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Mediobanca Q3 fiscal profit rises YOY


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Mediobanca Q3 fiscal profit rises YOY

Mediobanca - Banca di Credito Finanziario SpA reported net profit of €205.6 million for its fiscal third quarter ended March 31, up from €195.7 million in the same period a year ago.

The Italian bank's net interest income came in at €342.1 million, up from €319.5 million in the three months ended March 31, 2017. Net commission income amounted to €165.4 million, compared to €165.1 million in the same period, and net treasury income fell to €39.0 million from €41.6 million.

Loan loss provisions dropped on a yearly basis to €60.3 million from €64.4 million. Mediobanca recorded reversals of provisions for other financial assets of €400,000, compared to €1.8 million a year ago.

Net profit for the nine months ended March 31 increased 11.1% on a yearly basis to €681.9 million from €613.9 million. Revenues rose 8.6% to €1.80 billion from €1.66 billion.

Mediobanca's common equity Tier 1 ratio stood at 13.9% as of March 31, compared to 12.9% at the end of 2017 and 13.1% a year earlier. The total capital ratio was 17.3% at the end of March, up from 16.2% at 2017-end and 16.8% as of March 31, 2017.