NET INCOME: 85 million euro
ASSETS UNDER ADMINISTRATION: 81 billion euro
TOTAL NET INFLOWS: 1,207 million euro
of which MUTUAL FUNDS: 1,154 million euro
COMMON EQUITY TIER 1 RATIO (CET1): 20.1%
The Board of Directors of Banca Mediolanum S.p.A. met today in Basiglio (MI) and approved the Consolidated Interim Financial Statements as at March 31, 2017. Consolidated Group Results in the first quarter are once again marked by the significant year-on-year increase in management fees, thanks to strong net inflows into mutual funds. On the other hand, as expected, net interest income suffered a significant decrease due to the decline of interest income from the banking book. The impact of the 13 million euro to support the banking system was significant, with a contribution more than double that of last year.
Therefore:
• Group Net income for the quarter was at 84.9 million euro, an increase of 16% with respect to the same period
as last year.
• Assets under Administration increased to 81,012 million euro, an increase of 14% with respect to March 31,
2016 and by 4% with respect to the end of 2016.
• The Common Equity Tier 1 Ratio (CET1) as at March 31, 2017 amounted to 20.1%, remaining among the
highest levels in the Italian Banking Groups.
In more detail, with reference to Banca Mediolanum:
• Total Net Inflows were positive at 1,034 million euro for the quarter. In particular, Net inflows into Mutual
Funds (including those underlying Unit-Linked policies) totalled 977 million euro.
• Mortgages and Loans totalled 6,908 million euro, increasing 8% with respect to March 31, 2016 and 1% with
respect to the end of 2016.
The percentage of Net Non-Performing Loans out of Total Loans was 0.8%.
• The number of Licensed Advisors as at March 31, 2017 came to 4,330.
• The number of Customers as at March 31, 2017 totalled 1,191,304, an increase of 4% with respect to the same
date last year.
With reference to the Foreign Markets:
• Net Income for the foreign markets was at 1.4 million euro.
• Assets under Administration of the foreign banking subsidiaries overall totalled 4.707 million euro, a growth
of 18% with respect to March 31, 2016 and a decrease of 5% since the beginning of the year.
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Please take note that the new legislative decree February 15, 2016 n. 25, which implements the most recent European Transparency Directive, has eliminated the obligation to publish quarterly results. The Quarterly Report as at March 31, 2017 should be considered voluntary reporting by Banca Mediolanum S.p.A. in line with those previously provided and will be made available at the company's Registered Office, at the Spafid Connect S.p.A. storage service at the address www.emarketstorage.com and on the website www.bancamediolanum.it in the section Investor Relations within five days of the Board's approval. The Officer responsible for preparing BancaMediolanum S.p.A accounting documents, Angelo Lietti, declares that, in compliance with the requirements of paragraph 2 of section 154 bis of the Consolidated Finance Act, the financial information contained herein reflects the accounting entries, records and books. Attachments:
• Balance Sheet as at March 31, 2017
• Reclassified Income Statement as at March 31, 2017
• Segment Report as at March 31, 2017
Basiglio - Milano 3 City, May 9, 2017
Contacts:
Media Relations Investor Relations
Roberto De Agostini Alessandra Lanzone
Tel +39 02 9049 2100 Tel +39 02 9049 2039
e-mail: roberto.deagostini@mediolanum.it e-mail: alessandra.lanzone@mediolanum.it
STATEMENT OF FINANCIAL POSITION
Assets
