Funding and rating
Our funding strategy has changed and diversified significantly over the years. Bond issues now account for less than half of our funding, compared with more than 60% in 2005, in 2008 we launched CheBanca! to access retail deposits
Overall about 55% of our funding now comes from retail investors: 11% from our bonds sold to retail customers, while 44% of our funding is raised from Wealth Management deposit.
Our dedicated Products issued website contains all the details for our issues (prospectuses, types, maturities, recipients, etc.).
(December 2020)
Funding characteristics:
- Well diversified funding structure: 55% retail (11% bonds, 44% WM deposits) and 45% institutional (23% bonds, 11% ECB, 11% banks and other)
- MB bonds totaling €18.7bn: €11.4bn senior, €2.0bn T2, €0.5bn SNP, €3.8bn covered bonds, €1.0bn ABS
- Wealth Management deposits at €24.6bn: €16.0bn Affluent, €8.6bn at PB companies
Mediobanca confirmed as one of the leading EU banks in terms of MREL requisites
(Highlights - results at 30 September 2020)
- MREL requirement confirmed at 21.85% of RWA (from 21.6%) for 2021, one of the lowest in EU
- MREL eligible liabilities (~€17.7bn as of September 2020) @37.1% of RWAs with a surplus of 15% of RWAs
Funding and liquidity indicators (at 31 December 2020)
| LCR | NSFR |
|---|---|
| 155% | 107% |
