Funding and rating
Our funding strategy has changed and diversified significantly over the years. Bond issues now account for less than half of our funding, compared with more than 60% in 2005, in 2008 we launched CheBanca! to access retail deposits.
Overall about 57% of our funding now comes from retail investors: 15% of our bonds are sold to retail customers, while 42% of our funding is raised from Wealth Management deposit.
Our dedicated Mediobanca Bond and Certificates Deposits website contains all the details for our issues (prospectuses, types, maturities, recipients, etc.).
MB Group funding breakdown (March 2020 € bn, %)
- Well diversified funding structure: 55% retail (14% bonds, 41% WM deposits) and 45% institutional (22% bonds, 9% ECB, 14% banks and other)
- MB bonds totaling €19.2bn: €11.1bn senior, €2.4bn T2, €0.5bn SNP, €3.8bn covered bonds, €1.4bn ABS
- Wealth Management deposits at €22.4bn: €15.1bn Affluent, €7.3bn at PB companies