Mediobanca aims to 1 billion in profits, and becomes a bank in the round – Corriere della Sera

Mediobanca aims to 1 billion of operating earnings to 2019, thanks also to a boost in the sector of managed savings, with the purchase – among other things – of the 50% of Banca Esperia, which still does not have, as well as in the field of the commercial bank in addition to the traditional activity of the bank business. This is the objective of the industrial plan 2016-2019 published on Thursday, 17 before the opening of the markets. The new plan is the “final transformation in the banking group are highly diversified,” says Mediobanca.

Alberto Nagel, ceo of Mediobanca (Imagoeconomica)

In a note to the group led by Alberto Nagel indicates that the operating profit will grow at an annual rate made up of 10%, from the current 700 million. At the end of the three year period the capital ratio cet1 capital is seen to 14% (from 12%). Are expected disposals of shares to 1.3 billion, with the confirmation of wanting to get down from 13 to 10% of the General. At the end of the plan the institution plans to have about 1 billion for acquisitions.

in order To strengthen the aum is created inside the bank, a division of ad-hoc, that aggruppa the group’s activities in the sector, with CheBanca!, Banca Esperia Spafid and Compagnie Monegasque de Banque. And it is bought by Mediolanum (which was assisted by the advisor Rothschild) 50% of Banca Esperia for 141 million euros. The divisions of the institute are so Corporate and investment banking (Cib), Consumer banking, Wealth management, Principal investing and Holding company functions.

The attention is in greater diversification by source of revenue, for increasing them further. The boards on the floor of the institute to 2019 will be more spacious and stable coming to the 40% from Wealth Management (currently 21%) and 44% from the Cib (now 49%). The Consumer banking will continue its role of “engine of growth” in the interest margin of the group, explains the note of the company. Piazzetta Cuccia provides an increased ability to generate capital, with additional resources created at the end of the plan, up to 1 billion euros to fund external growth and remunerate shareholders.

The contribution to the operating result of the division Principal Investing, you will limit to 20% (actual 37%), Consumer banking (33%) and Cib (32%) will contribute in equal measure, confirming the effective diversification corporate-retail. The contribution of Wealth Management will double to 15% (from 7%). Apart from the share in General the disposals planned for the 1.3 billion relate to additional sales of securities available for sale 0.6 billion.

November 17, 2016 (the edit on the 17 November 2016 | 10:18)

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