Mediobanca shares, MB stock prices on the Stock Exchange

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ISIN code: IT0000062957
Sector: Finance
Industry: Local banks

Mediobanca shares are listed on the Italian Milan market under the ticker MB.

Look at the history of the quotation of the share on the Milan Stock Exchange

Company Description

Mediobanca SpA (Mediobanca Banca di Credito Finanziario) is an Italian banking group. It is among the main Italian credit institutions. Mediobanca is the leader in Italy in investment banking and consumer credit and among the main operators in asset management.

The head office is in Milan. It also operates on international markets with offices in Paris, Madrid, Frankfurt am Main, London, New York and Luxembourg. It has 4.921 employees.

They are part of the Mediobanca group:

• CheBanca!
• Compass Bank
• Mediobanca International
• CMB Munich
• Messier & Associates
• Spafid
• Ram active investments
• Cairn Capital Group
• Bybrook Capital Management
• Selmabipiemme Leasing
• MB Facta
• MB Credit Solutions
• Mediobanca SGR
• Compagnie Monégasque de Gestion

Mediobanca's activities are developed in three specific areas:

• Wealth Management: through the offer of CheBanca! manages affluent customers and household savings; Mediobanca Private Banking, Spafid and CMB MONACO serve HNWI and UHNWI customers; Mediobanca Sgr, Cairn, RAM (Mediobanca Asset Management) offer management services and alternative products (credit and systemic equity).
• Consumer Banking (Retail Bank): through Compass, a consumer credit company.
• Corporate & Investment Banking: in addition to Mediobanca's Wholesale Banking activities and through various companies, it has recently strengthened its presence in the sector following the partnership with the French company Messier & Associés.
• Principal Investing (portfolio management): concerned the active management of the investment portfolio. The inherited portfolio from the past has been progressively disposed of. Today the division essentially includes the shareholding in Assicurazioni Generali, of which it owns about 13%.

I revenues by activity they are divided as follows: Wealth Management (24%), Consumer Banking (38%), Corporate & Investment Banking (27%) Principal Investing (11%). Almost 90% of revenues are generated in Italy.

Mediobanca has been listed on the Milan Stock Exchange since 1956. It is part of the FTSE MIB index and is a component of the Standard Ethics Italian Banks Index.

Mediobanca has been governed by a blockade agreement. The agreement remained active until 31 December 2018. The blocking agreement provided that the participants were obliged not to sell, buy or transfer, under any circumstances, the ownership or availability of the shares. Initially the deal was between the three founding banks. After the privatization of Mediobanca in 1988, the pact had dropped to 50% and then subsequently to 28,47%.
Since January 2019, a Consultation agreement between Mediobanca shareholders which currently holds approximately 12,08% of the share capital and does not envisage blocking or voting commitments on the shares contributed.

THEshareholders is composed by:

• Institutional Investors, 50%
• Consultation Pact, 12,08%
• Market, 16,%

Geographically, international investors come from the United States (46%), Great Britain (18%) and Italy (14%).

In November 2021, i major shareholders with a stake in Mediobanca capital exceeding 3% I'm:

• Leonardo Del Vecchio (through Delfin srl), 18,90%
• Blackrock, 3,98%
• Banca Mediolanum, 3,28%
• Francesco Gaetano Caltagirone, 3,04%

Others shareholders I'm:

• Mediobanca Banca di Credito Finanziario SpA, 2,81%
• Bolloré SE, 2,1%
• Benetton family, 2,1%
• UnipolSai, 1,96%
• FinPriv srl, 1,62%

As of April 2021, the main holdings I am in:

• General Insurance, 12,93%
• Italmobiliare, 6,7%
• RCS MediaGroup, 9,93%

Turnover in 2020 was 2,6 billion euros with a net profit of 808 million.

At the end of June 2021, the group managed €71 billion of deposits and €48 billion of loans.

Economic and financial analysis of the company

Mediobanca was founded in 1946 on the initiative of Raffaele Mattioli (President of Banca Commerciale Italiana) and Enrico Cuccia. The three founding banks, controlled by theIRI, Were Banca Commerciale Italiana, Credito Italiano and Banco di Roma. Mediobanca was founded with the aim of promoting the reconstruction, development and internationalization of Italian industries, following the end of the Second World War.

In the 1951 is born Compass, consumer credit company, on the initiative of Mediobanca, Montecatini, Fiat and Snia Viscosa. Compass is among the first Italian companies to introduce the personal loan and to offer families financing for the realization of life projects and the purchase of assets.

