FinecoBank inflows up 48% y/y
Italy’s FinecoBank, UniCredit Group’s online bank, posted €2.77bn net inflows between January and September 2014, +48% y/y.
The inflows into asset management products led the positive result, reaching €2.16bn since the start of the year, +13.5% y/y.
Having started to trade on Borsa Italiana in July, FinecoBank also said it has gained 75,000 new clients in the first nine months of 2014, 17% up compared with the same period last year.
In September only, total net inflows was of €156m, +92% up compared with September 2013, Fineco also said.
Alessandro Foti, CEO and general director at Fineco, said the positive result confirms the firm’s clients attention to the advisory services.