Banca Mediolanum Reports Record 2024 Profits and Growth

Banca Mediolanum SpA ( (BNMDF) ) has released its Q4 earnings. Here is a breakdown of the information Banca Mediolanum SpA presented to its investors.

Banca Mediolanum S.p.A. is a prominent player in the banking and financial services industry, known for providing a wide range of financial products and services primarily to retail customers across Italy and other European countries.

Banca Mediolanum has reported a record net income of €1.12 billion for the year 2024, marking a significant increase of 36% compared to the previous year. The company also highlighted a robust growth in assets under administration, the credit book, and net inflows, reflecting its strong performance in the financial markets.

Key financial metrics for 2024 include net commission income of €1.17 billion, a 13% increase year-on-year, and net interest income of €811.1 million, up by 8%. The company’s assets under administration rose to €138.49 billion, and the credit book increased to €17.62 billion. Banca Mediolanum’s CET1 ratio stood impressively at 23.7%, reaffirming its financial stability. Furthermore, the company announced a dividend proposal of €1.00 per share, a 42% increase from the previous year, alongside an extraordinary bonus for its employees.

The bank’s strategic focus on asset management and customer engagement is evident with total net inflows reaching €10.44 billion, a 46% rise, and managed assets net inflows soaring by 91% to €7.64 billion. The company’s customer base also expanded by 7%, nearing two million, while the number of Family Bankers increased by 3%.

Looking ahead, Banca Mediolanum aims to maintain strong net inflows into managed assets in 2025, with expectations of a slight decline in net interest income. The company also plans to keep its cost/income ratio below 40% and anticipates a further increase in dividends, signaling a positive outlook for continued financial growth and shareholder returns.