2014/2016 Strategic Plan guidelines approved

Price sensitive

Banking revenues CAGR 10%, 2016 ROE 10-11%

Simplify business model, reduce equity exposure by € 2bn

Core Tier 1 ratio (Basel 3) 11-12%


  • Mediobanca has approved the guidelines of its 2014-2016 strategic plan, which, based on the solid banking results delivered, focuses on growth, profitability and disciplined use of capital.

  • The strategy is aimed at achieving, over the medium term, a business model which is:

    • simpler and more profitable

    • focused on three specialized banking activities (CIB, Retail and WM)

    • able to generate a growing, more geographically-diversified flow of revenues

    • efficient in terms of risks and costs.

  • To achieve these objectives, the Group intends to:

    • significantly reduce equity exposure, optimizing capital allocation

    • empower international CIB activities

    • invest in human talent and technology to develop higher fee-generating, capital-light businesses, including the launch of Mediobanca Alternative Asset Management (“MAAM”)

    • retain close control of risks and asset quality.

  • Main Group financial targets for June 2016:

    • ROE: 10-11%

    • Core Tier 1 ratio (Basel 3) 11-12%, with payout at 40%

    • Reduce equity exposure by €2bn, as a result of:

    • € 0.4bn asset “clean-up”: all listed stakes to be marked to market 2

    • € 1.5bn in disposals, including 3% of Assicurazioni Generali investment (to be reduced from 13% to 10%)

    • Banking revenues of € 2.1bn, CAGR +10%3

    • Cost of risk stable at 150 bps

  • “MAAM/WM”: to contribute 15% of MB Group banking revenues by year 5 (not included in plan objectives)