The net inflow of Finecobank since the beginning of the year it was equal to 1.659 million (+20% y/y). Assets under management reached 728 million (-14% compared to the same period of 2017) equal to 44% of total net deposits, assets under administration stood at 248 million while direct deposits amounted to 683 million. The mix of the collection confirmed to be consistent with the greater volatility recorded on the markets. Since the beginning of the year, funding in "Guided products & services" has reached 692 million, bringing the impact of the latter on the total AuM to 65% compared to 59% in March 2017 and 64% in December 2017. Funding since the beginning of the year through the network of personal financial advisors was equal to 1.530 million, up by 23% compared to the same period of 2017. Very solid net inflows by the bank were confirmed in March alone, equal to 638 million (-3% yoy to).
Assets under management, on the other hand, amounted to 330 million, assets under administration amounted to 182 million and direct assets to 126 million. Total assets amounted to €68.050 million (+1% vs December 2017 and +9% y/y). In particular, total assets attributable to customers in the Private Banking segment, i.e. with assets exceeding €500.000, amounted to €6.109 million, up 12% y/y. The number of total customers as of March 31, 2018 is almost 1.220.000, up 7% compared to the same period of the previous year. Since the beginning of the year, 29.922 new customers have been acquired, of which 9.299 in the month of March alone.
Alessandro Foti, Chief Executive Officer and General Manager of Fineco, declares: “Inflows in the first quarter recorded strong growth compared to 2017, favored not only by a diversified business model but also by an offer capable of responding to all the financial needs of customers. The first months of the year, characterized by an increase in volatility compared to 2017, in fact confirmed an extremely solid result for Fineco. In this market context, the role of our network of consultants and private bankers becomes even more central, which continues to support customers in their financial planning needs also thanks to the provision of technologically advanced tools to facilitate their work".
