Banca Mediolanum Spa · MIL:BMED
Banca Mediolanum Spa — Q1 2024 Earnings Presentation
73 slides from Banca Mediolanum Spa's earnings presentation, May 2024
Slide 1: Q1 2024 Results & Business Update
Q1 2024 Results & Business Update
Slide 2: Table of content and colour key
Table of content and colour key Q1 2024 Group Results 3 Q1 2024 Domestic Market Results 21 Q1 2024 Spain Results 30 Business Update 32 Mediolanum Facts 43
Slide 3: Q1 2024 Group Results
3 Q1 2024 Group Results
Slide 4: Economic & Financial Highlights
Q1 2024 4 Economic & Financial Highlights Group Recurring fees & high interest rates boost income statement € mn Q1 2024 Q1 2023 Change Strong, high-quality inflows and favorable market conditions support Net Commission Income 290.0 261.0 +11% robust commission expansion 220.0 157.7 +40% NII remains
Slide 5: Business Results Highlights
Q1 2024 5 Business Results Highlights Group All areas contributing to the growth of the business € bn Q1 2024 Q1 2023 Change FY 2023 Change Robust net inflows demonstrate effectiveness of BMED strategy in anticipating customer needs with the right offer. Lower net Total Net Inflows 3.06 3.00 +2% inf
Slide 6: Growth & Resilience Drivers
Q1 2024 6 Growth & Resilience Drivers Group Customer acquisition well ahead of 2023 Project ‘NEXT’ continues to contribute to FB network growth 31/03/2024 31/12/2023 Change Bank Customers 1,839,700 1,799,100 +2% Record customer acquisition (+11% y/y) fuelled BMED’s customer base, creating room for a
Slide 7: Capital Adequacy & Balance Sheet Highlights
Q1 2024 7 Capital Adequacy & Balance Sheet Highlights Group BMED capital position at the top of banking industry Q1 2024 0 FY 2023 Rock-solid capital position leaves plenty of room for both organic growth CET1 Ratio 22.9% 22.3% & shareholder remuneration MREL TREA 25.2% 24.7% Well above the 20.76% r
Slide 8: Income Statement
8 Income Statement Q1 2024 € mn Group Q1 2024 Q1 2023 1 Change Entry fees 13.0 9.3 +39% Management fees 303.2 267.3 +13% Investment Management fees 60.1 53.1 +13% Net insurance result 48.0 45.6 +5% Banking service fees 51.2 50.6 +1% Other fees 12.6 10.5 +20% Gross Commission Income 488.0 436.4 +12%
Slide 9: Income Statement by Quarter
9 Income Statement by Quarter Q1 2024 € mn Group Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Entry fees 9.3 9.1 9.5 10.8 13.0 Management fees 267.3 272.7 284.8 282.9 303.2 Investment Management fees 53.1 52.7 55.6 55.8 60.1 Net insurance result 45.6 39.8 40.5 41.3 48.0 Banking service fees 50.6 37.1 35.6 49.7 51.
