Mediobanca capital ratios comfortably higher than the requirement set by the ECB

Mediobanca has received notice from the ECB regarding the Pillar 2 Capital Requirement (P2R) to be met at the consolidated level starting from 1 January 2024, in accordance with the outcome of the Supervisory Review and Evaluation Process (SREP) for 2023.

In particular, the overall capital requirements to be met are 8.15% for the Common Equity Tier 1 ratio, 9.99% for the Tier 1 ratio, and 12.45% for the Total Capital Ratio.[1]

The requirement is made up of:

  • 4.5% Common Equity Tier 1 ratio;

  • Pillar 2 requirement 1.82%, 1.02% by way of Common Equity Tier 1 ratio and 1.37% of Tier 1 ratio;

  • Capital Conservation Buffer of 2.5%, all of which Common Equity Tier 1 ratio.

  • A new O-SII buffer of 0.125%[2], all of which Common Equity Tier 1 ratio, after Mediobanca was included among the banks classified as systemically important financial institutions.

Mediobanca’s capital ratios at the consolidated level as at 30 September 2023, including the dividend accruals with a payout ratio of 70%, were comfortably higher than the requirements set, as follows:

  • 15.5% for the Common Equity Tier 1 ratio;

  • 17.6% for the Total Capital ratio.

Milan, 1 December 2023

 

[1] Ratios do not include the Countercyclical Buffer of 0.13% as at 30/9/23.

[2] Fully-loaded buffer at 0.25% in 2025.