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.

(€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

 

  • 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 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%
  • 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

 

 


Mediobanca Group

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