(Tiper Stock Exchange) – Mediobanca closed the first nine months of the year with record results that exceeded expectations and, according to what was confirmed by the Chief Executive Officer Albert Nagel, expects to “largely exceed the objective of the plan which was very ambitious” and “it was even more so due to the mishaps that occurred in recent years”.
The outlook for June 2023 indicates a volume of revenues in the order of 3.2 billionhigher than the 3 billion provided for in the 2022-2023 plan and a risk-adjusted operating result of 1.5 billion, up by more than 15%.
“We arrive in very good condition to present the new plan on May 24th”added the number one from Piazzetta Cuccia during the conference call with analysts.
The CEO also spoke about next meeting in Octoberwhich will also have on the agenda the renewal of the BoDin the light of the recent movements in the shareholding structure and the growth of the participation of Caltagirone group at 9.9% of the bank, behind Delfin which holds 19.8%. “We are working with all shareholders to have a good result at the next meeting,” said the CEO, adding that “governance can always be improved”. “We continue to engage with investors, with all types of stakeholders, to understand what we can do to improve,” Nagel added.
“We are responsible for managing the group and our task – he said in response to a question on the increase in Caltagirone’s share – is to try to give the best possible satisfaction to all our shareholders and incentivize a engagement with them that is as genuine and as profitable as possible“, while the task of management is to “manage the company while remaining focused on the objectives and not distracted by other types of initiatives”.
About the extra profit tax of the banks, the manager stated that “the banks must remain in good shape to finance the economy in a moment of tightening of the ECB. The manager then added that “Italian banks they have been coming for years at zero interest where negative rates have not been applied to customers in Italy, while in central and northern Europe many institutions have charged customers negative rates. That was a burden on the banks for many years and that today it is right to remember. You cannot only consider the positive part, you must also consider the negative part”.
about theperformance of the stock on the Stock Exchangewhich slips 3% on the stock today, Nagel said “it’s a bit of the moment, a bit of the expectations of the week” discounting the inflationary theme and “nervousness about the American debt”. We don’t base ourselves on the performance of a single day, we go ahead with our bank project”, she concluded.