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.
  12M 12M 12M 12M 12M 12M 12M 12M 12M 12M 12M1  
(€M) 30/06/2016 30/06/2017 30/06/2018 30/06/2019 30/06/2020 30/06/2021 30/06/2022 30/06/2023 30/06/2024 30/06/2025 31/12/2025  
NET INTEREST INCOME 1,207 1,288 1,359 1,396 1,442 1,415 1,479 1,801 1,985 1,972 1,946  
NET FEE INCOME 450 523 622 611 630 745 851 844 939 1072 880  
OTHER REVENUES 390 385 438 518 441 469 521 660 683 675 754  
TOTAL INCOME 2,047 2,196 2,419 2,525 2,513 2,628 2,851 3,305 3,607 3,719 3,581  
OPERATING COSTS -892 -1,024 -1,115 -1,162 -1,189 -1,238 -1,312 -1,413 -1,542 -1,610 -1,560  
LOAN LOSS PROVISIONS -419 -317 -247 -223 -375 -249 -243 -270 -252 -233 -245  
OPERATING PROFIT 736 855 1,057 1,140 949 1,142 1,296 1,621 1,813 1,876 1,775  
OTHER INCOME (LOSSES) 1 59 39 -56 -154 -37 -127 -193 -76 -23 -109  
PROFIT BEFORE TAX 736 914 1,096 1,084 795 1,104 1,169 1,428 1,736 1,852 1,666  
NET PROFIT 605 750 864 823 600 808 907 1,027 1,273 1,330 1,184  

1) 12 months pro-forma reclassified according to the presentation formats adopted by the Parent Company MP

   

  12M 12M 12M 12M 12M 12M 12M 12M 12M 12M 12M1
(€M) 30/06/2016 30/06/2017 30/06/2018 30/06/2019 30/06/2020 30/06/2021 30/06/2022 30/06/2023 30/06/2024 30/06/2025 30/12/2025
EQUITY INVESTMENTS 3,163 3,037 3,211 3,260 3,205 3,703 3,158 3,564 3,789 3,989 4,235
LOANS TO CUSTOMERS 34,739 38,191 41,128 44,394 46,685 48,414 51,701 52,549 52,447 54,344 54,660
FUNDING 46,658 49,121 46,893 51,393 54,917 56,156 61,169 60,506 63,670 70,553 70,770
SHAREHOLDERS’ EQUITY 8,922 9,192 9,732 9,899 9,740 11,101 10,749 11,429 11,243 11,200 11,448
RWAS 53,862 52,709 47,363 46,310 48,030 47,159 50,378 51,432 47,622 46,092 45,867
NO. OF STAFF 4,036 4,798 4,717 4,805 4,920 4,921 5,016 5,227 5,443 5,533 5,533
CT1 RATIO (%) 12.1 13.3 14.2 14.1 16.1 16.3 15.7 15.9 15.2 15.1 16.4
COST/INCOME RATIO (%) 44 47 46 46 47 47 46 43 43 43 44
COST OF RISK (BPS) 124 87 62 52 82 52 48 52 48 44 41

1) 12 months pro-forma reclassified according to the presentation formats adopted by the Parent Company MPS

 

  • In the last decade we have almost doubled our revenues to €3.6bn, 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
EVOLUZIONE DEI RICAVI EN DIC 2025
  • Since 2016, when Mediobanca effectively entered in the WM business, TFAs have almost quadrupled (to €115bn) due to MB Private-Investment Banking model adoption, and significant investment in distribution and acquisitions
EVOLUZIONE DELLE TFA EN DIC 2025
  • In the last 10Y MB loan book increased by more than €20bn to €56bn, becoming more diversified with a higher retail share from 50% to 62% (increased mainly in WM)
  • RWA density reduced from 77% to 43% 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
EVOLUZIONE DEL LIBRO IMPIEGHI EN DIC 2025
  • In the last decade Group funding increased by almost €25bn to €71bn, backed by solid WM deposits growth (from 29% to 43% of Group funding)
  • 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
     
EVOLUZIONE DELLA RACCOLTA EN DIC 2025
  • 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 and CIB k-lighter trend, with solid contribution by CF and INS
EVOLUZIONE DI CET1 EN DIC 2025
  • Increased shareholder remuneration, with a mix of cash dividend and share buy backs
  • Over €6bn distributed in last 10Y, of which €3bn in the last three years
  • In the last decade tangible book value per share has also increased by 30% to €12.2
RENDIMENTI AZIONISTI EN DIC 2025

Long-term results