Homepage Main navigation Main content Footer

Financial statements for six months ended 31 December 2020 approved

Price sensitive

6M results

Strong commercial recovery confirmed by all business segments,
impact of second lockdown smoothed

Net profit three times higher than 2H 2019-20, at €411m; ROTE  10%, CET1
16.2% . Estimated divident payout ratio @70% of net profit confirmed

Revenues of €1,301m (up 10% HoH ) reflect record net fee income of €383m
(up 27% HoH, up 17% YoY4) and flat net interest income of €720m despite
slowdown in Consumer Banking new business

Cost of risk halved at 50 bps, with asset quality at best-ever levels
NPLs decreasing in relative terms, to 3.3% of total loans (gross; 1.3% net),
coverage ratios increasing, for performing as well as non-performing loans

All divisions posted strong revenues and high profitability
WM: revenues up 6% HoH to €302m, on higher TFAs and margins – ROAC1 21%
CIB: revenues up 50% HoH to €364m, client business buoyant – ROAC 19%
Consumer Banking: revenues down 4% HoH to €515m, due to temporary
slowdown in new business post-first lockdown; ROAC 28%

Important ESG target achieved
Carbon neutrality, green bond, CheBanca! social projects, Governance enhancements

2Q results
Net profit €211m (up 5% QoQ)
Revenues up 8% QoQ4 to €675m, reflecting 2% QoQ increase in NII and fees
Revenues at all-time high in CIB (€182m),
WM acclerating (revenues up 7% to €156m),
Consumer Banking resilient (revenues down 2%, to €256m)

Cost of risk down to 39 bps (vs 61 bps in 1Q 2020-21): operating indicators
back to pre-Covid levels, substantial writebacks to UTP corporate positions (€84m)
offset by rigorous prudential provisioning (approx. €50m)

SREP CET1 requirement (7.94%) and MREL requirement (21.85%) confirmed for
2021, among the lowest levels in Europe, with comfortable operating buffers

The Mediobanca Group posted a strong commercial recovery in the six months in all
business segments, with the impact of the second lockdown being smoothed, and the
Group’s already excellent risk profile being strengthened further, mostly on prudential grounds.

 

Il tuo browser non è aggiornato!

Aggiornalo per vedere questo sito correttamente.