In 1956 Mediobanca decided to be listed on the Stock Exchange. The following year, he placed one hundred thousand shares on the market at 12.800 lire each.

In 1958 he took over the total control of Compass.

In the 1961 is born recount, first Italian auditing company.

In the sixties he intervenes in rescue operations entering the capital of Olivetti and Montecatini which will become Montedison in 1966.

In 1970 it was established Selma, one of the first leasing companies in Italy.

Mediobanca has been for years trusted bank of the FIAT group, managing many operations for it.

In 1981 Mediobanca manages the re-privatization of Montedison, in favor of a consortium participated by the Agnelli, Pirelli, Bonomi and Orlando groups.
Reconta is sold.

In 1982 Enrico Cuccia leaves the position of Chief Executive Officer a Silvio Salteri. In 1988 a Cuccia is awarded the title of Honorary President.

In 1988 Mediobanca was privatized. The three founding banks (Banca Commerciale Italiana, Credito Italiano and Banco di Roma) reduce the stake to 25% and another 25% is tied up by private investors. A blocking agreement is stipulated between banks and companies to ensure the stability and unity of operational direction.

In the XNUMXs Mediobanca was one of the main operators in the privatization process of large Italian public companies and participated in the rescue of the Ferruzzi group.

In June 2000 Enrico Cuccia died.

In the 2001 is born Esperia Bank, joint venture with Mediolanumactive in private banking.

In 2004 it began to expand abroad. The first foreign office opens in Paris, and subsequently in Moscow, Luxembourg, Frankfurt, Madrid, New York and London.

In the 2008 is born CheBanca!, the first digital native bank that operates on a multi-channel model (web, call center and branches) focused on the retail customer. Mediobanca, through the subsidiary Compass, acquires Line, consumer credit company.

Since 2013 it is also present in Türkiye through Mediobanca Advisory.
In July Mediobanca participates in the capital increase of RCS MediaGroup SpA for a total investment of 60,8 million euros.

In 2015 Mediobanca acquired control of Cairn Capital Group Ltd, a British asset management company. Compass becomes Bank assuming the name Compass Bank SpA.

Over the years Mediobanca has bought, on several occasions, General shares leading the bank to be the largest shareholder (today the stake is 13%) of the Group.

In 2016 Mediobanca, through its subsidiary CheBanca!, acquired the retail activities of Barclays in Italy. CheBanca! thus doubles its size.
The new industrial plan is presented in November: Mediobanca is reorganized into three main pillars: Corporate & Investment Banking, Consumer Banking and the new Wealth Management division, the development of which becomes a priority.
Assumes total control of Banca Esperia.

In 2017 it was inaugurated Mediobanca Private Banking, the new brand at the service of High Net Worth Individual (HNWI) customers.
Acquires a 69% stake in RAM, a Swiss asset management company.

In October 2017 Pirelli sells his 1,79% of Mediobanca shares for 153 million euro and leaves the shareholders' agreement.

In September 2018 Italmobiliare, the holding company of the Pesenti family, also leaves the agreement, selling its 0,98%. Italmobiliare, remains indirectly in Mediobanca, through FinPriv which owns a 1,62% stake. Vincent Bolloré also leaves the agreement, second shareholder after Unicredit. In March 2021 the share held by Bolloré it decreased to 2,1%.
These early exits bring the agreement below 25%, consequently causing the entire blockade agreement to lapse.
In January 2019, after 60 years, the agreement expires.

In April 2019 he entered into a partnership with Messier & Associés, one of the top three French corporate finance companies, by acquiring 66% of the company. This transaction strengthened Mediobanca's presence in France, the third largest market after Italy and Spain.

In September 2019 the Milanese entrepreneur Leonardo DelVecchio, through its holding company Dolphin, decides to enter the capital of Mediobanca. In a few months, Del Vecchio rises to 7,5%. The entrepreneur's declared objective is to control 20% of Mediobanca.

In November, Unicredit leaves Mediobanca ownership, selling its 8.4% stake for around 785 million euros.

In May 2021 Berlusconi (through Fininvest) sells the 2% stake in the bank to Delfin.
Del Vecchio thus rises to 15,4% of Mediobanca's capital.

In July 2021, Francesco Gaetano Caltagirone increases its stake in Mediobanca from 1 to 2,88% while Del Vecchio reaches a share of 19%.

In September 2021, through its subsidiary Cairn Capital Group Ltd, acquires Bybrook Capital LLP, a specialist non-performing loan manager based in London.