Alberto Nagel
CEO
Replay available
Mediobanca - Banca di Credito Finanziario SpA (MDIBF) Q1 2025 Earnings Call
Mediobanca - Banca di Credito Finanziario SpA (OTC: MDIBF) Q1 2025 earnings conference call, held 2024-11-12. Replay captured from the company's public earnings webcast.
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Replay transcript excerpt
WEBVTT 00:00:00.571 -- 00:00:02.834 Good morning. Thank you for joining the call. 00:00:02.834 -- 00:00:07.860 Commenting the first quarter of this started year, I would like to highlight two 00:00:07.860 -- 00:00:11.925 main features. The first one has been accelerating 00:00:11.925 -- 00:00:16.590 investment in our physical and digital distribution platform. 00:00:16.590 -- 00:00:22.938 This is across the different business where we have accelerated recruiting, accelerated 00:00:22.938 -- 00:00:26.742 transformation in the digitalization of the group, 00:00:26.742 -- 00:00:31.818 both in wealth management, in CIB, and in 00:00:31.818 -- 00:00:36.883 consumer finance. These important investments that are going to underpin the 00:00:36.883 -- 00:00:42.048 growth in revenue beyond the actual triage plan 00:00:42.048 -- 00:00:46.833 were coupled with very strong commercial flow, record for the summer quarters, where 00:00:46.833 -- 00:00:52.138 we have had 2.6 billion of net new money, which is again double 00:00:52.138 -- 00:00:56.528 the best industry and the best industry level at 10% of TFA. 00:00:56.528 -- 00:00:58.090 2.1 00:00:58.090 -- 00:01:03.337 billion of net new loans in consumer finance, up 12%, 00:01:03.337 -- 00:01:08.724 and increased activity in CIB where we have announced 27 deals 00:01:08.724 -- 00:01:12.750 in the quarter, which is plus 36% year-on-year. 00:01:12.750 -- 00:01:17.877 So, basically, revenue and profitability of all banking business went 00:01:17.877 -- 00:01:22.903 up again after one year where we have hit record revenue and results 00:01:22.903 -- 00:01:27.959 for each of the business. So, Basically, we have had an increase of 6% in net 00:01:27.959 -- 00:01:33.105 profitability in wealth management, 20% in CIB, and 5% in consumer 0...