Slide 10: Net Interest Income
10 Net Interest Income Q1 2024 € mn Group YoY Trend QoQ Trend 250 800 700 200 600 500 150 400 752 211 220 100 300 190 194 158 200 407 313 50 274 100 231 235 253 229 239 248 270 220 163 141 178 192 0 0 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24
Slide 11: Acquisition Costs in detail
11 Acquisition Costs in detail Q1 2024 € mn Group Q1 2024 Q1 2023 Change Total commissions 130.5 116.5 +12% One-time commissions 17.4 14.6 +19% Ongoing commissions 113.1 101.8 +11% Total incentives & bonuses 18.9 16.9 +12% Incentives on individual net inflows 11.8 9.7 +22% Contest & bonuses 6.0 6.1
Slide 12: Q1 2024 Net Inflows
12 Q1 2024 Net Inflows Q1 2024 € mn Group Q1 2024 Q1 2023 GROUP TOTAL NET INFLOWS +3,064 +3,001 Managed Assets +1,180 +1,353 - o/w Mutual Funds, U/L & Managed Accounts +966 +1,018 Administered Assets +1,885 +1,648 Italy - Banca Mediolanum Total Net Inlows +2,766 +2,704 Managed Assets +927 +1,191 - o
Slide 13: AUA/AUM Trend
13 AUA/AUM Trend Q1 2024 € mn Group 125.9 Administered Assets (Q1 24: € 36.4 bn) 10y CAGR 8.9% 118.1 108.4 Managed Assets (Q1 24: € 89.5 bn) 103.7 93.3 84.7 75.774.1 68.8 62.1 56.5 50.2 44.7 39.539.8 34.8 29.830.1 27.7 25.6 23.6 20.419.922.0 17.9 13.0 9.5 7.2 4.7 5.3 5.5 6.1 2.6 3.1 0.1 0.6 0.9 1.3
Slide 14: Assets under Administration/Management
14 Assets under Administration/Management Q1 2024 € mn Group 31/03/2024 31/12/2023 Change 31/03/2023 Change Italy - Banca Mediolanum 114,222 107,168 +7% 98,953 +15% Mutual Funds & U-L Policies 75,895 71,250 +7% 65,451 +16% Other Life Insurance Reserves 1,966 1,956 +1% 1,903 +3% Banking 36,361 33,962
Slide 15: Mutual Funds & Unit-linked policies look-through
15 Mutual Funds & Unit-linked policies look-through Q1 2024 as at 31/03/24 Group Fixed Equity Income 63% 36% Money market funds (incl. ‘Intelligent Investment Strategy’) Cash & Other 5% 1% Certificates not included. Cash: liquidity not invested. Other: may include hedging derivatives (shown as negat
Slide 16: Loans Granted
16 Loans Granted Q1 2024 € mn Group Q1 2024 Q1 2023 Change Mortgages 250 525 -52% Personal Loans 164 196 -16% Salary-backed Loans (Prexta)1 146 120 +22% TOTAL 561 841 -33% 3rd-party Loans 4 9 -50% 1. Includes Prexta unsecured loans
Slide 17: Credit Book Trend
17 Credit Book Trend Q1 2024 € mn Group Salary-Backed Loans (Prexta) 5y CAGR 13.9% Lines of Credit 16.44 17.03 16.91 Personal Loans 14.38 Mortgages 12.14 10.35 8.89 7.08 7.77 6.49 5.61 4.77 4.05 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q1 2024
Slide 18: Credit Book & Quality
18 Credit Book & Quality Q1 2024 € mn Group 31/03/2024 31/12/2023 Change 31/03/2023 Change Mortgages 12,061 12,114 -0% 11,735 +3% Personal Loans 2,379 2,444 -3% 2,702 -12% Lines of Credit 531 601 -12% 497 +7% Salary-backed loans (Prexta)1 1,934 1,869 +3% 1,672 +16% TOTAL 16,906 17,028 -1% 16,606 +2%
Slide 19: General Insurance Gross Premiums
