Nov 12, 2024 / 09:00AM GMT
Alberto Nagel - Mediobanca Banca di Credito Finanziario SpA - Chief Executive Officer, Executive Director
Good morning. Thank you for joining the call. Commenting the first quarter of this start of the year, I would like to highlight two main features. The first one has been accelerating investment in our physical and digital distribution platform. This is across the different business where we have accelerated recruiting, accelerated transformation in the digitalization of the group, both in wealth management, in CIB, and in consumer finance.
This important investment that are going to underpin the growth in revenue beyond the actual three years' plan were coupled with very strong commercial flow, a record for summer quarters, where we have had EUR2.6 billion of net new money, which is, again, doubled at the best industry level at 10% of TFA; EUR2.1 billion of new loans in consumer finance, up 12%; and increased activity in CIB where we have announced 27 deals in the quarter, which is plus 36% year on year.
So basically, revenue and profitability of all banking business went up again
Q1 2025 Mediobanca Banca di Credito Finanziario SpA Earnings Call Transcript
Nov 12, 2024
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