PRESS RELEASE
FinecoBank, capital ratios well above the SREP requirements assigned by Bank of Italy
Milan, March 23rd, 2022
Following the Supervisory Review and Evaluation Process (SREP), Bank of Italy has communicated the minimum capital requirements for the FinecoBank Group, binding from 31 March 20221.
FinecoBank Group shall respect the following capital requirements:
- 8.12% of CET1 Ratio
- 10.00% of T1 Ratio
- 12.50% of Total Capital Ratio
The above capital ratios include the Combined Buffer Requirement (CBR) to be met with CET1 instruments, composed by 2.50% Capital Conservation Buffer (CCB) and 0.005% Countercyclical Capital Buffer (CCyB)2.
As of 31 December 2021, FinecoBank Group capital ratios stood at:
- 18.80% CET1 Ratio
- 29.63% T1 Ratio and Total Capital ratio
Please note that as of January 1st, 2022, the direct supervisory responsibility over FinecoBank, as a Significant Institution, has been assigned to the European Central Bank.
1 First reference date of own funds reporting after the date of receiving the notice.
2 CCyB as of 31 December 2021. The CCyB depends on the Group's exposure towards the countries where countercyclical buffer rates are or will be set, therefore it may vary on a quarterly basis.
FinecoBank
FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers a business model that is unique in Europe, combining the best platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, on transactional and advisory platforms developed with proprietary technologies. Fineco is a leading bank in brokerage in Europe, and one of the most important players in Private Banking in Italy, offering advanced and tailor-made advisory services. Since 2017, FinecoBank has also been in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with a mission to develop investment solutions in partnership with top international asset managers.
Contact info: | |
Fineco - Media Relations | Fineco - Investor Relations |
Tel.: +39 02 2887 2256 | Tel. +39 02 2887 3736/2358 |
mediarelations@finecobank.com | investors@finecobank.com |
Barabino & Partners | |
Tel. +39 02 72023535 | |
Emma Ascani | |
e.ascani@barabino.it | |
+39 335 390 334 |
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Finecobank S.p.A. published this content on 23 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2022 14:46:03 UTC.