Finecobank Spa · MIL:FBK
Finecobank Spa — Finecobank Banca Fine — Q2 2025 Earnings Presentation
44 slides from Finecobank Spa's earnings presentation, Jul 31, 2025
Slide 1: 2Q25 Results
2Q25 Results Alessandro Foti CEO and General Manager Milan, July 31st 2025 FINECO. SIMPLIFYING BANKING.
Slide 2: Disclaimer
Disclaimer ◼ “Pursuant to the paragraph 2 of Article 154 bis of the Consolidated Law on Financial Intermediation (Legislative Decree no. 58 of February 24, 1998), Erick Vecchi, in his capacity as manager responsible for the preparation of FinecoBank S.p.A. (the “Bank”)’s financial reports, declares
Slide 3: Agenda: Fineco Financial Results
Agenda ✓Fineco Financial Results ❑ Fineco Commercial Results ❑ Next steps ❑ Key messages 3
Slide 4: Executive Summary: further acceleration in our expected growth
Executive Summary: further acceleration in our expected growth Successful growth story: our diversified business model allows us to deliver strong results in every market condition Strong net profit and operating leverage Solid capital and liquidity position ◼ 1H25 Net Profit is 317.8 mln, almost fl
Slide 5: Delivering strong Net Profit in every market condition
Delivering strong Net Profit in every market condition Net Profit at 317.8 mln. Results supported by sound acceleration of Investing and Brokerage, confirming the effectiveness of our initiatives. Strong operating leverage confirmed Non Financial Income – new representation 1H25 1H24 1H25 The Non Fi
Slide 6: Our priority: accelerating on Investing
Our priority: accelerating on Investing Growing AUM thanks to our best-in-class market positioning, coupled with higher efficiency on the value chain through FAM Increasing Investing revenues thanks to positive volumes effect and FAM Investing Revenues, mln mln 2Q24 1Q25 2Q25 1H24 1H25 +9.8% Investi
Slide 7: Combining growth potential from FAM and emerging advisory trend
Combining growth potential from FAM and emerging advisory trend FAM key to sustain AUM margins thanks to more efficient value chain, Fineco best placed to catch clients demand for efficient and fair solutions FAM consistently contributing to FBK net sales, with strong room to grow as a % of our Inve
Slide 8: Brokerage: a new structural growth under way
Brokerage: a new structural growth under way A clear step-up in our active investors: Fineco clearly the platform of choice for strong clients’ appetite in govies and ETFs Active investors: a new structural growth thanks to our initiatives and incoming govies/ETF demand traders active investors A st
Slide 9: High quality lending
High quality lending Offered exclusively to the existing base of clients, leveraging on our internal Big Data analytics Commercial Loans Portfolio, eop mln (Gross) Cost of Risk on commercial loans (2) Current accounts/Overdraft (1) Cards Personal loans Mortgages 5 bps 5 bps 6 bps 0.0% Jun.24 Mar.25
Slide 10: Solvency, liquidity ratios
Solvency, liquidity ratios Capital position well above requirements Current Dec.24 Mar.25 Jun.25 (€/bn) Dec.24 Mar.25 Jun.25 Requirements (1) CET1 Ratio 25.91% 23.99% 23.46% 8.68% CET1 Capital 1.31 1.34 1.36 SOLVENCY (1) Total Capital Ratio 35.78% 32.94% 32.07% 13.05% Tier1 Capital 1.81 1.84 1.86 (1
Slide 11: Agenda: Fineco Commercial Results
Agenda ❑ Fineco Financial Results ✓Fineco Commercial Results ❑ Next steps ❑ Key messages 11
Slide 12: Clients' profile and focus on Private Banking
Clients’ profile and focus on Private Banking Outperforming the system in Private Banking growth € bn, TFA FinecoBank +226.3% Italian Private Banking Association (1) since 2016 +208% 72.6 68.4 56.0 +62.0% 48.8 45.3 38.6 25.9 25.8 33.4 884 932 1,037 994 1,101 1,257 22.2 776 806 778 2016 2017 2018 201
