Q1 2025 Mediobanca Banca di Credito Finanziario SpA Earnings Call Transcript

Nov 12, 2024 / 09:00 AM GMT

Release Date Price: $15.19 (-8.21%)

Transcript

Key Points

Positve

Mediobanca SpA (MDIBF) reported a strong commercial flow with 2.6 billion of net new money, doubling the industry average.
The company saw a 12% increase in net new loans in consumer finance and a 36% year-on-year increase in CIB deals.
Fee growth was significant, up 30% year-on-year, driven by wealth management and CIB.
The company maintained a strong asset quality with 51 basis points, well within their guidance.
Mediobanca SpA (MDIBF) initiated a share buyback program for 385 million, authorized by their AGM and SSM.

Negative

Net profitability slightly decreased to 330 million due to normalized insurance contributions.
There was a temporary drag in NII in wealth management and CIB due to low credit spreads.
The company faced higher deposit costs than initially forecasted.
Cost of risk in consumer finance increased, driven by a higher mix of personal loans.
The company anticipates flat NII for 2025 and 2026, reflecting challenges in the current interest rate environment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MDBI.MI - Mediobanca Banca di Credito Finanziario SpA
Q1 2025 Mediobanca Banca di Credito Finanziario SpA Earnings Call
Nov 12, 2024 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning. Thank you for joining the call. Commenting. The first quarter of this started here, I would like to highlight two main features. The first one has been accelerating investment in our physical and digital distribution platform. This is across the different business where we have accelerated recruiting, accelerated the transformation in the digitalization of the group both in wealth management in CIB and in consumer finance, this important investment that are going to underpin the growth in revenue beyond the actual three years plan were coupled with very strong commercial flow record for a summer quarters where we have had 2.6 billion of net new money, which is again double the

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