FinecoBank S p A : Consolidated First Half Financial Report as at June 30, 2021

Consolidated first half financial report as at June 30, 2021

FinecoBank S.p.A.

Consolidated First Half

Financial Reports

as at 30 June 2021

FinecoBank · Consolidated First Half Financial Report as at June 30, 2021 1

Contents

Board of Directors, Board of Statutory Auditors and External Auditors	.................................................................................................................. 7
Introduction to the Consolidated First Half Financial Report ....................................................................................................................................	9
Consolidated First Half Financial Report ...................................................................................................................................................................	12
Consolidated interim report on operations ................................................................................................................................................................	13
Summary data...........................................................................................................................................................................................................	13
Business performance.............................................................................................................................................................................................	30
FinecoBank shares ..................................................................................................................................................................................................	40
Results achieved in the main areas of activity......................................................................................................................................................	41
The network of personal financial advisors ..........................................................................................................................................................	48
Human resources .....................................................................................................................................................................................................	50
Technology infrastructure.......................................................................................................................................................................................	53
Internal control system............................................................................................................................................................................................	54
Main risks and uncertainties ...................................................................................................................................................................................	55
Organisational structure..........................................................................................................................................................................................	56
Main balance sheet aggregates ..............................................................................................................................................................................	59
Income statement figures........................................................................................................................................................................................	76
Results of the parent and the subsidiary...............................................................................................................................................................	85
Related-Party Transactions.....................................................................................................................................................................................	96
Subsequent events and outlook.............................................................................................................................................................................	97
Consolidated financial statements............................................................................................................................................................................	100
Consolidated Balance Sheet .................................................................................................................................................................................	100
Consolidated Income Statement ..........................................................................................................................................................................	102
Consolidated statement of comprehensive income...........................................................................................................................................	103
Statement of changes in consolidated shareholders' equity ............................................................................................................................	104
Consolidated cash flow statement .......................................................................................................................................................................	105
Notes to the accounts.................................................................................................................................................................................................	108
Part A - Accounting policies ................................................................................................................................................................................	108
Part B - Consolidated Balance Sheet ..................................................................................................................................................................	132
Part C - Consolidated Income Statement............................................................................................................................................................	164
Part E - Information on Risks and relating hedging policies.............................................................................................................................	183
Part F - Consolidated shareholders' equity ........................................................................................................................................................	219
Part H - Related-party transactions .....................................................................................................................................................................	223
Part L - Segment reporting ...................................................................................................................................................................................	225
Part M - Leasing.....................................................................................................................................................................................................	226
Annexes .......................................................................................................................................................................................................................	230
Certification of consolidated interim Financial Statements pursuant to article 81-ter of Consob regulation no. 11971 of May 14, 1999 and
subsequent amendments...........................................................................................................................................................................................	234
FinecoBank · Consolidated First Half Financial Report as at June 30, 2021 3