Banca Mediolanum Explained

Banca Mediolanum
Native Name:Banca Mediolanum S.p.A.
Native Name Lang:it
Traded As:
FTSE MIB Component
Location:Basiglio, Metropolitan City of Milan, Italy
Industry:Financial services
Services:Retail banking, life and non-life insurance, mutual funds
Net Income: €249.8 million
Net Income Year:3Q 2020
Assets: €87.6 billion
Assets Year:3Q 2020
Equity: €2.070 billion
Equity Year:2015
Ratio:19.66% (CET1)
Footnotes:source[1]

Banca Mediolanum S.p.A. is an Italian bank, insurance and asset management conglomerate which is the parent company of Gruppo Mediolanum (Mediolanum Group). The CEO of the company is Massimo Antonio Doris, and the bank is listed on the Borsa Italiana and is a constituent of the FTSE MIB index from the end of 2015 when it incorporated its parent company Mediolanum S.p.A. Mediolanum Group was founded by Ennio Doris, the current second largest shareholders of the conglomerate. The conglomerate provided asset management, banking, and insurance services to customers in Italy, Spain (as Banco Mediolanum and Fibanc) and Germany (Bankhaus August Lenz & Co.)

Despite being ranked sixth by market capitalization among financial services companies (behind Intesa Sanpaolo, UniCredit, Assicurazioni Generali, UnipolSai and Mediobanca in 2016), the conglomerate (Mediolanum S.p.A.) was ranked 13th by total assets among bank (2014 data),[2] as well as much smaller in size by risk-weighed assets, thus the conglomerate (Mediolanum S.p.A nor Banca Mediolanum) was not designated as a "significant institution" under European Banking Supervision.[3] However, after Banca Mediolanum reversed the merger with Mediolanum, the European Central Bank started a comprehensive assessment to assess the conglomerate and decided the conglomerate would not be included.[4] Eventually, Banca Mediolanum has been designated in 2021 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank.[5]

External links

Notes and References

  1. Web site: 2015 Bilancio Consolidato. 2015 Consolidated Annual Report. 8 April 2016. 1 May 2016. Banca Mediolanum. Italian.
  2. Web site: LE PRINCIPALI BANCHE ITALIANE. 10 November 2015. 21 February 2016. Ricerche e Studi. Italian. 28 October 2017. https://web.archive.org/web/20171028131823/http://www.mbres.it/sites/default/files/resources/download_it/ps_6_8.pdf. dead.
  3. Web site: Aggregate report on the comprehensive assessment, October 2014. PDF. European Central Bank. 26 October 2014.
  4. Web site: ECB to conduct comprehensive assessment of four banks in 2016. 10 May 2016. 11 May 2016. European Central Bank.
  5. Web site: European Central Bank . List of supervised entities . .