Mediobanca is a specialised financial group, whose business model is based on synergic, high profit margin and low capital intensity business sectors and in which the group boasts a solid competitive position.
- Since 2016, we have cemented our position in the Italian Wealth Management market, which offers significant long-term growth opportunities. We serve Affluent customers with CheBanca! and HNWI and UHNWI customers with Mediobanca Private Banking and Compagnie Monégasque de Banque.
- In Corporate & Investment Banking activities, in which our roots lie, we hold a position of undisputed leader in Italy. We offer companies high-quality Advisory, Lending, Capital Market and Specialty Finance solutions. We have also established a consolidated presence abroad, in Spain and France in particular.
- Since our foundation, we have been present in the Consumer Finance market, where our subsidiary Compass Banca is one of the three main operators in Italy.
The 2023-2026 business plan forecasts further growth of the group and in the returns for all stakeholders, thanks to the effective and unique business model, albeit in a macroeconomic scenario that is expected to be challenging for the whole financial sector.
Highlights (annual consolidated results at 30 June 2023)
The Group delivered solid results in FY 2022-23:
- Revenues +16% to an all-time high of €3.3bn, driven by business diversification
- Cost/income ratio down to 43%; cost of risk at 52 bps;
- Net profit €1,027m (+13% YoY);
- ROTE1 13%;
- DPS at €0.85 (+13% YoY), equivalent to 70% cash payout;
- ESG: targets delivered, pathways improved.
|PROFIT AND LOSS ACCOUNT||PROFIT AND LOSS ACCOUNT Value||BALANCE SHEET||BALANCE SHEET Value||OTHER INFORMATION||OTHER INFORMATION Value|
|Revenues:||€ 3.3 bn||Total assets:||€ 91.6 bn||S&P rating||BBB|
|GOP risk adj:||€ 1.6bn||Customer loans:||€ 52.5 bn||Fitch Rating||BBB-|
|Net profit:||€1,027 mln||Funding:||€ 61 bn||Moody's||Baa1|
|Cost/ income ratio||43%||Lending/funding:||87 %||Payout||70%|
|Cost of risk||52 bps||TFA||€ 88 bn||Capitalisation:||€ 9.3 bn|
|ROTE||12.7%||CETI||15.9%||No. of staff:||5227|
1) ROTE calculated using adjusted net profit (GOP net of loan loss provisions, minority interest and taxes, with taxation normalized at 33%, 25% for PB and AM, 4.16% for INS).
Our structure is based on three complementary and synergic pillars: Asset Management and Private Banking, sectors in which we gradually established a foothold over the last few years and in which we intend to invest further, also through targeted acquisitions; the historical activity of Investment Banking (Corporate & Investment Banking), in which we have a leading position in Italy, with a deeply-rooted presence abroad; Consumer Banking activity, in which we have been pioneers in Italy ever since our foundation.
Our revenues are currently balanced between Corporate/Principal Investing (roughly 40%) and Retail/Private (around 60%) activities. Revenues from equity investments refer primarily to the 13% stake in Assicurazioni Generali (from valuation using the equity method).
Over the last few years we have diversified our lending, to ensure a balance between corporate and retail.
- in Wholesale Banking, our group concentrates on large corporate, and around half of lending is carried out abroad;
- our portfolio is diversified by business sector and is increasingly less concentrated;
- we are not present in FICC activities (fixed income, currencies and commodities), in the process of global restructuring, and nor even in problematic segments/products such as small Italian companies, the shipping market and real estate development.
- Consumer Banking accounts for roughly half of retail lending, with the remainder primarily residential mortgages;
- Consumer lending loan book is highly fragmented with a 24 month duration, personal loans rapresent more than half of the toal amount.
- TFA around €89bn
- AUM/AUA around 69% of TFA
- Wealth Management deposits at €27.6bn
- Portfolio optimised by dimension and composition
- Prudent risk management based on the selection of high quality assets