CheBanca!: financial statements for year ended 30 June 2018 approved
CheBanca! Board of Directors’ Meeting
Financial statements for year ended 30 June 2018 approved
CheBanca! doubles its operating profit
on the back of a differentiating offering model within the Italian market
The human-digital bank for the Current (and Next) Wealth Generation
The human-digital bank …
Launched as a digital bank in 2008 with a focus on deposits and mortgages
Mission then expanded with the enhancement of advisory services
Digital excellence made available to clients from the bank’s inception
(acquisition of clients and provision of services) and distribution networks (direct and indirect)
Today CheBanca! is the best bank in Italy for customer experience
… with a highly sustainable business model …
Broad client base (807,000 clients)
The only distribution platform with a genuine omni-channel approach
Revenues diversified by type and source
(net interest income generated from deposit gathering and mortgage lending activities,
fee income from asset management, increasing and 90% of which recurring)
High potential for organic growth (direct network, FAs recruiting)
and via acquisitions with the strategic support of parent company
…for the Current (and Next) Wealth Generation
Product offering already in line with demographic, technology and regulatory trends in progress
Easy, efficient and multi-channel approach for transactional services
Transparent, valuable, fairly priced for investment services (“self” or “guided”)
Enriched by specialist expertise and solidity of the Mediobanca Group
FY 2017-18 results
Distribution strongly enhanced, TFAs growing,
Sound improvement in profitability
Distribution platform enhanced, commercial results developing
New, strongly digital-based CRM to support omni-channel approach
Barclays integration now ended, proprietary structure streamlined and enhanced,
with 111 branches and 416 affluent/premier advisors
FAs network launched, increasing in number from 65 to 226 in the twelve months
Business growing strongly
Total financial assets (TFAs) up 11% Y.o.Y. to €23bn, with €2.2bn in net new money for the year
Mortgages up 8% Y.o.Y., to €8bn, with €1.6bn in new loans for the twelve months
Revenues and operating profit showing solid improvement
Revenues up 7%, to €293m,
well diversified between net interest income (up 3%, to €212m) and fees (up 16%, to €80m)
Costs down 1% (down 7% like-for-like)
Operating profit more than doubled, to €41m
Milan, 27 July 2018
