Funding and rating

Our funding strategy has changed and diversified significantly over the years. Bond issues now account for less than half of our funding, compared with more than 60% in 2005, in 2008 we launched CheBanca! to access retail deposits.

Overall about 58% of our funding now comes from retail investors:  39% of our bonds are sold to retail customers, while 19% of our funding is raised from Wealth Management deposit.

Our dedicated Mediobanca Bond and Certificates Deposits website contains all the details for our issues (prospectuses, types, maturities, recipients, etc.).


Funding characteristics:
  • Diversified sources of funding
  • Total bonds: 19.2 billion euros (13.1 billion euros of senior, 2.4 billion euros T2 and 3.7 billion euros covered bonds)
  • Wealth Management deposits at € 19.1bn
  • Net stable funding ratio (NSFR) and liquidity coverage ratio (LCR) above 100%

The sale of our bonds is well diversified between retail and institutional clients:

  • Approx. 48% of the bonds issued are placed with retail clients, in particular through direct listing on the Mercato delle Obbligazioni Telematico (MOT), through third-party networks (other banks, Poste Italiane, etc.) and via CheBanca!
  • Approx. 52% of the bonds issued are placed with institutional investors in the form of private placements and public offerings.


Last update: 17/09/2018