Italy's Fineco Q1 net profit slips on higher tax rate

FinecoBank

07/05/2026 06:47

May 7 - Italian digital bank Fineco FBK.MI reported on Thursday a 1.2% fall in first-quarter net profit to 162.2 million euros ($190.6 million), partly reflecting a higher impact from one of Italy's main corporate levies.

Fineco also said it expects a rise in interest rates to support the growth of its 2026 net financial income.

"Ongoing progress in the integration of artificial intelligence within the advisory platform is aimed at providing our financial advisors with tools able to significantly enhancing service quality, thereby strengthening relationship with customers", CEO Alessandro Foti said in a statement.

April net inflows rose 6% to 1.32 billion euros

Estimated April brokerage revenues stood at 22 million euros

Q1 new clients acquisition rose 17.6% from the year before

Q1 Profit before taxes rose 2% to 241.1 million euros

Q1 total revenues rose 4.1% to 342.9 million euros

Fineco said in March it plans to grow the pace at which it gathers new money by using artificial intelligence and targeting clients from "inefficient" German banks

($1 = 0.8510 euros)

 (Reporting by Philippe Leroy Beaulieu in Gdansk)

 ((Philippe.leroybeaulieu@tr.com))