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 57% of our funding now comes from retail investors:  47% of our bonds are sold to retail customers, while 37% 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 March 2018

bond by type
 
Funding characteristics:
  • Diversified sources of funding
  • Total bonds: 19.7 billion euros (13.6 billion euros of senior, 2.4 billion euros T2 and 3.8 billion euros covered bonds)
  • Wealth Management deposits at € 18.1bn
  • 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. 47% 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. 53% of the bonds issued are placed with institutional investors in the form of private placements and public offerings.

 

Last update: 15/05/2018