New record for FinecoBank. The company closed the first nine months of the year with a net profit of 257,2 million euros, up 4,4% year-on-year compared to the same period of 2020 (which was the best result ever). This excellent result was achieved despite the higher systemic contributions of -37,7 million euros (-28,9 million in the first nine months of 2020). Also revenues a marked improvement, with growth of +4,1%, amounting to 596,9 million euro driven by Investing (+25,1%) due to the effect of asset management volumes and the better contribution from Fineco Asset Management. In the wake of the accounts, the share reached a new all-time high on Tuesday 9 November, equal to 17,51 euros, to then drop to 17,01 (-0,27%).
Also in the first nine months of 2021 the collection reaches 7,9 billion (+23,8%), "confirming itself as solid, of high quality and obtained without resorting to short-term commercial policies", reports the same company in a note. The asset mix sees the managed component amounting to 5,4 billion (+107,5%) and the administered component to 1,6 billion (-43%), while direct deposits amounted to 0,9 billion (-7,7 .903%). In October alone, funding amounted to 22,2 million, (+2020% on the same month 501) with assets under management at 16 million, more than tripling year on year. The estimated revenues of the brokerage for the month are XNUMX million.
Il total financial assets, as at 30 September 2021, reached 103,6 billion, an increase of 21,8% compared to September 2020. In particular, the TFA attributable to customers in the segment private banking they amount to 45,9 billion, an increase of 33,4%. As at 30 September, loans to FinecoBank customers amounted to 5,62 billion euro, up by 24,2% compared to the beginning of the year and by 30,2% compared to the previous year. In addition, 86.938 new customers were acquired, up 30,7%. The number of total customers as at 30 September 2021 stood at 1.414.788.
“We close the first nine months of the year with strong growth in results, which confirm the solidity of the bank and once again the strength of the well-diversified and sustainable business model – commented Alexander Foti, CEO and general manager of FinecoBank -. In a context that sees the acceleration of digitization continue in all areas of society, the technological DNA that has distinguished Fineco since its inception places our integrated platform in an ideal situation to offer the most effective response to customers who are increasingly interested in investing . Finally, the collection data for October continue the trend of robust growth with a great impetus in asset management, highlighting the ability of our professionals to meet the planning needs of customers with advanced and innovative solutions".