19 General Insurance Gross Premiums Q1 2024 € mn Group Q1 2024 Q1 2023 Change Stand-alone policies 36.5 31.1 +17% New business 7.2 6.6 +10% In-force business 29.3 24.6 +19% Loan protection policies 5.8 13.1 -55% Group health policies 0.0 0.0 n.s. GROSS PREMIUMS 42.4 44.2 -4%
Slide 20: Balance Sheet Structure – Banking Group
20 Balance Sheet Structure – Banking Group Q1 2024 Group as at 31/03/2024 € mn 39,284 39,284 Straight-forward & solid balance sheet structure Cash 490 • € 9.3 bn in floaters • Short duration (1 yr) Financial Assets 17,716 • No sensitivity to ITA spread: most assets in HTC portfolio Customers 27,348
Slide 21: Q1 2024 Domestic Market Results
21 Q1 2024 Domestic Market Results
Slide 22: Mutual Funds - AUM Trend
22 Mutual Funds - AUM Trend Q1 2024 € bn – including U-L assets Italy 75.9 71.2 69.7 63.1 59.1 55.3 50.0 47.6 44.2 39.8 35.3 29.2 23.7 19.620.0 15.515.2 15.8 14.1 11.7 10.011.0 8.7 9.6 8.4 7.4 5.0 3.7 4.0 3.8 3.8 4.3 0.1 0.6 0.9 1.1 1.3 1.5 1.9 2.2 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01
Slide 23: Mutual Funds - Assets under Management
23 Mutual Funds - Assets under Management Q1 2024 € mn Italy 31/03/2024 31/12/2023 Change 31/03/2023 Change 'Best Brands' funds on funds (IRL) 28,202 26,801 +5% 25,030 +13% 'Challenge' mutual funds (IRL) 23,786 21,670 +10% 18,830 +26% Funds of Hedge Funds (IRL) 35 36 -1% 38 -7% 'Fondi Italia' mutual
Slide 24: Mutual Funds - Assets by A.M. Company
24 Mutual Funds - Assets by A.M. Company Q1 2024 as at 31/03/2024 - including U-L assets Italy Mediolanum Gestione Fondi (Italy) 10.4% other A.M. companies 14.1% Mediolanum International Funds (Ireland) 75.5%
Slide 25: Banking - Assets under Administration
25 Banking - Assets under Administration Q1 2024 € mn Italy 31/03/2024 31/12/2023 Change 31/03/2023 Change Cash deposits 24,645 23,522 +5% 23,972 +3% Repurchase agreements 3 2 +37% 13 -80% 3rd-party structured bonds 3,300 2,988 +10% 2,466 +34% Other securities 8,413 7,450 +13% 5,148 +63% BANKING ADM
Slide 26: Banking - Interest Spread
Q1 2024 26 Banking - Interest Spread Italy Total Book Retail Book 4.50% 5.00% 4.00% 4.50% 3.89% 4.34% 4.31% 3.76% 4.08% 3.50% 4.00% 3.45% 3.77% 3.19% 3.50% 3.49% 3.00% 3.40% 3.23% 3.00% 3.01% 2.50% 2.29% 2.50% 2.00% 2.05% 1.84% 1.80% 2.00% 1.70% 1.61% 1.50% 1.64% 1.35% 1.50% 1.00% 1.00% 0.91% 0.76%
Slide 27: Bank Balance Sheet Highlights
27 Bank Balance Sheet Highlights Q1 2024 Italy € mn – as at 31/03/2024 Liabilities Assets Retail 24,727 15,544 Treasury 5,711 16,630 Interbank / intra-group deposits & repos 1,000 829 ECB refinancing 0 844 MTS refinancing 4,711 0 Securities (bonds) 0 14,957 Other liabilities / assets 5,316 3,579 TOT
Slide 28: Family Banker Network - Italy
28 Family Banker Network - Italy Q1 2024 Change in headcount & Split by Average Portfolio Year 2024 Italy 4,576 4,616 -18 -15 73 235 > € 20 mn 207 48% 51% € 10-20 mn 4,369 4,381 € 5-10 mn 31% 29% Turnover rate (last 12m) 3.7% 10% 10% < € 5 mn 12% 10% Avg. 01/01 Resigned Retired Recruited 31/03 Avg.
