Supporting corporate and private customers with a unique culture since the 1950s
Founded in 1946 by three state-owned banks (Comit, Credit and Banco di Roma), Mediobanca’s mission was initially to support the rebuilding of Italian industry.
In performing such a pivotal role, Mediobanca became close to the most important Italian industrial families, supporting the growth of their businesses also through equity investments. Mediobanca worked with Italian corporates in their restructuring, privatization and internationalization processes, easing their access to capital markets.
Mediobanca pioneered also retail/mid-corporate banking activities, entering the consumer credit sector with Compass (1960), leasing with Selma (1970), residential mortgages with Micos (1992) and private banking with Banca Esperia (2001) and CMB (2003).
Listed since 1956, Mediobanca was privatized in 1988. The banking shareholders reduced their stake to 25%, entering into a shareholder agreement with some industrial corporates holding another 25%. The agreement is still alive today, but with a reduced weight (roughly 30%) compared to the past and an higher presence of institutional investors (~35% of the capital).
Since 2003, the current management team has focused the corporate strategy on banking activities, concentrating on:
- Global CIB operations: offices have been opened in Paris (2004), New York (2006), Madrid (2007), Frankfurt (2007), London (2008) and Istanbul (2013)
- Consumer credit: in 2008 Compass doubled its size with the acquisition of Linea, thus catching up with the top three consumer lending Italian players
- Retail operations: in 2008 the multi-channel digital bank CheBanca! was set up and, after establishing as a domestic deposit and asset gatherer, in 2016 doubled its size acquiring a selected perimeter of Italian retail business of Barclays
- Entering alternative AM business with the acquisition of the London based credit specialist Cairn Capital in 2016.
In the meantime Mediobanca has actively managed its equity portfolio, selling off cross-shareholdings, exiting shareholder agreements and disposing of non-strategic stakes.