Fineco Bank closed the third quarter of the year with a net profit up 53% to 35,4 million against total revenues of 106,7 million (+23,7%).
"It is a result substantially in line with previous periods and particularly significant considering the high seasonality factor linked to the summer months which generally characterizes the third quarter", underlines the multi-channel bank controlled by Unicredit in a note.
Fineco Bank, which has been on the stock market since 2 July, also announced that it had recorded net inflows of almost 300 million in October. The figure brings the budget since the beginning of the year to 3,065 billion, well above the goal of exceeding 2,5 billion in 2013.
“Net of unforeseeable events, we expect another two months at a level,” said CEO Alessandro Foti, without providing new guidance for the current year or even for the next. "The approach for 2015 remains the same", he added, underlining that Fineco Bank's business will continue to benefit from favorable trends such as the propensity of Italians towards advanced forms of savings and growing digitalisation.
No anticipation of the expected payout for the current year but the CEO assured that, being a company with interesting growth prospects, good profitability and "capital light", "it is able to have an attractive dividend policy for own shareholders".
