Cash flow FinecoBank S.p.A.

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FBK

IT0000072170

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Jul. 08	DIARY - Italy to Aug. 31	RE
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Published financial data: FINECOBANK S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Interest Income On Loans	278M	251M	357M	778M	830M
Interest Income On Investments	108K	199K	206K	226K	180K
Interest Income, Total	278M	251M	357M	779M	830M
Interest On Deposits	10.65M	7.45M	19.72M	94.61M	121M
Interest Expense, Total	10.65M	7.45M	19.72M	94.61M	121M
Net Interest Income	268M	243M	338M	684M	709M
Income From Trading Activities	87.68M	71.64M	77.97M	66.27M	79.61M
Gain (Loss) on Sale of Loans	7.24M	29.24M	49.1M	208K	708K
Gain (Loss) on Sale of Invest. & Securities - (Rev)	991K	2.84M	94K	826K	1.42M
Total Other Non Interest Income	407M	453M	479M	482M	523M
Non Interest Income, Total	503M	557M	606M	550M	605M
Revenues Before Provison For Loan Losses	771M	800M	943M	1.23B	1.31B
Provision For Loan Losses	9.57M	594K	5.18M	3.1M	539K
Total Revenues	761M	800M	938M	1.23B	1.31B
Salaries And Other Employee Benefits	94.5M	104M	112M	122M	132M
Amort. of Goodwill & Intang. Assets	5.76M	6.69M	6.61M	6M	4.65M
Occupancy Expense	19.62M	19.52M	20.25M	21.07M	21.14M
Selling General & Admin Expenses, Total	168M	161M	181M	182M	201M
Total Other Non Interest Expense	10.96M	11.61M	11.03M	24.73M	14.51M
Non Interest Expense, Total	298M	302M	332M	356M	374M
EBT, Excl. Unusual Items	463M	497M	607M	875M	939M
Restructuring Charges	-	-	-	-	-
Total Merger & Related Restructuring Charges	-	-	-	-	-
Asset Writedown	-127K	-39K	-74K	-388K	-63K
Legal Settlements	-1.63M	-2.83M	-2.16M	-2.5M	-123K
Other Unusual Items	-	-40K	-	-	-
EBT, Incl. Unusual Items	461M	494M	604M	872M	939M
Income Tax Expense	138M	114M	176M	263M	287M
Earnings From Continuing Operations	324M	381M	429M	609M	652M
Net Income to Company	324M	381M	429M	609M	652M
Net Income - (IS)	324M	381M	429M	609M	652M
Net Income to Common Incl Extra Items	324M	381M	429M	609M	652M
Net Income to Common Excl. Extra Items	324M	381M	429M	609M	652M
Per Share Items
Net EPS - Basic	0.53	0.62	0.7	1	1.07
Basic EPS - Continuing Operations	0.53	0.62	0.7	1	1.07
Basic Weighted Average Shares Outstanding	609M	610M	610M	610M	611M
Net EPS - Diluted	0.53	0.62	0.7	1	1.07
Diluted EPS - Continuing Operations	0.53	0.62	0.7	1	1.07
Diluted Weighted Average Shares Outstanding	610M	611M	611M	612M	612M
Normalized Basic EPS	0.48	0.51	0.62	0.9	0.96
Normalized Diluted EPS	0.47	0.51	0.62	0.89	0.96
Dividend Per Share	0.53	0.39	0.49	0.69	0.74
Payout Ratio	8.21	90.26	60.28	52.86	69.31
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
Effective Tax Rate - (Ratio)	29.83	23	29.1	30.17	30.56
Current Domestic Taxes	110M	137M	164M	252M	-
Current Foreign Taxes	7.57M	10.59M	15.04M	17.15M	-
