Mediobanca - Banca di Credito Finanziario SpA (MDIBF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining the call. The first nine months of the bank show and confirm a steady growth trajectory in terms of revenue up 5%, profit as well, and ROTI on the level of 14%. We have had quite a strong commercial activity in all businesses. Starting from wealth management, we have recorded $7 billion of net new money, which is up 42% compared to last year. In CIB, we have had a rebound in new loan production of a billion, up 8% year-on-year. And we have had quite strong new loans in consumer finance. We reached the level of $6.7 billion, up 9% in nine months. This reverted into an increase in revenue, as I said, of 5%, where we had a stable, even slightly growing NII, double-digit fee jump with 24%, lower core, this is basically on a better trajectory at industrial level, and high capital generation, this is 55 basis points driven by CIB and consumer finance where we have had, starting from January, new LGD and hence we have released some capital. This reverted also in high remuneration with the interim dividend at 0.56 euro per share And this is, of course, 70% of net profit out here. And we have completed almost 70% of our share buyback. We have seen also a solid progression in the last three months. In particular, this compares to a very high Q2 in particular in CIB where we had the closing or some very important transaction. Notwithstanding this, we have recorded a quite high level of fees also in Q3. This was supported by a 6% increase in wealth management, 17% year-on-year, down 16% compared to last quarter in CIB. Consumer finance steady growing even compared to last quarter. and insurance had an increase compared to last year, and it was down compared to Q&Q. NII, as I said, was flattish, slightly improving. We will then investigate what's behind this...