Mediobanca is a specialised financial group, whose business model is based on synergic, high profit margin and low capital intensity business sectors and in which the group boasts a solid competitive position.

  • Since 2016, we have cemented our position in the Italian Wealth Management market, which offers significant long-term growth opportunities. We serve Affluent customers with Mediobanca Premier and HNWI and UHNWI customers with Mediobanca Private Banking and Compagnie Monégasque de Banque.
  • In Corporate & Investment Banking activities, in which our roots lie, we hold a position of undisputed leader in Italy. We offer companies high-quality Advisory, Lending, Capital Market and Specialty Finance solutions. We have also established a consolidated presence abroad, in Spain and France in particular.
  • Since our foundation, we have been present in the Consumer Finance market, where our subsidiary Compass Banca is one of the three main operators in Italy.

The 2023-2026 business plan forecasts further growth of the group and in the returns for all stakeholders, thanks to the effective and unique business model, albeit in a macroeconomic scenario that is expected to be challenging for the whole financial sector.

Highlights (annual consolidated results at 30 June 2024)

The Group delivered solid results in FY 2023-24:

  • Revenues up 9% YoY to an all-time high of €3.6bn, mainly driven by k-light activities
  • TFAs up to roughly €100bn (up 13% YoY) and RWAs down to €48bn (down 7% YoY)
  • Cost/income ratio flat at 43%; cost of risk down to 48bps
  • Net profit at €1,273m (up 24% YoY), with EPS at €1.53 (up 27% YoY)
  • ROTE1 at 14% (up 1pp YoY) and RoRWA at 2.7% (up 30bps YoY)
  • Total DPS at €1.07 (up 26% YoY), equivalent to 70% cash payout, of which €0.51ps of interim dividend already paid in May24 and  €0.56ps of final balance to be paid in Nov24
  • Good start to Strategic Plan Sustainability and Responsible Banking pathway
PROFIT AND LOSS ACCOUNT PROFIT AND LOSS ACCOUNT Value BALANCE SHEET BALANCE SHEET Value OTHER INFORMATION OTHER INFORMATION Value
Revenues: € 3.6 bn Total assets: € 99.2 bn S&P rating BBB
GOP risk adj: € 1.8bn Customer loans: € 52.4 bn Fitch Rating BBB
Net profit: €1,273 mln Funding: € 63.7 bn Moody's Baa1
Cost/ income ratio 43% Lending/funding: 87 % Payout 70%
Cost of risk 52 bps TFA € 82 bn Capitalisation: € 11.4 bn
ROTE 14% CETI 15.2% No. of staff: 5,443

1) ROTE calculated using adjusted net profit (GOP net of loan loss provisions, minority interest and taxes, with taxation normalized at 33%, 25% for PB and AM, 4.16% for INS).

P12 Ricavi EN

Our structure is based on three complementary and synergic pillars: Asset Management and Private Banking, sectors in which we gradually established a foothold over the last few years and in which we intend to invest further, also through targeted acquisitions; the historical activity of Investment Banking (Corporate & Investment Banking), in which we have a leading position in Italy, with a deeply-rooted presence abroad; Consumer Banking activity, in which we have been pioneers in Italy ever since our foundation.

Our revenues are currently balanced between corporate/insurance (roughly 40%) and Retail/Private (around 60%) activities. Revenues from equity investments refer primarily to the 13% stake in Assicurazioni Generali (from valuation using the equity method).

P13 RicaviPerProdotto EN

Over the last few years we have diversified our lending, to ensure a balance between corporate and retail.
Corporate loans:

  • in Wholesale Banking, our group concentrates on large corporate, and around half of lending is carried out abroad;
  • our portfolio is diversified by business sector and is increasingly less concentrated;
  • we are not present in FICC activities (fixed income, currencies and commodities), in the process of global restructuring, and nor even in problematic segments/products such as small Italian companies, the shipping market and real estate development.

Retail loans:

  • Consumer Banking accounts for roughly half of retail lending, with the remainder primarily residential mortgages;
  • Consumer lending loan book is highly fragmented with a 24 month duration, personal loans rapresent more than half of the toal amount.
P14 ImpiegiPerDivisioni EN
  • TFA around €99bn as at June24
  • AUM/AUA over 70% of TFA
  • Wealth Management deposits at €27.9bn
P16 MasseGestione EN
  • Portfolio optimised by dimension and composition
  • Prudent risk management based on the selection of high quality assets

 

P16 PortafoglioTitoli EN