CheBanca! Board of Directors’ Meeting Results for nine months ended 31 March 2019 approved

CheBanca! Board of Directors’ Meeting
Results for nine months ended 31 March 2019 approved

TFAs increase to €25bn (up 10% in 9M; up 7% in 3M)
with all components growing over all time horizons
AUM/AUA €9.8bn, up 16% in 9M, up 10% in 3Q
Deposits €15.2bn, up 7% in 9M, up 5% in 3Q

Net new money €2.3bn, raising capacity accelerating sharply
€0.6bn in 1Q, €0.4bn in 2Q, €1.3bn in 3Q
driven by brand and distribution enhancement
Affluent relationship managers now total 431 (up 5% Y.o.Y.), responsible for €1.3bn of NNM
Financial advisors now total 319 (up 57% Y.o.Y.), responsible for €1bn of NNM

70k new clients acquired (27k in 3Q alone), 40% of which through digital channels

Revenues and gross profit growing
Revenues up 2% Y.o.Y.  to €220m, well diversified between net interest income (€157m) and fees €62m (up 10%)
Costs broadly stable at €175m (up 0.5% Y.o.Y.) despite network enhancement and expansion in operations
Gross profit up 20% Y.o.Y. to €36.4m
3Q revenues and gross profit stable vs 2Q at €74m and €13m respectively