Profit more than doubled for Mediobanca in the third quarter of the current year. The bank archives profits of 205 million compared to 90,6 in the same period of the previous year: it is the best quarterly result of the last five years.
Revenues climbed 3% to 501 million, thanks to the boost of banking activities. Loan provisions fell by 39% to 109 million and the cost of risk to 136 basis points from 178, due to lower impaired assets and net non-performing loans. Mediobanca then recorded income from capital gains on disposals. The disposal of equity investments generated 102 million euros, of which 78 million related to Telco. Capital gains deriving from the sale of listed shares amounted to 23,3 million.
Over the nine months the bank filed an increase of 18% of the net profit to 466 million, Roe +8% and revenues up 19% to 1,51 billion. Results that beat the expectations of analysts who predicted a net profit of 401 million and revenues of 1,45 billion.
The stock rose by 2,79% to 8,84 euros.
