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FinecoBank
Earnings Release • Mar 6, 2024
4321_rns_2024-03-06_bea898b5-b144-4979-b93c-542a00f38ef4.pdf
Earnings Release
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| Informazione Regolamentata n. 1615-19-2024 |
Data/Ora Inizio Diffusione 6 Marzo 2024 10:39:20 |
Euronext Milan | ||
|---|---|---|---|---|
| Societa' | : | FINECOBANK | ||
| Identificativo Informazione Regolamentata |
: | 186934 | ||
| Utenza - Referente | : FINECOBANKN11 - Spolini |
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| Tipologia | : | REGEM | ||
| Data/Ora Ricezione | : | 6 Marzo 2024 10:39:20 | ||
| Data/Ora Inizio Diffusione | : | 6 Marzo 2024 10:39:20 | ||
| Oggetto | : | PR - FinecoBank_Total Net Sales February 2024 |
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Testo del comunicato
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PRESS RELEASE
FEBRUARY NET SALES CLOSE TO € 850 MILLION, WITH STRONG INVESTMENTS ACCELERATION IN NEW CLIENTS' ACQUISITION, +26% Y/Y
- February net sales at € 845 million. Asset under Management at € 269 million
- Net Sales YTD at € 1.4 billion. Asset under Management at € 348 million
- FAM: February retail net sales at € 160 million, assets at € 31.5 billion
- Brokerage: estimated revenues in February at € 17 million
Milan, March 6 th , 2024
Total net sales in February 2024 were particularly solid at € 845 million, confirming more and more Fineco as the reference platform for all financial needs, while the acceleration of the number of new customers remains very high in the month at +26% y/y. The asset mix highlights Asset under Management net sales at € 269 million, thanks to € 160 million retail net sales by Fineco Asset Management, and despite outflows from insurance products (€ -196 million). Asset under Custody were equal to € 647 million and deposits were at € -71 million.
Estimated brokerage revenues equalled to around € 17 million in February (+48% compared in the period 2017/2019). Since the beginning of the year, estimated revenues reached around € 33 million (+1% y/y).
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Robust total net sales in February, together with the increase of new customers confirm Fineco's ability to attract an audience significantly interested in investments, through in-house platforms and the continuous support of our financial advisors. Even in a phase characterized by strong attraction towards bond market, the solid asset under management reflects the growing increase of advanced advisory which allows to use the full range of asset classes. At the same time, the offer of Fineco Asset Management's investment solutions is more and more appreciated by our customers, while the efficiency of brokerage platform, constantly updated, delivers a further way to interact real time with markets."
figures in € million
| TOTAL NET SALES | FEB 2024 | FEB 2023 | JAN-FEB '24 | JAN-FEB '23 |
|---|---|---|---|---|
| Assets under management | 269.3 | 184.9 | 348.3 | 885.9 |
| Assets under custody | 647.3 | 1,044.9 | 1,522.4 | 1,364.9 |
| o/w Third party deposit current accounts | -14.7 | 38.3 | -18.5 | 107.2 |
| Direct deposits | -71.1 | -360.0 | -445.5 | -635.5 |
| TOTAL NET SALES | 845.4 | 869.8 | 1,425.3 | 1,615.3 |
| TOTAL FINANCIAL ASSETS | FEB 2024 | DEC 2023 | FEB 2023 | |
| Assets under management | 59,354.8 | 58,016.1 | 54,188.0 | |
| Assets under custody | 38,145.4 | 36,098.5 | 27,054.4 | |
| o/w Third party deposit current accounts | 611.3 | 629.8 | 468.5 | |
| Direct deposits | 27,996.4 | 28,441.8 | 29,934.4 | |
| TOTAL FINANCIAL ASSETS | 125,496.6 | 122,556.5 | 111,176.8 |
FAM, retail net sales at € 160 million, TFA at € 31.5 billion
In February, Fineco Asset Management recorded retail net sales equal to € 160 million, bringing the total since the beginning of the year at € 313 million. FAM assets as of February 29th, 2024 reached € 31.5 billion, of which € 20.6 billion retail class (+20% y/y) and € 10.9 billion institutional class (+4% y/y). The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 34.7% compared to 31.6% a year ago.
Total Financial Assets above € 125 billion, Private Banking at € 58 billion
Total Financial Assets were equal to € 125.5 billion, compared to € 111.2 billion in February 2023 (+13%). In particular, TFA related to Private Banking were at € 58.0 billion, compared to € 48.5 billion in February 2023 (+20%).
More than 12,000 new clients in February
In February, 12,486 new clients were acquired, growing by 26% y/y and leading to 26,715 new clients since the beginning of the year (+28% y/y). Total number of clients reached 1,581,343 as of February 29th, 2024.
| PFA NETWORK NET SALES | FEB 2024 | FEB 2023 | JAN-FEB '24 | JAN-FEB '23 |
|---|---|---|---|---|
| Assets under management | 272.9 | 184.2 | 357.0 | 883.0 |
| Assets under custody | 476.1 | 813.9 | 1,105.1 | 1,027.3 |
| o/w Third party deposit current accounts | -5.3 | 23.7 | -5.8 | 61.0 |
| Direct deposits | -75.7 | -255.8 | -314.7 | -542.3 |
| TOTAL NET SALES | 673.3 | 742.2 | 1,147.4 | 1,368.1 |
| PFA NETWORK TFA | FEB 2024 | DEC 2023 | FEB 2023 | |
| Assets under management | 58,886.5 | 57,551.2 | 53,723.1 | |
| Assets under custody | 28,530.6 | 27,020.9 | 20,107.0 | |
| o/w Third party deposit current accounts | 338.9 | 344.7 | 237.9 | |
| Direct deposits | 21,819.4 | 22,133.3 | 23,334.6 | |
| TOTAL FINANCIAL ASSETS | 109,236.5 | 106,705.5 | 97,164.7 |
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.1615-19-2024 | Numero di Pagine: 5 |
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