Mediobanca's profit soared in the nine months thanks to disposals and the interest margin

Mediobanca gets into gear. The profit for the first nine months of the 2013/2014 financial year flies to 395,3 million euro from 37 million in the same period of the previous year. A ten times better result thanks to the sale of shares in line with the industrial plan and to the interest margin (+6% to 809 million). Roe stands at 7,5%. On the Stock Exchange, the stock gains 3%. In detail, Piazzetta Cuccia sold shares for approximately 800 million, earning 221 million, of which 69 in the last quarter alone (which, however, archived a net profit of 90,6 million euros compared to 133 in the previous quarter). This is already half of the disposals envisaged in the plan presented last June. Today, in the RCS meeting, reading the shareholders' register revealed that Mediobanca dropped to 8,7% from 9,97% in the previous Consob statement. Costs are stable at 563 million. The note on the accounts also revealed that Mediobanca is working on capital increases and bond issues on behalf of banks and companies for a value of 28 billion, which will be accounted for, with a positive effect on commissions collected, in the next two quarters.