(Alliance News) - FinecoBank Spa reported robust net inflows of EUR648 million in August from EUR343 million a year ago, confirming the acceleration of the bank's growth path thanks to both the acquisition of new clients and a solid push into investments.

The asset mix sees the managed component positive by EUR157 million, about half of which refers to Fineco Asset Management's retail inflows, which once again demonstrates its ability to intercept outflows from insurance, limited in August to a EUR95 million contraction.

The administered component amounted to EUR1 billion, while direct deposits stood at minus EUR517 million: the figure is composed of cash inflows--net transfers, salaries and pensions--of EUR2.3 billion before fees, taxes and investments in administered and managed made within the Fineco platform.

Brokerage revenues are estimated at EUR15 million for August, a figure up about 40 percent from the average August revenues between 2017 and 2019. Since the beginning of the year, brokerage revenues are estimated at about EUR126 million.

FinecoBank trades in the red by 2.6 percent at EUR12.30 per share.

By Maurizio Carta, Alliance News reporter

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