Net profit and revenues up sharply for FinecoBank which has proposed a dividend of 2017 euro for 0,28 per share, unchanged from last year, with a pay-out ratio of 81%. 2018 also opens with a bang, i.e. with positive inflows of 412,2 million (+55,3% compared to January 2017), after the record reached last year. The performance in the first month of 2018 can be attributed to the good performance of assets under management (+88,5% y/y at €252,8 million) and direct deposits (€328,1 million against redemptions of €153,5 million in January 2017 ), which more than offset the outflows of assets under administration (-€168,7 million against subscriptions of €284,8 million in January 2017).
The bank led by Alessandro Foti closed 2017 with an adjusted net result amounting to 218,5 million euro, up 8,9% on the previous year, further improving its historical record.
Il management result of the Milanese institute recorded an increase of 11,4% reaching 353,4 million, while the revenues rose to 586,7 million, up 7,9% on 2016, supported by the investing area (+12,9% year on year), with management fees up 14,7% thanks to the improvement in asset mix and productivity of the network and banking area (+11,1%). – In 2017 i operating costs they stood at an increase of 3% year on year to 233,2 million, but as indicated by the institute they remain under control. Down the cost income ratio, settling at 39,8%, 1,9 percentage points less than in 2016.
Speaking of the results related to the solo fourth quarter of the 2017, the revenues they grew by 12% compared to the last 3 months of the previous year, reaching 155,8 million (driven by the investing area and the banking area) and beating analysts' forecasts of 151,8 million. L'Net income it settled at 61,6 million, +11,9% on the fourth quarter of 2016 and against the 64 million consensus.
Above expectations interest margin, equal to 70 million (+10,4%) thanks to increasing volumes and a greater incidence of lending. Analysts had expected 68 million.
As of December 31st mass gain they grew by 11,6% compared to 2016, reaching 67,2 billion, as did the balance of assets under management (+15,6% to 33,1 billion) and that of assets under administration (+8,3% to 14,2, XNUMX billion).
La direct collection recorded a 7,7% year-over-year increase to $19,9 billion thanks to continued growth in new client base and transactional deposits. Yet another rise also for assets attributable to private banking customers, with assets settling at 25,9 billion (+16%).
In 2017 the rclear acceptance it reached 5,958 billion, with an increase of 18% on 2016.
"We close the year once again with record figures, demonstrating the sustainability of our growth and a well-diversified business model", this is the comment by the managing director Alessandro Foti, underlining that FinecoBank looks "with particular optimism to the coming months and in particular to the challenges posed by MiFID II". Foti also explained that "the first collection data of 2018 continue the trend already seen last year, with particularly positive flows on our advanced consultancy services".
In fact, the month of January closed with net inflows of 412 million (+55% year on year) with financial assets reaching a maximum of 68,12 billion (+13%) with over 1,208 million customers ( +7% year on year).
Finally, FinecoBank confirmed its solid capital position with a Cet1 ratio (transitional) to 20,77% as at 31 December 2017
At Piazza Affari the FinecoBank share it currently records a drop of 3,36% to 9,422 euros against a red FtseMib of 2,3%.