Slide 29: 'Private Bankers' & 'Wealth Advisors' - Italy
29 ‘Private Bankers’ & ‘Wealth Advisors’* - Italy Q1 2024 as at 31/03/2024 Italy Private Bankers Wealth Advisors ( > € 30 mn AUM) ( > € 70 mn AUM) Average assets in portfolio 46.9 115.7 827 821 768 791 o/w Managed Assets 34.2 84.3 127 125 125 125 565 584 544 35 45 75 700 696 643 666 529 530 539 455
Slide 30: Q1 2024 Spain Results
30 Q1 2024 Spain Results
Slide 31: Spain Highlights
31 Spain Highlights Q1 2024 Spain € mn Q1 2024 Q1 2023 Change vs. FY Operating Margin 23.2 19.8 +17% Net Income 18.9 15.9 +18% -0.7 Total Assets 11,303 9,404 +20% +7% Managed Assets 7,998 6,448 +24% +10% Administered Assets 3,306 2,956 +12% +1% Total Net Inflows 306 307 -0% Net Inflows into Managed
Slide 32: Business Update
32 Business Update
Slide 33: April 2024 Business Results
33 April 2024 Business Results Business Update € mn Apr 2024 YTD 2024 YTD 2023 GROUP TOTAL NET INFLOWS 1,025 4,089 3,839 Managed Assets 621 1,801 1,679 - o/w Mutual Funds, U-L & Managed Accounts 570 1,536 1,293 Administered Assets 404 2,289 2,160 GROUP LOANS GRANTED 204 764 1,094 GENERAL INSURANCE P
Slide 34: Italian FA Networks - Ranking by M.F. Net Inflows
34 Italian FA Networks - Ranking by M.F. Net Inflows Business Update € mn – totals by Group Jan - Mar 2024 Managed Assets Mutual Funds* Total Net Inflows Allianz Bank 1,118 687 1,581 Banca Mediolanum 732 729 2,766 Banca Generali 272 -75 1,633 BNL - BNP Paribas 99 83 302 Gruppo Fideuram/Intesa 29 217
Slide 35: Italian FA Networks - Market Share
35 Italian FA Networks - Market Share Business Update Jan-Mar 2024 BMED Other FA networks Net Inflows into Net Inflows into Total Net Inflows Managed Assets Mutual Funds* 27% 32% 39% Personal Loans General Insurance Mortgages Granted Gross Premiums Granted 50% 62% 98% * including Unit-Linked policie
Slide 36: Creating the NEXT Generation of the Network
Business 36 Creating the NEXT Generation of the Network Update Pairing high potential new graduates to work as junior assistants (‘Banker Consultant’) with senior Private Bankers & Wealth Advisors ● ‘Banker Consultants’ initially receive dedicated training programme (Executive Master) provided by Me
Slide 37: 'Life Planning' Programme
37 ‘Life Planning’ Programme Business Update Enhancing the relationship with the customer ● A new strategic initiative to support AUM growth & cross-selling of Credit & Protection products ● An advanced platform, fully integrated with BMED CRM, to support FBs in the analysis of needs & goals of the
Slide 38: Automatic Investment Services
Business 38 Automatic Investment Services Update Investment services featuring automatic gradual switch into equity funds allowing customers to take advantage of dollar-cost averaging ● Big Chance (2001) • Capital is initially invested in money market fund • A portion of the assets is switched twice
Slide 39: The 'Double Chance' Service
39 The ‘Double Chance’ Service Business Update Launched June 2008 ● A long-term investment strategy/service that allows the retail investor to gradually enter the global financial markets via Mediolanum investment products, while mitigating the effects of volatility & taking advantage of Double Chan
Slide 40: The 'Intelligent Investment Strategy' Service (IIS)
40 The ‘Intelligent Investment Strategy’ Service (IIS) Business Update Launched June 2016 ● A long-term investment strategy/service (10+ yrs, € 30k+) that allows our customers to gradually enter the equity markets in order to take advantage of the overall growth of the world economy ● Designed to re