Slide 13: TFA and Net Sales evolution
TFA and Net Sales evolution Successful shift towards high added value products thanks to strong productivity of the network Breakdown of total TFA, bn Breakdown of total Net Sales, bn +5.0% +14.7% AUM since the end of 2014: +186.7% 147.8 10.7 8.8 140.8 10.3 10.1 9.3 2.7 122.6 38% 39% +32.2% 34% 3.6
Slide 14: Net sales organically driven key in our strategy of growth
Net sales organically driven key in our strategy of growth The structure of recruiting is changing: more interest in the quality of the business model by PFAs Total Net Sales, bn – Organic / Recruit, % Total recruits Organic Total recruits Organic New PFAs recruited in the year PFAs recruited over t
Slide 15: Agenda: Next steps
Agenda ❑ Fineco Financial Results ❑ Fineco Commercial Results ✓Next steps ❑ Key messages 15
Slide 16: 2025 Guidance
2025 Guidance Our diversified business model key to successfully deal with the current volatile environment Costs and provisions Revenues ➢ OPERATING COSTS: expected growth of around 6% y/y in FY25, not including few millions of additional costs for growth initiatives in a range 5/10 mln (mainly: ma
Slide 17: A unique positioning for a long-term growth story
A unique positioning for a long-term growth story Huge potential to gain additional market share of Italian households’ wealth Fineco, a long term growth journey just at the beginning Italian households TFA (Bankit, € bn) System FBK Breakdown of TFA GROWING STRUCTURAL TAILWINDS 6,031 IN OUR FAVOUR 5
Slide 18: Stepping-up our growth trajectory thanks to strong clients' acquisition
Stepping-up our growth trajectory thanks to strong clients’ acquisition Strong increase in the quality and volume of new clients, fueled by strategic positioning and excellent customer experience. Continuously raising the bar in healthy client acquisition Thd, # CAGR New clients (monthly avg) 16.6 1
Slide 19: Net sales: heading towards a new dimension of growth
Net sales: heading towards a new dimension of growth Solid improvement in the quality our new clients, coupled with an unprecedented opportunity for our Investing A clear acceleration in our net sales dynamics bn, € Total net sales: a solid increase Zooming on deposits: +32.2% healthier underlying g
Slide 20: Next step: an AI-powered Network to boost Net Sales and AUM
Next step: an AI-powered Network to boost Net Sales and AUM Our PFAs’ productivity heading towards the next level AI Assistant: Reingeneering our PFA platform with AI Fineco as the only real player able to deliver an efficient and pervasive AI implementation thanks to our in-house Tech know-how and
Slide 21: AUC: the real cornerstone of our fee-driven business growth
AUC: the real cornerstone of our fee-driven business growth An undervalued component of our business, key for AUM growth and higher brokerage floor Asset Under Custody: a clear sign of healthy fees expansion AUC breakdown (€ bn) AUC PLAYING A KEY ROLE IN OUR FEE DRIVEN GROWTH: 49.2 11) INVESTING: AU
Slide 22: ETF business: exploring a new revenues opportunity
ETF business: exploring a new revenues opportunity Fineco the only real player able to catch the client-driven move towards efficient investment solutions A fast-accelerating shift underneath the surface of the Italian Wealth Management industry €, bn Stock of ETFs ETFs in AUC ETFs in AUM +11.6% Ini
Slide 23: Agenda: Key messages
Agenda ❑ Fineco Financial Results ❑ Fineco Commercial Results ❑ Next steps ✓Key messages 23
