Six-monthly accounts growing for FinecoBank. In the first six months of 2019, the bank led by Alessandro Foti recorded a net profit adjusted for non-recurring items equal to 137,3 million euros, showing a 9,7% increase over a year ago.
Total adjusted revenues grew by 3,8% to €323,5 million driven by the Investing area (+15,8% y/y) with management fees up 12,2% thanks to the contribution of Fineco Asset Management (fully operational since July 2018), the greater incidence of Guided Products and Services and the continuous improvement of network productivity.
Positive contribution from the Banking area (+3,4% y/y), supported by the increase in transactional liquidity and the higher incidence of lending activity. The contribution of Brokerage is down (-15,1% y/y) due to lower market volatility and the new regulations in force.
In the first half of 2019 deposits amounted to 3,334 billion (-7% y/y), confirming its solidity, of high quality and obtained without resorting to short-term commercial policies. The company also indicates that 59.405 new customers were acquired in the first six months of the year, while the number of total customers is approximately 1.318, up 6% compared to the same period of the previous year.
“We are very satisfied – he commented Alessandro Foti, managing director and general manager of FinecoBank – of the results for the first half of the year, which testify to Fineco's ability to grow in all market conditions. Since the beginning of the year we have continued to innovate our product offering in all areas of the Bank's activity, from asset management to banking and trading, remaining firmly anchored to the transparency and efficiency that have always characterized Fineco. The results of funding in deposits in the month of July, net of the effects linked to contingent situations, are in line with the expected levels. Customers confirm their appreciation for the one stop solution proposed by Fineco which, through a single account, allows access to banking, credit, trading and investment services through advanced transactional and advisory platforms".