10. Cash and cash equivalents 87.088 86.875 20. Financial assets held for trading 660.643 368.268 30. Financial assets at fair value 17.859.185 17.363.617 40. Available-for-sale financial assets 13.217.199 11.547.266 50. Held-to-maturity investments 1.227.651 1.415.684 60. Loans to banks 936.168 721.090 70. Loans to customers 7.884.371 8.623.784 80. Hedging derivatives 532 532 100. Equity investments 357.094 357.094 110. Reinsurer's share of technical reserves 68.091 68.676 120. Tangible assets 219.155 219.487 130. Intangible assets 199.169 199.382 of which: - goodwill 125.625 125.625 140. Tax assets 449.182 460.832 a) current 320.000 331.889 b) deferred 129.182 128.943 b1) of which convertible into tax credit (Law 214/2011) 7.033 7.033 150. Non-current assets and disposal groups 98.163 98.175 160. Other assets 360.200 440.598 TOTAL ASSETS 43.623.891 41.971.360 €/'000 March 31, 2017 December 31, 2016Liabilities and Shareholders' Equity10. Due to banks 513.890 462.182 20. Due to customers 19.732.073 18.494.400 30. Securities issued 174.736 187.425 40. Financial liabilities held for trading 360.837 371.597 50. Financial liabilities at fair value 4.644.879 4.340.307 60. Hedging derivatives 41.276 46.977 80. Tax liabilities 107.779 94.409 a) current 49.911 20.843 b) deferred 57.868 73.566 100. Other liabilities 515.031 667.707 110. Employee completion-of-service entitlements 11.158 11.510 120. Provisions for risks and charges: 219.379 222.502 a) severance benefits and similar obligations 644 644 b) other provisions 218.735 221.858 130. Technical Reserves 15.103.568 14.921.684 140. Valuation reserves 90.452 127.847 170. Reserves 1.564.402 1.169.825 175. Interim dividend (-) (117.705) (117.705) 180. Share premium account 1.006 902 190. Share capital 600.089 600.079 200. Treasury shares (-) (23.815) (23.815) 220. Net profit (loss) for the period (+/-) 84.856 393.527 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 43.623.891 41.971.360 €/'000 March 31, 2017 December 31, 2016Income StatementEntry fees 19.836 17.570 Management fees 233.621 200.547 Performance fees 66.832 50.445 Banking services fees 21.824 20.394 Other fees 9.236 8.108 Total commission income 351.349 297.064 Net interest income 44.959 61.574 Net income (loss) on investments at fair value 1.641 (10.568) Net financial income 46.600 51.006 Net insurance revenues (excluding commissions) 9.360 7.443 Equity contribution - 613 Realized gains (losses) on other investments 2.626 2.091 Impairment on loans (3.971) (4.026) Impairment on other investments (1.049) (1.411) Net income (loss) on other investments (2.394) (3.346) Other revenues 7.019 5.678 Acquisition costs and sales network commission expenses (128.506) (110.355) Other commission expenses (15.808) (13.495) CONTRIBUTION MARGIN 267.620 234.607 Administrative expenses (124.781) (117.335) Contributions and Guarantee Funds (12.669) (4.267) Amortisation & depreciation (8.514) (7.176) Net provisions for risks (10.296) (12.489) TOTAL COSTS (156.260) (141.267) PROFIT BEFORE TAX 111.360 93.340 Income tax (26.504) (20.157) NET PROFIT (LOSS) FOR THE PERIOD 84.856 73.183 €/'000March 31, 2017 March 31, 2016
PROFIT & LOSS FIGURES DATA BY DIVISION AS AT MARCH 31, 2017
MEDIOLANUM GROUP
