Finecobank Banca Fine Spa (FCBBF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. This is the Coral School Conference Operator. Welcome and thank you for joining the Fineco Third 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, they may signal an 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. Please, go ahead, sir. Good morning, everyone, and thank you for joining our third quarter 2025 results conference call. In the first nine months of 2025, net profits at $480.5 million and revenues at $969.6 million. supported by our non-financial income. Investing up by 10% 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 16.5% year-on-year, thanks to the enlargement of our active investors. Importantly, if we zoom on our quarterly dynamics, net profit and revenues were back to the sequential quarter-on-quarter growth. Our net financial income has already bottomed out and fully absorbed the decreasing interest rates and was up around 2% versus the second quarter on the back of positive deposit net saves and positive reinvestment yield. Operating costs were under control at $259.9 million, increasing by around 6% year-on-year by excluding costs related to the growth of the business. Cost-income ratio was equal to 26.8%, confirming operating leverage as a key strength of the bank. Moving to our commercial results, the underlying step-up in our growth dynamics gets crystal clear month by month. This is underpinned by the positive tailwinds from structural trends and we ar...