Italy · Delayed Price · Currency is EUR Banca Mediolanum Earnings Call Transcripts
Fiscal Year 2026
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H1 2026 saw net income rise 16% to EUR 555.5 million and operating margin up 20%, with strong growth in net interest and commission income. The customer base and Family Banker network expanded, while AI and strategic initiatives boosted productivity. CET1 ratio remained robust at 22.7%.
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Q1 2026 delivered strong growth in net income, operating margin, and customer inflows despite heightened market volatility. Core business performance was robust, with resilient managed asset flows, expanding credit, and continued investment in digital and advisory capabilities.
Fiscal Year 2025
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Record net income and commercial momentum drove double-digit growth in 2025, with strong inflows, improved cost efficiency, and a robust capital position. 2026 guidance targets further growth in managed assets, NII, and dividends, supported by ongoing investments in technology and advisory.
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Net income rose 8% YoY to €726m, with strong managed asset inflows and recurring fees driving growth. Guidance for 2025–2026 remains robust, with double-digit NII growth expected in 2026 and a rising dividend, supported by a strong capital base.
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Net income grew 6% year-over-year to EUR 477.3 million, with strong managed asset inflows and robust capital ratios. Guidance for 2025 was raised for managed asset inflows, while NII is expected to decline modestly but stabilize in 2026.
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Q1 2025 saw net income rise 10% YoY to €243.3M, with record managed asset inflows and strong customer growth. NII declined 18% due to deposit promotions, but commission income and efficiency offset this. Guidance for 2025 remains unchanged, with robust capital and new initiatives targeting high-net-worth clients.
Fiscal Year 2024
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2024 delivered record net inflows, net income, and operating margin, driven by strong commission and fee growth. Guidance for 2025 remains positive, with robust capital ratios and continued dividend increases, though net interest income is expected to decline slightly.
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Record net inflows and double-digit growth in commission and interest income drove a 16% rise in operating margin and a 13% increase in total assets. 2024 guidance for managed asset inflows was raised, with strong capital ratios and higher dividends planned.
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Net income rose 24% year-over-year to EUR 449.9 million, with strong growth in recurring commission income and record customer acquisition. 2024 guidance for net inflows into managed assets was raised to EUR 6.5–7 billion, and capital ratios remain robust, supporting higher dividends.