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: 16% of our bonds are sold to retail customers, while 42% 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 COMPOSITION as at December 2018
- Well diversified funding structure: 58% retail (16% bonds, 42% WM deposits) and 42% institutional (22% bonds, 8% ECB, 12% banks and other)
- MB bonds totaling €19.2bn: €11.9bn senior, €2.4bn T2, €3.7bn covered bonds, €1.2bn ABS
- Wealth Management deposits at €21.2bn: €14.4bn at CheBanca!, €6.8bn at PB companies