Total Current Taxes	118M	148M	179M	269M	290M
Total Deferred Taxes	19.72M	-37.05M	-2.81M	-5.81M	-3.19M
Normalized Net Income	289M	311M	379M	547M	587M
Non-Cash Pension Expense	40K	32K	49K	158K	143K
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	5.04M	5.7M	5M	4.78M	5.77M
Total Stock-Based Compensation	5.04M	5.7M	5M	4.78M	5.77M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.76B	1.46B	1.47B	2.27B	1.96B
Investment Securities, Total	7.75B	5.69B	3.84B	2.86B	2.66B
Trading Asset Securities, Total	91.45M	146M	1.44B	721M	556M
Total investments	7.84B	5.83B	5.28B	3.58B	3.22B
Gross Loans	21.19B	25B	27.39B	24.89B	27.12B
Allowance For Loan Losses	-42.04M	-38.51M	-41.58M	-38.11M	-36.96M
Net Loans	21.15B	24.96B	27.35B	24.85B	27.08B
Gross Property Plant And Equipment	226M	237M	249M	259M	279M
Accumulated Depreciation	-76.4M	-87.94M	-103M	-112M	-133M
Net Property Plant And Equipment	150M	149M	146M	146M	146M
Goodwill	89.6M	89.6M	89.6M	89.6M	89.6M
Other Intangibles, Total	39.6M	39.08M	36.79M	34.46M	35.24M
Investment in Real Estate	1.87M	1.76M	-	-	-
Accrued Interest Receivable	65.43M	93.13M	97.39M	103M	113M
Other Receivables	15.61M	521M	1.11B	1.63B	1.27B
Restricted Cash	272M	298M	311M	269M	283M
Other Current Assets, Total	255M	347M	291M	254M	387M
Deferred Tax Assets Long-Term (Collected)	8.15M	42.97M	46.58M	50M	53.25M
Deferred Charges Long-Term	6.36M	5.24M	3.69M	2.81M	2.05M
Other Long-Term Assets, Total	100M	26.98M	31.59M	35.6M	37.3M
Total Assets	31.76B	33.87B	36.27B	33.32B	34.69B
Liabilities
Accrued Expenses, Total	92.17M	132M	108M	121M	144M
Interest Bearing Deposits	29.03B	29.58B	30.55B	28.4B	29.64B
Total Deposits	29.03B	29.58B	30.55B	28.4B	29.64B
Short-Term Borrowings	395M	212M	987M	218M	344M
Current Portion of Leases	5.04M	10.54M	11.24M	11.1M	11.02M
Long-Term Debt	-	1.53B	498M	809M	810M
Long-Term Leases	61.17M	54.79M	52.11M	50.28M	47.15M
Current Income Taxes Payable	10.2M	35.86M	42.63M	86.71M	19.52M
Other Current Liabilities - (Bank / Utility Template)	275M	339M	1.89B	1.15B	990M
Unearned Revenue Non Current	9.73M	17.89M	19.57M	19.2M	17.62M
Pension & Other Post Retirement Benefits	4.92M	5.03M	3.94M	4.38M	4.36M
Deferred Tax Liability Non-Current	3.75M	-	-	-	-
Other Non Current Liabilities	184M	220M	201M	251M	276M
Total Liabilities	30.07B	32.14B	34.36B	31.12B	32.3B
Common Stock, Total	201M	201M	201M	202M	202M
Additional Paid In Capital	1.93M	1.93M	1.93M	1.93M	1.93M
Retained Earnings	957M	995M	1.17B	1.45B	1.65B
Treasury Stock	-1.19M	-1.44M	-1.71M	-1.24M	-1.08M
Comprehensive Income and Other	528M	531M	544M	539M	532M
Total Common Equity	1.69B	1.73B	1.91B	2.19B	2.39B
Total Equity	1.69B	1.73B	1.91B	2.19B	2.39B
Total Liabilities And Equity	31.76B	33.87B	36.27B	33.32B	34.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	609M	610M	610M	611M	611M
ECS Total Common Shares Outstanding	609M	610M	610M	611M	611M
Book Value / Share	2.77	2.83	3.13	3.59	3.91
