The Mediobanca Group today

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.
Corporate loans:

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.

Retail loans:

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.