Finecobank Banca Fine Spa (FCBBF) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.335 -- 00:00:03.119 Good morning. This is the Coral School Conference operator. 00:00:03.119 -- 00:00:08.548 Welcome and thank you for joining the FinEco Bank first quarter 2025 results 00:00:08.548 -- 00:00:13.676 conference call. As a reminder, all participants are in listen-only mode. 00:00:13.676 -- 00:00:17.762 After the presentation, there will be an opportunity to ask questions. 00:00:17.762 -- 00:00:22.510 Should anyone need assistance during the conference call, they may signal an operator 00:00:22.510 -- 00:00:25.141 by pressing star and zero on their telephone. 00:00:25.141 -- 00:00:28.385 At this time, I would like to turn the conference over to Mr. 00:00:28.385 -- 00:00:33.011 Alessandro Foti, CEO and General Manager of Fineco Bank. 00:00:33.011 -- 00:00:35.234 Please go ahead, sir. 00:00:35.234 -- 00:00:40.561 Good morning, everyone, and thank you for joining our first quarter 2025 00:00:40.561 -- 00:00:45.648 results conference call. Before moving into the details of the presentation, let me 00:00:45.648 -- 00:00:50.715 stress that Fineco is recording an incisable acceleration of 00:00:50.715 -- 00:00:55.966 its growth dynamics, supported by a very healthy underlying quality. 00:00:55.966 -- 00:01:01.010 Our growth is leveraging on our superior customer experience and on 00:01:01.010 -- 00:01:06.415 our fair and transparent positioning, not on short-term aggressive 00:01:06.415 -- 00:01:12.141 offer. This approach is mirrored in the quality of our revenues mix, 00:01:12.141 -- 00:01:17.285 which is entirely recovering with a very low percentage of upfront 00:01:17.285 -- 00:01:22.650 fees and no performance fees at all. Let's now move to the first quarter 00:01:22.650 -- 00:01:27.685 results. Net profit in the period reached $164.2 00:0...