CORPORATE & INVESTMENT BANKING (CIB)
HIGH POTENTIAL OF CLIENT-DRIVEN BUSINESS MODEL
LEADER IN ITALY AND SOUTHERN EUROPE
INCREASINGLY INTEGRATED AND LESS CAPITAL INTENSIVE
REVENUES up 6%¹ to €0.8bn
ROAC up from 15% to 16%
The european market offers the following opportunities: strong domestic and cross-border M&A activity is being witnessed, involving medium-sized and large firms, driven by low organic growth, consolidation in industrial sectors, the low cost of borrowing, and intensive financial sponsor activity. In this scenario, advisory boutiques are continuing to improve their market share, on the back of their client-driven focus and flexibility of approach.
Mediobanca, by leveraging on its distinctive business model (leadership position in reference markets, high reputational standing, boutique-style organization, client-driven, ability to attract talent, strong integration with Private Banking, excellent asset quality), will further strengthen its position in Europe, in particular in M&A and Capital Markets services, with the objective of establishing itself further as the bank of choice for medium-sized/large companies in its reference countries (Italy, France and Spain).
By strengthening coverage and exploiting the apparent intra-Group potential (in particular with Private Banking and the newly-acquired Messier Maris), coupled with an increasingly efficient use of capital, CIB will see both revenues and profitability rise (ROAC 16%), and will remain the second major source of fee income at Group level.