Half Year 2025 Mediobanca Banca di Credito Finanziario SpA Earnings Call Transcript

Feb 11, 2025 / 08:00 AM GMT

Release Date Price: $17.49 (+1.97%)

Transcript

Key Points

Positve

Mediobanca SpA (MDIBY) reported a net profit of EUR 660 million with a return on tangible equity of 14%, indicating strong financial performance.
The company experienced significant growth in wealth management, with approximately EUR 5 billion in net new money.
Consumer finance saw robust growth, with over EUR 4 billion in new loans, surpassing sector growth rates.
Revenue increased by 7% over the past six months, driven by a 30% rise in fees, particularly in CIB and wealth management.
Mediobanca SpA (MDIBY) achieved an all-time high in quarterly revenue, reaching nearly EUR 1 billion, with significant contributions from all business sectors.

Negative

The NII (Net Interest Income) trend was previously disappointing, although it has shown some improvement recently.
There is a potential risk of revenue attrition if a proposed merger with another bank proceeds, as it may not align with Mediobanca's strategic goals.
The company faces execution risks related to the proposed merger, including potential contingent liabilities from the offeror's balance sheet.
Mediobanca SpA (MDIBY) has a high cost ratio of 42%, which could impact profitability if not managed effectively.
There is a concern about the sustainability of the current high levels of advisory fees, which may be subject to variability.

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
Half Year 2025 Mediobanca Banca di Credito Finanziario SpA Earnings Call
Feb 11, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning to everybody and thanks for joining the call.

We are halfway of our plan, so one brand, one culture, and the first half of the 2nd year has delivered EUR660 million net profit with the return on tangible equity of 14%.

We have had a strong commercial activity across the different business and we have improved all our business position. In wealth management, we have had roughly 5 billion of netU money.

In CIB, we have not only confirmed our strong positioning in Southern Europe, but also thanks to ARMA, we have had an important leg in the fee generating business. In consumer finance, we have printed more than 4 billion of new loans, and this

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