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According to Market Intelligence, April 2023


Mediobanca fiscal 9-month profit down YOY on nonrecurring items

reported netprofit of €121.3 million for its fiscal third quarter ended March 31, comparedto €205.0 million in the same period a year ago.

Netinterest income amounted to €301.4 million, up from €292.0 million in thefiscal third quarter of the bank's 2014-2015 financial year. Net fee andcommission income increased over the same period to €109.0 million from €100.7million.

Nettreasury income dropped to €51.6 million from €98.6 million, while gains on theavailable-for-sale, held-to-maturity and loans and receivables portfoliodeclined year over year to €5.5 million from €101.6 million.

Mediobancareported loan loss provisions of €94.4 million, compared to €109.3 million inthe year-ago period. Provisions for other financial assets widened to €5.7million from €1.9 million.

Forthe nine-month period ended March 31, net profit amounted to €442.4 million,down from €465.6 million in the same period a year ago. The bank said thedecline was attributable "solely to nonrecurring items," such as aone-off contribution to the bank resolution fund of €57.3 million.

Thebank's phased-in common equity Tier 1 ratio stood at 12.48% as of March 31,while the total capital and leverage ratios stood at 15.70% and 11.0%,respectively. The fully phased CET1 ratio stood at 13.24% at March-end, whilethe total capital ratio stood at 16.15% and the leverage ratio at 11.6%.