Net profit at €317.8 million
Total revenues: €644.4 million
Cost/income ratio: 26.9%
Solid Capital and Liquidity: CET1 ratio at 23.46%, LR at 5.20%, LCR1at
912% FIGURES AT JULY 31st2025 (ESTIMATES)-
Net sales in the month of July at ~€1.1 billion (+45% y/y). AUM at €0.4 billion and deposits at ~€0.3 billion
- 15,000 new clients acquired (>20% y/y)
- Brokerage revenues in the month of July at €19 million
-
Net sales in the month of July at ~€1.1 billion (+45% y/y). AUM at €0.4 billion and deposits at ~€0.3 billion
Milan, July 31st, 2025
The Board of Directors of FinecoBank S.p.A. has approved the results as of June 30th, 2025. Alessandro Foti, CEO and General Manager of FinecoBank, stated:
"The robust results of the first half of 2025 confirm that Fineco is continuing along its growth path, thanks to the ability to successfully meet investment needs of an increasingly broad client base. In a context marked by a rising request of financial advisory, Fineco's business model confirms to be particularly effective in combining the pursuit of transparency with the need for professional savings management. Our network of financial advisors' role in supporting customers through efficient and long-term planning has contributed to the acceleration of the Investing area. This has been further supported by new active and passive solutions of Fineco Asset Management and the expansion of our brokerage business, driven by a growing client base. A model that is increasingly appreciated by savers, with the number of new clients reaching an all time high in the first half of the year, opening the way for new growth opportunities for the Bank in the second half".
1 Avg 12 months, in line with Pillar 3 disclosure
FINECOBANK | |
| |
| |
1H25 |
|
HIGHLIGHTS |
|
| |
| |
JULY NET SALES ESTIMATES |
|
| |
a full range of active ETFs | |
UPDATE ON INITIATIVES |
|
2 Mainly related to: marketing expenses (€-1.1 mln y/y), FAM (€-1.6 mln y/y) and A.I. projects (€-0.6 million).
TOTAL FINANCIAL ASSETS AND NET SALES
Total Financial Asset as of June 30th, 2025, amounted to €147.8 billion up by 5.0% compared to December 2024. Assets under Management was €68.6 billion, increasing by 3.3% compared to December 2024, assets under custody amounted to €49.2 billion (+10.1% compared to December 2024), while the stock of direct deposits amounted to €30.0 billion (+1.2% compared to December 2024).
In particular, the TFA related to costumers with assets above €500,000 totalled €72.6 billion (+6.1% compared to December 2024).
In the first half of 2025, total net sales amounted to €6.6 billion, growing by +32.2% compared to the same period of 2024: Asset under management net sales stood at €2.6 billion (+80.2%), Assets under custody amounted to €3.7 billion and deposits were equalled to €0.3 billion.
As of June 30st, 2025, the network was composed of 3,043 Personal Financial Advisors operating through 434 Fineco Center. Inflows in 1H25 through the PFA network were equal to €5.0 billion.
As of June 30th, 2025, Fineco Asset Management managed €38.2 billion of assets, of which €26.5 billion were
retail class and around €11.6 billion institutional class.
A total of 99,724 new customers were acquired in 1H25 (+35.5% y/y). The total number of customers as of June 30th, 2025 was 1,729,579 (+7.2% y/y)
MAIN INCOME STATEMENT RESULTS AT 31.06.25
The Non Financial Income is the sum of the Net Commissions item and the Trading Profit item: this is aimed to better represent the industrial nature of our Trading Profit, almost entirely composed of client-driven Brokerage revenues.
