• Allocation of capital to low-K intensive, fee-based recurrent strategic business
  • Positive impact on MB Group financials
    • Capital ratios preserved
    • Asset quality mix/ratios improved as mortgages acquired fully performing
    • EPS accretion coming in the future from revenues/costs synergies


  • Rationale: speed-up of CheBanca! growth process while confirming the validity of its business model as a specialist sector operator with integrated and innovative multi-channel distribution and a simple and a transparent product offering
  • The deal builds on the significant investment made by CheBanca! in the last 18m to develop a strongly innovative digital banking and customer relation platform​



(1)Deal closing expected at the end of August 16