Mediobanca - Financial statements for six months ended 31 December 2021 approved
Record 6M results
feature growth, quality and sustainability
6M revenues up 12% to €1,459m
with solid growth in NII (€734m, up 5 % QoQ, up 2% YoY1)
and fee income at an all-time high (€443m, up 19% QoQ, up 16% YoY)
Net profit up 28%¹ to €526m, ROTE 11%
Ongoing capital optimization, with a robust CET1 of 15.4%,
including 70% payout and new buyback scheme (3% of share capital)
Significant increase in per share values due to growth and treasury
share cancellation (22.6 million shares deleted in December 2021):
6M EPS adj3. €0.59 (up 17%1), TBVPS €11.3 (up 7%1)
Investments in innovation, distribution and digital excellence,
including through the new CheBanca! investment app and
Compass’s “Pagolight” BNPL ”
Significant progress made on Group ESG roadmap
Signatory to the Net-Banking Zero Alliance
2Q results show further acceleration
Revenues up 7% QoQ to €753m, with positive trend in all divisions:
WM up 11% (€192m), Consumer up 4% (€268m), CIB up 12% (€206m)
Loans up 4% to €51bn
NNM doubled in 2Q to €2.9bn (€4.4bn in 6M)
TFAs up 5% to €79bn, of which AUM up 6% to €52bn
Highly prudent loan loss provisions, credit quality at best-ever levels
COR 60 bps, €35m in extraordinary adjustments, overlays intact, unchanged
macro scenario, gross non-performing loans/loans at 2.8%
Net profit €264m (up 1% QoQ)
1 YoY: 6M ended 31/12/21 vs 6M ended 31/12/20.
2 QoQ: 3M ended 31/12/21 vs 3M ended 30/9/21.
3 ROTE/EPS adj.: calculated using net profit adjusted for writedowns/impairment charges to equity investments and securities and for other positive/negative non-recurring items.
4 CET1 phase-in, CET1 fully-loaded @14.1% (without Danish Compromise ~120 bps and with IFRS 9 fully-phased ~10 bps).
5 BNPL: digital instalment plan Buy Now Pay Later