Performance over the last 10 years
Over the last ten years, the group’s revenues have increased significantly, with greater Corporate/Retail diversification, loans and funding have doubled and are more balanced
The excellent performances over the last 10 years are the result of the process, launched in 2003, of in-depth evolution of Mediobanca, which transformed the group from a holding company to a highly specialised financial operator.
Performance over the last 10 years
(€M) | JUN.11 | JUN.12 | JUN.13 | JUN.14 | JUN.15 | JUN.16 | JUN.17 | JUN.18 | JUN.19 | JUN.20 |
---|---|---|---|---|---|---|---|---|---|---|
NET INTEREST INCOME | 1,070 | 1,070 | 1,028 | 1,087 | 1,143 | 1,207 | 1,288 | 1,359 | 1,396 | 1,442 |
NET TREASURY INCOME | 189 | 267 | 200 | 45 | 207 | 133 | 121 | 157 | 197 | 136 |
FEES AND COMMISSIONS | 520 | 484 | 410 | 424 | 472 | 450 | 523 | 622 | 611 | 630 |
EQUITY-ACCOUNTED COMPANIES | 203 | 170 | -10 | 264 | 224 | 257 | 264 | 280 | 321 | 304 |
TOTAL REVENUES | 1,983 | 1,990 | 1,628 | 1,819 | 2,045 | 2,047 | 2,196 | 2,419 | 2,525 | 2,513 |
ADMINISTRATIVE COSTS | -824 | -789 | -752 | -791 | -847 | -892 | -1,024 | -1,115 | -1,162 | -1.189 |
LOAN LOSS PROVISIONS | -424 | -468 | -507 | -736 | -533 | -419 | -317 | -247 | -223 | -375 |
OPERATING PROFIT | 735 | 732 | 370 | 292 | 666 | 736 | 855 | 1,057 | 1,140 | 949 |
OTHER INCOME (EXPENSE) | -181 | -526 | -392 | 209 | 92 | 1 | 59 | 39 | -56 | -154 |
PROFIT (LOSS) BEFORE TAX | 554 | 206 | -23 | 501 | 757 | 736 | 914 | 1,096 | 1,084 | 795 |
NET PROFIT (LOSS) | 369 | 81 | -176 | 465 | 590 | 605 | 750 | 864 | 823 | 600 |
JUN. 11 | JUN. 12 | JUN. 13 | JUN. 14 | JUN. 15 | JUN. 16 | JUN. 17 | JUN. 18 | JUN. 19 | JUN. 20 | |
---|---|---|---|---|---|---|---|---|---|---|
TREASURY AND SECURITIES AT FV | 18,666 | 22,211 | 21,743 | 19,789 | 14,777 | 16,322 | 16,455 | 13,327 | 12,759 | 13,760 |
EQUITY INVESTMENTS | 3,156 | 3,165 | 2,587 | 2,871 | 3,411 | 3,163 | 3,037 | 3,211 | 3,260 | 3,205 |
CUSTOMER LOANS | 36,226 | 26,310 | 33,455 | 30,552 | 32,890 | 34,739 | 38,191 | 41,128 | 44,394 | 46,685 |
FUNDING | 51,713 | 55,788 | 51,288 | 45,834 | 42,711 | 46,658 | 49,121 | 46,893 | 51,393 | 54,917 |
NET EQUITY | 6,545 | 6,419 | 7,017 | 7,373 | 8,169 | 8,922 | 9,192 | 9,732 | 9,899 | 9,740 |
RWAS | 55,032 | 55,161 | 52,373 | 58,744 | 59,577 | 53,862 | 52,709 | 47,363 | 46,310 | 48,030 |
NO. OF STAFF | 3,452 | 3,506 | 3,505 | 3,570 | 3,790 | 4,036 | 4,798 | 4,717 | 4,805 | 4,920 |
CT1 RATIO (%) | 11.2 | 11.5 | 11.7 | 11.1 | 12 | 12.1 | 13.3 | 14.2 | 14.1 | 16.1 |
COST/INCOME RATIO (%) | 42 | 40 | 46 | 43 | 41 | 44 | 47 | 46 | 46 | 47 |
COST OF RISK (BPS) | 121 | 129 | 145 | 230 | 168 | 124 | 87 | 62 | 52 | 82 |
Effective corporate/retail diversification
- Corporate / Retail* diversification substantially improved: retail business up from 40% to ~70% of Group revenues
- Net interest income, stably grown and diversified in last decade, representing ~55% of total income, fee income ~25%, principal investing (AG) and trading ~20%
- Due to recent acquisitions Retail has gained importance both in fees (~65% of Group) and NII (~80% of Group) contribution
(*) The retail part includes mortgages, private banking and consumer credit; the corporate part includes WB and leasing

Loans and funding have doubled...
- Loans up at highest level ever to €47bn, made up by corporate (€17bn), consumer (€13bn) and mortgages (€10bn)
- Funding optimized to €55bn with MB bonds (€19bn, 37% of which retail), retail deposits and private banking deposits (€24bn), ECB funds (€5.7bn TLTRO)
- NSFR well above 100%, Leverage ratio at 9.7%

… and rebalanced towards a more correct corporate/retail mix
- Loan book: Corporate/retail representing now ~ 45%/ ~ 55%
- Retail loans have increased steadily, while corporate lending stable due to high levels of market liquidity
- Funding retail contribution: 56% of funding from retail investors mainly from deposits
Loans: retail includes mortgages, private banking and consumer credit; corporate includes wholesale and leasing
Funding: retail includes the deposits of CheBanca! and of private banking, MB bonds placed with retail investors; institutional includes MB bonds placed with retail investors, interbank, ECB and other

Long-lasting solidity of the main indicators
