Performance over the last 10 years

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.

(€M)	JUN.13	JUN.14	JUN.15	JUN.16	JUN.17	JUN.18	JUN.19	JUN.20	JUN.21	JUN.22
NET INTEREST INCOME	1028	1087	1143	1207	1288	1359	1396	1442	1415	1479
NET TREASURY INCOME	200	45	207	133	121	157	197	136	197	162
NET FEE INCOME	410	424	472	450	523	622	611	630	745	851
EQUITY-ACCOUNTED COMPANIES	-10	264	224	257	264	280	321	304	272	359
TOTAL INCOME	1628	1819	2045	2047	2196	2419	2525	2513	2628	2851
OPERATING COSTS	-752	-791	-847	-892	-1024	-1115	-1162	-1189	-1238	-1312
LOAN LOSS PROVISIONS	-507	-736	-533	-419	-317	-247	-223	-375	-249	-243
OPERATING PROFIT	370	292	666	736	855	1057	1140	949	1142	1296
OTHER INCOME (LOSSES)	-392	209	92	1	59	39	-56	-154	-37	-127
PROFIT BEFORE TAX	-23	501	757	736	914	1096	1084	795	1104	1169
NET PROFIT	-176	465	590	605	750	864	823	600	808	907

	JUN.13	JUN.14	JUN.15	JUN.16	JUN.17	JUN.18	JUN.19	JUN.20	JUN.21	JUN.22
TREASURY, AFS AND HTM	21743	19789	14777	16322	16455	13327	12734	13760	14418	16685
EQUITY INVESTMENTS	2587	2871	3411	3163	3037	3211	3260	3205	3703	3158
LOANS TO CUSTOMERS	33455	30552	32890	34739	38191	41128	44394	46685	48414	51701
FUNDING	51288	45834	42711	46658	49121	46893	51393	54917	56156	61169
SHAREHOLDERS’ EQUITY	7017	7373	8169	8922	9192	9732	9899	9740	11101	10749
RWAS	52373	58744	59577	53862	52709	47363	46310	48030	47159	50378
NO. OF STAFF	3505	3570	3790	4036	4798	4717	4805	4920	4921	5016
CT1 RATIO (%)	11,7	11,1	12	12,1	13,3	14,2	14,1	16,1	16,3	15,7
COST/INCOME RATIO (%)	46	43	41	44	47	46	46	47	47	46
COST OF RISK (BPS)	145	230	168	124	87	62	52	82	52	48

Net interest income, stably grown and diversified in last decade, representing ~52% of total income, fee income ~30%, principal investing (AG) and trading ~14%
Corporate / Retail diversification substantially improved: retail business up to >62% of Group revenues
Fee income contribution up from 24% to 30% of total revenue due to Wealth Management development

^{Retail includes mortgages, private banking and consumer banking – Corporate includes wholesale and leasing % calculated on divisional figures, gross of intercompany}

Since the creation of the Wealth Management division in 2016 TFAs has doubled from 32bn to 80bn
Capital-light revenues1 as well doubled and now account for >32% of Group revenues
Loan book has grown steadily reaching €52bn with lower density (RWA/Total asset) due to ongoing capital absorption optimization

^{Loan book: Retail includes mortgages, consumer banking and private banking – Corporate includes wholesale and leasing

Funding: Retail includes CheBanca! and Private banking deposits, MB bond placed to retail investors - Institutional includes MB bonds placed to institutional investors, interbank, ECB and other items}

Since the creation of the Wealth Management division in 2016 TFAs has doubled from 32bn to 71bn (5YCAGR: +18%)
Capital-light revenues¹ as well doubled and now account for >30% of Group revenues
Loan book has grown steadily reaching €50bn (5YCAGR: +7%) with lower density (RWA/Total asset) due to ongoing capital absorption optimization

¹⁾_{^{K-light revenues: WM revenues (NII+Fees) + CIB fees (excl. Lending and Specialty Finance)}}

Performance over the last 10 years

Performance over the last 10 years

Revenues enlarged, with higher fee contribution…

... diversified toward a balanced corporate/retail mix …

… and toward a k-light specialized business model

Long-lasting solidity of the main indicators

(€M)	JUN13	JUN14	JUN15	JUN16	JUN17	JUN18	JUN19	JUN20	JUN21	JUN22
NET INTEREST INCOME	1028	1087	1143	1207	1288	1359	1396	1442	1415	1479
NET TREASURY INCOME	200	45	207	133	121	157	197	136	197	162
NET FEE INCOME	410	424	472	450	523	622	611	630	745	851
EQUITY-ACCOUNTED COMPANIES	-10	264	224	257	264	280	321	304	272	359
TOTAL INCOME	1628	1819	2045	2047	2196	2419	2525	2513	2628	2851
OPERATING COSTS	-752	-791	-847	-892	-1024	-1115	-1162	-1189	-1238	-1312
LOAN LOSS PROVISIONS	-507	-736	-533	-419	-317	-247	-223	-375	-249	-243
OPERATING PROFIT	370	292	666	736	855	1057	1140	949	1142	1296
OTHER INCOME (LOSSES)	-392	209	92	1	59	39	-56	-154	-37	-127
PROFIT BEFORE TAX	-23	501	757	736	914	1096	1084	795	1104	1169
NET PROFIT	-176	465	590	605	750	864	823	600	808	907