mln | 1Q24 | 2Q24 | 1Q25 | 2Q25 | 1H24 | 1H25 | 1H25/ 1H24 | 2Q25/ 2Q24 | 2Q25/ 1Q25 | ||||
Net financial Income | 180.8 | 182.5 | 161.3 | 153.7 | 363.3 | 315.0 | -13.3% | -15.8% | -4.7% | ||||
Non Financial Income3 | 146.1 | 148.8 | 167.7 | 162.6 | 294.9 | 330.4 | 12.0% | 9.3% | -3.0% | ||||
Other expenses/income | 0.2 | 0.0 | 0.2 | -1.3 | 0.1 | -1.1 | n.s. | n.s. | n.s. | ||||
Total revenues | 327.0 | 331.3 | 329.3 | 315.1 | 658.3 | 644.4 | -2.1% | -4.9% | -4.3% | ||||
Staff expenses | -33.4 | -33.6 | -36.4 | -37.4 | -67.0 | -73.8 | 10.1% | 11.2% | 2.9% | ||||
Other admin.exp. net of recoveries4 | -39.5 | -41.2 | -44.4 | -41.5 | -80.7 | -85.8 | 6.4% | 0.6% | -6.5% | ||||
D&A | -6.4 | -6.2 | -6.5 | -7.0 | -12.6 | -13.5 | 7.1% | 12.7% | 7.6% | ||||
Operating expenses | -79.3 | -81.1 | -87.2 | -85.9 | -160.3 | -173.1 | 8.0% | 6.0% | -1.6% | ||||
Gross operating profit | 247.7 | 250.2 | 242.0 | 229.2 | 498.0 | 471.2 | -5.4% | -8.4% | -5.3% | ||||
Provisions | -38.1 | 0.5 | -3.8 | -3.9 | -37.7 | -7.7 | -79.5% | n.s. | 2.9% | ||||
LLP | -0.3 | -1.4 | -0.9 | -1.7 | -1.7 | -2.6 | 52.3% | 18.8% | 94.6% | ||||
Profit from investments | 0.4 | 0.6 | -1.0 | -0.1 | 1.0 | -1.0 | n.s. | n.s. | n.s. | ||||
Profit before taxes | 209.7 | 249.9 | 236.4 | 223.5 | 459.6 | 459.9 | 0.1% | -10.5% | -5.4% | ||||
Income taxes | -62.7 | -76.5 | -72.2 | -69.9 | -139.3 | -142.1 | 2.0% | -8.7% | -3.2% | ||||
NET PROFIT FOR THE PERIOD | 147.0 | 173.3 | 164.2 | 153.6 | 320.3 | 317.8 | -0.8% | -11.3% | -6.4% |
Revenues totalled €644.4 million in the first half of 2025, slightly decreasing by -2.1% compared to €658.3 million in the first half of 2024.
Net Financial Income stood at €315.0 million, decreasing by 13.3% y/y due to lower market interest rates.
Non Financial Income in the first half of 2025 amounted to €330.4 million, increasing by 12.0% compared to
€294.9 million in the same period of 2024. This increase is mainly due to the Investing (€192.8 million, +10.0% y/y) thanks to the volume effect and the higher contribution of Fineco Asset Management. Brokerage contributed with around €120.7 million (+20.5% y/y), thanks to the wider active investors base and to higher market volumes, while Banking stood at €21.9 million.
Operating costs in the first six months of 2025 were well under control at €173.1 million, up 8.0% y/y mainly due to expenses strictly connected to the growth of the business2, net of which the increase in operating costs is equal to 5.9% y/y.
Staff expenses totaled €73.8 million, increasing by €10.1%. The cost/income ratio was 26.9%.
Gross operating profit amounted to €471.2 million as of June 30th, 2025.
3The item represents the sum of the items "Net fee" and "Net trading, hedging and fair value income" reported in the reclassified income statement.
4The item represents the sum of the items "Other administrative expenses" and "Recovery of expenses" reported in the reclassified
income statement.
Other charges and provisions totaled €-7.7 million.
Loan loss provisions amounted to €-2.6 million. The cost of risk is equal to 6 basis points.
Profit on Investments amounted to €-1.0 million.
Profit before taxes stood at €459.9 million, substantially flat compared to the €459.6 million in the first half of 2024.
Net profit for the period was equal to €317.8 million, substantially flat y/y.
MAIN INCOME STATEMENT RESULTS FOR THE SECOND QUARTER 2025
Revenues in the second quarter totalled €315.1 million, down by 4.3% q/q and by -4.9% y/y.
Net Financial Income stood at €153.7 million, down by -4.7% compared to the previous quarter and down by 15.8% compared to the same quarter of 2024, due to lower interest rates in the market.
Non Financial Income amounted to €162.6 million, down by -3,0% compared to the first quarter of 2025 due to the decrease in Brokerage revenues driven by the lower market volatility, partially offset by the growth of Investing revenues (+3.2% y/y). Non Financial Income are up by 9.3% compared to the 148.8 million of the second quarter 2024, thanks to the increase in the Investing and Brokerage revenues.
