Negative first half for Mediobanca, which closed the accounts in the middle of the fiscal year with a net profit down by 8% compared to the same period last year, at 368,6 million euro. The adjustments to the stake in Telco (120 million) and Greek bonds (109 million) weighed on the performance above all.
In the fourth quarter alone, the accounts show a loss of 50,3 million, in stark contrast to the profit of 46,4 million recorded in the last three months of the 2009-2010 budget. Revenues instead grew by 7% to 2.029 million, driven by the recovery of the retail and private banking sector. The dividend proposed by the Board of Directors, which today gave the green light to the accounts, remained unchanged at 0,17 euro per share.
Core Tier1 stands at 11,2% (from 11,1% in June 2010). The group "confirms itself as solid, liquid and with diversified funding sources", reads a note released by the Board of Directors. Deposits were stable, standing at 52 billion, approximately 60% attributable to retail customers.
