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Banca Mediolanum

Banca Mediolanum's net profit rose 327% yoy to EUR 361 mil in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum made a net profit of EUR 361 mil in the fourth quarter of 2019, up 327% when compared to the same period of last...

Banca Mediolanum's market capitalisation (end of period) rose 72.4% yoy to USD 7,361 mil in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum stock traded at EUR 8.86 per share at the end of fourth quarter of 2019 implying a market capitalization of USD 7,3...

Banca Mediolanum's price/earnings (P/E) fell 57.5% yoy to 4.66 in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum stock traded at EUR 8.86 per share at the end fourth quarter of 2019 implying a market capitalization of USD 7,361 mil. ...

Profit Statement 2017 2018 2019
Net Interest Income EUR mil 240 238 239
Net Fee Income EUR mil 834 810 792
Other Income EUR mil 526 546 1,103
Total Revenues EUR mil 1,600 1,595 2,134
Staff Cost EUR mil 199 212 ...
Operating Profit EUR mil 1,037 1,003 1,480
Provisions EUR mil 13.7 15.0 19.1
Net Profit EUR mil 352 343 650
Balance Sheet 2017 2018 2019
Interbank Loans EUR mil 625 698 659
Customer Loans EUR mil 9,324 21,469 24,587
Total Assets EUR mil 43,267 47,374 53,438
Shareholders' Equity EUR mil 2,209 2,061 2,343
Interbank Borrowing EUR mil 2,023 5,939 314
Customer Deposits EUR mil 17,028 17,574 23,858
Issued Debt Securities EUR mil 152 108 68.2
Ratios 2017 2018 2019
ROE % 16.1 16.1 29.5
ROA % 12.1 6.51 6.43
Costs (As % Of Assets) % 6.57 3.84 2.84
Costs (As % Of Income) % 35.2 37.1 30.6
Capital Adequacy Ratio % 22.0 19.3 19.5
Net Interest Margin % 0.563 0.525 0.474
Loans (As % Of Deposits) % 54.8 122 103
NPLs (As % Of Loans) % 1.45 0.581 ...
Provisions (As % Of NPLs) % 51.0 78.7 ...
Valuation 2017 2018 2019
Price/Earnings (P/E) 15.2 10.9 10.1
Price/Book Value (P/BV) 2.41 1.82 2.80
Dividend Yield % 5.54 7.86 6.21
Earnings Per Share (EPS) EUR 0.476 0.465 0.878
Book Value Per Share EUR 2.99 2.80 3.17
Dividend Per Share EUR 0.400 0.400 0.550

