The season of accounts continues with FinecoBank. For the bank led by Alessandro Foti, 2022 was a record year, with all the fundamentals showing strong growth. It is no coincidence that Fineco has decided to increase the dividend from €0,39 to €0,49 per share. Purchases on title, which after the release of the 2022 accounts accelerates upwards (+3%), achieving one of the best performances of the FtseMib.
Fineco's 2022 accounts
In 2022 FinecoBank registered revenues of 948,1 millioni, up 17,8% on the previous year. The financial margin rose by 40,1% to 392,2 million, mainly thanks to the increase in market interest rates.
Le net commissions they amounted to 465,6 million, up by 3,3, attributable to the increase in net fee and commission income relating to the Investing area (+12%) thanks to the volume effect and the greater contribution of Fineco Asset Management. Commissions in the Banking area grew sharply to €56,2 million (+15,5%), while net commissions relating to the Brokerage area amounted to €100,5 million, down on the record year recorded in 2021 (-20,4%).
The result on trading, hedging and fair value amounted to 90,4 million (+20,4%) compared to 2021. Finally net income hit a new record, rising to 428,8 million (+22,8%).
Just in fourth quarter of the 2022 Fineco recorded revenues of €263,9 million, up on the previous quarter (+20%) and on the fourth quarter of 2021 (+27,1%), while . Net profit stood at €126,1 million, up 57,3% on the previous quarter and 37,2% on the fourth quarter of 2021.
Il book equity was €1,91 billion, with a positive change of €183,6 million compared to 31 December 2021, mainly attributable to the profit recognized as at 31 December 2022 (€428,5 million), net of the payment of dividends relating to the financial year 2021 (€237,9 million) and coupons on AT1 instruments (€19,8 million) partially offset by the increase in valuation reserves and other reserves (€12,6 million).
As of December 31, 2022 the Cet1 ratio is 20,82%, a figure which compares with 20,39% as at 30 September 2022 and with 18,80% as at 31 December 2021. The Tier 1 ratio and the Total capital ratio are equal to 31,37% as at 31 December 2022 compared to 31,11% as at 30 September 2022 and 29,63% as at 31 December 2021. The leverage ratio is 4,03% as at 31 December 2022 compared to 3,88% as at 30 September 2022 and 3,84% as at 31 December 2021.
Collection in 2022
In the year 2022 net collection amounted to 10,3 billion (10,7 billion in 2021). There managed collection amounted to 3,6 billion, the managed collection stood at 5,6 billion, while the direct collection amounted to 1,1 billion. As at 31 December 2022 Fineco Asset Management managed mass gain €25,9 billion: €15,8 billion in the retail component (+4,2% y/y) and €10,1 billion in the institutional component (+4,6% y/y). During 2022, 99.024 were acquired new customers. The number of total customers as at 31 December 2022 is 1.487.250.
In the month of January alone, net inflows amounted to 746 million, recording an increase of 11% compared to the same month last year.
CEO Foti: “Solid growth also in 2023
“The strong growth of the bank during 2022 reflects Fineco's ability to adapt perfectly to the new scenario, managing to benefit both from the rise in interest rates and from the solid drive towards investments highlighted by customers also from the January funding data - commented the CEO Alessandro Foti – The transparent approach by our consultants is in fact proving decisive in supporting the new trend that has emerged among savers, who are less influenced by volatility and more inclined than in the past to invest even in the most complex periods”.
“Added to this is the growing contribution of Fineco Asset Management, capable of proposing solutions suitable for the various market phases, and characterized by great efficiency and fair pricing – he added – A picture completed by the significant results of the business linked to brokerage, now in structural growth and which continues to increase its market share. Reasons that lead us to estimate solid growth also for the year that has just begun, as well as for the next ones”.
