Mediobanca closed the 2012-13 financial year, as announced during the presentation of the strategic plan on 21 June, with a net loss of 179,8 million euro.
The result, explains the note released at the end of the board meeting which approved the accounts, is essentially due to the loss of over 400 million in the `principal investing' sector (determined by the lower contribution of Generali, which fell to around 17 million from around 146 million ); by net write-downs on securities for 404 million (of which 320 million on Telcos) and by the slowdown in banking activity, affected by the economic weakness.
In light of the loss result, the board of directors of the institute resolved not to propose to the shareholders' meeting convened for 28 October the distribution of a dividend, "in compliance with the recommendations of the Bank of Italy and even in the presence of robust capital ratios ”. For the previous year, the coupon was 0,05 euro. As confirmation of the strengthening of the capital structure, the Core Tier1 at the end of June 2013 stood at 11,7% (from 11,5% at the end of June 2012).
