Banca Mediolanum, profit of 522 million, the dividend reaches 0.5 euro per share
Banca Mediolanum confirms itself as the “goose that lays golden eggs” of the Fininvest galaxy. Not for nothing Silvio Berlusconi he has always defined his partnership with Ennio Doris as the best deal of his life. The institute closes 2022 with a net profit of 522 million euros. The board of directors which approved the results will propose to the shareholders’ meeting a final dividend of 0.26 euro per share, equal to around 192 million. Considering the interim payment of €0.24 distributed in November, the total dividend proposed for 2022 amounts to €0.50 per share, for a total of approximately 369 million euros.
These are the detailed economic-financial results as at 31 December 2022 reported by the group. In a year characterized by the strong correction of the markets, net inflows into managed savings managed to maintain theand net fees and commissions at €1.03 billion, up 7% on 2021. The interest margin, amounting to 407 million, benefited from the sudden rise in interest rates given the strong exposure of the loan portfolio and securities held by the Treasury to variable rates, resulting in a growth 51% over the previous year.
The contribution margin therefore saw a 16% increase to 1.43 billion and, thanks to cost management and the positive impact of interest rates on provisions, the operating margin reached 680.3 million, up 35% from last year. Net profit amounted to 521.8 million, down 27% on the previous yearmainly due to the presence in 2021 of non-recurring effects linked to the good performance of the financial markets.
Total assets under management and administration reached €103.66 billion, down 4% compared to 31 December 2021, despite the mitigation brought about by net inflows. Loans to retail customers of the group amounted to 16.44 billion, up 14% compared to 31 December 2021. The ratio of net non-performing loans to the group total was 0.68%. The Common Equity Tier 1 Ratio as at 31 December 2022 is equal to 20.6%, level that takes into account the distribution of dividends for approximately 369 million.
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