Euro thousands BANKING ASSET MANAGEMENT INSURANCE OTHER TOTAL SPAIN GERMANY Entry fees 16.762 16.762 2.787 287 19.836 Management fees 128.261 91.104 219.365 12.030 2.226 233.621 Performance fees 42.537 20.168 62.705 3.287 840 66.832 Banking services fees 16.057 16.057 1.848 3.937 (18) 21.824 Other fees 98 8.226 443 8.767 357 112 9.236 Total commission income 16.155 195.786 111.715 323.656 20.309 7.402 (18) 351.349 Net interest income 40.209 (108) 2.362 42.463 2.795 (299) 44.959 Net income (loss) on investments at fair value 1.828 (279) 1.549 91 1 1.641 Net financial income 42.037 (108) 2.083 44.012 2.886 (298) 46.600 Net insurance revenues (excluding commissions) 6.119 6.119 2.982 259 9.360 Equity contribution Realized gains (losses) on other investments 2.250 98 273 2.621 5 2.626 Impairment on loans (3.866) (3.866) (87) (18) (3.971) Impairment on other investments (471) (579) (1.050) 1 (1.049) Net income (loss) on other investments (2.087) 98 (306) (2.295) (86) (13) (2.394) Other revenues 3.046 130 3.208 6.384 593 88 (46) 7.019 Acquisition costs and sales network commission expenses (12.719) (69.541) (35.803) (118.062) (9.514) (930) (128.506) Other commission expenses (4.838) (3.764) (2.279) (10.881) (1.674) (3.271) 18 (15.808) CONTRIBUTION MARGIN 41.594 122.603 84.737 248.934 15.496 3.237 (46) 267.620 Administrative expenses (57.650) (26.559) (26.072) (110.281) (9.373) (5.173) 46 (124.781) Contributions and Guarantee Funds (12.173) (12.173) (380) (116) (12.669) Amortisation & depreciation (5.450) (442) (1.862) (7.754) (544) (216) (8.514) Net provisions for risks (2.219) (5.120) (2.769) (10.108) (188) (10.296) TOTAL COSTS (77.492) (32.121) (30.703) (140.316) (10.485) (5.505) 46 (156.260) PROFIT BEFORE TAX (35.899) 90.482 54.034 108.617 5.011 (2.268) 111.360 Income tax (25.159) (1.168) (177) (26.504) NET PROFIT (LOSS) 83.458 3.843 (2.445) 84.856ITALY FOREIGN CONSOLIDATION
ADJUSTMENTS TOTAL
GRUPPO MEDIOLANUMPROFIT & LOSS FIGURES DATA BY DIVISION AS AT MARCH 31, 2016MEDIOLANUM GROUP Euro thousands BANKING ASSET MANAGEMENT INSURANCE OTHER TOTAL SPAIN GERMANY Entry fees 14.256 14.256 3.151 163 17.570 Management fees 111.710 77.749 189.459 9.243 1.846 (1) 200.547 Performance fees 30.226 17.382 47.608 2.463 374 50.445 Banking services fees 15.664 15.664 1.205 3.539 (14) 20.394 Other fees 118 7.155 422 7.695 297 116 8.108 Total commission income 15.782 163.347 95.554 274.682 16.359 6.038 (15) 297.064 Net interest income 53.815 (13) 3.069 56.871 4.814 (111) 61.574 Net income (loss) on investments at fair value (11.458) 855 (10.603) 38 (3) (10.568) Net financial income 42.357 (13) 3.924 46.268 4.852 (114) 51.006 Net insurance revenues (excluding commissions) 5.436 5.346 1.962 135 7.443 Equity contribution 613 613 613 Realized gains (losses) on other investments 1.493 111 477 2.081 10 2.091 Impairment on loans (3.826) (3.826) (201) 1 (4.026) Impairment on other investments (152) (1.261) (1.413) 2 (1.411) Net income (loss) on other investments (2.485) 111 (784) (3.158) (189) 1 (3.346) Other revenues 1.948 162 2.953 5.064 581 76 (43) 5.678 Acquisition costs and sales network commission expenses (15.245) (56.191) (30.330) (101.766) (7.639) (951) (110.355) Other commission expenses (4.662) (2.965) (1.751) (9.378) (1.211) (2.920) 14 (13.495) CONTRIBUTION MARGIN 37.694 104.451 74.913 613 217.670 14.715 2.265 (44) 234.607 Administrative expenses (62.446) (18.305) (23.754) (104.505) (7.518) (5.356) 44 (117.335) Contributions and Guarantee Funds (3.931) (3.931) (336) (4.267) Amortisation & depreciation (4.572) (335) (1.755) (6.662) (399) (115) (7.176) Net provisions for risks (2.690) (6.160) (3.352) (12.203) (286) (12.489) TOTAL COSTS (73.640) (24.801) (28.861) (127.302) (8.539) (5.471) 44 (141.267) PROFIT BEFORE TAX (35.945) 79.650 46.051 613 90.370 6.176 (3.206) 93.340 Income tax (19.242) (787) (128) (20.157) NET PROFIT (LOSS) FOR THE PERIOD 71.128 5.389 (3.334) 73.183 CONSOLIDATION ADJUSTMENTS TOTAL ITALY FOREIGN Pianificazione e

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