Results of Comprehensive Assessment carried out by European Central Bank

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Mediobanca passes Comprehensive Assessment exercise in full

CET1 at 7.7% in adverse scenario, including capital measures implemented in 6M 2014

No actions needed on either capital or loan coverage

 

  • Mediobanca has passed the Comprehensive Assessment exercise in full, with a CET1 ratio of 6.24% in the adverse scenario and of 9% in the base scenario, rising to 7.7% and 10.5% respectively if effects of measures implemented during 6M 2014 are factored in:
    • 93 bps due to repayment of a hybrid insurance loan and the disposal of banking investments
    • 53 bps due to retained earnings for the period
  • AQR: overall net impact on CET1 amounts to 85 bps (i.e. €615m gross, corresponding to a CET1 post-AQR  of 8.4%), of which:
    • 49 bps (€351m) due to Credit File Review (CFR)
    • 36 bps (€262m) due to Prudential Collective Provisioning

The provisioning methodologies adopted the financial statements as at 30 June 2014 are already consistent with the results of the AQR, meaning no further adjustments to the Group’s loan book are necessary.

Mediobanca Group