Economic news

Mediobanca beats estimates with first-half net profit

2024.02.09 02:00


© Reuters. FILE PHOTO: A emblem of Mediobanca is pictured at Mediobanca headquarters in Milan, Italy, November 12, 2019. REUTERS/Flavio Lo Scalzo/File Photo

MILAN (Reuters) – Italy’s Mediobanca (OTC:) beat forecasts with its first-half net profit due to an increase in net curiosity earnings benefiting from excessive charges, and its wealth administration enterprise, the monetary group stated on Friday.

First-half net profit got here in at 611 million euros ($657.99 million), 10% greater from a yr in the past, beating an analyst consensus supplied by the financial institution of 596 million euros.

Revenues grew 4% to 1.73 billion euros, broadly in line with estimates, with net curiosity earnings (NII) of 997 million euros, 18% greater year-on-year.

Fees had been down 11%, as a robust efficiency within the wealth administration division not sufficient to offset the drop within the Corporate & Investment Banking (CIB) enterprise.

The financial institution sees full-year revenues rising in line with its strategic plan to 2026 and a net profit greater than the earlier fiscal yr, it stated in an announcement.

($1 = 0.9286 euros)

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 51,597.82 1.62%
ethereum
Ethereum (ETH) $ 2,993.12 2.32%
tether
Tether (USDT) $ 0.999983 0.09%
bnb
BNB (BNB) $ 382.29 1.71%
solana
Solana (SOL) $ 104.16 4.17%
xrp
XRP (XRP) $ 0.545215 2.00%
staked-ether
Lido Staked Ether (STETH) $ 2,991.06 2.37%
usd-coin
USDC (USDC) $ 1.00 0.06%
cardano
Cardano (ADA) $ 0.597257 2.38%
avalanche-2
Avalanche (AVAX) $ 36.78 2.31%
dogecoin
Dogecoin (DOGE) $ 0.086232 1.98%
tron
TRON (TRX) $ 0.137533 0.51%
chainlink
Chainlink (LINK) $ 18.53 3.22%
polkadot
Polkadot (DOT) $ 7.81 2.95%
matic-network
Polygon (MATIC) $ 0.995309 0.69%
uniswap
Uniswap (UNI) $ 11.27 0.79%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 51,676.85 1.67%
the-open-network
Toncoin (TON) $ 2.11 1.59%
internet-computer
Internet Computer (ICP) $ 12.52 1.12%
shiba-inu
Shiba Inu (SHIB) $ 0.00001 1.29%
bitcoin-cash
Bitcoin Cash (BCH) $ 267.73 1.09%
litecoin
Litecoin (LTC) $ 70.45 2.42%
dai
Dai (DAI) $ 0.99957 0.07%
immutable-x
Immutable (IMX) $ 3.08 1.19%
filecoin
Filecoin (FIL) $ 8.08 0.40%
cosmos
Cosmos Hub (ATOM) $ 10.41 4.45%
near
NEAR Protocol (NEAR) $ 3.87 14.89%
leo-token
LEO Token (LEO) $ 4.19 1.25%
kaspa
Kaspa (KAS) $ 0.16977 5.65%
ethereum-classic
Ethereum Classic (ETC) $ 26.12 2.68%
blockstack
Stacks (STX) $ 2.58 5.35%
hedera-hashgraph
Hedera (HBAR) $ 0.110268 0.82%
bittensor
Bittensor (TAO) $ 563.05 3.33%
optimism
Optimism (OP) $ 3.67 4.51%
aptos
Aptos (APT) $ 9.47 3.79%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.17%
stellar
Stellar (XLM) $ 0.11644 1.25%
vechain
VeChain (VET) $ 0.044526 2.25%
okb
OKB (OKB) $ 51.42 1.67%
injective-protocol
Injective (INJ) $ 34.67 5.15%
lido-dao
Lido DAO (LDO) $ 3.30 6.64%
celestia
Celestia (TIA) $ 17.05 3.95%
render-token
Render (RNDR) $ 7.23 2.07%
the-graph
The Graph (GRT) $ 0.270698 2.02%
mantle
Mantle (MNT) $ 0.782896 0.45%
crypto-com-chain
Cronos (CRO) $ 0.094391 2.80%
arbitrum
Arbitrum (ARB) $ 1.85 3.10%
monero
Monero (XMR) $ 123.90 0.08%
sei-network
Sei (SEI) $ 0.860734 8.99%
sui
Sui (SUI) $ 1.64 2.15%