Mediobanca is a specialised financial group, whose business model is based on synergic, high profit margin and low capital intensity business sectors and in which the group boasts a solid competitive position.

  • Since 2016, we have cemented our position in the Italian Wealth Management market, which offers significant long-term growth opportunities. We serve Affluent customers with CheBanca! and HNWI and UHNWI customers with Mediobanca Private Banking and Compagnie Monégasque de Banque.
  • In Corporate & Investment Banking activities, in which our roots lie, we hold a position of undisputed leader in Italy. We offer companies high-quality Advisory, Lending, Capital Market and Specialty Finance solutions. We have also established a consolidated presence abroad, in Spain and France in particular.
  • Since our foundation, we have been present in the Consumer Banking market, where our subsidiary Compass Banca is one of the three main operators in Italy.

The 2019-2023 business plan forecasts further growth of the group and in the returns for all stakeholders, thanks to the effective and unique business model, albeit in a macroeconomic scenario that is expected to be challenging for the whole financial sector.

Highlights (annual consolidated results at 30 June 2021)

The Group delivered solid results in FY 2020-21:

  • revenues up 5% to €2.6bn, with record fee income (+18% a/a) and resilient NII (-2% a/a);
  • cost/income ratio flat at  47%; significant drop in cost of risk, back to pre-Covid level at 52bps (down 30 bps YoY);
  • net profit €808m (+35% YoY);
  • adj. ROTE1 9%;
  • DPS 2021 at €0.66, equivalent to 70% cash payout;
  • sustainability strategy continues to be implemented.
PROFIT AND LOSS ACCOUNT   BALANCE SHEET   OTHER INFORMATION  
Revenues: € 2.6 bn Total assets: € 83 bn S&P rating BBB
GOP risk adj: € 1,142 mln Customer loans: € 48 bn Fitch Rating BBB-
Net profit: € 808 mln Funding: € 56 bn Moody's Baa1
Cost/ income ratio 47% Lending/funding: 86 % Payout 70%
Cost of risk 52 bps TFA € 71 bn Capitalisation: € 8.7 bn
ROTE 9% CETI 16.3% No. of staff: 4,921

1) ROTE calculated using adjusted net profit (GOP net of loan loss provisions, minority interest and taxes, with taxation normalized at 33%, 25% for PB and AM, 2% for PI).

P12 Ricavi EN

Our structure is based on three complementary and synergic pillars: Asset Management and Private Banking, sectors in which we gradually established a foothold over the last few years and in which we intend to invest further, also through targeted acquisitions; the historical activity of Investment Banking (Corporate & Investment Banking), in which we have a leading position in Italy, with a deeply-rooted presence abroad; Consumer Banking activity, in which we have been pioneers in Italy ever since our foundation.

Our revenues are currently balanced between Corporate/Principal Investing (roughly 40%) and Retail/Private (around 60%) activities. Revenues from equity investments refer primarily to the 13% stake in Assicurazioni Generali (from valuation using the equity method).

P13 RicaviPerProdotto EN

Over the last few years we have diversified our lending, to ensure a balance between corporate and retail.
Corporate loans:

  • in Wholesale Banking, our group concentrates on large corporate, and around half of lending is carried out abroad;
  • our portfolio is diversified by business sector and is increasingly less concentrated;
  • we are not present in FICC activities (fixed income, currencies and commodities), in the process of global restructuring, and nor even in problematic segments/products such as small Italian companies, the shipping market and real estate development.

Retail loans:

  • Consumer Banking accounts for roughly half of retail lending, with the remainder primarily residential mortgages;
  • Consumer lending loan book is highly fragmented with a 24 month duration, personal loans rapresent more than half of the toal amount.
P14 ImpiegiPerDivisioni EN
  • TFA around €75bn as at September 2021
  • AUM/AUA around 65% of TFA
  • Wealth Management deposits at € 26bn

 

P16 MasseGestione EN
  • Portfolio optimised by dimension and composition
  • Prudent risk management based on the selection of high quality assets

 

P16 PortafoglioTitoli EN

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