Report

Mediobanca : Stable Credit Opinion; Recommendations broadly lowered to Neutral on relative value considerations. Buy SP 01/24, Buy & Hold Tier 2 20 and 21

News flow has been significant for Mediobanca (MB) this autumn with the presentation of its 2019-2023 strategic plan and significant changes to its shareholding structure. The new strategic plan is ambitious but not aggressive and consistent with the previous one (successfully achieved); the bank continues to leverage on a diversified business mix and strong positions in specialized segments. Implications, if any, of changes to the shareholding structure are difficult to grasp, n...
Underlying
Mediobanca S.p.A.

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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