Slide 41: The 'IIS' service at work
41 The ‘IIS’ service at work Business Update Launched June 2016 ‘Market crises are buying opportunities’: not just a slogan Step ins & step outs reduce avg unit price on investments, allowing customers to benefit from market volatility. € 4.5 bn of money market managed assets were automatically inve
Slide 42: Group Customer Base
42 Group Customer Base Business Update as at 31/03/2024 Total Bank Customers* 1,840k (‘000) End Goal: to be the Customer's Primary Bank Banca 1,602 Mediolanum (ITA) 1,289k hold a bank account • 66% use BMED as Primary Bank (internal data analytics) • 34% use BMED as the Only Bank (2023 survey) Banco
Slide 43: Mediolanum Facts
43 Mediolanum Facts
Slide 44: BMED Shareholders & Group Structure
44 BMED Shareholders & Group Structure Mediolanum Facts as at 31/03/2024 BANKING Banco Mediolanum 100% Mediolanum Fiduciaria ASSET Mediolanum Mediolanum Mediolanum MANAGEMENT Gestione Fondi International Gestion S.A. 100% Funds Doris 100% Banca 95% Banca Mediolanum 100% Banco (direct & indirect Medi
Slide 45: Banca Mediolanum's Integrated Business Model
Mediolanum 45 Banca Mediolanum’s Integrated Business Model Facts ● We and our Family Bankers view the company as a single entity, providing solutions that best fit the needs of the customer, whether it be in Insurance the form of a mutual fund, an insurance policy or a bank product ● The Bank (est.
Slide 46: Banca Mediolanum's Multi-channel Model
Mediolanum 46 Banca Mediolanum’s Multi-channel Model Facts Mobile apps (all platforms) Automated Telephone Website Services (VRU / SMS) Customer 18,700 3rd-party Banking Center branches 600 Reps (Poste & Intesa) + 45,000 Mooney Real-time sharing POS of customer information Entire 6,200+ ATM Family n
Slide 47: Customers: freedom in banking
47 Combining the advantages of traditional and direct banks Mediolanum Facts Family Bankers: the human touch Self-employed tied agents with entrepreneurial approach Willing to provide advice anytime, anywhere Extensively trained to tackle every household financial need Equally competent across all p
Slide 48: Italian Household Financial Assets
Mediolanum 48 Italian Household Financial Assets Facts Over the last few years asset gatherers have increased market share to the detriment of traditional banks Total HH Assets in 2022: € 5.14 trillion 73% Asset gatherers growing mainly thanks to: 60% BMED ● Demand for specialised advice 19% 3% ● Pr
Slide 49: Net Income Trend
49 Net Income Trend Mediolanum Facts € mn 822 10y CAGR 9.3% 713 565 507 439 434 394 380 351 337 321 256 233 224 212 217 224 221 115 103 129 141 131 75 88 82 54 60 67 38 49 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Q1 24 2008 & 2010: adjusted net income
Slide 50: Dividend Payout
50 Dividend Payout Mediolanum Facts € mn ### Net Income 822 Retained Earnings 713 Dividends paid 303 565 Special dividends 286 522 439 394 380 162 434 351 337 321 153 95 111 88 233 224 212 217 224 217 100 86 256 323 129 141 88 131 219 153 122 339 369 519 54 60 75 88 115 103 82 78 66 107 110 67 294 2
Slide 51: BMED: 23 Years of Consistent Net Inflows
51 BMED: 23 Years of Consistent Net Inflows Mediolanum Facts Anti-cyclical flows mean better performance for customers thanks to dollar-cost-averaging 800 Decreasing Negative Returns Twin Towers 10y BTP Yield Subprime Sovereign ITA Banks Populism Mifid II Covid-19 High Inflation Attack stable above