Total operating costs in the second quarter were equal to €85.9 million, decreasing by -1.6% q/q and up by 6.0% y/y.
Gross operating profit was equal to €229.2 million, down by -5.3% compared with the €242.0 million in the previous quarter and by -8.4% y/y compared with the €250.2 of the second trimester 2024.
Other charges and provisions amounted to €-3.9 million.
Loan loss provisions amounted to €-1.7 million.
Profits from investments stood at €-0.1 million.
Profit before taxes in the quarter was equal to €223.5 million, down by -5.4% q/q and by -10.5% y/y.
Net profit in the quarter was equal to €153.6 million, down by -6.4% q/q and by -11.3% y/y.
SHAREHOLDERS' EQUITY AND CAPITAL RATIOS
Consolidated Shareholders' equity stood at €2,244.3 million, decreasing by €145.0 million compared to December 31st, 2024 due to the dividend payment for the year 2024 (€452.6 million) and the payment of the Additional Tier 1 coupon (€13.6 million), partially offset by the 1H25 net profit (€317.8 million).
The Group confirms its solid capital position with a CET1 ratio of 23.46% as of June 30th, 2025, compared to 23.99% as of March 31st, 2025 (final figure) and to 25.91% as of December 31st, 2024.
The Tier 1 ratio and the Total Capital Ratio were equal to 32.07% as of June 30th, 2025 compared to 32.94% as of March 31st, 2025 (final figure) and to 35.78% as of December 31st, 2024.
Leverage ratio stood at 5.20% as of June 30th, 2025 compared to 5.34% as of March 31st, 2025 and to 5.22% as of December 31st, 2024.
The Group's liquidity indicators are very solid, placing Fineco at the highest level among European banks: LCR stood at 912%1as of June 30th, 2025 significantly above the 100% regulatory limit, and NSFR equal to 403% as of June 30th, 2025 also well above the 100% regulatory limit.
LOANS TO CUSTOMERS
Loans to customers stood at €6,169.0 million as of June 30th, 2025, slightly increasing (+0.6%) compared to March 31st, 2025 and to June 30th, 2024 (+0.9%).
The amount of non-performing loans (loans with insolvent borrowers, unlikely to pay and non-performing loans/past due) net of impairment totaled €7.7 million (€4.1 million as of March 31st, 2025 and €6.1 million as of June 30th, 2024), with a 74.5% coverage ratio. The ratio between the amount of non-performing loans and total loans to ordinary customers equaled to 0.15%.
SIGNIFICANT EVENTS IN THE SECOND QUARTER OF 2025 AND SUBSEQUENT EVENTS
With reference to the main events that took place in the second quarter of 2025 and after June 30th, 2025, please refer to the press releases published on the FinecoBank website.
NEW INITIATIVES MONITORING
Fineco Asset Management continues to expand its product range, with the launch of innovative solutions designed to gradually guide clients toward equities, especially in the current environment of declining interest rates. The latest solutions are designed to navigate this phase with a balanced approach, combining equity exposure with capital protection or mechanisms allowing to build an equity exposure in case of market corrections.
FAM is also preparing to further strengthen its presence in the ETF space. Following the launch of its first family of instruments in 2022, FAM has entered the active ETF segment, positioning itself at the forefront of the industry's latest evolution. In April, the Irish company launched a U.S. equity ETF, which includes a protection mechanism designed to limit maximum losses in the event of a market correction. FAM is also developing a full range of active ETFs.
Fineco has also made available to its network of financial advisors the first two artificial intelligence applications, continuing its strategy of equipping its professionals with the most advanced tools to constantly enhance the quality of service offered to clients. The main innovation is the launch of the Portfolio Builder, which allows advisors to use a tool trained on the financial principles defined by Fineco to build portfolios tailored to individual client needs or to analyze existing portfolios. The tool also enables comparisons between two or more solutions, product sheet searches, and a daily summary of key financial news. Once the portfolio is generated, the AI assistant provides an in-depth analysis of its characteristics using charts,
tables, and interactive widgets, allowing the advisor to further customize the solution. Fineco has also introduced a Search Tool allowing PFAs to quickly access internal memos and communications, and ultimately work more efficiently.
