Mediobanca – 2021 EU-Wide Stress Test Results

Mediobanca was subject to the 2021 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with the Bank of Italy, the European Central Bank (ECB), and the European Systemic Risk Board (ESRB).

Mediobanca notes the announcements made today by the EBA on the EU-wide stress test and fully acknowledges the outcomes of this exercise.

The 2021 EU-wide stress test does not contain a pass fail threshold and instead is designed to be used as an important source of information for the purposes of the SREP. The results will assist competent authorities in assessing Mediobanca's ability to meet applicable prudential requirements under stressed scenarios.

The adverse stress test scenario was set by the ECB/ESRB and covers a three-year time horizon (2021-2023). The stress test has been carried out applying a static balance sheet assumption as of December 2020, and therefore does not take into account future business strategies and management actions. It is not a forecast of Mediobanca profits.

The Mediobanca Common Equity Tier 1 ratio (CET1 ratio) resulting from the stress test for 2023, the final year considered in the exercise, would stand at:

-17.19% on a phased-in basis, in accordance with the transitional arrangements for 2023, and 15.79% on a fully loaded basis, under the baseline scenario; 

-11.49% on a phased-in basis, in accordance with the transitional arrangements for 2023, and 9.73% on a fully loaded basis, under the adverse scenario;

Milan, 30 July 2021