Slide 52: Family Banker Network
52 Family Banker Network Mediolanum Facts Group Licensed Financial Advisors Italy 6,216 6,233 6,054 Spain 5,762 75 207 235 5,633 5,525 5,417 13 5,352 Banker Consultants (ITA only) 5,211 5,184 5,155 593 448 5,012 5,059 5,098 5,142 5,161 5,154 407 4,866 1,620 1,640 1,617 439 1,504 4,535 4,427 4,501 4,
Slide 53: Italy - Average Assets per Family Banker
53 Italy - Average Assets per Family Banker Mediolanum Facts € mn 6% > € 20 mn 23% 51% € 10-20 mn 31% 25.8 22.9 24.2 20.4 21.3 18.7 € 5-10 mn 16.3 16.2 29% 14.8 12.2 13.3 9.9 10.9 40% 8.5 10% < € 5 mn 10% 2011201220132014201520162017201820192020202120222023 Q1 Avg. 24 Avg. Portfolio Portfolio € 8.5
Slide 54: Total Customers
54 Total Customers Mediolanum Facts (‘000) excludes Prexta & Flowe Italy 1,799 1,840 Spain 1,686 1,587 1,486 1,413 1,376 1,333 1,290 1,231 1,176 1,151 1,178 1,137 1,163 1,124 1,119 1,127 1,068 1,010 972 985 989 854 746 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Q1 24
Slide 55: Italy - Average Assets per Customer
55 Italy - Average Assets per Customer Mediolanum Facts € thousands Primary Bank Account Holders 90.0 87.9 77.8 79.2 73.4 80.8 84.1 80.6 84.4 72.7 74.8 66.4 70.1 58.3 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q1 24
Slide 56: Spain - Net Income
56 Spain - Net Income Mediolanum Facts € mn 61.9 45.1 34.2 35.6 31.5 28.8 27.4 26.3 21.0 20.0 17.6 18.9 15.0 6.8 7.1 3.4 3.9 1.3 1.5 0.6 -1.1 0.0 -0.1 -6.3 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Q1 24 Impairment of CGU ‘Spain’
Slide 57: Spain - Assets under Administration
57 Spain - Assets under Administration Mediolanum Facts € mn 11,303 10,544 Administered Assets (Q1 24: € 3.3 bn) Managed Assets (Q1 24: € 8 bn) 8,937 8,872 10y CAGR 16% 7,185 5,917 4,662 4,841 3,880 3,546 7,998 2,983 7,279 6,523 2,493 2,353 2,376 6,092 2,016 2,168 5,138 1,800 1,405 1,583 1,622 1,581
Slide 58: Spain - Net Inflows Trend
58 Spain - Net Inflows Trend Mediolanum Facts € mn Total Net Inflows 1,259 1,107 1,018 865 599 619 559 607 522 451 327 306 94 95 114 7 35 6 35 -223 -291 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Q1 24 935 Managed Asset Inflows 688 690 613 529 422 440 418 364 343 238 261 79 76 73 98
Slide 59: Spain - Credit Book
59 Spain - Credit Book Mediolanum Facts € mn 1,349 1,361 Lines of Credit 10y CAGR 24% 1,170 Personal Loans 1,026 Mortgages 745 562 451 333 187 228 157 163 169 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q1 2024
Slide 60: Spain – Family Banker Network
Mediolanum 60 Spain – Family Banker Network Facts 1,620 1,640 1,617 1,504 1,318 996 1,029 900 835 712 755 652 593 551 524 505 453 419 448 407 439 375 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Q1 24
Slide 61: Banking Book Composition
61 Banking Book Composition Mediolanum Facts € bn – nominal values – as at 31/03/2024 Banking Book: € 16.6 bn (nom. values) Rate Type Sector % Government 99.2% Fixed 56.0% 44.0% Financial 0.8% Floating Govies % Italy 81.9% € 9.3 bn of floaters directly linked to EUR6M Spain 13.1% Other EU Countries
Slide 62: Mediolanum Investment Advisory Strategy
Mediolanum 62 Investment Advisory Strategy Facts Our investment strategy explains the consistency of our inflows & transfers ‘technical performance’ into ‘customer performance’ ● We advise our customers proposing products & services that correspond to each of their specific needs ● Investor needs re
Slide 63: Mediolanum Corporate University
