CheBanca! BoD Meeting Financial statements for 31 March 2021 approved

CheBanca! Board of Directors’ Meeting
Financial statements for 31 March 2021 approved

Record 9M results in terms of assets (€31.4bn, up 19% YoY),
revenues (€264m, up 11%), of which €93m in fees (up 22%)
and net profit (€36m, up 42%)

Strengthening of new brand identity “Alza la tua visione” continues,
along with product offering for premier clients
and distribution network

TFAs increase to €31.4bn (up 19.5% YoY; up 5% in 3Q),
on NNM of €2.8bn (up 71% YoY), €1.2bn of which in 3Q (up 55% QoQ)

AUM/AUA up to €14.6bn (up 30.5% YoY; up 5.1% in 3Q)
Customer loans totalling €10.9bn (up 8.2% YoY; up 1.9% in 3Q), with new loans in residential mortgages of
€1.7bn (down 6.5% YoY), €0.6bn in 3Q (vs. €0.7bn in 2Q)

Distribution network has resumed significant growth following Covid-related
slowdown in 2020, and now consists of 926 professionals and 201 POS
Relationship managers now total 479 (12 added in 3Q; up 25 YoY), responsible for €0.7bn of AUM/AUA in 9m
Financial advisors now total 447 (18 added in 3Q; up 38 YoY), responsible for €0.6bn of AUM/AUA in 9m

Revenues, GOP and net profit all improving materially
Strong year-on-year increase in revenues, up 11.5% to €264.1m
driven by ongoing and material growth in fee income (up 22.2% to €92.6m, mostly recurring)
Costs up 5.1% to €195m, due to expansion in operations and distribution
Asset quality remains excellent, including in relation to management of moratoria
Strong increases in both GOP (up 40.5% to €54.8m) and net profit (up 42.2% to €36.4m)

3Q FY 2020-21: revenues €90.8m (up 1% QoQ), net profit €13.7m (up 1% QoQ)

The CheBanca! investment programme has continued during the third quarter, in line with the priorities of the Mediobanca Group 2019-23 Strategic Plan, with an unchanging commitment to digital innovation, gradual brand repositioning, and product offering geared increasingly towards the premier client bracket.

In accordance with the measures still required in order to address the ongoing medical emergency, operations at the branches and the FAs’ offices continue to be by appointment only, leveraging on the use of remote collaboration instruments where possible, guaranteeing continuous and ongoing coverage or relations with clients.