Italian banking company Banca Mediolanum S.p.A. (BMED.MI,BNMDF) on Thursday reported higher first-quarter profit, driven by strong growth in fee income and net interest income.
Net income increased 13% to 276.2 million euros from 243.3 million euros in the year-ago quarter.
Net commission income rose 12% to 353.5 million euros from 316.2 million euros last year. Net interest income surged 31% to 236.3 million euros from 180.0 million euros a year earlier, mainly reflecting lower funding costs and higher customer deposit contributions.
Profit before tax increased 15% to 379.5 million euros from 330.0 million euros last year.
Operating margin climbed 25% to 350.1 million euros from 279.1 million euros in the prior-year quarter, while contribution margin rose 18% to 581.9 million euros.
Looking ahead, the company said it expects 2026 net inflows into managed assets to remain solid at around 9 billion euros, assuming stable markets.
Massimo Doris, CEO of Banca Mediolanum, comments: "2026 opened with a particularly positive first quarter for Banca Mediolanum, fully in line with the path of growth and solidity that has characterised recent years. Net income recorded a significant increase of 13%, reaching €276.2 million, driven in large part by the quality of our core business, with operating margin up 25% and net interest income rising by 31%. Particularly noteworthy is the development of the loan book, exceeding €19 billion, confirming Banca Mediolanum's increasingly central role for Italian households in the areas of mortgages and loans."
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.