In August, a traditionally lazy month, the funding of Finecobank, the online bank that is leaving the orbit of Unicredit, slows down: last month the company led by Alessandro Foti confirmed the solidity of its portfolio, but recording net funding of 397 million euros, that is down 5,5% compared to the July figure, when funding had been 420 million, and above all up 11% on a year-on-year basis.
On the other hand, deposits in managed savings amounted to 123 million, up by +21% year on year. However, since the beginning of the year, net inflows amounted to 4,15 billion (-6,7% yoy), with assets under management reaching 1,6 billion while assets under administration stood at -142 million, and directed at 2,7 billion. Inflows since the beginning of the year through the network of financial advisors amounted to 3,6 billion. Total assets are now equal to 77,62 billion (+10% compared to August 2018 and December 2018).
Assets managed by Fineco Asset Management therefore amount to 12,3 billion, of which 7,1 billion in retail classes. Also since the beginning of the year 76.865 new customers were acquired, of which 7.287 new customers in the month of August alone. The number of total customers as at 31 August 2019 was approximately 1.330.500, up 6% compared to the same period of the previous year.
“Even the month of August – he commented Alessandro Foti, Chief Executive Officer and General Manager of Fineco – saw a very solid inflow, confirming the ability of our consultants to support customers and respond concretely to their needs, with a wide range of products and consultancy services. A particularly significant result because it was obtained in a month characterized by a seasonal component and which confirms healthy and sustainable growth, favored by a fair and transparent approach towards our customers".
