FinecoBank SpA (STU:ZS3)
€ 15.265 0.12 (0.79%) Market Cap: 9.40 Bil Enterprise Value: 7.13 Bil PE Ratio: 14.61 PB Ratio: 4.24 GF Score: 81/100
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Q1 2023 FinecoBank Banca Fineco SpA Earnings Call Transcript

May 09, 2023 / 12:00PM GMT
Release Date Price: €12.84 (-4.64%)
Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the FinecoBank First Quarter 2023 Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Alessandro Foti, CEO of FinecoBank. Please go ahead, sir.

Alessandro Foti
FinecoBank Banca Fineco S.p.A. - CEO, GM & Executive Director

Good afternoon, everyone, and thank you for joining our first quarter 2023 results conference call. As you know, our new dimensional growth is further underpinned by the new structure of interest rates. Thanks to this, adjusted net profit in the first quarter of 2023 was equal to EUR 147 million, up by 19% year-on-year and plus 61%, excluding first quarter 2022 profits from treasury management. Adjusted revenues at EUR 294 million, increasing by 15% year-on-year and mainly supported by net financial income with net interest income increasing by 165% year-on-year, which is sustained by our clients very sticking valuable transactional liquidity -- the growth of revenues has been also

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