RESULTS AND PRESENTATIONS

 

9M results show record high revenues, GOP and ROTE
Growth in TFAs (to €68bn, up 8% YoY) supported by €5.1bn of NNM in last 9M
Growth in loans (to €43bn up 8% YoY)

Growth in funding (to €52bn, up 8% YoY, NSFR at 107%) with cost under control
Growth in revenues (to €1,884m, up 5% YoY) with NII (up 3%) and client trading (up 21%) higher, fees resilient
Growth in GOP risk adj. (up 7% YoY to €870m)
Net profit at €626m - ROTE 10%

Last 3M results impacted by conflicting factors:
markets bounced back, but capital markets activity has been soft and households risk adverse
Revenues slowed (down 5% QoQ to €607m), costs of funding, of risk and efficiency preserved
High capital generation: CET1 ratio up to 14.3%¹ (by 40bps QoQ)
Strong TFAs growth (up 5% QoQ with €1.7bn NNM in last 3M), loans up (1% QOQ)
Asset quality improved further (gross NPLs/loans down to 4.2%, Texas ratio down to 12%)
MREL requirements target fully addressed (MREL target at 21.4% of RWA vs. MREL liabilities/RWA at 40%)

Mediobanca accretive value cycle fostered further by MMA partnership