Shopping on Mediobanca after the results and the operation Cairn Capital – The Press

          

In the late morning the title of Mediobanca records a rise dell’1,79% to 9.93 euro after the release of results for the year that marked a leap in net profit of 27% to 590 million euro and one of 12% in revenues to over 2 billion euro. Practically all indicators of the bank’s accounts show a strengthening which also results in an increase of the dividend by 67% to 0.25 euro. Growth in lending, net interest income, fees and flex impaired assets (1.157000000000 to 1.152000000000 euro). Adjustments to loans fell by 27.6% to 532.7 million euro.

Among the new announcement of a 51% to Cairn Capital from the British giant credit RBS with an option to take over in the future even the remaining 49%. It is an operation that takes its assets under management to share 35 billion euro thanks to the 13 billion in assets under management made by the UK group.

Private Banking Mediobanca has already led to the last half-year EUR 16.6 billion assets under management, an increase of 10% which, however, was accompanied by a decline of 29 del’utile , 2% to 35.9 million euro dictated by a drop of 5.6% in revenues and an increase in costs of 9.8 percent. In particular, as evidenced by the note of Piazzetta Cuccia, the CMB results contributes to net 34 million, Spafid 1.9 million while Banca Esperia break even after taxes overtime to 2.7 million.

The acquisition of Cairn Capital from Royal Bank of Scotland comes at a particular moment of the British giant. RBS reported 153 million pounds of red in the six months to 30 June 2015, but profit from 293 million pounds in the second quarter. The British government, which is the reference shareholder of the bank decided to sell 2.1 billion pounds to 5.4% of the group selling it to 330, a discount on the market price and the cost price of 2008, when the UK government intervened to save the institution paying 500 pence per share. The groom British still retains a share of just under 73% of the capital.

For Mediobanca is the acquisition is instead an opportunity to take the first important step in the plan of MAAM , the structure of Mediobanca Alternative Asset Management, which will have an increasing role in business group.

(GD)