FinecoBank S p A : Accounts and Reports 2023

ACCOUNTS AND REPORTS 2023

Accounts and Reports 2023

Contents

Board of Directors, Board of Statutory Auditors and External Auditors	7
Introduction to the Annual Reports and Accounts	9
Consolidated report on operations and Consolidated Accounts and Report of FinecoBank S.p.A	13
Consolidated report on operations	13
Summary data	13
Business performance	31
FinecoBank share	38
Results achieved in the main areas of activity	39
The network of personal financial advisors	43
Human resources	45
Technology infrastructure	50
Internal control system	52
Main risks and uncertainties	53
Organisational structure	54
Business Continuity Plan (BCP)	57
Main balance sheet aggregates	58
Shareholders	74
Income statement figures	75
Own funds and capital ratios	83
Results of the parent and the subsidiary	85
Related-Party Transactions	96
Other information	98
Subsequent events and outlook	99
Proposal for the approval of the accounts and allocation of profit for the year	101
Consolidated financial statements	103
Consolidated Balance Sheet	103
Consolidated Income Statement	105
Consolidated statement of comprehensive income	106
Statement of changes in consolidated shareholders' equity	107
Consolidated cash flow statement	108
Notes to the consolidated accounts	111
Part A - Accounting policies	111
Part B - Consolidated Balance Sheet	159
Part C - Consolidated Income Statement	211
Part D - Consolidated comprehensive income	231
Part E - Information on Risks and relating hedging policies	232
Part F - Consolidated shareholders' equity	302

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Contents

Part G - Business combination	305
Part H - Related-party transactions	306
Part I - Share-based payments	309
Part L - Segment reporting	314
Part M - Leasing	315
Annexes	319
Reconciliation of condensed consolidated accounts to mandatory reporting schedule	319
Certification of consolidated annual Financial Statements pursuant to article 81-ter of Consob regulation no. 11971 of May 14, 1999 and
subsequent amendments	323
Report of the External Auditors	325
Financial statements of FinecoBank S.p.A	333
Financial statements	333
Balance sheet	333
Income Statement	335
Statement of comprehensive income	336
Statement of changes in shareholders' equity	337
Cash flow statement	338
Notes to the accounts	341
Part A - Accounting policies	341
Part B - Balance Sheet	362
Part C - Income Statement	414
Part D - Comprehensive income	435
Part E - Information on Risks and relating hedging policies	436
Part F - Shareholders' equity	488
Part G - Business combination	491
Part H - Related-party transactions	492
Part I - Share-based payments	495
Part L - Segment reporting	497
Part M - Leasing	498
Annexes	503
Annex 1 - Reconciliation of condensed accounts to mandatory reporting schedule	503
Annex 2 - Reference of qualitative information to the consolidated financial statement	506
Certification of the Annual Financial Statements pursuant to article 81-ter of Consob regulation no. 11971 of May 14, 1999 and subsequent
amendments	509
Report of the External Auditors	511
Report of the Board of Statutory Auditors	519
Glossary	551

4 Accounts and Reports 2023 · FinecoBank

Board of Directors, Board of Statutory Auditors and External Auditors

Board of Directors, Board of Statutory Auditors and External Auditors

	Board of Directors
Marco Mangiagalli	Chairman
Gianmarco Montanari	Vice Chairman
Alessandro Foti	Chief Executive Officer and General Manager
Arturo Patarnello	Directors
Elena Biffi
Giancarla Branda
Maria Alessandra Zunino De Pignier
Maria Lucia Candida
Marin Gueorguiev
Paola Generali
Patrizia Albano

	Board of Statutory Auditors
Luisa Marina Pasotti	Chairman
Giacomo Ramenghi	Standing Auditors
Massimo Gatto
Lucia Montecamozzo	Alternate Auditors
Marco Salvatore
KPMG S.p.A.	External Auditors
Lorena Pelliciari	Nominated Official in charge of drawing up
	Company Accounts

The Board of Directors was appointed by the Ordinary Shareholders' Meeting of FinecoBank of April 27th, 2023 and will remain in office until the approval of the annual Financial Statements as at December 31st, 2025.

Registered office

Piazza Durante 11, 20131 Milan, Italy

"FinecoBank Banca Fineco S.p.A."

in abbreviated form "FinecoBank S.p.A.", or "Banca Fineco S.p.A." or "Fineco Banca S.p.A.".

Bank enrolled in the Register of Banks and Parent Company of the FinecoBank Banking Group - enrolled in the Register of Banking Groups at No. 3015, Member of the National Guarantee Fund and National Interbank Deposit Guarantee Fund.

Tax Code and Milan-Monza-Brianza-Lodi Companies Register no. 01392970404 - R.E.A. (Economic and Administrative Index) no. 1598155, VAT No. 12962340159

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