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 2020)

The Group delivered solid results in FY 2019-20:

  • revenues were stable at €2.5bn (up 3% net of one-off Covid-19 charges), with NII and fees both up 3% YoY;
  • cost/income ratio 47% (up 1pp); cost of risk 82 bps (up 30 bps YoY);
  • net profit €600m, which, adjusted for non-recurrent items, becomes €887m1 
  • adj. ROTE1 10%;
  • DPS 2020 proposal now zero, in accordance with ECB guidance;
  • sustainability strategy continues to be implemented.
PROFIT AND LOSS ACCOUNT   BALANCE SHEET   OTHER INFORMATION  
Revenues: € 2.5 bn Total assets: € 79 bn S&P rating BBB
GOP: € 949 mln Customer loans: € 47 bn Fitch Rating BBB-
Net profit: € 600 mln Funding: € 55 bn Moody's Baa1
Cost/ income ratio 47% Lending/funding: 85 % Payout 0%
Cost of risk 82 bps TFA € 64 bn Capitalisation: € 5.7 bn
ROTE 10% CETI 16.1% No. of staff: 4,920

1) Adj. net profit: net profit minus items related to Covid-19 crisis, contributions to system funds, writedowns/impairment to investments and securities, and other non-recurring items (income and charges); tax rat normalized to 33% (25% for PB and AM, 2% for PI).

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 35%) and Retail/Private (around 65%) activities. Revenues from equity investments refer primarily to the 13% stake in Assicurazioni Generali (from valuation using the equity method).

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 higly fragmented with a 24 month duration, personal loans rapresent more than half of the toal amount.

Assets managed guarantee us with a stable, profitable and low capital intensity source of revenue.
Total assets amount to around €64 billion, of which roughly 63% are composed of assets managed.

 

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

 


Il tuo browser non è aggiornato!

Aggiornalo per vedere questo sito correttamente.