Tangible Book Value	1.56B	1.6B	1.78B	2.07B	2.26B
Tangible Book Value Per Share	2.56	2.62	2.92	3.39	3.71
Total Debt	461M	1.81B	1.55B	1.09B	1.21B
Net Debt	-1.59B	-64.37M	-1.57B	-2.1B	-1.53B
Equity Method Investments, Total	-	1.29M	1.72M	1.65M	1.67M
Full Time Employees	1.26K	1.3K	1.34K	1.38K	1.45K
Part Time Employees	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	324M	381M	429M	609M	652M
Depreciation, Depletion & Amortization	19.62M	19.52M	20.25M	21.07M	21.14M
Amortization of Goodwill and Intangible Assets - (CF)	195K	148K	87K	32K	6K
Total Depreciation, Depletion & Amortization	19.81M	19.67M	20.34M	21.1M	21.14M
Amortization of Deferred Charges, Total	5.56M	6.54M	6.52M	5.96M	4.64M
(Gain) Loss on Sale of Investments - (CF)	2.37M	-853K	8.94M	6.33M	-125K
Total Asset Writedown	10.62M	3.45M	7.35M	5.73M	3.25M
Provision for Credit Losses	-	-	-	-	-
Change in Trading Asset Securities	168M	95.4M	21.6M	1.84M	-13.67M
Change in Other Net Operating Assets (Collected)	353M	-900M	-349M	306M	-559M
Other Operating Activities	216M	180M	125M	181M	46.75M
Cash from Operations	1.1B	-215M	269M	1.14B	155M
Capital Expenditure	-21.52M	-8.36M	-9.07M	-11.89M	-13.21M
Sale of Property, Plant, and Equipment	1K	-	1.68M	38K	-
Purchase / Sale of Intangible Assets	-7.86M	-6.18M	-4.31M	-3.67M	-5.42M
Investment in Marketable and Equity Securities, Total	-	-1.32M	-700K	-195K	-1K
Cash from Investing	-29.38M	-15.86M	-12.4M	-15.72M	-18.64M
Issuance of Common Stock	6.37M	-	-	640K	282K
Repurchase of Common Stock	-	-136K	-201K	-	-
Common Dividends Paid	-26.55M	-344M	-258M	-322M	-452M
Common & Preferred Stock Dividends Paid	-26.55M	-344M	-258M	-322M	-452M
Net Increase (Decrease) in Deposit Accounts - (CF)	-	-	-	-	-
Cash from Financing	-20.18M	-344M	-259M	-321M	-452M
Foreign Exchange Rate Adjustments	-12.52M	24.6M	7.36M	-4.12M	12.27M
Net Change in Cash	1.04B	-550M	5.54M	796M	-303M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.08	1.16	1.22	1.75	1.92
Return On Equity %	21.08	22.3	23.56	29.68	28.46
Return on Common Equity	21.08	22.3	23.56	29.68	28.46
Shareholders Value Added	140M	176M	210M	363M	377M
Margin Analysis
SG&A Margin	36.91	35.36	33.29	26.22	26.82
Net Interest Income / Total Revenues %	35.18	30.43	36	55.58	53.98
EBT Excl. Non-Recurring Items Margin %	60.8	62.19	64.65	71.11	71.54
Income From Continuing Operations Margin %	42.51	47.61	45.67	49.49	49.67
Net Income Margin %	42.51	47.61	45.67	49.49	49.67
Net Avail. For Common Margin %	42.51	47.61	45.67	49.49	49.67
Normalized Net Income Margin	38	38.87	40.41	44.44	44.71
Asset quality
Nonperforming Loans / Total Loans %	0.12	0.1	0.09	0.1	0.1
Nonperforming Loans / Total Assets %	0.08	0.07	0.07	0.07	0.08
Nonperforming Assets / Total Assets %	0.08	0.07	0.07	0.07	0.08
NPAs / Loans and OREO	0.12	0.1	0.09	0.1	0.1
NPAs / Equity	1.51	1.42	1.32	1.1	1.16
Allowance for Credit Losses / Net Charge-offs %	1.76K	1.06K	2.41K	720.92	1.99K
