Fineco Bank reports strong growth momentum in Q1 2021

FinecoBank, an Italian bank that specializes in online brokerage, has revealed its trading results for the first quarter of 2021 ended on 31 March 201.

The company reported that it has managed to preserve strong growth momentum for the quarter.

In the official announcement, Fineco announced that net profit increased during Q1. The brokerage attributes the growth in this section to its diversified business model. The company registered €94.7 million, up by 2.7% compared to the same period the previous year.

FinecoBank reports strong growth momentum in Q1 2021

Revenues during Q1 reached €218.2 million marking an 8.4% rise year-on-year. Gross operating profit rose 7.2% on yearly basis to €144.5 million.

Alessandro Foti, CEO and General Manager of FinecoBank, stated:

Alessandro Foti, FinecoBank

Alessandro Foti

We’re very satisfied about these quarterly results which strongly underline the change of pace in Fineco’s growing path. A turning point based on extreme solidity and sustainability driven by the fast acceleration of the structural trends shaping Italian society, among which digitalization stands out.

Foti continued:

We are fully engaged in leveraging on the great growth opportunities offered by our digital DNA based platform, positioned in the best way to offer an excellent service level based on efficiency, transparency and constant innovation.

Disclaimer: The content of this article is sponsored and does not represent the opinions of LeapRate

Read Also: