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A record November for Fineco
The month of November 2023 proved to be extraordinary for Fineco, with net inflows of 941 million euros, an increase of 228% compared to 287 million euros in the same month of the previous year. This result brings total net inflows to 8.9 billion euros since the beginning of the year, already exceeding the total figure for the entirety of 2023. A clear sign of the bank’s strength and growth, which continues to win the trust of
savers.
New customers and growing assets
In addition to net inflows, Fineco recorded another significant milestone: the number of new customers reached 14,574 units, the second best result ever for the bank. This brings the total number of customers to 1,646,100, an increase of 27% compared to the previous year.
The group’s total assets rose to 139.7 billion euros, up from 118.7 billion euros in November 2022, showing an increase of 18%.
Performance of Private Banking and Asset Management
Particularly significant is the growth in the assets of Private Banking, which went from 53.5 billion euros to 68.1 billion euros (+ 27%). The asset mix also showed positive results, with a managed component reaching 387 million euros, compared to 214 million euros in November 2022. Fineco Asset Management’s retail inflows contributed 396 million euros, despite outflows from insurance products, which recorded a — 92 million
euros.
Innovation and financial advice
Fineco’s success is also attributable to the fundamental role of financial advisors, who continue to support customers in planning their savings. Alessandro Foti, Chief Executive Officer and General Manager of Fineco, emphasized that the positive data for November confirm the bank’s growth path, highlighting the importance of an open platform that benefits from the contribution of Fineco Asset Management.
The growing interaction of savers with financial markets has fostered an increase in brokerage, with revenues estimated at around 20 million euros for the month of November and a total of 199 million euros since the beginning of the year (+ 12% y/y).