Allowance for Credit Losses / Nonperforming Loans %	164.94	156.91	164.79	158.16	133.34
Allowance for Credit Losses / Total Loans %	0.2	0.15	0.15	0.15	0.14
Provision for Loan Losses / Net Charge-offs %	400.88	16.36	300.35	58.61	28.98
Capital And Funding
Total Average Common Equity / Total Average Assets %	5.14	5.2	5.19	5.9	6.74
Total Average Equity / Total Average Assets %	5.14	5.2	5.19	5.9	6.74
Total Equity + Allowance for Loan Losses / Total Loans %	8.16	7.06	7.13	8.97	8.95
Gross Loans / Total Deposits %	73	84.5	89.68	87.64	91.52
Net Loans / Total Deposits %	72.85	84.37	89.54	87.5	91.39
Tier 1 Capital Ratio %	41.68	29.63	31.37	34.91	35.78
Total Capital Ratio %	41.68	29.63	31.37	34.91	35.78
Core Tier 1 Capital Ratio	28.56	18.8	20.82	24.34	25.91
Tier 2 Capital Ratio	0	0	0	0	0
Coverage Ratio	164.94	156.91	164.79	158.16	133.34
Interbank Ratio	6.93K	2.97K	237.88	352.67	293.81
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	44.31	67.37	31.64	10.22	8.74
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	-5.37	-9.12	38.8	102.52	3.64
Non Interest Income, 1 Yr. Growth %	36.6	10.72	8.75	-9.23	10.02
Provision For Loan Losses, 1 Yr. Growth %	-277.93	-93.79	772.73	-40.24	-82.6
Total Revenues, 1 Yr. Growth %	15.94	5.05	17.33	31.17	6.71
Earnings From Cont. Operations, 1 Yr. Growth %	12.21	17.66	12.55	42.15	7.09
Net Income, 1 Yr. Growth %	12.21	17.66	12.55	42.15	7.09
Normalized Net Income, 1 Yr. Growth %	19.83	7.45	22.04	44.13	7.36
Diluted EPS Before Extra, 1 Yr. Growth %	12.05	17.55	12.52	42.08	7.02
Dividend Per Share, 1 Yr. Growth %	-	-26.42	25.64	40.82	7.25
Gross Loans, 1 Yr. Growth %	24.98	19.4	9.6	-9.14	8.97
Allowance For Loan Losses, 1 Yr. Growth %	12	-8.41	7.97	-8.34	-3.01
Net Loans, 1 Yr. Growth %	25.01	19.46	9.6	-9.14	8.98
Non Performing Loans, 1 Yr. Growth %	0.61	-3.72	2.8	-4.5	15.05
Non Performing Assets, 1 Yr. Growth %	0.61	-3.72	2.8	-4.5	15.05
Total Assets, 1 Yr. Growth %	13.32	6.65	7.09	-8.14	4.12
Total Deposits, 1 Yr Growth %	13.19	5.36	-0.23	-7.02	4.35
Tangible Book Value, 1 Yr. Growth %	24.1	2.58	11.63	16.06	9.36
Common Equity, 1 Yr. Growth %	22.04	2.35	10.63	14.88	8.87
Total Equity, 1 Yr. Growth %	22.04	2.35	10.63	14.88	8.87
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	-1.99	-7.27	12.31	67.66	44.87
Non Interest Income, 2 Yr. CAGR %	20.86	22.98	9.73	-0.64	-0.06
Provision For Loan Losses, 2 Yr. CAGR %	67.61	-66.77	-26.4	128.37	-67.76
Total Revenues, 2 Yr. CAGR %	10.83	10.36	11.02	24.05	18.31
Earnings From Cont. Operations, 2 Yr. CAGR %	15.82	14.9	15.08	26.49	23.38
Net Income, 2 Yr. CAGR %	15.82	14.9	15.08	26.49	23.38
Normalized Net Income, 2 Yr. CAGR %	14	13.47	14.48	32.69	24.39
Diluted EPS Before Extra, 2 Yr. CAGR %	15.69	14.77	15.01	26.44	23.42
Dividend Per Share, 2 Yr. CAGR %	32.26	-	-3.85	33.01	22.89
Gross Loans, 2 Yr. CAGR %	29.62	21.42	14.39	-0.21	-0.5
