FinecoBank closes the January-September period with the best result ever on the former nine months of the year. In fact, adjusted net income reached €198,1 million, up 10,8% on the same period last year. The figure excludes gross contributions of €4,4 million to the voluntary scheme of the interbank deposit protection fund (€1,6 million in the first nine months of 2018). The net book result rose by 9,8% to 195,2 million.
Just in third quarter adjusted profit increased 13,3% to $60,8 million.
Il political consensus over the nine months it was for a net profit of 194 million while over the three months it was 59,9 million euro.
Going back to nine months, i revenues rose by 5,2% to 489 million, against operating costs of 185,2 million (+1,3%), for a cost/income ratio down to 37,9%.
On the side patrimonial, the consolidated Cet1 ratio is 17,37% (from 17,84% at the end of June).
as to collection, 2019 new customers were acquired in the first nine months of 87.467. The number of total customers is approximately 1.338.000, up by 6,4% compared to the same period of the previous year.
“Fineco closes the first 9 months of the year with excellent results, obtained without increasing the bank's risk profile – comments the CEO Alexander Foti – and with significant growth in all business areas which once again confirms the ability to generate a well-diversified and balanced revenue stream. In a period of strong attention to the issue of liquidity, asset management remains one of the most important growth and development focuses for Fineco: the constant commitment to transparency contributes to this, as demonstrated by the appreciation for the clear Mifid reporting and immediate".
Foti highlights in particular “the results of Fineco Asset Management which are continuously growing, month after month: the offer of increasingly advanced investment solutions, such as the launch of decumulation funds and multi-thematic funds, fits perfectly with the capacity of the our network to follow the needs of customers as quickly and effectively as possible".
Around 16 pm, the FinecoBank share on the Stock Exchange gains 1,3%, to 10,82 euros.
