Pamela Zuluaga
Analyst, Morgan Stanley
Replay available
Mediobanca - Banca di Credito Finanziario SpA (MDIBF) Q4 2024 Earnings Call
Mediobanca - Banca di Credito Finanziario SpA (OTC: MDIBF) Q4 2024 earnings conference call, held 2024-08-01. Replay captured from the company's public earnings webcast.
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Alberto Nagel
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Replay transcript excerpt
WEBVTT 00:00:00.115 -- 00:00:05.281 Good morning to everybody for attending the call of our full year results. 00:00:05.281 -- 00:00:08.565 This is, as you know, our first year of the plan. 00:00:08.565 -- 00:00:12.610 And the plan was branded the one brand, one culture. 00:00:12.610 -- 00:00:18.057 And this year led to a strong and capital efficient growth across the board. 00:00:18.057 -- 00:00:24.524 We had growth in revenue up 9% to 3.6 billion, 00:00:24.524 -- 00:00:28.920 all division growing with the two positive elements. 00:00:28.920 -- 00:00:34.048 The growth is where we want to grow, so in TFA, which were 00:00:34.048 -- 00:00:39.235 up 13% to 100 billion, and RWA overall, so the 00:00:39.235 -- 00:00:44.283 attention on capital allocation was higher, and we managed to reduce RWA 00:00:44.283 -- 00:00:49.550 by 7% to 48 billion. So both NII and fees grew 00:00:49.550 -- 00:00:55.860 to this number, and we had even a stronger growth in insurance. 00:00:55.860 -- 00:01:00.894 GOP went up 12%, flat cost income and reduced score made a 00:01:00.894 -- 00:01:06.201 24% increase in net profit and even steeper increase 00:01:06.201 -- 00:01:11.989 in EPS, thanks also to the buyback, which was up 27% to 1.43 00:01:11.989 -- 00:01:17.736 euro per share. Tangible book value flat, wrote at 14%, 00:01:17.736 -- 00:01:23.242 an important increase in RORVA, up 30 basis points to 2.7%. 00:01:23.242 -- 00:01:29.109 CHAT1 was very robust. We managed to have a 90 bps increase queue on queue 00:01:29.109 -- 00:01:34.275 to 16.1, and then we announced a buyback, which is part of 00:01:34.275 -- 00:01:39.541 our attractive remuneration strategy. So this year, full year, 00:01:39.541 -- 00:01:45.305 we have had a total distribution of 1.1 billion, 10% 00:01:45.488 -- 00:01:50.8...