Banca Mediolanum closed 2017 with a net profit of 380 million euros, down 3% compared to 2016.
The dividend confirms expectations. The board led by the managing director, Massimo Doris, has proposed the distribution of 0,20 euro which, added to the 0,20 euro already disbursed in advance in November 2016, bring the total amount to 0,4 euro, the same amount distributed last previous year on the 2016 budget.
Management fees grew, reaching 976 million (+15% compared to the previous year), thanks to “record net inflows into funds and management of 5,8 billion in the year, of which over 2 billion attributable to PIRs ”.
Total Assets under management and administration instead rose to €75,7 billion, up 10% on 2016, excluding the Banca Esperia assets sold in 2017.
The Common Equity Tier 1 Ratio (CET1) as at 31 December 2017 was 21,9%, one of the highest
between Italian and European banking groups.
Total net inflows in January 2018 are positive for 167 million euros.
