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FinecoBank Earnings Release 2023
4321_rns_2023-12-11_b65429c2-572a-460b-a482-74188b5ef6c4.pdf
Earnings Release
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| Informazione Regolamentata n. 1615-78-2023 |
Data/Ora Inizio Diffusione 11 Dicembre 2023 10:36:25 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | FINECOBANK | |
| Identificativo Informazione Regolamentata |
: | 184286 | |
| Nome utilizzatore | : | FINECOBANKN02 - Spolini | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 11 Dicembre 2023 10:36:23 | |
| Data/Ora Inizio Diffusione |
: | 11 Dicembre 2023 10:36:25 | |
| Oggetto | : | 2023 | PR FinecoBank_Total Net Sales November |
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
NOVEMBER NET SALES, AUM CLOSE TO 75% SOLID DEPOSITS NET SALES, MORE THAN 100,000 NEW CLIENTS YTD
- November net sales at € 287 million. Asset under Management at € 214 million
- Net Sales YTD at € 7.6 billion. Asset under Management at € 2.5 billion
- FAM: retail net sales at € 238 million, assets at € 29.8 billion
- Brokerage: estimated revenues in November at € 15 million
Milan, December 11th , 2023
Total net sales in November stood at € 287 million, confirming Fineco as the reference platform for all financial needs of customers, from investment to banking, while the acceleration in new clients acquisition remains to the elevated levels of the previous. The asset mix recorded a solid contribution of Asset Under Management net sales, equal to € 214 million: Fineco Asset Management recorded € 238 million retail net sales, confirming its ability to catch outflows coming from insurance products (at € -206 million in November). Asset Under Custody net sales were equal to € -313 million, while deposits were positive at € 386 million, despite seasonality related to the usual tax payments by clients in the month (€ 560 million).
Estimated brokerage revenues equalled to around € 15 million in November: around 30% higher than monthly average in 2017/19. Since the beginning of the year, estimated revenues reached around € 172 million.
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Positive total net sales in November confirm the successful investment solutions put in place in the second half of the year, together with Fineco's ability to offer the appropriate tools to face all market phases. The solutions available to our personal financial advisors, among which Fineco Asset Management's ones, successfully meet long term customers' needs, while brokerage platform completes the offer. All this is enhanced by the strong acceleration of number of clients, which confirm the attractiveness of our business model".
figures in € million
| TOTAL NET SALES | NOV 2023 | NOV 2022 | JAN-NOV '23 | JAN-NOV '22 |
|---|---|---|---|---|
| Assets under management | 214.1 | 335.5 | 2,478.4 | 2,951.0 |
| Assets under custody | -313.4 | 760.7 | 8,491.1 | 4,866.6 |
| o/w Third party deposit current accounts | -23.2 | 106.6 | 290.6 | 208.1 |
| Direct deposits | 385.9 | -616.6 | -3,403.3 | 852.2 |
| TOTAL NET SALES | 286.6 | 479.6 | 7,566.2 | 8,669.8 |
| TOTAL FINANCIAL ASSETS | NOV 2023 | DEC 2022 | NOV 2022 | |
| Assets under management | 56,364.4 | 52,072.6 | 52,619.7 | |
| Assets under custody | 35,173.6 | 23,915.4 | 24,131.4 | |
| o/w Third party deposit current accounts | 651.9 | 361.2 | 299.7 | |
| Direct deposits | 27,166.6 | 30,569.9 | 30,347.5 | |
| TOTAL FINANCIAL ASSETS | 118,704.6 | 106,557.9 | 107,098.6 |
FAM, retail net sales at € 238 million, TFA at € 29.8 billion
In November, Fineco Asset Management retail net sales amounted to € 238 million, thanks in particular to the strong interest by clients for the new solutions with a cautious approach, characterized by a strong protection. Since the beginning of the year retail net sales were equal to € 2.9 billion, leading FAM assets as of November 30 th, 2023 at € 29.8 billion, of which € 19.2 billion retail class (+22% y/y) and € 10.6 billion institutional class (+1% y/y). The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 34% compared to 30% in November 2022.
Almost 11,400 new clients in November, more than 109k since the beginning of the year
In November, 11,388 new clients were acquired (+7% y/y), bringing new clients since the beginning of the year at 109,439 (+21% y/y). Total number of clients reached 1,556,383 as of November 30 th, 2023, increasing by 5% y/y.
Total Financial Assets above € 118 billion, Private Banking above € 53 billion
Total Financial Assets were equal to € 118.7 billion, +11% compared to € 107.1 billion in November 2022. In particular, TFA related to Private Banking were at € 53.5 billion compared to € 46.2 billion of the previous year (+16% y/y).
figures in € million
| PFA NETWORK NET SALES | NOV 2023 | NOV 2022 | JAN-NOV '23 | JAN-NOV '22 |
|---|---|---|---|---|
| Assets under management | 217.6 | 335.3 | 2,490.1 | 2,956.6 |
| Assets under custody | -275.1 | 537.7 | 6,346.8 | 3,474.9 |
| o/w Third party deposit current accounts | -12.4 | 58.4 | 177.9 | 102.2 |
| Direct deposits | 302.5 | -457.2 | -2,665.4 | 1,084.9 |
| TOTAL NET SALES | 245.1 | 415.8 | 6,171.5 | 7,516.4 |
| PFA NETWORK TFA | NOV 2023 | DEC 2022 | NOV 2022 | |
| Assets under management | 55,911.9 | 51,622.6 | 52,156.5 | |
| Assets under custody | 26,304.8 | 17,712.8 | 17,861.3 | |
| o/w Third party deposit current accounts | 354.9 | 176.9 | 146.9 | |
| Direct deposits | 21,211.6 | 23,876.8 | 23,774.2 | |
| TOTAL FINANCIAL ASSETS | 103,428.3 | 93,212.2 | 93,792.0 |
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