SUSTAINABILITY
Fineco remains committed to its sustainability journey, also through the implementation of activities and projects aimed at achieving the goals and targets outlined in the ESG Multi-Year Plan 2024-2026.
The ESG offer and the Bank's portfolio are the following (data at end-2024):
73% of funds (no. of ISIN) and 6% of funds (no. of ISIN) are classified as article 8 and 9 SFDR respectively5.
€0.2bn of mortgages are classified green for the purchase of properties. The green loan business is progressing.
€2.3bn of bonds in the Bank's portfolio are green social and sustainable.
99.4% of bonds in the Bank's portfolio are from issuers with Net-Zero emissions targets.
Fineco has the following scores from the major ESG rating agencies:
S&P Global ESG Score 2023: 68/100.
CDP Climate Change: rating "B"
Sustainalytics: risk rating ESG of 11.4 (Low risk), confirming the stance among the best banks at international level;
LSEG ESG (Refinitiv): 82/100, score that signals an excellent ESG performance and a high level of transparency in the public disclosure of relevant ESG data6;
MSCI ESG rating: "AA" (leader) among the diversified financials;
Standard Ethics: rating "EEE-" and Stable Outlook.
Fineco is also included in the following sustainability indices: Borsa Italiana MIB ESG Index (Euronext), FTSE4Good, S&P Global 1200 ESG Index and S&P Global Large Mid Cap ESG Index, Standard Ethics Italian Banks Index and Standard Ethics Italian Index.
GUIDANCE FOR 2025REVENUES:
Investing revenues: every 1 billion change of Asset Under Management on August 1st, generates €2.9 million of management fees from August 1stuntil year end
Banking fees expected a slight decrease vs FY24 due to change in the instant payment regulation
5 % calculated on the amount of mutual funds available for subscription
6 Rating FY23. FY24 Rating under review
Brokerage revenues expected to remain strong with a continuously growing floor thanks to the enlargement of active investors. For 2025 we expect a record year for brokerage revenues
OPERATING COSTS AND PROVISIONS EXPECTATIONS:
COSTS: growth of around 6% y/y, not including few millions of additional costs for growth initiatives in a range 5-10 millions (mainly: marketing, FAM, AI)
COST/INCOME: comfortably below 30% thanks to the scalability of our platform and strong operating gearing
COST OF RISK: expected in a range between 5-10 basis points in 2025 thanks to the quality of our portfolio
CAPITAL
PAYOUT AND CAPITAL RATIOS: for FY25 we expect a payout ratio in a range 70/80%. On Leverage Ratio our goal is to remain above 4.5%
COMMERCIAL PERFOMANCE
NET SALES: robust, high quality and increasing AUM and deposits net sales
CLIENTS ACQUISITION: continuation of the strong growth trend expected.
The reclassified consolidated balance sheet and the reclassified income statement approved by the Board of Directors of July 30th, 2025 are here attached.
CONSOLIDATED BALANCE SHEET
(Amounts in € thousand) | ||||
Amounts as at | Changes | |||
ASSETS | June 30, 2025 | December 31, 2024 | Amounts | % |
Cash and cash balances | 1,603,940 | 1,962,876 | (358,936) | -18.3% |
Financial assets held for trading | 46,224 | 28,539 | 17,685 | 62.0% |
Loans and receivables to banks | 419,121 | 370,733 | 48,388 | 13.1% |
Loans and receivables to customers | 6,169,028 | 6,235,643 | (66,615) | -1.1% |
Financial investments | 25,091,833 | 23,425,447 | 1,666,386 | 7.1% |
Hedging instruments | 453,127 | 527,272 | (74,145) | -14.1% |
Property, plant and equipment | 144,174 | 146,296 | (2,122) | -1.5% |
Goodwill | 89,602 | 89,602 | - | n.a. |
Other intangible assets | 34,579 | 35,242 | (663) | -1.9% |
Tax assets | 30,275 | 53,250 | (22,975) | -43.1% |
