Finecobank Banca Fine Spa (FCBBF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. This is the Car School Conference Operator. Welcome and thank you for joining the Finico Bank's second quarter 2025 results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, you may signal an operator by pressing star and zero on the telephone. At this time, I would like to turn the conference over to Mr. Alessandro Forti, CEO and General Manager of Fineco Bank. Please go ahead, sir. Good morning, everyone, and thank you for joining our second quarter 2025 results conference call. Before moving in the details of the presentation, let me stress that Fineco is recording a sizable acceleration of its growth dynamics, supported by very healthy underlying quality. Our growth is leveraging on our superior customer experience, and on our fair and transparent position, not on short-term aggressive offer. This approach is mirrored in the quality of our revenues mix, which is entirely recurring with a very low percentage of upfront fees and no performance fees at all. Later in the presentation, we will also share our industrial action to further accelerate our net sales and improve our mix through AI-powered network of financial advisors. Let's now move to the second quarter results. Net profit in the first half of 2025 is 317.8 million, almost flat year-on-year. Revenues at 644.4 million, supported by our non-financial income. Investing up by 9.8% year-on-year. thanks to the volume effect and the higher control of the value chain by FinEco Asset Management. And brokerage is up by 15% year-on-year, thanks to the enlargement of our active investors and higher market volumes. Operating costs, well under control a...