A quarter to remember for FinecoBank which closed the first three months of 2022 with a net profit of 123,6 million euros, up 30,5% year on year and 34,5% from the previous quarter. Double-digit growth (+23,2% yoy) for revenues, which as at 31 March 2022 amounted to 255,7 million euro against an operating result of 186,7 million (+29,2% on a yearly basis and +37% quarterly).
The financial margin grew by 43,1% on an annual basis and by 70,9% on the previous quarter, reaching 107,4 million euros, while net commissions increased by 9,8% to 118,5 million of Euro.
In terms of equity, The CET1 ratio is 19,31% compared to 18,8% at the end of 2021 and 26,51% a year earlier. The Tier 1 ratio and the Total capital ratio are equal to 29,99% compared to 29,63% as at 31 December 2021 and 38,40% a year earlier.
Going forward with the data, net adjustments to loans and provisions for guarantees and commitments amount to -0,8 million, the cost of risk equals 3 basis points.
Accounting equity consolidated amounted to 1,85 billion and recorded a positive change of 127,9 million compared to 31 December 2021, mainly attributable to the result achieved in the first quarter of 2022. Total Financial Assets amounted to 106,8 billion, up by 10,1, 2021% compared to March XNUMX.
Net income from investments amounted to -0,6 million, operating costs for the first three months amounted to 69 million (+9,3% per annum).
“The first quarter of the year closes with once again very solid results”, he commented the CEO and CEO Alessandro Foti.
In April the net funding of Fineco exceeded 1 billion euros (949,2 million in April 2021). The asset mix "records an extremely small share of deposits", the bank says, with direct deposits at around 47 million (-622 million a year earlier), while the managed component records positive flows of 370 million (from 904 million in April 2021) and that under administration stands at 617 million (667,5 million). In the first four months of the year, net inflows amounted to approximately €3,9 billion (there were €4,25 billion in the same period of 2021), of which €1,3 billion under management. Brokerage revenues in April are estimated at approximately 14 million, in a month characterized by particularly low volumes. Since the beginning of the year, brokerage revenues are estimated at around 74 million.
In Piazza Affari, after the publication of the quarterly, FinecoBank shares they earn almost 1% of their value at 11,86 euros.
