Financial statements for six months ended 31/12/17 approved

Financial statements for six months ended 31/12/17 approved

Eighteen months from the launch of the Strategic Plan
the Mediobanca Group confirms the validity of the direction
undertaken, demonstrating its high capability in terms of growth,
quality and sustainability of results

1H 2017/18 a record half-year by revenues, GOP and net profit

Revenues up 9%, to €1,170m,
with net interest income up 6% and fees up 23%
GOP up 23% to €523m
Net profit up 14% to €476m
ROTE up to 11%

Higher assets under management (AUM/AUA up €1.5bn in six months)
and lending volumes (retail up 11% to €22bn, CIB loans up 1% to €15bn)

Mediobanca among the leading banks in Europe for credit quality, low risk profile and capital solidity
SREP: min. CET1 confirmed at 7.6%
Texas ratio 13% - Gross NPLs 4.8% of total loans
CET1 ratio 14.3% pro forma

No material impact from introduction of new regulations
(NPL addendum, IFRS 9, Basel IV, EBA guidelines, etc.)

Validation granted to use AIRB models for corporate segment
RWAs €5bn lower as a result, with benefits sustainable over time
Authorization for IRB roll-out plan granted, leading to validation of models for other main categories of credit provided by the Group in the coming years

All divisions delivering growth, ROAC increasing
Consumer: biggest contributor to the Group, net profit up 30% to €160m - ROAC 30%
WM accelerating, now accounting for 25% of consolidated revenues - ROAC 12%
CIB: reduced capital absorption, increasing weight of Specialty Finance - ROAC 13%
PI: stake disposals continuing – ROAC 13%
HF: liquidity management optimization (LCR down to approx. 190%), loss cut by 43%