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summary Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                      
Net Interest Income EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           424 337 322 291 240    
Total Revenues EUR mil                                         1,449 1,451 1,672 1,544 1,600    
Operating Profit EUR mil                                         1,025 947 1,111 1,015 1,037    
Net Profit EUR mil                                         394 361 446 425 352    
balance sheet                                                      
Interbank Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           1,121 992 763 1,521 625    
Customer Loans EUR mil ... ... ... ... ... ...                             5,640 6,598 7,431 7,824 9,324    
Debt Securities EUR mil ... ... ... ... ... ...                             28,962 33,243 34,604 30,688 31,464    
Total Assets EUR mil ... ... ... ... ... ...                             37,322 42,548 44,710 41,971 43,267    
Shareholders' Equity EUR mil ... ... ... ... ... ...                             1,651 1,813 2,070 2,151 2,209    
Interbank Borrowing EUR mil ... ... ...                                   7,414 9,805 9,083 2,399 2,023    
Customer Deposits EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           10,693 12,413 14,229 16,929 17,028    
Issued Debt Securities EUR mil ...                                       369 342 224 187 152    
ratios                                                      
ROE % ... ... ... ... ... ... ...                           25.7 20.9 23.0 20.2 16.1    
ROA % ... ... ... ... ... ... ...                           17.4 15.5 15.8 13.3 12.1    
Costs (As % Of Assets) % ... ... ... ... ... ... ...                           7.20 8.24 7.99 6.93 6.57    
Costs (As % Of Income) %                                         29.3 34.7 33.5 34.2 35.2    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   18.0 18.4 19.7 20.0 22.0    
Net Interest Margin % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           1.16 0.844 0.739 0.672 0.563    
Interest Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           29.3 23.2 19.3 18.9 15.0    
Fee Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           38.5 42.2 52.5 50.1 52.1    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           38.2 35.0 33.4 36.2 35.3   ...
Equity (As % Of Assets) % ... ... ... ... ... ...                             29.3 27.5 27.9 27.5 23.7    
Loans (As % Of Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           52.7 53.2 52.2 46.2 54.8    
Loans (As % Assets) % ... ... ... ... ... ...                             15.1 15.5 16.6 18.6 21.6    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1.45   ...
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 51.0   ...
valuation                                                      
Market Capitalisation (End Of Period) USD mil ... ... ... ... ... ...                             6,394 4,720 5,865 5,300 6,366    
Number Of Shares (Average) mil ... ... ... ... ... ... ... ... ... ... ...                   742 742 743 742 739    
Share Price (End Of Period) EUR ... ... ...                                   6.30 5.29 7.31 6.83 7.22    
Earnings Per Share (EPS) EUR ... ... ... ... ... ... ... ... ... ... ...                   0.532 0.487 0.601 0.573 0.476    
Book Value Per Share EUR ... ... ... ... ... ... ... ... ... ... ...                   2.22 2.45 2.79 2.90 2.99    
Dividend Per Share EUR ... ... ...                                   0.250 0.270 0.300 0.400 0.400    
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ...                   11.8 10.9 12.2 11.9 15.2    
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ...                   2.83 2.16 2.62 2.36 2.41    
Dividend Yield % ... ... ...                                   3.97 5.10 4.10 5.86 5.54    
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ...                 -3.06 -8.48 23.5 -4.74 -16.9    
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ...                 18.3 9.91 14.0 3.95 3.12    
income statement Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                      
Interest Income EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           673 576 501 420 326   ...
Interest Cost EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           249 239 178 128 85.6   ...
Net Interest Income EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           424 337 322 291 240    
Net Fee Income EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           557 613 878 774 834    
Other Income EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           468 502 471 478 526    
Total Revenues EUR mil                                         1,449 1,451 1,672 1,544 1,600    
Staff Cost EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           162 176 187 191 199   ...
Depreciation EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           7.44 8.46 8.93 9.64 8.14   ...
Other Cost EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           255 319 364 328 356   ...
Operating Cost EUR mil                                         424 504 561 529 563    
Operating Profit EUR mil                                         1,025 947 1,111 1,015 1,037    
Provisions EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 13.4 17.3 13.2 11.0 13.7    
Extra and Other Cost EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 463 477 525 509 615    
Pre-Tax Profit EUR mil                                         549 453 572 495 408    
Tax EUR mil                                         154 91.5 126 69.9 55.9    
Minorities EUR mil                                         0 0 0 0 0    
Net Profit EUR mil                                         394 361 446 425 352    
Dividends EUR mil                                         184 199 222 294 294    
growth rates                                                      
Net Interest Income Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         -1.07 -20.5 -4.41 -9.61 -17.6    
Net Fee Income Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         -3.68 9.90 43.4 -11.8 7.75    
Total Revenue Growth % ...                                       3.55 0.132 15.2 -7.64 3.62    
Operating Cost Growth % ...                                       -16.6 18.9 11.2 -5.72 6.58    
Operating Profit Growth % ...                                       15.1 -7.63 17.3 -8.60 2.08    
Pre-Tax Profit Growth % ...                                       -5.96 -17.5 26.4 -13.5 -17.7    
Net Profit Growth % ...                                       -4.78 -8.41 23.5 -4.71 -17.3    
