RESULTS AND PRESENTATIONS
2Q19/6M Growth results highlight MB strong business positioning,distinguishing us further in an uncertain & volatile scenario
Despite market uncertainty and macro deterioration
Mediobanca has achieved its best half-year results ever in terms of revenues and profitability
focusing on high-margin, specialized, long-established, growing businesses,
preserving its superior return/risk profile in a EU scenario
Growth in loans (to €43bn up 8% YoY and 2% QoQ)
Growth in TFAs (to €65bn, up 11% YoY) supported by €3.4bn of NNM in last 6M
Growth in funding (to €51bn, up 7% YoY and 2% QoQ, NSFR at 107%) at reduced cost
Growth in revenues (to €1,277m, up 9% YoY) with both NII (up 4%) and fees (up 7%) increasing
Growth in GOP risk adj. (up 16% YoY to over €600m)
Net profit at €451m - ROTE up to 11%
All divisions show solid, double-digit ROAC
Strong asset quality (gross NPLs/loans: 4.3%) with CoR stable at low level (52bps)
Solid CET1 ratio (13.9%¹) benefitting from organic capital generation
MREL requirements already fully addressed (MREL liabilities/RWAs at 42%)