Mediobanca S p A : Group capital buffer again comfortably exceeds ECB requirement

The ECB has sent Mediobanca notice regarding Pillar 2 Capital Requirement. This will be met at the consolidated level starting 1 January 2023, as per the results of the Supervisory Review and Evaluation Process for 2022. The total capital requirements must be met at 7.95% for Common Equity Tier 1 ratio and 9.76% for Tier 1 ratio. This includes: Common Equity Tier 1 requirement, 4.5%; Additional Pillar 2 requirement, 1.68%, and 1.26% of Tier 1; Capital Conservation buffer of 2.5%; all Common Equity Tier 1 requirements. Mediobanca's capital ratios as of 30 September 2022 at the consolidated level, which includes dividend accruals with a payout rate of 70%, were: 15.1% Common Equity Tier 1 Ratio, 16.9% Total Capital Ratio, calculated using the phase-in criteria for 2022; 14.0% Common Equity Tier 1 Ratio, 16.9% Total Capital Ratio, calculated using the fully-phased criteria. 16.0% Total Capital Ratio, calculated applying the fully phased criteria. 16.0% Common Equity Tier 1 and 16.0% Common Equity Tier 1 %, 16.0% Common Equity Tier 1, 16.0% Common Equity Tier 1, 16.0% Common Equity Tier 1 based on the Total Capital, calculated by the Total Capital, calculated using the ratio, calculated using the full-phased. Disclaimer Mediobanca S.p.A. published the content on December 20, 2022. It is solely responsible. Duration: Auto. 2 months 3 months 6 month 9 months 1 year 2years 5 years 10 years max. Mean consensus OUTPERFORM Number Analysts 12 Average Target Price 10,60 EUR Spread/Average Target 18,6%