balance sheet Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                                      
Cash EUR mil ... ... ... ... ... ...                             60.4 65.7 84.1 86.9 94.0    
Interbank Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           1,121 992 763 1,521 625    
Customer Loans EUR mil ... ... ... ... ... ...                             5,640 6,598 7,431 7,824 9,324    
Retail Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           4,786 5,658 ... 7,124 7,749   ...
Mortgage Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         3,709 4,422 ... 5,516 6,087   ...
Consumer Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         1,077 1,236 ... 1,608 1,662   ...
Debt Securities EUR mil ... ... ... ... ... ...                             28,962 33,243 34,604 30,688 31,464    
Fixed Assets EUR mil ... ... ... ... ... ...                             193 192 221 219 215    
Intangible Assets EUR mil ... ... ... ... ... ...                             163 183 194 199 215    
Goodwill EUR mil ... ... ... ... ... ... ...                           126 126 126 126 137    
Total Assets EUR mil ... ... ... ... ... ...                             37,322 42,548 44,710 41,971 43,267    
Shareholders' Equity EUR mil ... ... ... ... ... ...                             1,651 1,813 2,070 2,151 2,209    
Of Which Minority Interest EUR mil ... ...                                     0 0 0 0 0    
Liabilities EUR mil ... ... ... ... ... ...                             35,671 40,735 42,640 39,821 41,058    
Interbank Borrowing EUR mil ... ... ...                                   7,414 9,805 9,083 2,399 2,023    
Customer Deposits EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           10,693 12,413 14,229 16,929 17,028    
Sight Deposits EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           6,751 8,283 10,713 14,450 16,451   ...
Term Deposits EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3,820 3,989 3,360 2,285 395   ...
Issued Debt Securities EUR mil ...                                       369 342 224 187 152    
Subordinated Debt EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           369 342 224 ... ... ... ...
Other Liabilities EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           17,195 18,175 19,105 20,305 21,855    
asset quality                                                      
Non-Performing Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 136   ...
Gross Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           5,684 6,653 7,492 7,890 9,394   ...
Total Provisions EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 44.1 55.3 61.7 66.4 69.4   ...
growth rates                                                      
Customer Loan Growth % ... ... ... ... ... ... ...                           -8.12 17.0 12.6 5.29 19.2    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         16.4 18.2 ... ... 8.78   ...
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       15.1 19.2 ... ... 10.4   ...
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       21.2 14.8 ... ... 3.39   ...
Total Asset Growth % ... ... ... ... ... ... ...                           3.53 14.0 5.08 -6.13 3.09    
Shareholders' Equity Growth % ... ... ... ... ... ... ...                           16.2 9.85 14.2 3.89 2.70    
Customer Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         31.7 16.1 14.6 19.0 0.587    
ratios Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                                                      
ROE % ... ... ... ... ... ... ...                           25.7 20.9 23.0 20.2 16.1    
ROA % ... ... ... ... ... ... ...                           17.4 15.5 15.8 13.3 12.1    
Costs (As % Of Assets) % ... ... ... ... ... ... ...                           7.20 8.24 7.99 6.93 6.57    
Costs (As % Of Income) %                                         29.3 34.7 33.5 34.2 35.2    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   18.0 18.4 19.7 20.0 22.0    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   14.4 18.4 19.7 20.0 21.9   ...
Net Interest Margin % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           1.16 0.844 0.739 0.672 0.563    
Interest Spread % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           1.13 0.817 0.719 0.657 0.552   ...
Asset Yield % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           1.84 1.44 1.15 0.968 0.764    
Cost Of Liabilities % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           0.709 0.626 0.428 0.312 0.212   ...
Payout Ratio %                                         46.7 55.1 49.6 69.2 83.4    
Interest Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           29.3 23.2 19.3 18.9 15.0    
Fee Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           38.5 42.2 52.5 50.1 52.1    
Other Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           32.3 34.6 28.2 31.0 32.8    
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         7,944 7,791 6,755 8,492 9,283   ...
Cost Per Employee (Local Currency) EUR per month ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         5,984 6,044 5,893 7,921 8,268   ...
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           38.2 35.0 33.4 36.2 35.3   ...
Equity (As % Of Assets) % ... ... ... ... ... ...                             29.3 27.5 27.9 27.5 23.7    
Loans (As % Of Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           52.7 53.2 52.2 46.2 54.8    
Loans (As % Assets) % ... ... ... ... ... ...                             15.1 15.5 16.6 18.6 21.6    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1.45   ...
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 51.0   ...
Provisions (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.782 0.838 0.830 0.849 0.745   ...
Cost of Provisions (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.228 0.282 0.188 0.144 0.160    
other data Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                                                      
Employees                               ...         2,257 2,432 2,651 2,012 2,005   ...
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           63.1 66.7 75.3 85.4 96.6   ...
Risk-Weighted Assets EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   4,863 6,970 7,633 7,824 7,583    
Return on Loans % ... ... ... ... ... ...                             6.70 5.90 6.36 5.58 4.10    
Operating Profit (As % of Loans) % ... ... ... ... ... ... ...                           17.4 15.5 15.8 13.3 12.1    
Costs (As % Of Loans) % ... ... ... ... ... ... ...                           7.20 8.24 7.99 6.93 6.57    
Equity (As % Of Loans) % ... ... ... ... ... ...                             29.3 27.5 27.9 27.5 23.7    

