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FinecoBank
Earnings Release • Jul 8, 2021
4321_rns_2021-07-08_b20ca375-24f3-4da4-9d12-a314c9d1d0e9.pdf
Earnings Release
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| Informazione Regolamentata n. 1615-51-2021 |
Data/Ora Ricezione 08 Luglio 2021 09:56:59 |
MTA | |
|---|---|---|---|
| Societa' | : | FINECOBANK | |
| Identificativo Informazione Regolamentata |
: | 149736 | |
| Nome utilizzatore | : | FINECOBANKN02 - Spolini | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 08 Luglio 2021 09:56:59 | |
| Data/Ora Inizio Diffusione presunta |
: | 08 Luglio 2021 09:57:00 | |
| Oggetto | : | FinecoBank - Total Net Sales June 2021 | |
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
JUNE TOTAL NET SALES: AUM OVER 80%, IN 1H21 NEARS THE WHOLE 2020 TFA EXCEEDED € 100 BN, FAM ASSETS OVER € 20 BN
- June net sales at € 796 million. Asset under Management at € 645 million
- Net Sales YTD at € 5.8 billion. Asset under Management at € 4 billion
- FAM: retail net sales at € 655 million, o/w € 344 million from 3 rd party funds migration
- Brokerage: estimated revenues in June at € 15 million
Milan, July 8 th , 2021
Total net sales stood at € 796 million in June (€ 801 million a year ago), without any short-term commercial initiatives and confirming Fineco's entrance in a new dimension of growth. Please note that taxes paid by customers amounted to € 346 million (+35% y/y), confirming a continuous improvement in the quality of our clients that more and more chose Fineco as primary bank. Compared to June 2020, the asset mix has strongly improved thanks to the contribution of Asset under Management, equal to € 645 million (81% of total net sales) from € 598 million a year ago. Asset under Custody stood at € 28 million, while deposits were € 123 million. In 1H21, total net sales were near € 5.8 billion, with AuM equal to € 4 billion (compared to € 4.3 billion in the whole 2020).
Estimated brokerage revenues stood at around € 15 million in June, compared to € 21 million in June 2020 due to lower market volatility than in the past: nevertheless, revenues were +35% higher than the average 2017-2019, thanks to the enlargement of our base of active clients and to the continuous update of our offer. Since the beginning of the year, estimated revenues reached around € 113 million (-11% y/y). In 1H21 executed orders reached 24.9 million, -1.7% y/y.
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"In June total net sales are once again very solid, with a strong result in asset under management, confirming the effectiveness of a strategy aimed at stimulating the construction of diversified, efficient and quality asset allocation. Our customers appreciated the investment solutions proposed by our subsidiary Fineco Asset Management, including the recent Target China, which allowed the company to position among the best players in Italy. The strong growth in assets and the very positive result in net sales highlight a further step in the efficiency of the value chain within the whole investment platform, focused to satisfy all our customers' various needs".
1 Volatility calculated as average weighted weekly volatility of BUND, BTP, SP, EUROSTOXX, MINIDAX, DAX, FIB, MINIFIB, NASDAQ, DOW futures
figures in € million
| TOTAL NET SALES | JUN 2021 | JUN 2020 | JAN-JUN '21 | JAN-JUN '20 |
|---|---|---|---|---|
| Assets under management | 645.3 | 598.2 | 4,047.2 | 1,605.0 |
| Assets under custody | 28.4 | -82.7 | 1,481.1 | 2,576.0 |
| Direct deposits | 122.8 | 285.7 | 258.6 | 569.0 |
| TOTAL NET SALES | 796.5 | 801.3 | 5,786.9 | 4,749.9 |
| TOTAL FINANCIAL ASSETS | JUN 2021 | DEC 2020 | JUN 2020 | |
| Assets under management | 51,398.9 | 45,381.5 | 40,083.0 | |
| Assets under custody | 21,759.6 | 18,313.7 | 16,486.1 | |
| Direct deposits | 28,272.6 | 28,014.0 | 26,077.3 | |
| TOTAL FINANCIAL ASSETS | 101,431.0 | 91,709.1 | 82,646.4 |
Total Financial Assets above € 101 billion, Private Banking near €45 billion
Total Financial Assets were equal to € 101.4 billion (+23% y/y). In particular, TFA related to Private Banking were at € 44.8 billion, increasing by 36% compared to € 33.0 billion in June 2020.
Net sales in Guided Products & Services stood at € 726 million in June, compared to € 491 million in June 2020. The penetration rate of Guided Products reached 75% on total Asset under Management compared to 72% in June 2020.
FAM, TFA above € 20 billion, retail net sales at € 655 million
In June Fineco Asset Management assets were for the first time above € 20 billion, also thanks to the migration of about € 344 million from third-party funds into FAM funds, within the strategy of increasing the efficiency in the Investing value chain. FAM retail net sales in June therefore amounted to € 655 million, with a strong interest by clients for the new FAM Target China. The product, realized and managed internally by FAM, has finished itsissuance period becoming the best-seller through a single issuance by the Irish company. As of June 30 th, 2021 FAM managed € 20.3 billion of assets, of which € 13.2 billion retail class (+48% y/y) and € 7.1 billion institutional class (+34% y/y).
More than 66,000 new clients in 1H21, +45% y/y
In June, 8,119 new clients were acquired, totalling 66,277 new clients acquired in 1H21 (+45% comparing to 45,568 acquired in 1H20), confirming the improvement of the client base and the increase in average Total Financial Assets of new current accounts, after the introduction of the Smart Repricing on our banking services in 2020. Total number of clients reached 1,403,968 as of June 30 th , 2021.
figures in € million
| PFA NETWORK NET SALES | JUN 2021 | JUN 2020 | JAN-JUN '21 | JAN-JUN '20 |
|---|---|---|---|---|
| Assets under management | 640.3 | 593.9 | 4,009.0 | 1,616.9 |
| Assets under custody | -9.7 | -81.1 | 960.1 | 1,867.4 |
| Direct deposits | 87.8 | 180.8 | 576.3 | 618.3 |
| TOTAL NET SALES | 718.4 | 693.6 | 5,545.3 | 4,102.7 |
| PFA NETWORK TFA | JUN 2021 | DEC 2020 | JUN 2020 | |
| Assets under management | 50,862.8 | 44,893.8 | 39,644.2 | |
| Assets under custody | 16,225.7 | 13,622.9 | 12,298.3 | |
| Direct deposits | 21,703.5 | 21,127.2 | 19,744.7 | |
| TOTAL FINANCIAL ASSETS | 88,792.0 | 79,644.0 | 71,687.1 | |
| EXECUTED ORDERS | JUN 2021 | JUN 2020 | ||
| Equity Italy | 8,758,848 | 10,583,922 | ||
| o/w internalized | 1,894,193 | 2,652,701 | ||
| Equity US + other markets | 7,225,426 | 5,243,466 | ||
| Bonds | 248,242 | 401,743 | ||
| Derivatives | 4,839,226 | 5,316,469 | ||
| o/w internalized Italy | 320,770 | 381,484 | ||
| CFD | 1,536,800 | 1,928,562 |
FinecoBank
FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers an unique business model in Europe, combining advanced platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, through 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 is in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with the mission to develop investment solutions in partnership with top international asset managers.
TOTAL EXECUTED ORDERS 24,898,373 25,323,526
Other 2,289,831 1,849,364
Contacts:
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