FinecoBank SpA: Management Meeting Takeaways

Goldman Sachs hosted a meeting with FinecoBank's CEO, highlighting confidence in sustaining high client acquisition growth and net sales through 2029.

Key Takeaways

• 1.Management remains confident in the sustainability of net sales and client acquisition momentum, targeting low double-digit CAGR over 2025-29.
• 2.Securities lending is viewed as a significant medium-term opportunity, with efficiency acting as a key differentiator.
• 3.The company is identifying new monetization levers for ETFs, including securities lending participation and platform fees for issuers.

Table of Contents

• Key takeaways
• Valuation and risks
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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