Allowance For Loan Losses, 2 Yr. CAGR %	-	1.28	-0.56	-0.52	-5.71
Net Loans, 2 Yr. CAGR %	29.49	21.46	14.42	-0.21	-0.49
Non Performing Loans, 2 Yr. CAGR %	3.2	-1.58	-0.51	-0.91	4.82
Non Performing Assets, 2 Yr. CAGR %	3.2	-1.58	-0.51	-0.91	4.82
Total Assets, 2 Yr. CAGR %	13.31	9.93	6.87	-0.82	-2.2
Total Deposits, 2 Yr CAGR %	14.6	7.4	4.3	-3.69	-1.5
Tangible Book Value, 2 Yr. CAGR %	33.25	12.83	7.01	13.83	12.66
Common Equity, 2 Yr. CAGR %	31.5	11.76	6.41	12.74	11.83
Total Equity, 2 Yr. CAGR %	31.5	11.76	6.41	12.74	11.83
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	0.39	-4.43	6.08	36.7	42.82
Non Interest Income, 3 Yr. CAGR %	17.66	17.38	18.04	3.01	2.79
Provision For Loan Losses, 3 Yr. CAGR %	22.87	-44.13	-1.22	-31.33	-3.19
Total Revenues, 3 Yr. CAGR %	10.23	8.87	12.64	17.37	17.98
Earnings From Cont. Operations, 3 Yr. CAGR %	14.75	16.43	14.11	23.47	19.66
Net Income, 3 Yr. CAGR %	14.75	16.43	14.11	23.47	19.66
Normalized Net Income, 3 Yr. CAGR %	12.97	11.77	16.24	23.65	23.64
Diluted EPS Before Extra, 3 Yr. CAGR %	14.62	16.3	14.01	23.4	19.68
Dividend Per Share, 3 Yr. CAGR %	22.97	8.78	-	9.19	23.8
Gross Loans, 3 Yr. CAGR %	120.48	25.61	17.34	5.94	2.76
Allowance For Loan Losses, 3 Yr. CAGR %	8.92	-	3.46	-3.22	-1.36
Net Loans, 3 Yr. CAGR %	121.56	25.55	17.37	5.96	2.76
Non Performing Loans, 3 Yr. CAGR %	1.59	0.84	-0.14	-1.86	4.15
Non Performing Assets, 3 Yr. CAGR %	1.59	0.84	-0.14	-1.86	4.15
Total Assets, 3 Yr. CAGR %	12.44	11.05	8.98	1.61	0.8
Total Deposits, 3 Yr CAGR %	13.24	10.2	6	0.38	-1.08
Tangible Book Value, 3 Yr. CAGR %	34.92	22.13	12.43	9.95	12.32
Common Equity, 3 Yr. CAGR %	32.1	20.96	11.38	9.16	11.43
Total Equity, 3 Yr. CAGR %	32.1	20.96	11.38	9.16	11.43
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	2.15	-0.49	5	19.67	20.16
Non Interest Income, 5 Yr. CAGR %	10.42	12.68	14.42	9.81	10.44
Provision For Loan Losses, 5 Yr. CAGR %	7.35	-32.4	0.1	-1.88	-36.88
Total Revenues, 5 Yr. CAGR %	7.09	7.7	10.55	14.71	14.87
Earnings From Cont. Operations, 5 Yr. CAGR %	11.11	12.44	14.88	20.35	17.73
Net Income, 5 Yr. CAGR %	11.11	12.44	14.88	20.35	17.73
Normalized Net Income, 5 Yr. CAGR %	9.26	9.69	13.57	19.7	19.45
Diluted EPS Before Extra, 5 Yr. CAGR %	11.32	12.24	14.77	20.26	17.69
Dividend Per Share, 5 Yr. CAGR %	15.76	6.85	11.45	17.89	-
Gross Loans, 5 Yr. CAGR %	93.08	89.75	69.17	14.57	9.85
Allowance For Loan Losses, 5 Yr. CAGR %	7.85	6.42	5.03	-	-0.31
Net Loans, 5 Yr. CAGR %	94.45	90.76	69.69	14.53	9.87
Non Performing Loans, 5 Yr. CAGR %	0.23	1.87	0.74	0.13	1.82
Non Performing Assets, 5 Yr. CAGR %	0.23	1.87	0.74	0.13	1.82
Total Assets, 5 Yr. CAGR %	11.62	10.04	10.18	6.14	4.36
Total Deposits, 5 Yr CAGR %	13.2	9.81	8.85	5.14	2.93
Tangible Book Value, 5 Yr. CAGR %	23.83	22.3	22.98	18.74	12.52
Common Equity, 5 Yr. CAGR %	21.67	20.44	21.16	17.6	11.56
Total Equity, 5 Yr. CAGR %	21.67	20.44	21.16	17.6	11.56