Tax credit acquired | 847,707 | 1,259,059 | (411,352) | -32.7% |
Other assets | 429,567 | 554,858 | (125,291) | -22.6% |
Total assets | 35,359,177 | 34,688,817 | 670,360 | 1.9% |
(Amounts in € thousand) | ||||
Amounts as at | Changes | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | June 30, 2025 | December 31, 2024 | Amounts | % |
Deposits from banks | 859,635 | 850,600 | 9,035 | 1.1% |
Deposits from customers | 30,680,880 | 29,988,914 | 691,966 | 2.3% |
Debt securities in issue | 804,934 | 810,228 | (5,294) | -0.7% |
Financial liabilities held for trading | 26,464 | 8,130 | 18,334 | 225.5% |
Hedging instruments | 43,642 | 45,321 | (1,679) | -3.7% |
Tax liabilities | 11,148 | 19,519 | (8,371) | -42.9% |
Other liabilities | 688,184 | 576,793 | 111,391 | 19.3% |
Shareholders' equity | 2,244,290 | 2,389,312 | (145,022) | -6.1% |
- capital and reserves | 1,944,441 | 1,756,076 | 188,365 | 10.7% |
- revaluation reserves | (17,988) | (19,049) | 1,061 | -5.6% |
- net profit | 317,837 | 652,285 | (334,448) | -51.3% |
Total liabilities and Shareholders' equity | 35,359,177 | 34,688,817 | 670,360 | 1.9% |
CONSOLIDATED BALANCE SHEET - QUARTERLY FIGURES
(Amounts in € thousand) | |||||
June 30, 2024 | September 30, 2024 | December 31, 2024 | March 31, 2025 | June 30, 2025 | |
ASSETS | |||||
Cash and cash balances | 2,833,922 | 2,863,043 | 1,962,876 | 1,779,492 | 1,603,940 |
Financial assets held for trading | 21,214 | 21,365 | 28,539 | 39,245 | 46,224 |
Loans and receivables to banks | 388,285 | 429,706 | 370,733 | 408,331 | 419,121 |
Loans and receivables to customers | 6,116,128 | 6,050,507 | 6,235,643 | 6,132,162 | 6,169,028 |
Financial investments | 20,729,052 | 21,510,148 | 23,425,447 | 23,694,771 | 25,091,833 |
Hedging instruments | 737,713 | 562,503 | 527,272 | 509,769 | 453,127 |
Property, plant and equipment | 142,826 | 141,645 | 146,296 | 144,753 | 144,174 |
Goodwill | 89,602 | 89,602 | 89,602 | 89,602 | 89,602 |
Other intangible assets | 33,515 | 33,306 | 35,242 | 35,056 | 34,579 |
Tax assets | 49,466 | 49,503 | 53,250 | 32,406 | 30,275 |
Tax credit acquired | 1,298,821 | 1,317,226 | 1,259,059 | 1,170,502 | 847,707 |
Other assets | 341,226 | 347,013 | 554,858 | 384,571 | 429,567 |
Total assets | 32,781,770 | 33,415,567 | 34,688,817 | 34,420,660 | 35,359,177 |
(Amounts in € thousand) | |||||
June 30, 2024 | September 30, 2024 | December 31, 2024 | March 31, 2025 | June 30, 2025 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
Deposits from banks | 1,171,776 | 925,420 | 850,600 | 892,762 | 859,635 |
Deposits from customers | 28,005,234 | 28,580,571 | 29,988,914 | 29,530,837 | 30,680,880 |
Debt securities in issue | 804,009 | 808,368 | 810,228 | 800,619 | 804,934 |
Financial liabilities held for trading | 9,722 | 14,599 | 8,130 | 19,656 | 26,464 |
Hedging instruments | (1,366) | 38,733 | 45,321 | 30,225 | 43,642 |
Tax liabilities | 33,418 | 100,174 | 19,519 | 65,562 | 11,148 |
Other liabilities | 544,316 | 573,759 | 576,793 | 538,222 | 688,184 |
Shareholders' equity | 2,214,661 | 2,373,943 | 2,389,312 | 2,542,777 | 2,244,290 |
- capital and reserves | 1,900,957 | 1,889,060 | 1,756,076 | 2,395,302 | 1,944,441 |
- revaluation reserves | (6,616) | (5,112) | (19,049) | (16,716) | (17,988) |
- net profit | 320,320 | 489,995 | 652,285 | 164,191 | 317,837 |
Total liabilities and Shareholders' equity | 32,781,770 | 33,415,567 | 34,688,817 | 34,420,660 | 35,359,177 |
CONSOLIDATED INCOME STATEMENT
(Amounts in € thousand) | ||||
1H 25 | 1H 24 | Changes | ||
Amounts | % | |||
Financial margin | 315,041 | 363,257 | (48,216) | -13.3% |
of which Net interest | 315,840 | 361,498 | (45,658) | -12.6% |