Slide 24: Long term sustainability at the heart of Fineco business model
Long term sustainability at the heart of Fineco business model We are a looking-forward organization playing for the long-run and able to generate a positive impact for all our stakeholders and the society as a whole Fineco corporate purpose: “to support customers in taking a responsible approach to
Slide 25: Fineco as a profitable FinTech Bank: ICT a key business driver
Fineco as a profitable FinTech Bank: ICT a key business driver Leveraging on a deep-rooted internal know-how to expand platform scalability and operating gearing HYPERAUTOMATION COST EFFICIENCY DATA DRIVEN OMNICHANNEL Our strong emphasis on Ensuring our vast data Through comprehensive Blending RPA,
Slide 26: Healthy and sustainable growth with a long term horizon
Healthy and sustainable growth with a long term horizon Highly scalable operating platform… 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 CAGR (2014-2024) 123 141 + 11% 92 108 107 69 81 1,656 + 6% 67 1,487 1,563 TFA (bn) 49 55 60 1,370 1,428 1,358 1,200 1,278 637 677 + 16% Clients (thd, #)
Slide 27: ESG Multi-Year Plan 2024-2026 fully integrated within Banks' strategy
ESG Multi-Year Plan 2024-2026 fully integrated within Banks’ strategy Combining business growth and financial strength with the principles of social and environmental sustainability, in order to create long-term value for all Stakeholders ❑ New strategy focuses on challenging ESG objectives(1) withi
Slide 28: Annex
Annex 28
Slide 29: P&L condensed
P&L condensed (1) mln 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 1H24 1H25 Net financial income 180.8 182.5 177.6 170.3 711.2 161.3 153.7 363.3 315.0 Dividends 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Non Financial Income 146.1 148.8 148.4 162.8 606.1 167.7 162.6 294.9 330.4 Other expenses/income 0.2 0.0 -0.2 -0
Slide 30: 1H25 P&L FinecoBank and Fineco Asset Management
1H25 P&L FinecoBank and Fineco Asset Management Fineco Asset FinecoBank FinecoBank mln Management Individual Consolidated Net financial income 0.4 314.7 315.0 Dividends 0.0 35.2 0.0 Non Financial Income 87.0 243.4 330.4 Other expenses/income -0.9 -0.1 -1.1 Total revenues 86.5 593.2 644.4 Staff expen
Slide 31: Details on Net Interest Income
Details on Net Interest Income Volumes & Volumes & Volumes & Volumes & Volumes & Volumes & Volumes & Volumes & Volumes & mln 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 1H24 1H25 Margins Margins Margins Margins Margins Margins Margins Margins Margins Financial Investments 109.6 24,695 113.9 25,177 113.0 25,2
Slide 32: Focus on Bond portfolio
Focus on Bond portfolio Bond Portfolio (nominal value) € bn, eop 25.3 bn Bond portfolio Nominal value: 25.3 bn: 0.7 6.1 Italy ▪ o/w 72% at fixed rate, avg yield: 159 bps 8.1 Spain Other Govies (1) ▪ o/w 28% at floating rate (swapped), avg spread: 20 bps on 3m Eur (2) 4.1 SSA Residual maturity total
Slide 33: Details on Net Commissions
Details on Net Commissions Net commissions by product area mln 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 1H24 1H25 Banking 12.0 12.0 13.5 12.9 50.4 11.1 11.4 24.0 22.6 Brokerage 33.0 28.9 24.7 29.6 116.1 37.1 31.2 61.8 68.3 o/w Equity 23.2 20.8 19.0 24.2 87.1 28.5 24.8 43.9 53.3 Bond 6.2 4.4 1.9 2.4 14.9 5
Slide 34: Revenues breakdown by Product Area
Revenues breakdown by Product Area mln 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 Net Financial Income 171.5 172.2 167.6 160.2 671.5 151.9 145.2 Non Financial Income 10.6 12.0 12.4 13.1 48.2 10.8 11.1 Other 0.1 0.1 0.1 0.1 0.3 0.1 -0.3 Total Banking 182.2 184.3 180.1 173.4 720.0 162.8 156.0 49% Net interest
