Mediobanca - Banca di Credito Finanziario SpA (MDIBF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to everybody, and thanks for joining the call. We are halfway of our plan, so one brand, one culture, and the first half of the second year has delivered €660 million of net profit with the return on tangible equity of 14%. We have had a strong commercial activity across the different business, and we have improved all our business positions. In wealth management, we have had roughly 5 billion of net new money. In CIB, we have not only confirmed our strong positioning in Southern Europe, but also thanks to ARMA, we have had an important leg in the fee generating business. In consumer finance, we have printed more than 4 billion of new loans, and this is clearly above sector growth. For this reason, revenue were up a single digit. So six months on six months, they were up 7%. Cost income ratio stood at 42%. And the main driver has been in the last six months, the important growth in fees, which is one of the theme of our plan. So producing more fees and using less capital. So fees were up 30% driven by CID and wealth management. The core was stable with some encouraging sign of a slight decrease in the quota. This led to, as I said, an important jump in profit and also in EPS, which went up 10% to 0.79 euro per share. High capital generation confirmed this is another important feature of our plan. So grow revenue without using too much capital and producing a lot of capital available for distribution. So our CHAT 1 stood at 15.2. If we include 10% of payout, also taking into consideration the possible next buyback, we're going to end up at 14.8. So interim dividend, the amount will be fixed in the next board meeting and will be paid on May 15. but clearly reflects the increase of earnings. Now looking at the second quarter, we have seen a clear accelerati...