Mediobanca Reports Strong 3Q Results; Acquisitions Bear Fruit in Wealth Management
Mediobanca reported strong fiscal third-quarter results, as good operational performance and capital generation continue to strengthen the group's balance sheet in a challenging banking environment. For the first nine months of this fiscal year, Mediobanca has increased revenue by 9% to EUR 1.7 billion, thanks to growth in customer credits and significant contributions from wealth management. We are especially pleased with the generation of higher net fee income from wealth management, up 47% to...Mediobanca Banca Di Credito Finanzario's core businesses are lending and investment banking. Co. helps its clients by providing them with advisory services in addition to medium-term bank credit. Co. is the parent company of the Mediobanca Banking Group, which has operations in consumer credit, retail banking, leasing, and private banking. Co.'s business divisions are comprised of: Corporate and Investment Banking, which comprises Wholesale Banking and Private Banking; Principal Investing, which brings together all equity investments in associates (IAS28) and available for sale assets; and Retail and Consumer Banking, which comprises consumer credit and retail banking activities.
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