FinecoBank Banca is an Italian online bank that was founded in 1999 and is specialized in providing banking services via its website and mobile app to individual customers, companies, professionals and institutional investors.
The bank offers a wide range of services such as current accounts, debit cards, credits cards, savings accounts, investments and insurance products. Fineco's services are designed to be simple and user-friendly so that customers can easily manage their finances with minimum effort.
The bank has operations across Italy and claims to have more than 1.5 million customers. It also has offices in some other European countries including the UK, France and Germany. In addition to this, it offers foreign exchange services which allow customers to make payments and transfers in multiple currencies.
Over the past 20 years, the company’s share price has experienced a number of highs and lows as it adjusted to changing market conditions.
The bank’s shares began trading on the Milan Stock Exchange in February 2000 and reached an all-time high of €13.94 in October 2007. The following year, however, the banking sector suffered due to the global financial crisis causing Fineco’s shares to fall significantly before recovering later in 2009.
Since then, the share price had steadily grown until April 2020 when it reached its all-time high of €20.63 due to strong investor confidence in the company's potential for future growth. As of March 2020, FinecoBank Banca share is trading around 15 EUR.
FinecoBank Banca has a number of competitors in the Italian online banking sector. These include, but are not limited to, UniCredit Bank Italia, Intesa Sanpaolo and UBI Banca. Other players in the space include Saxo Bank, Deutsche Bank and Barclays Bank.
Each of these companies offer similar services such as current accounts, debit cards, credits cards and savings accounts as well as additional products such as investments and insurance. They also have different levels of availability across Italy. For example, while some may have branches in all major cities, others may only have branches in certain areas.
The competition in this sector is intense due to the variety of offerings available from each company. As such, FinecoBank Banca must continually strive to maintain its competitive edge by providing customers with the best service possible in order to remain at the top of their game.
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