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 Mediobanca Premier to access retail deposits.
Overall about 56% of our funding now comes from retail investors: 12% from our bonds sold to retail customers, while 44% of our funding is raised from Wealth Management deposit.
Our dedicated Products issued website contains all the details for our issues (prospectuses, types, maturities, recipients, etc.).
- Well diversified funding structure: 56% retail (12% bonds, 44% WM deposits) and 44% institutional (31% securities, 13% banks and other)
- MB securities totaling €31.3bn: €19.7bn senior preferred&Certificates, €1.5bn SNP, €1.5bn T2, €8.6bn secured
- Wealth Management deposits at €31.1bn: €18.8bn Premier, €12.3bn Private Banking
MREL requirement for 2025 among the lowest in EU:
- 23.92% RWA
- 5.91% LRE (Leverage Ratio Exposure)
- MREL own funds and eligible liabilities (~19.6bn as of Jun25) @ 42.6% of RWAs with a surplus of ~19% of RWAs vs MREL requirement
- ~89% of MREL requirement covered by own funds and subordinated debt
- SNP and T2 issuance in last 4Y (€1.5bn SNP and €900m T2 issued since Jun21)
Funding and liquidity indicators (at 30 06 2025)
| LCR | NSFR |
|---|---|
| 165% | 117% |