Mediobanca Group
Stronger after the crisis due to our specific strengths

2016-19 strategic plan
Step up strategic reshaping
of MB group

Divisional objectives and targets

CORPORATE & INVESTING BANKING
Further increase profitability: ROAC up to 13%

For the period-end (30 June 2019) the CIB division has set the following objectives:

  • GOP net of cost of risk: €430m (€340m, CAGR: +7%)
  • ROAC: 13% (9%)
  • Customer loans: €18bn (€15bn, CAGR +6%) with growth in the Capital Market Solutions segment in particular, cost of risk 45 bps
  • RWAs: €25bn (€27bn), reflecting benefits of AIRB model for large corporate segment.
     

CONSUMER BANKING (CB)
Keep growing: ROAC up to 20%

The above actions, along with the proven effectiveness of the credit pricing/management/recovery system, will drive a further reduction in the cost of risk.

For the period-end (30 June 2019) the CB division has set the following objectives:

  • GOP net of cost of risk: €330m (€245m, CAGR: +10%)
  • ROAC: 20% (16%)
  • Customer loans: €12.6bn (€11bn, CAGR +5%), cost of risk 270 bps (330 bps)
  • RWAs: €12bn (€11bn), including AIRB benefits
 

WEALTH MANAGEMENT
Create a visible and profitable WM player Sizeable contribution to Group results expected ROAC up to 20%

For the period-end (30 June 2019) the WM division has set the following objectives:

  • GOP net of cost of risk: €140m (€50m, with CAGR +40%)
  • ROAC: 20% (8%)
  • TFA: €79bn (€57bn, CAGR +12%)
  • AUM: €59bn (€38bn, CAGR +15%), €12bn of which attributable to CheBanca!
  • RWAs: €6bn (€6bn) including the benefits from adoption of AIRB models for mortgages.
     

PRINCIPAL INVESTING
Equity stake disposals to continue (€1.3bn)
ROAC 12%
 

For the period-end (30 June 2019) the PI division has set the following objectives:

  • Disposals of equity stakes worth €1.3bn, consisting of €0.6bn in AFS shares and 3 percentage points of the Assicurazioni Generali holding (MB stake in Assicurazioni Generali reduces from 13% to 10%)
  • GOP: €225m (€280m), contribution to Group results halving to 22%
  • RWAs: €2bn (€7bn)
  • ROAC: 12% (17%)
     

Final notes

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