Full Year 2022 FinecoBank Banca Fineco SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the FinecoBank Full Year 2022 Results Conference Call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Alessandro Foti, CEO of Fineco. Please go ahead, sir.
Good afternoon, everyone, and thank you for joining our 2022 results conference call. As you know our new dimensional growth is further underpinned by the new structure of the interest rates. Thanks to this, adjusted net profit in 2022 reached a new record level at EUR 429 million, up by 23% year-on-year. Adjusted revenues at EUR 948 million increasing by 18% year-on-year and mainly supported by investing, thanks to the volume effect in the higher control of the value chain by Fineco Asset Management and by net financial income, which is sustained by our clients very sticky and valuable transactional liquidity and not driven by lending.
Operating costs were under control at
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