Finecobank under the spotlight in Piazza Affari, with the stock in fifth gear and earning 6% of its value at 12,45 euros per share. A performance that becomes even more positive if one takes into account the fact that, on the contrary, the Ftse Mib loses 1% and drops below 28 thousand points in a context of widespread sales after the run made by the price lists in recent weeks.
To push purchases on Fineco are collection data published this morning which shows that, despite the decline in June, for the third consecutive year the bank led by Alessandro Foti exceeded the threshold of 5 billion in the first half.
The collection of Finecobank
In June, Fineco's net inflows amounted to 765 million euro. A figure - also favored by the placement of the Btp Valore and assets under management of 458 million (equal to 60% of the total), underlines the bank - which nonetheless represents a decrease from the previous month, when the asset management company had achieved positive net inflows of 867 million while in June 2022 it had been 851 million.
In detail, in June, the asset mix sees the administered component at 765 million. The figure is supported by the retail collection of Fineco Asset Management, equal to 409 million, which offset the outflows from insurance (a further decrease to -107 million). There direct collection is equal to -459 million. THE brokerage revenue are estimated at 17 million for the month of June, a figure up by about 50% compared to the average revenues between 2017 and 2019. Since the beginning of the year, brokerage revenues are estimated at around 97 million. In the first half of 2023, 20,1 million executed orders were recorded.
Fineco also reported that the total assets is equal to 115,9 billion, +13% compared to June 2022. In particular, private banking assets amount to 51,6 billion compared to 43,3 billion a year ago (+19%).
Sources: "Particularly positive data, important contribution from Fineco Asset Management"
Alessandro Foti, CEO and general manager of the bank declared "Fineco closes the first half of 2023 with particularly positive collection data and solid, even more significant because they were obtained in the absence of short-term promotional offers linked to interest rates. The bank's business model therefore proves to be attractive for an increasing number of customers, interested in using the potential of the investment platform in synergy with the advisory network. The contribution from Fineco AM it allows further creation of value, thanks to the innovative solutions proposed by our subsidiary which proves to be able to meet the new needs of customers with respect to the evolution of the markets”.
