Funding and rating
Our funding strategy has changed and diversified significantly over the years. Bond issues now account for less than half of our funding, compared with more than 60% in 2005, in 2008 we launched CheBanca! to access retail deposits
Overall about 59% of our funding now comes from retail investors: 13% from our bonds sold to retail customers, while 46% of our funding is raised from Wealth Management deposit.
Our dedicated Products issued website contains all the details for our issues (prospectuses, types, maturities, recipients, etc.).
- Well diversified funding structure: 59% retail (13% bonds, 46% WM deposits) and 41% institutional (25% bonds, 8%ECB, 8% banks and other)
- MB bonds totaling €23bn: €14bn senior, €1.5bn SNP, €1.4bn T2, €6.2bn secured
- Wealth Management deposits at €27.6bn: €16.7bn Premier, €10.9bn Private Banking
Substantial surplus MREL
(Highlights - results at March 2023)
- MREL requirement for 2023, among the lowest in EU, basically confirmed at:
- 22.13% RWA (19.63% + 2.5% CBR)
- 5.91% LRE (Leverage Ratio Exposure)
- MREL own funds and eligible liabilities (~€18.4bn as of Mar23) @ 36.1% of RWAs with a surplus of ~14% of RWAs vs MREL requirement
- ~90% of MREL requirement covered by own funds and subordinated debt
Funding and liquidity indicators (at 30 JUNE 2023)
| LCR | NSFR |
|---|---|
| 180% | 119% |
