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: 10% from our bonds sold to retail customers, while 45% 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.).
Funding characteristics:
- Well diversified funding structure: 55% retail (10% bonds, 45% WM deposits) and 45% institutional (23% bonds, 15%ECB, 7% banks and other)
- MB bonds totaling €18.8bn: €11bn senior, €1.6bn T2, €1bn SNP, €4.5bn covered bonds, €0.6bn ABS
- Wealth Management deposits at €26.1bn: €17.2bn Affluent, €9bn at PB companies
Mediobanca confirmed as one of the leading EU banks in terms of MREL requisites
(Highlights - results at 31 March 2020)
- MREL requirement confirmed at 21.84% (19.34% + 2.5% CBR) of RWAs for 2021, one of the lowest in EU, not subject to interim target
- MREL own funds and eligible liabilities (~€17.7bn as of Mar 2021) @ 37.2% of RWAs with a surplus of 15.4% of RWAs
- No Subordination requirement for 2021: as of Mar 20, CET1 and sub bonds (including SNP) totalling 20.9% of RWA, 95% of MREL requirement.
Funding and liquidity indicators (at 30 June 2021)
| LCR | NSFR |
|---|---|
| 158% | 116% |
