Mediobanca closed the third quarter with a better-than-expected net profit and announced the payment of an interim dividend of 0.51 euros per share

Net income in the three months to the end of March stood at 335 million, up 42 percent from the same period last year and above the consensus estimates collected by the same institution of 300 million euros.

Revenues rose 18% year-on-year to 898 million (up 4% quarter-on-quarter) above estimates of 880 million with net interest income down slightly and fees stable on a quarterly basis.

For the full year 2023-2024 Mediobanca expects revenues to grow to 3.5 billion, with net interest margin improving 10% year-on-year and net fees progressively climbing.

Earnings per share and dividend are expected to grow in double digits benefiting from the cancellation by June of 17 million treasury shares, purchased as part of the buyback.

(Andrea Mandalà, editing Claudia Cristoferi)