Mediobanca SpA (WBO:MB)
€ 13.765 -0.26 (-1.85%) Market Cap: 11.41 Bil Enterprise Value: 41.13 Bil PE Ratio: 12.44 PB Ratio: 1.03 GF Score: 76/100
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Q4 2024 Mediobanca Banca di Credito Finanziario SpA Earnings Call Transcript

Aug 01, 2024 / 08:00AM GMT
Release Date Price: €14.67 (-1.64%)
Alberto Nagel
Mediobanca Banca di Credito Finanziario SpA - Chief Executive Officer, Executive Director

Good morning to everybody for attending the call of our full year results. This is, as you know, our first year of the plan and the plan was branded. The one brand, one culture and this year led to a strong and capital-efficient growth across the board. We had growth in revenue up 9% to EUR3.6 billion with all division growing with the two positive element, the growth is where we want to grow. So in TFAs, which were up 13% to EUR100 billion and RWA overall. So the attention on capital allocation was higher and we managed to reduce RWA by 7% to EUR48 billion.

So both NII and fees grew two digit number and we had even stronger growth in insurance. GOP went up 12%, flat cost income and reduced core made a 24% increase in net profit and an even steeper increase in EPS, thanks also to the buyback, which was up 27% to EUR1.43 per share. Tangible book value, flat ROTE at 14%, an important increase in RoRWA up 30 basis points to 2.7%.

CET1 was very robust. We managed to have a 90 bps

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