FinecoBank Banca Fineco (FBK) investor relations material

Executive summary

• Adjusted net profit for H1 2026 rose 8% year-on-year to €343.3 million, with revenues up 10.8% to €713.8 million, driven by all product areas including Investing (+11.0%), Brokerage (+15.2%), and Banking (+8.5%).

• Net sales for H1 2026 were €8.9 billion (+34.8% y/y), with July net sales estimated at €1.7 billion (+40% y/y); new clients increased 25.9% y/y to 126,000, with July new clients up 40% y/y.

• Total financial assets reached €175.2 billion (+18.5% y/y), with strong growth in client base and advisory network.

• Signed a four-year exclusive partnership with CNP Assicura for life insurance distribution, enhancing product quality and margins.

• Integrated advanced AI tools into advisory and brokerage platforms, improving client engagement and operational efficiency.

Financial highlights

• Net financial income grew 7.7% y/y to €339.4 million; net non-financial income rose 13.5% y/y to €375.1 million.

• Operating costs were €192.8 million (+11.4% y/y), with a cost/income ratio at 27%.

• Gross operating profit increased 10.6% y/y to €521.0 million.

• Cost of risk at 7 basis points, expected to remain between 5 and 10 basis points.

• Loans to customers at €6.43 billion (+4.1% y/y); non-performing loans ratio at 0.10% with 81.1% coverage.

Outlook and guidance

• Upgraded 2026 and 2029 outlooks, expecting all business areas to contribute to revenue growth, supported by positive deposit net sales and higher rates.

• Operating costs projected to grow ~6% y/y, excluding €15–20 million for growth initiatives and pan-EU platform.

• Payout ratio for 2026 expected between 70–80%; leverage ratio goal above 4.5%.

• Cost/income ratio expected to remain comfortably below 30%.

• Continued focus on capital-light, low-risk, and sustainable organic growth.