of which Profits from Treasury | (799) | 1,759 | (2,558) | n.a. |
Dividends and other income from equity investments | 10 | 8 | 2 | 25.0% |
Net commission | 278,231 | 257,182 | 21,049 | 8.2% |
Net trading, hedging and fair value income | 52,151 | 37,708 | 14,443 | 38.3% |
Net other expenses/income | (1,081) | 148 | (1,229) | n.a. |
REVENUES | 644,352 | 658,303 | (13,951) | -2.1% |
Staff expenses | (73,783) | (67,023) | (6,760) | 10.1% |
Other administrative expenses | (196,904) | (178,214) | (18,690) | 10.5% |
Recovery of expenses | 111,067 | 97,510 | 13,557 | 13.9% |
Impairment/write-backs on intangible and tangible assets | (13,506) | (12,617) | (889) | 7.0% |
Operating costs | (173,126) | (160,344) | (12,782) | 8.0% |
OPERATING PROFIT (LOSS) | 471,226 | 497,959 | (26,733) | -5.4% |
Net impairment losses on loans and provisions for guarantees and commitments | (2,572) | (1,689) | (883) | 52.3% |
NET OPERATING PROFIT (LOSS) | 468,654 | 496,270 | (27,616) | -5.6% |
Other charges and provisions | (7,721) | (37,653) | 29,932 | -79.5% |
Net income from investments | (1,014) | 981 | (1,995) | n.a. |
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS | 459,919 | 459,598 | 321 | 0.1% |
Income tax for the period | (142,082) | (139,278) | (2,804) | 2.0% |
NET PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS | 317,837 | 320,320 | (2,483) | -0.8% |
PROFIT (LOSS) FOR THE PERIOD | 317,837 | 320,320 | (2,483) | -0.8% |
NET PROFIT (LOSS) FOR THE PERIOD ATTRIBUTABLE TO THE GROUP | 317,837 | 320,320 | (2,483) | -0.8% |
CONSOLIDATED INCOME STATEMENT - QUARTERLY FIGURES
(Amounts in € thousand)
Year | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | 1st Quarter | 2nd Quarter | |
2024 | 2024 | 2024 | 2024 | 2024 | 2025 | 2025 | |
Financial margin | 711,162 | 180,762 | 182,495 | 177,574 | 170,331 | 161,321 | 153,720 |
of which Net interest | 710,454 | 179,003 | 182,495 | 178,533 | 170,423 | 161,220 | 154,620 |
of which Profits from Treasury | 708 | 1,759 | - | (959) | (92) | 101 | (900) |
Dividends and other income from equity investments | 17 | (7) | 15 | 1 | 8 | (24) | 34 |
Net commission | 527,026 | 128,582 | 128,600 | 129,986 | 139,858 | 140,420 | 137,811 |
Net trading, hedging and fair value income | 79,043 | 17,489 | 20,219 | 18,368 | 22,967 | 27,328 | 24,823 |
Net other expenses/income | (773) | 177 | (29) | (176) | (745) | 231 | (1,312) |
REVENUES | 1,316,475 | 327,003 | 331,300 | 325,753 | 332,419 | 329,276 | 315,076 |
Staff expenses | (137,847) | (33,389) | (33,634) | (35,083) | (35,741) | (36,374) | (37,409) |
Other administrative expenses | (370,018) | (87,314) | (90,900) | (89,794) | (102,010) | (98,480) | (98,424) |
Recovery of expenses | 201,658 | 47,818 | 49,692 | 52,529 | 51,619 | 54,109 | 56,958 |
Impairment/write-backs on intangible and tangible assets | (25,791) | (6,403) | (6,214) | (6,437) | (6,737) | (6,505) | (7,001) |
Operating costs | (331,998) | (79,288) | (81,056) | (78,785) | (92,869) | (87,250) | (85,876) |
OPERATING PROFIT (LOSS) | 984,477 | 247,715 | 250,244 | 246,968 | 239,550 | 242,026 | 229,200 |
Net impairment losses on loans and provisions for guarantees and commitments | (2,088) | (260) | (1,429) | (985) | 586 | (874) | (1,698) |
NET OPERATING PROFIT (LOSS) | 982,389 | 247,455 | 248,815 | 245,983 | 240,136 | 241,152 | 227,502 |
Other charges and provisions | (44,873) | (38,110) | 457 | (3,539) | (3,681) | (3,806) | (3,915) |
Net income from investments | 1,768 | 399 | 582 | 817 | (30) | (961) | (53) |
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS | 939,284 | 209,744 | 249,854 | 243,261 | 236,425 | 236,385 | 223,534 |
