FinecoBank’s AUM up 46%
Italy’s FinecoBank, UniCredit group’s online bank, posted €2.6bn total net inflows in the period between January and August 2014.
The result hit a 46% plus compared with the same period of 2013.
Of the total net inflows, €2.3bn came from the network of financial advisers that works for FinecoBank, +26% compared with the first eight months of 2013
The company also said that in August total net inflows were of €256m, €248m of which also came from the financial adviser network.
Looking at its client basis, FinecoBank also said that it gained some 66,000 new clients from the start of the year to the end of August, which brought the total to 938,000, +14% compared with the same period of 2013.
Alessandro Foti, CEO and general director at Fineco, said: “The August’s result confirms the growth trend that we’ve seen over the last months. The numbers confirm that Italians continue saving and investing.
“Our banking network model is proving to be successful as it offers an increasingly targeted and professional advisory services to our clients.”