(Alliance News) - The board of Mediobanca Spa approved the accounts for the first quarter ended September 30, which closed with a consolidated net profit of EUR291.2 million, after recognizing extraordinary costs related to the OPS of EUR45.3 million, equal to EUR30.5 million on a net basis. These charges are attributable to direct expenses and financial and legal advice related to the BMPS and Banca Generali transactions, as well as the impact on the income statement of the early closure of LTI plans.
Consolidated net profit for the period - before costs related to the BPMS and BG OPS - amounted to EUR 321.7 million, substantially in line with last year.
Revenues for the quarter amounted to EUR 867.6 million, in line with the same period of the previous year, supported by the diversification of activities and sources of income.
Wealth Management recorded revenues of EUR 224.3 million, down 1.8%, Corporate & Investment Banking EUR 171.2 million, down 6%, Consumer Finance rose to EUR 335.3 million, up 6.9%, while Insurance grew to EUR 129.6 million, up almost 13%.
Net interest income remained resilient at EUR 478.5 million, despite lower market rates.
Net commissions were virtually unchanged at EUR232.3 million, while the contribution from Assicurazioni Generali increased from EUR105.4 million to EUR128.7 million.
Operating profit amounted to EUR417.1 million, down 2.6%, with a cost/income ratio of 44% and a stable cost of risk of 51 basis points.
On the capital front, ratios confirm a solid position with a CET1 ratio of 15.8% and a Total Capital ratio of 18.7%, well above the minimum regulatory requirements.
The CET1 ratio for the quarter increased by approximately 75 basis points, partly as a result of the withdrawal of the buyback proposal.
Mediobanca closed Wednesday's session up 2.4% at EUR16.94 per share.
By Maurizio Carta, Alliance News reporter
Comments and questions to redazione@alliancenews.com
Copyright 2025 Alliance News IS Italian Service Ltd. All rights reserved.
