FinecoBank, December net inflows at an all-time high

(Alliance News) - FinecoBank Spa reported Tuesday that net inflows hit an all-time high of EUR1.59 billion in December, up 13 percent from EUR1.4 billion in the same period a year ago.

The managed component stood at EUR628 million, the administered component at EUR739 million, and the direct component at EUR222 million.

For the whole of 2022, net inflows exceeded the EUR10 billion mark for the second year in a row, with the managed component at EUR3.6 billion and the administered at EUR5.6 billion.

Brokerage revenues in December are estimated at EUR11 million, up 8.0 percent from the average for December in the 2017/2019 period, confirming solidity in a month marked by the usual seasonality and particularly low volumes, and bringing the estimated revenues since the beginning of the year to around EUR191 million.

In 2022, 43.7 million orders executed were recorded.

Fineco Asset Management, in December recorded with approximately EUR433 million in retail inflows the best monthly result over 2022.

Total assets amounted to EUR106.6 billion, compared to EUR107.9 billion in December 2021. In particular, the

Private Banking assets stood at EUR45.3 billion.

In December, 8,531 new clients were acquired and the total number as of December 31, 2022 stood at about 1.5 million.

Alessandro Foti, chief executive officer and general manager of Fineco, said, "In a year characterized by substantial uncertainty in the financial markets, the exceptionally robust December funding figure significantly confirms the tendency of clients to continue and in many cases accelerate their investment path."

"This approach, evidenced throughout 2022, was fostered both by the ability of our advisors to support savers in a particularly complex phase, and by a broad and diversified product offering proposed by Fineco Asset Management. New passive solutions and protected funds have enabled Fineco clients to reposition their portfolios efficiently, protecting their savings from inflation and paving the way for new growth opportunities in the year ahead," he concluded.

FinecoBank's stock trades in the red by 0.7 percent at EUR16.52 per share.

By Chiara Bruschi, Alliance News reporter

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