BANCA MEDIOLANUM S.P.A. (Alliance News) - The board of directors of Banca Mediolanum Spa on Thursday approved the interim report as of March 31, recording a profit of EUR220.5 million for the first quarter from EUR178.3 million in the same period a year earlier.
Net interest income rises to EUR220.0 million from EUR157.7 million in the same period a year earlier.
Contribution margin increases to EUR504.0 million from EUR409.0 million as of March 31, 2023.
Operating margin is EUR283.1 million from EUR228.1 million in the same period a year earlier.
Total assets under management and administration is EUR125.9 billion, showing an increase of 7 percent since the end of 2023.
The Common Equity Tier 1 Ratio as of March 31 stood at 22.9 percent.
Total net inflows were positive at EUR3.06 billion, while managed net inflows reached EUR
reached EUR1.18 billion.
In contrast, net inflows for the month of April were EUR1.03 billion.
The board of directors also resolved to initiate a share buyback program for a maximum of EUR8.0 million shares and EUR66.0 million. The program will begin on Friday, May 10, and expire on December 20.
Banca Mediolanum's stock trades in the red by 0.3 percent at EUR10.45 per share.
By Chiara Bruschi, Alliance News reporter
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