FinecoBank Sees Rapid Growth in the UK

FinecoBank, a subsidiary of Italian largest lender UniCredit, saw record volumes from its UK client base in the first quarter of this year.

According to the official press release, the multi-currency bank’s current accounts increased by around 50% in April 2021 compared to the end of 2020. This shows that FinecoBank’s strategy to attract quality customers has achieved results in the UK, and now more than 70% of Fineco’s clients hold active current accounts on brokerage.

In Q1 2021, Fineco reported a net profit of €94.7 million, increased by 2.7% from a year earlier. Gross operating profit registered €144.5 million, up by 7.2% compared to the same period in 2020. Additionally, the bank also recorded breaking UK growth with new UK current accounts in the first four months of 2021, surpassing annual 2020 total.

FinecoBank entered the UK market three years ago with a unique offering combining brokerage, banking and investment services.

As Fazzaco previously reported, FinecoBank has announced the expansion of its investment offerings with a series of funds from sustainable investment provider Robeco​. Clients of Fineco can have access to Robeco's extensive range of active investing products, including a number of products focused on the expanding sustainable investing space.