Performance over the last 10 years

Over the last ten years, the revenues doubled with solid growth in the k-light component. Loan book and funding increased significantly and now are more diversified.

The excellent performances over the last 10 years are the result of the process, launched in 2003, of in-depth evolution of Mediobanca, which transformed the group from a holding company to a highly specialised financial operator, with higher focus on k-light activities.
(€M) JUN15 JUN16 JUN17 JUN18 JUN19 JUN20 JUN21 JUN22 JUN23 JUN24 JUN25
NET INTEREST INCOME 1143 1207 1288 1359 1396 1442 1415 1479 1801 1985 1972
NET TREASURY INCOME 207 133 121 157 197 136 197 162 206 172 178
NET FEE INCOME 472 450 523 622 611 630 745 851 844 939 1072
EQUITY-ACCOUNTED COMPANIES 224 257 264 280 321 304 272 359 454 510 497
TOTAL INCOME 2045 2047 2196 2419 2525 2513 2628 2851 3305 3607 3719
OPERATING COSTS -847 -892 -1024 -1115 -1162 -1189 -1238 -1312 -1413 -1542 -1610
LOAN LOSS PROVISIONS -533 -419 -317 -247 -223 -375 -249 -243 -270 -252 -233
OPERATING PROFIT 666 736 855 1057 1140 949 1142 1296 1621 1813 1876
OTHER INCOME (LOSSES) 92 1 59 39 -56 -154 -37 -127 -193 -76 -23
PROFIT BEFORE TAX 757 736 914 1096 1084 795 1104 1169 1428 1736 1852
NET PROFIT 590 605 750 864 823 600 808 907 1027 1273 1330
(€M) JUN.15 JUN.16 JUN.17 JUN.18 JUN.19 JUN.20 JUN.21 JUN.22 JUN.23 JUN.24 JUN.25
NET INTEREST INCOME 1143 1207 1288 1359 1396 1442 1415 1479 1801 1985 1972
NET TREASURY INCOME 207 133 121 157 197 136 197 162 206 172 178
NET FEE INCOME 472 450 523 622 611 630 745 851 844 939 1072
EQUITY-ACCOUNTED COMPANIES 224 257 264 280 321 304 272 359 454 510 497
TOTAL INCOME 2045 2047 2196 2419 2525 2513 2628 2851 3305 3607 3719
OPERATING COSTS -847 -892 -1024 -1115 -1162 -1189 -1238 -1312 -1413 -1542 -1610
LOAN LOSS PROVISIONS -533 -419 -317 -247 -223 -375 -249 -243 -270 -252 -233
OPERATING PROFIT 666 736 855 1057 1140 949 1142 1296 1621 1813 1876
OTHER INCOME (LOSSES) 92 1 59 39 -56 -154 -37 -127 -193 -76 -23
PROFIT BEFORE TAX 757 736 914 1096 1084 795 1104 1169 1428 1736 1852
NET PROFIT 590 605 750 864 823 600 808 907 1027 1273 1330

   

0 JUN15 JUN16 JUN17 JUN18 JUN19 JUN20 JUN21 JUN22 JUN23 JUN24 JUN25
TREASURY, AFS AND HTM 14777 16322 16455 13327 12734 13760 14418 16685 16293 18677 22233
EQUITY INVESTMENTS 3411 3163 3037 3211 3260 3205 3703 3158 3564 3789 3989
LOANS TO CUSTOMERS 32890 34739 38191 41128 44394 46685 48414 51701 52549 52447 54344
FUNDING 42711 46658 49121 46893 51393 54917 56156 61169 60506 63670 70553
SHAREHOLDERS’ EQUITY 8169 8922 9192 9732 9899 9740 11101 10749 11429 11243 11200
RWAS 59577 53862 52709 47363 46310 48030 47159 50378 51432 47622 46092
NO. OF STAFF 3790 4036 4798 4717 4805 4920 4921 5016 5227 5443 5533
CT1 RATIO (%) 12 12,1 13,3 14,2 14,1 16,1 16,3 15,7 15,9 15,2 15,1
COST/INCOME RATIO (%) 41 44 47 46 46 47 47 46 43 43 43
COST OF RISK (BPS) 168 124 87 62 52 82 52 48 52 48 44
  JUN.15 JUN.16 JUN.17 JUN.18 JUN.19 JUN.20 JUN.21 JUN.22 JUN.23 JUN.24 JUN.25
TREASURY, AFS AND HTM 14777 16322 16455 13327 12734 13760 14418 16685 16293 18677 22233
EQUITY INVESTMENTS 3411 3163 3037 3211 3260 3205 3703 3158 3564 3789 3989
LOANS TO CUSTOMERS 32890 34739 38191 41128 44394 46685 48414 51701 52549 52447 54344
FUNDING 42711 46658 49121 46893 51393 54917 56156 61169 60506 63670 70553
SHAREHOLDERS’ EQUITY 8169 8922 9192 9732 9899 9740 11101 10749 11429 11243 11200
RWAS 59577 53862 52709 47363 46310 48030 47159 50378 51432 47622 46092
NO. OF STAFF 3790 4036 4798 4717 4805 4920 4921 5016 5227 5443 5533
CT1 RATIO (%) 12 12,1 13,3 14,2 14,1 16,1 16,3 15,7 15,9 15,2 15,1
COST/INCOME RATIO (%) 41 44 47 46 46 47 47 46 43 43 43
COST OF RISK (BPS) 168 124 87 62 52 82 52 48 52 48 44
  • In the last decade we have doubled our revenues to €3.7bn, consistently achieving our targets
  • All business segments have been enlarged, contributing positively to growth and profitability
  • Revenue quality enhanced by broader diversification and growing contribution from capital-light activities
P20 RicaviGruppo EN
  • Since 2016, when Mediobanca effectively entered in the WM business, TFAs have tripled (to approx. €112bn) due to MB Private-Investment Banking model adoption, and significant investment in distribution and acquisitions
P21 EvoluzioneStrutturaPatrimoniale EN
  • In the last 10Y MB loan book increased by more than €20bn to €54bn, becoming more diversified with a higher retail share from 49% to 62% (increased mainly in WM)
  • RWA density reduced from 84% to 44% due to ongoing capital absorption optimization mainly in CIB
  • The selective and value-driven approach that has always characterized our loan origination policy allowed to maintain a healthy and best-in-class asset quality, without recurring to any large NPL disposal
P22 ImpieghiPerDivisione EN
  • In the last decade Group funding increased by almost €30bn to €71bn, backed by solid WM deposits growth whose contribution to Group funding almost doubled from 28% to 43%
  • Access to bond market has always been wide even during crisis periods, with a mix that has evolved over time in favour of the institutional component
  • Reliance on ECB funding has always been contained and zeroed as at June 2025
P22 Indici EN
  • Capital generation has enabled solid CET1 ratios, without capital increases
  • Earnings per share increased steadily due to a combination of organic growth, acquisitions and share buybacks
  • Profitability ramped up sustainably, mainly driven by WM
CrescitaUtile EN
  • Shareholder remuneration increased to ~100% total payout in FY25, with a mix of cash dividend and share buy backs
  • Over €6bn distributed in last 10Y, of which €2.4bn in the first two years of One Brand One Culture plan
  • In the last decade tangible book value per share has also increased by 26% to €11.8
RendimentiAzionisti EN

Long-term results