Banca Mediolanum, net income to grow to 1.12 billion in 2024

MILAN (ITALPRESS) – The Board of Directors of Banca Mediolanum approved the Group’s consolidated financial results as of December 31, 2024.Banca Mediolanum’s financial results were also approved, thanks to which the Board of Directors will propose to the shareholders’ meeting a total dividend of 1 euro per share, amounting to about 737 million, 42 percent more than in 2023. The amount is composed of an interim dividend of 0.37 euros distributed in November and a balance of 0.63 euros. Net income is 1.12 billion, up 36% from 2023. Contribution margin also increased 12 percent to 1.98 billion while operating margin, at 1.09 billion, grew 11 percent from the previous year. Net commissions reached 1.17 billion, up 13% year-on-year, thanks to positive market performance and the significant contribution from managed net inflows. Net interest income, at 811.1 million, grew 8% year-on-year to 2023. Total assets under management and administration reached 138.49 billion, up 17 percent from Dec. 31, 2023. Loans to the Group’s retail customers stood at 17.62 billion, up 3% from Dec. 31, 2023. The ratio of net impaired loans to the Group’s total loans is 0.79%. The Common Equity Tier 1 Ratio as of December 31, 2024 was 23.7%, a level of absolute excellence in the European banking landscape. Total net inflows were positive at 10.44 billion, up 46 percent, while net inflows under management reached 7.64 billion, up 91 percent from last year. Both results make 2024 the best year in Banca Mediolanum’s history. For 2025, Banca Mediolanum is aiming for still very strong net inflows in assets under management, with volumes similar to 2024. The interest margin down 5 percent from the previous year and a dividend up from the 2024 base dividend of 0.75 euros. “It is an honor and a great pride for me to present today the excellent results achieved by Banca Mediolanum in 2024. I would like to dwell in particular on three record figures: operating income reaching 1.12 billion, up 36 percent over 2023; the total amount achieved by assets under administration of 138.5 billion; and lacustomer base now close to two million. These are results that can be explained first and foremost in our ability, despite the continuous succession of uncertain and changing scenarios, to keep faith with our strategic approach that we have always followed, that is, to offer ourselves to families as unique and trusted interlocutors for all their financial needs,” commented Massimo Doris, CEO of Banca Mediolanum. “Results,” he added, “that consistently then find reason in the structural strength of our competitive model, which, never before as in 2024, has expressed its full potential, with an unprecedented capacity for savings inflows: a total net flow of 10.4 billion and above all a component of 7.6 billion in assets under management. Thanks to these economic results, the Board of Directors will propose to the shareholders’ meeting the distribution of a dividend of 1 euro per share. These successes would not have been possible without the commitment and dedication of all Group employees. And this is why, with great gratitude and gratitude, I have decided together with the BoD to distribute an extraordinary bonus of 2,000 euros to every collaborator, head office employee or family banker in the network,” Doris concludes.(ITALPRESS).-Photo: Banca Mediolanum press office-