Mediobanca, profit up 24% in the quarter. «Above the targets of the plan»- Corriere.it

Test over the nine months of the financial year for Mediobanca, ten days after the presentation of the new plan by the CEO Alberto Nagel who highlighted the strong points of the institution he leads, projecting it into the next three years: The group has been able to maintain the level highest ever achieved in revenues (approximately 2,420 million), profit (over 790 million) and profitability (Rote of 13% on the maximum levels of European banks), optimizing the management of assets and liabilities and benefiting from the strong positioning in business creators of long-term growth. The diversification of the business portfolio favored the growth of all indicators and confirmed our ability to generate value in different market scenarios while maintaining prudent risk-taking and strong capital generation and endowment.

Beats the estimates

Mediobanca closed the third quarter of the 2022-2023 financial year with a net profit of 235 million, up 24% from a year earlier and against the 215 million expected by a consensus among analysts provided by the company. Revenues rose by 10% to 760 million, marking the second best quarter ever, with interest margin at 456 million (+22%). In the nine months to 31 March profit increased by 10% to 791 million (against expectations for 770 million) on revenues of 2.4 billion (+13%). The interest margin rose by 17.4% to 1.3 billion, while commissions stood at 657 million (+1.9%). Structure costs grew by 8.1% to 1 billion, for a cost/income ratio that fell to 43%.