bank Mediolanum closing the first half of the year with close net income 450 million euros: a growth of 24% compared to last year. This is mainly due to the net commissions of the managed savings bank headed by the CEO Massimo Doris, up 15% compared to 2023 above 587 million. The interest margin (418 million), benefited from a higher interest rate environment compared to 2023 and increased by 20%.
In terms of commercial results, Mediolanum Bank achieved total net inflows of 5.7 billion in the half year, of which more than 3 attributable to managed savings: this is an annual increase of 43%. At the end of the year, the bank expects net assets under management between 6.5 and 7 billion. In this context, CEO Doris commented, “assets exceed 129 billion”.
The 5% deposit account
“In a context of relative stability of interest rates”, continues Doris, “which remained higher than the forecast at the beginning of the year, we address important commercial initiatives with customers such as 5% deposit accountproceeding at the same time to benefit from a high interest marginยป. All this, he concluded, “translates into a net profit that rises to 450 million in six months, 24% more than the same period of 2023, with net commissions, the basis of our statement of income, which continues to grow” . (All rights reserved)