deposits | 25,941.4 | 25,589.7 | 22,475.9 | |
| TOTAL FINANCIAL ASSETS | 81,374.2 | 81,418.8 | 72,857.1 |
"Guided products & services" net sales amounted at € 432 million in February, +87% year on year (€ 231 million in February 2019). Since the beginning of the year net sales totaled € 701 million (+123% y/y). The penetration rate of Guided Products reached 72% on total AuM compared to 67% of February 2019.
Asset under Management figures were supported once again by Fineco Asset Management: in February FAM retail net sales amounted to € 254 million. As of February 29th, 2020 FAM managed € 14.1 billion of assets, of which € 8.7 billion retail class (+40% y/y) and € 5.4 billion institutional class (+18% y/y).
Total financial assets were at € 81.4 billion, +12% compared to February 2019 and almost flat compared to December 2019.
In February 7,674 new clients have been acquired. Total number of customers reached 1,363,110 as of February 29th, 2020 (+5.5% y/y).
| FEB 2020 | FEB 2019 | JAN-FEB '20 | JAN-FEB '19 |
|---|---|---|---|
| 339.4 | 207.5 | 553.1 | 342.7 |
| 50.0 | 71.3 | 163.3 | 137.2 |
| 328.5 | 229.9 | 400.6 | 367.5 |
| 717.9 | 508.7 | 1,117.0 | 847.4 |
| FEB 2020 | DEC 2019 | FEB 2019 | |
| 40,094.9 | 40,012.3 | 34,954.6 | |
| 11,176.0 | 11,467.4 | 11,208.7 | |
| 19,608.3 | 19,207.7 | 16,935.0 | |
| 70,879.3 | 70,687.3 | 63,098.3 | |
FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers a business model that is unique in Europe, combining the best platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, on transactional and advisory platforms developed with proprietary technologies. Fineco is a leading bank in brokerage in Europe, and one of the most important players in Private Banking in Italy, offering advanced and tailor-made advisory services. Since 2017, FinecoBank has also been in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with a mission to develop investment solutions in partnership with top international asset managers.
Fineco - Media Relations Fineco - Investor Relations Tel.: +39 02 2887 2256 Tel. +39 02 2887 3736/2358 [email protected] [email protected]
Barabino & Partners Tel. +39 02 72023535 Emma Ascani [email protected] +39 335 390 334
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