MILAN (Reuters) - FinecoBank ended the fourth quarter with net income up 22.8 percent to 154.9 million euros and will propose the distribution of a dividend of 0.69 euros per share.

The company sees revenues for 2024 around 2023 levels of about 1.24 billion euros, up 30.5 percent on 2022, a note said.

With its third-quarter accounts, it had forecast 'high-single-digit' investing revenues for 2024.

In the fourth quarter, the financial margin stood at 179.5 million, stable from the previous quarter and up

up 36.4 percent year-on-year.

Net fees and commissions rose 6.4 percent over the third quarter to 127.7 million, and 7.3 percent year-on-year.

Net inflows in January were 580 million, including 79 million in assets under management.

The stock reacted badly to the release of the accounts and, as of 1:30 p.m., gave up 2.37 percent to 12.775 euros against a FTSE Mib index up 0.12 percent.

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(Andrea Mandalà, editing Claudia Cristoferi)