In the first half of the year, Mediobanca recorded revenues of 1,731 million (+4%) and a net profit of 611 million (+10%) corresponding to a profit per share of 0.72 euros.
The results represent a solid start to the new 'One Brand-One Culture' plan, we read in a note.
The capital base of the Mediobanca group remains high with the Cet1 index at 15.3% (it was 15.9% in June 2023).
The distribution to shareholders is defined as "high and visible" with the first interim dividend being paid in May, a payout of 70% and a buyback of 200 million in progress.
The group has started "the 2023-24 financial year positively by laying solid foundations for the development of the plan initiatives, achieving excellent results in terms of value-oriented and capital-light growth", says CEO Alberto Nagel.
"In the semester - he adds - the group reaches the historic record of half-yearly net profit, reducing weighted assets by over 2 billion, bringing the ROTE to over 13%. Looking at the coming months, the main businesses will benefit from a favorable positioning in a phase of reversal of the rate cycle and new strategic initiatives aimed at implementing the vision of the One Brand-One Culture plan which sees the group establish itself as a Wealth Manager".
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