BoD Mediobanca - Quarterly financial statements for three months ended 30/9/19 approved

Quarterly financial statements for three months ended 30/9/19 approved
Positive start to FY 2019-20:
Net profit up 10% to €271m, ROTE 10%

Mediobanca continues on its growth roadmap, confirming
                the distinctiveness and sustainability of its business model:
Focus on high-margin, specialized businesses where growth is driven by
long-term structural trends, supported by substantial capital resources
with one of the lowest risk profiles in Europe

3M highlights:


  • Growth in TFAs (up 5% YoY and up 1% QoQ, to €68bn), with €1.1bn in qualified net new money (AUM/AUA) in the Affluent and Private Banking segments
  • Growth in customer loans (up 6% YoY and up 1% QoQ, to €45bn)
  • Growth in revenues (up 7% YoY and QoQ, to €684m), with net interest income and fees increasing (combined, up 3% YoY and QoQ, to €514m)
  • Ongoing investment in people (headcount up 3% YoY, to 4,840 employees), innovation and distribution (with 35 commercial staff added at CheBanca! in 3M)
  • High operating efficiency levels: cost/income ratio 41% (for banking activities  52%), cost of risk 58 bps, asset quality aligned with best European standards
  • Net profit at best levels in last 3Y (up 10% YoY and up 37% QoQ,  to €271m)
  • ROTE above 10%,  both at Group level and for banking activities
  • Capital ratios, funding and liquidity all at high levels:
    • CET1 phase-in   :14.2% (up 8 bps QoQ)
    • Total capital phase-in: 17.4%
    • LCR: 160%

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