Income tax for the period | (286,999) | (62,738) | (76,540) | (73,586) | (74,135) | (72,194) | (69,888) |
NET PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS | 652,285 | 147,006 | 173,314 | 169,675 | 162,290 | 164,191 | 153,646 |
PROFIT (LOSS) FOR THE PERIOD | 652,285 | 147,006 | 173,314 | 169,675 | 162,290 | 164,191 | 153,646 |
NET PROFIT (LOSS) FOR THE PERIOD ATTRIBUTABLE TO THE PARENT COMPANY | 652,285 | 147,006 | 173,314 | 169,675 | 162,290 | 164,191 | 153,646 |
FINECOBANK RATING
Long term debt | Short term debt | Outlook | |
S&P GLOBAL RATING | BBB+ | A-2 | Stable |
TOTAL NET SALES PER AREA AS OF JUNE 30TH, 2025 (IN THOUSANDS €)
Area | Total Net Sales 1H25 | AuM Net Sales 1H25 |
Lombardia | 2,166,558 | 772,559 |
Emilia Romagna | 620,726 | 264,112 |
Veneto | 603,529 | 264,631 |
Lazio | 540,553 | 122,334 |
Campania | 491,007 | 184,036 |
Piemonte | 485,962 | 233,585 |
Toscana | 437,527 | 218,412 |
Sicilia | 256,650 | 131,769 |
Liguria | 224,737 | 89,399 |
Puglia | 164,672 | 79,407 |
Others | 640,184 | 256,671 |
Grand Total | 6,632,104 | 2,616,916 |
MAIN DEFINITIONS
q/q: means current quarter versus previous quarter
y/y: means current period versus the same period of the previous years
Total Financial Asset (TFA): sum of Assets Under Management, Assets Under Custody and Direct Deposits
Cost/income ratio: is calculated on reclassified income statement as the ratio of Operating costs item and Revenues item
Cost of risk: is calculated as the ratio of net impairment losses of loans to customers in the last 12 months, includes only loans to ordinary customers, and loans to ordinary customers (average of the averages of the last four quarters, calculated as the average balance at the end of the quarter and the balance at the end of the previous quarter)
Ratio between the amount of non-performing loans and total loans to ordinary customers: is calculated as the ratio of non-performing loans net of impairment provision and loans to ordinary customers net of impairment provision
Coverage ratio: is calculated as the ratio of the amount of the impairment provision and the gross exposure
DISCLAIMER
This Press Release may contain written and oral "forward-looking statements", which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of FinecoBank
S.p.A. (the "CompanyBank"). There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of future performance. The CompanyBank undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable law. The information and opinions containe d in this Press Release are provided as at the present date and are subject to change without notice. Neither this Press Release nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision.
The information, statements and opinions contained in this Press Release are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States or in the Other Countries. This Press Release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in the Other Countries.
Declaration of the Manager in Charge of preparation of the Financial Reports
The undersigned Erick Vecchi, as Manager in charge of preparation of FinecoBank S.p.A.'s Financial Reports,
DECLARES
in compliance with the provisions of the second paragraph of Article 154-bis of the "Consolidated Finance Act", that the accounting information contained in this press release corresponds to results in the accounts, books and records.
Milan, July 30th2025
The Nominated Official in charge of drawing up company accounts
Enquiries
Fineco - Media Relations Fineco - Investor Relations
Tel.: +39 02 2887 2256 Tel. +39 02 2887 2358
mediarelations@finecobank.com investors@finecobank.com
Barabino & Partners Tel. +39 02 72023535
Emma Ascani e.ascani@barabino.it
+39 335 390 334