Since the beginning of 2015, FinecoBank has recorded total net inflows of €4.383 million, an increase of 30% compared to the same period of 2014. This was announced by the online bank of the Unicredit group. In November, net inflows amounted to €294 million (-3% y/y). In a year-on-year comparison, around €30 million was recorded on 130 November relating to the payment of taxes by customers, unlike 2014 in which this payment took place with a value date of 1 December. Net of this effect, monthly net funding confirms a growth trend of 39%. In November, the total amount of taxes paid by customers amounted to €246 million, confirming that Fineco is used by its customers as the main bank.
Assets under management reached €2.364 million at the end of November, while assets under administration stood at €615 million and direct deposits at €1.404 million. A particularly significant result should be noted in the Private Banking segment: in just 4 years total assets rose from €9,7 billion to €20,2 billion at the end of November. An important growth favored by advanced consultancy services, which places Fineco among the most important Italian players in this segment. Total net inflows through the network of financial advisors amounted to €3.997 million (up 30% compared to the same period of 2014). Over 1.039.000 total customers at the end of November: 100 new customers were acquired by the beginning of the year, an increase of 8% compared to the period January-November 2014.
“The data further confirms the full solidity of the structural trends underway in the Italian company - commented Alessandro Foti, Chief Executive Officer and General Manager of Fineco - with an ever-increasing role of consultancy and digitization. In this context, the Private Banking sector is experiencing an evolution that FinecoBank has taken decisively, as evidenced by the strong growth in assets in this segment over the last four years. The reason for our strengthening in this area is the combination of advanced and transparent consultancy together with technologically advanced services, priority elements for an increasingly demanding clientele."