Slide 35: Breakdown Total Financial Assets
Breakdown Total Financial Assets mln Mar.24 Jun.24 Sep.24 Dec.24 Mar.25 Jun.25 AUM 60,425 61,645 63,808 66,383 66,295 68,577 Funds and Sicav 40,708 41,557 43,557 45,645 45,596 47,513 Insurance 13,579 13,242 12,982 12,944 12,744 12,610 AUC under advisory 5,756 6,423 6,832 7,360 7,500 7,987 Other 383
Slide 36: Increasing quality and productivity of the Network
Increasing quality and productivity of the Network Total Assets per PFA TFA concentration per PFA Eop, mln AUM AUC Deposits PFAs with TFA >20mln are 68% and hold 92% of TFA +11.6% +61 +9.4% 113.9bn 100 122.7bn 100 2,982 3,043 40.4 41.8 > €35mln 38.2 +9.1% €25-3mln 40% 44% 68% y/y 22.4 €20-25mln 92%
Slide 37: Balance Sheet
Balance Sheet mln Mar.24 Jun.24 Sep.24 Dec.24 Mar.25 Jun.25 Due from Banks (*) 3,808 3,222 3,293 2,334 2,188 2,023 Loans to Customers 6,098 6,116 6,051 6,236 6,132 6,169 Financial Assets (*) 20,426 20,750 21,532 23,454 23,734 25,138 Tangible and Intangible Assets 266 266 265 271 269 268 Hedging inst
Slide 38: Safe Balance Sheet: simple, highly liquid
Safe Balance Sheet: simple, highly liquid Diversified investment portfolio 35.4 bn (1) Financial Assets Due to customers ◼ Investment strategy based on a diversified blend of EU government bonds, Loans to customers Other liabilities supranational and agencies Due from Banks (2) Equity 25.1 ◼ 99% not
Slide 39: Leverage Ratio comfortably under control
Leverage Ratio comfortably under control Leverage Ratio Sensitivity: multi-year view Delta Retained earnings = Tier 1 Capital (mln) 0 150 300 400 450 500 550 600 650 -2,000 5.97% 6.39% 6.68% 6.82% 6.96% 7.10% 7.24% 7.37% OUR PRIORITIES -1,500 5.88% 6.30% 6.58% 6.71% 6.85% 6.99% 7.13% 7.27% Starting
Slide 40: Fineco Asset Management in a nutshell
Fineco Asset Management in a nutshell FAM is active on 7 business lines, providing not only the expertise of the best Asset Managers but also solutions managed internally by FAM to deepen further the range of strategies and the flexibility of FAM catalogue of products. 1 GLOBAL DEFENCE 2 PROFILE FUN
Slide 41: Preserving our best price/quality ratio
Preserving our best price/quality ratio Competitive landscape(1) € Online € 111 avg € 153 avg Branch online costs branch costs Ing (Conto Arancio Più) 0 Widiba 20 53 Webank 24 Fineco 40 Illimity (Conto Illimity Classic) 46 Banca Sella (Conto Start) 62 161 HelloBank! (Hello! Money) 73 CreditAgricole
Slide 42: ESG ratings, Indices and highlights
ESG ratings, Indices and highlights Our ESG ratings and Indices RATING AGENCY EVALUATION SCALE AS TODAY ESG INDICES (From 0 to 100) 68 (From D- to A) B (From 100 to 0) 11.4 Low risk (1) (From 0 to 100) 82 S&P Global 1200 ESG index S&P Global LargeMidCap ESG Index (From CCC to AAA) AA (From F to EEE)
Slide 43: Achievements and commitments towards Net-Zero emissions by 2050
Achievements and commitments towards Net-Zero emissions by 2050 RESPONSIBLE FINANCE - Scope 3 emissions from internal investment portfolio 2021 2024 2026 2030 2050 Exposure in countries, institutions and banks: > 70% of 2021 Total Consolidated Assets % exposure in debt securities of sovereign and ba
Slide 44: Funding
Funding Fixed Income Senior Preferred instruments ➢ €300 mln Senior Preferred (6NC5) issued on February 16th, 2023 in order to ➢ €500 mln Senior Preferred (6NC5) issued on October 14th, 2021 in order to be have an additional buffer above the Fully Loaded MREL Requirement on LRE. immediately complian
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