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Banca Mediolanum's net interest income rose 8.72% yoy to EUR 66.0 mil in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum generated total banking revenues of EUR 923 mil in the fourth quarter of 2019, up 139% when compared to the same period of last year and 116% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

Banca Mediolanum's equity (as % of assets) rose 0.789% yoy to 4.38% in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum's Equity reached 4.38% of total assets in the 4Q2019, up from 4.35% for the previous year. As a share of net customer loans, the ratio amounted to 9.53% at the end of the fourth quarter of 2019. ...

Banca Mediolanum's customer loan growth fell 88.8% yoy to 14.5% in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum's customer loan growth reached 14.5% in 2019-12-31, down from 130% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 165% in 2019-03-31 and an all time low of -14.6% in 2014-03-31. In the las...

Banca Mediolanum's net profit rose 89.5% yoy to EUR 650 mil in 2019

By Helgi Library - February 19, 2020

Banca Mediolanum made a net profit of EUR 650 mil under revenues of EUR 2,134 mil in 2019, up 89.5% and 33.8% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of EUR 650 mil in 2019 and an all time low of EUR 23...

Banca Mediolanum's price/earnings (P/E) fell 7.80% yoy to 10.1 in 2019

By Helgi Library - February 19, 2020

Banca Mediolanum stock traded at EUR 8.86 per share at the end 2019 implying a market capitalization of USD 7,361 mil. Since the end of 2014, the stock has appreciated by 67.4 % implying an annual average growth of 10.9 %. In absolute terms, the value of the company ...

Banca Mediolanum's share price (end of period) rose 74.0% yoy to EUR 8.86 in 2019

By Helgi Library - February 19, 2020

Banca Mediolanum stock traded at EUR 8.86 per share at the end of 2019 implying a market capitalization of USD 7,361 mil. Since the end of 2014, the stock has appreciated by 67.4 % implying an annual average growth of 10.9 %. In absolute terms, the value of the compan...

Banca Mediolanum's net interest income rose 0.362% yoy to EUR 239 mil in 2019

By Helgi Library - February 19, 2020

Banca Mediolanum generated total banking revenues of EUR 2,134 mil in 2019, up 33.8% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of EUR 2,134 mil in 2019 and...

Banca Mediolanum's customer loan growth fell 88.8% yoy to 14.5% in 2019

By Helgi Library - February 19, 2020

Banca Mediolanum's customer loan growth reached 14.5% in 2019, down from 130% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 130% in 2018 and an all time low of -8.12% in 2013. In the last decade, the aver...

Banca Mediolanum's net interest margin fell 1.72% yoy to 0.650% in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum's net interest margin amounted to 0.650% in the third quarter of 2019, up from 0.568% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 1.27% in 1Q2012 and an all time low of ...

Banca Mediolanum's capital adequacy ratio rose 1.04% yoy to 18.8% in 4Q2019

By Helgi Library - February 19, 2020

Banca Mediolanum's capital adequacy ratio reached 18.8% at the end of third quarter of 2019, down from 19.0% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 22.0% in 4Q2017 and an all time low of 13.8% in 4Q2012...

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