Mediobanca closed the year 2014-15 with record revenues, for the first time exceeded 2 billion, net profit up 27% to 590 million. The figure – explains the institute – was driven by all banking components and, in particular, the increase of 5.1% in net interest income (+ 5.1% to 1.14 billion) and the increase in commissions ( + 11.3% to 471.8 million euro). At year-end (June 30) the Common Equity Tier 1 capital of the institution was 12% phased in and fully phased.5% to 13.2%). Improve value adjustments to loans (-27.6% to 532.7 million) and growing jobs (+ 7.7% to 32.9 billion returning to the levels of late 2013).
The rise in the stock market
A mid-morning, the Stock Exchange rose nearly 3% share over 10 Euros. The results for the year 2014/2015 – said CEO Alberto Nagel – have gone “beyond our expectations” and show the “characteristics of a bank that is growing, in contrast to the sector in Italy.” He said the managing director of the institute, in conference call with reporters. The proposed dividend, EUR 0.25 to 0.15, is placed above the market expectations. CheBanca !, retail banking division of Mediobanca, ended the year with a net loss of 13.6 million euro, almost half compared to 25.1 million in the red last year.
Capital gains
Mediobanca recorded in 2014/2015 net gain of 126 million euro from the sale of equity investments for 291 million euro; the last two years has thus risen to 1.1 billion Euros the amount of securities offered to the market by the Institute, as announced in the strategic plan. In particular – communicates the bank – the net proceeds resulting from the exit from Telecom Italy after the dissolution of Telco amounted to 128.1 million euro.
Shopping in the City
Mediobanca abroad grows with acquisition in the City. In addition to the annual accounts, Piazzetta Cuccia has announced an agreement with Cairn Capital, a London-based asset manager specializing in credit. As indicated in a note, the institute and Cairn reached a strategic Mediobanca will acquire 51% dela London society at closing, mainly from financial partners including Royal Bank of Scotland to be released from the capital. Mediobanca will have the option to acquire the remaining 49%, largely on the part of management, from the third year.
5 August 2015 (modified August 5, 2015 | 10:51)
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