Banca Mediolanum, in 2023 the goal is to raise the dividend
The shareholders’ meeting of Bank of Milan unanimously approved the budget 2022, archived with a net profit of 521.8 million euros, a decrease of 27% compared to the previous year. He also approved the balance dividend of €0.26 per shareequal to about 192 million which adds up down payment of 0.24 euros distributed last November (the previous year the coupon was 0.58 euro).
The managing director, Massimo Dorisduring the meeting, declared that “the goal for 2023 is to pay over 50 cents per dividend share”, i.e. to increase the coupon compared to that on the 2022 financial statements. The entrepreneur underlined that Banca Mediolanum is “solid and liquid”.
2022 has been a very good year
He also recalled that “2022 was very, very good, after the record year of 2021. Record not only for net profit, but also for other items”. 2022, said Doris, was not going to be easy as the war broke out and the inflation which led to the rise in interest rates resumed. ‘Despite this, the results were brilliant and in some ways the best ever. In fact, it should be considered that over 400 million in revenues were lost due to the effects of the market. Despite this, we only lost 180-190 million in profit, against 400 million less in revenues”.
Doris also said: “We couldn’t have done better” in funding, taking into account the declines experienced by both equity and bond assets.