63 Training & Communication Mediolanum Mediolanum Corporate University Facts ● Inaugurated March 2009 ● Centralises our training know-how, in coordination with top universities, professors and individuals who are experts in the field ● Provides our Family Bankers & employees with a resource for life
Slide 64: Corporate TV Channel
64 Training & Communication Mediolanum Corporate TV Channel Facts A proprietary state-of-the-art tool established in 1989 Online programs to train, motivate & communicate with our Family Bankers ● Financial news commented by top company executives ● Company news & product information ● Online traini
Slide 65: Mediolanum Marketing Events
Mediolanum 65 Marketing Events Facts ● 8 nation-wide in-person events, with 20,000 attendees & streamed live to over 143,000 viewers in 2023 ● Over 2,000 digital/in-person events organised by Family Bankers: over 130,000 attendees Results are measurable: ● Net inflows into managed assets of invited
Slide 66: Top Performer in Customer Experience
66 Top Performer in Customer Experience Mediolanum Facts BVA Doxa Survey 2023 Solid customer relationship is built on best-in-class service delivery both human & digital Overall Perceived Digital Financial Advisor Satisfaction Value Platform Interaction Customer Comprehensiveness of Mobile App Overa
Slide 67: The 3rd best known bank brand in Italy
67 The 3rd best known bank brand in Italy Mediolanum Facts Spontaneous brand awareness – Italian banks – March 2024 68% 27% 57% 27% 48% 19% 30% 17% 28% 16% source: GfK – an NIQ company
Slide 68: The most memorable adv in the banking industry
68 The most memorable adv in the banking industry Mediolanum Facts Spontaneous recall of advertisement – Italian banks – Q1 2024 39.0 28.7 21.0 15.3 9.7 7.3 7.3 7.0 4.7 4.0 2.7 source: GfK – an NIQ company
Slide 69: The development of the digital customer
69 The development of the digital customer: Business Update Launched January 2021 A totally digital Bank account addressing the needs of ‘digital young adults’ ● For those who require a full-service account, but aren’t in the market for advice like the typical BMED customer ● Not only an account but
Slide 70: Ranking of Italian Banking Groups by Market Cap
70 Ranking of Italian Banking Groups by Market Cap Mediolanum Facts € bn – as at 03/05/2024 Intesa-SanPaolo 63.3 Unicredit 57.5 Mediobanca 11.5 Banco-BPM 9.3 FinecoBank 8.8 Banca Mediolanum 7.6 BPER 6.8 MPS 5.7 Banca Generali 4.3 Pop.di Sondrio 3.5 CREDEM 3.4 Banca IFIS 1.1 Banca Desio 0.6 Banca Sis
Slide 71: MED.MI / BMED.MI Price Return & Total Return Index
71 MED.MI / BMED.MI Mediolanum Price Return & Total Return Index* Facts 2000% Price Return 1800% Reinvested Total Return 1600% 1400% 1200% 1000% 800% 600% 400% 200% 0% * Total Return Index includes dividend reinvestments, June 3, 1996 – Dec. 29, 2023 Source: Datastream
Slide 72: Disclaimer
72 Disclaimer This document has been prepared by Banca Mediolanum S.p.A. for the sole purpose of providing information and presenting the Group’s strategies. The information, opinions, valuations and forecasts it contains have not been audited by any independent body; they may be altered at any time
Slide 73: Investor Relations Contacts
73 Investor Relations Contacts ● Alessandra Lanzone Banca Mediolanum +39-02-9049.2039 alessandra.lanzone@mediolanum.it S.p.A. Via Ennio Doris 20080 Basiglio MI – Italy ● Lisa Maxon +39-02-9049.2997 http://www.bancamediolanum.it lisa.maxon@mediolanum.it ● Luca Pugliese +39-02-9049.2721 luca.pugliese@