Finecobank Banca Fine Spa (FCBBF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

there will be an opportunity to ask questions. Should anyone need assistance during the conference, call them a signal and operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Alessandro Foti, CEO and General Manager of Fineco Bank. Please go ahead, sir. Good morning, everyone, and thank you for joining our results conference call. First quarter net profit stable here on here at 162 million, despite the higher tax rate by two percentage points. Revenues up by around 4% here on here at 343 million, with all product areas contributing positively. Banking up by around 2% with higher deposits volumes, more than offsetting the lower interest rates. Investing up by 8% thanks to the volume effect. Brokerage up by around 5% thanks to the higher stock of assets under custody and the expanding active investor base. Operating costs were under control at around 95 million, increasing by around 5.2% year-on-year, excluding the additional costs related to the growth of the business. Cost income ratio was equal to 27.7, confirming operating leverage as a key strength of the bank. Our capital position confirmed to be strong and safe with a common equity tier one ratio at 23.34% and leverage ratio at 5.14. Moving to our commercial performance, we are experiencing a material step up in our growth. This is driven by our unique positioning, capturing long-term structural trends, and by our execution on several initiatives. The impact of this acceleration is clearly visible in our numbers. In the first quarter, net sales increased by 44% year-on-year. In April, net sales at 1.3 billion. plus 6% year-on-year with around 600 million deposits, around 320 million assets under management, and around 320 million assets under custo...