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 56% of our funding now comes from retail investors: 10% from our bonds sold to retail customers, while 44% of our funding is raised from Wealth Management deposit.
Our dedicated Products issued website contains all the details for our issues (prospectuses, types, maturities, recipients, etc.).
Funding characteristics:
- Well diversified funding structure: 56% retail (9% bonds, 47% WM deposits) and 44% institutional (23% bonds, 14% ECB, 7% banks and other)
- MB bonds totaling €18.5bn: €11.4bn senior, €1.6bn T2, €1bn SNP, €4.5bn secured
- Wealth Management deposits at €28.1bn: €17.6bn Affluent, €10.6bn at PB companies
Mediobanca confirmed as one of the leading EU banks in terms of MREL requisites
(Highlights - results at 30 September 2021)
- MREL requirement confirmed at 21.85% of RWAs for 2022, one of the lowest in EU, not subject to interim target
- MREL own funds and eligible liabilities (~€15.6bn as of Sept 2021) @ 33.1% of RWAs with a surplus of 11.3% of RWAs
- No Subordination requirement for 2022: as of Sept 21, CET1 and sub bonds (including SNP) totalling 21.6% of RWA, 99% of MREL requirement.
Funding and liquidity indicators (at 30 June 2021)
| LCR | NSFR |
|---|---|
| 158% | 116% |
