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Banca Mediolanum (BMED) investor relations material
Banca Mediolanum Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary31 Jul, 2025
Executive summary
Net income for H1 2025 reached €477.3M, up 6% year-over-year, driven by resilient core business, robust net inflows, and effective commercial initiatives.
Total net inflows rose 8% to €6.11B, with managed asset inflows up 47% to €4.54B, and credit book growth of 7%.
Customer base expanded by 3% to nearly 2 million, supported by network development and targeted promotional initiatives.
Assets under administration reached €144.4B, up 12% from June 2024, with commercial volumes at €8.08B.
Family Banker network and NXT project contributed to productivity and customer acquisition.
Financial highlights
Net commission income grew 10% year-over-year to €644.4M, while net interest income declined 12% to €366.8M due to higher funding costs and rate shifts.
Operating margin increased 1% to €570.6M; contribution margin up 2% to €1.02B.
Banking service fees rose 25% to €123M, and gross commission income increased 11% to €1.1B.
Loans granted surged 48% to €1.86B, with a 75% increase in mortgages.
General insurance gross premiums increased 23% to €114M.
Outlook and guidance
Net interest income for 2025 expected to decrease by 3% year-over-year, with stabilization anticipated in 2026.
Net inflows into managed assets guidance raised to €8–8.5B for 2025.
Cost/income ratio to remain below 40%, cost of risk around 20bps, and base dividend per share to increase.
What drives NII stability in 2026?
Mediobanca sale capital allocation plan
Managed asset fee compression drivers
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Next Banca Mediolanum earnings date
Q3 20256 Nov, 2025
Next Banca Mediolanum earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
Banca Mediolanum S.p.A., originally founded as Programma Italia SpA in 1982 and transformed into its current form in 1997, is an Italian financial institution that provides a wide array of banking, insurance, and asset management services. Its offerings include various types of accounts and deposits, such as current and savings accounts, along with debit, credit, and prepaid cards. The bank also provides mortgages, loans, and e-banking solutions, catering to both individual and family needs. Banca Mediolanum emphasizes tailored, comprehensive financial solutions delivered through innovative and user-friendly technological platforms. The company also engages in investment solutions like mutual funds, unit-linked policies, bond issues, certificates, financial planning and advisory, asset management, and trading services. Additionally, it offers life and non-life insurance, private banking, and pension services. The company is headquartered in Basiglio, Milan, Italy, and its shares are listed on the Borsa Italiana under the ticker symbol BMED.
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