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Mediobanca (MB) investor relations material
Mediobanca Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenues for the six months ended Dec 2025 were €1,786m, down 3–3.5% year-over-year, with Consumer Finance and Insurance growth offset by declines in Wealth Management and Corporate & Investment Banking from record 2024 levels.
Recurring net profit was €623m (down 6% YoY); stated net profit was €513m after ~€110m in one-off costs, including public offer-related expenses and goodwill writedown.
CET1 ratio improved to 16.4%, with a proposed dividend per share of €0.63 (100% payout) to be paid in April 2026.
The period marked a transition as the company became part of the MPS Group, with a new Board of Directors and changes in reporting structure.
Wealth Management total financial assets reached €115bn, up 8% YoY, but saw outflows in the last quarter due to senior banker departures.
Financial highlights
6M revenues: €1,786m (down 3–3.5% YoY); 3M revenues: €918m (up 6% QoQ).
Net interest income: €962m (down 2% YoY, up 1% QoQ); fee income: €478m (down 13% YoY, up 6% QoQ).
Cost/income ratio: 46% (up 3pp YoY), reflecting higher retention and administrative costs.
Cost of risk: 53bps (up 3bps YoY), with overlays stock at €164m.
Loans to customers: €55.9bn (up 4% YoY); funding: €70.8bn (up 10% YoY).
Outlook and guidance
Wealth Management reorganization underway, with retention measures prioritized and focus on leveraging the brand.
Sound trends in Consumer Finance expected to continue, with robust CIB pipeline.
Strategic Plan 2025-28 estimates to be updated as part of the MPS Group strategic review.
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