Q3 2025 Mediobanca Banca di Credito Finanziario SpA Earnings Call Transcript
Key Points
- Mediobanca SpA (MDIBF) reported a steady growth trajectory with a 5% increase in revenue and profit, and a ROTE of 14%.
- Wealth Management recorded EUR7 billion of net new money, up 42% compared to last year.
- Consumer Finance achieved a record new loan production of EUR6.7 billion, up 9% in nine months.
- The company completed almost 70% of its share buyback and declared an interim dividend of EUR0.56 per share.
- Mediobanca SpA (MDIBF) maintains a strong capital position with a CET1 ratio of 15.6%, driven by earnings and Basel impact.
- NII was flattish, with only slight improvement, indicating potential challenges in interest income growth.
- There was a decrease in core from 50 basis points to 39 basis points, with some write-backs not yet incorporated in capital.
- The Wealth Management deposit decrease is slow due to competition, impacting the cost of funding.
- The company faces execution risks with the proposed Banca Generali transaction, which could impact integration and value creation.
- Market volatility and macroeconomic uncertainties, such as trade wars, pose challenges to CIB revenue trends and transaction closings.
Good morning and thank you for standing by. Welcome to the Mediobanca third quarter 2024, 2025 Results conference call. (Operator Instructions) Please be advised that today's conference call is being recorded.
I would now like to hand the conference over to Mr. Alberto Nagel, CEO. Please go ahead.
Good morning to everybody. Thank you for joining the call. The first nine months of the bank show and confirm a steady growth trajectory in terms of revenue up 5% and profit as well and ROTE on the level of 14%. We have had quite a strong commercial activity in all businesses, starting from Wealth Management, we have recorded EUR7 billion of net new money, which is up 42% compared to last year.
In CIB, we have had a rebound in new loan production of EUR1 billion, up 8% year-on-year. And we have had quite a strong new loans in consumer finance, reached the level of EUR6.7 billion, up 9% in nine months.
This reverted into an increase in
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