June 06, 2024 06:21 GMT
Banca Mediolanum Sales: Solid, Few Credit Implications
FINANCIALS
Banca Mediolanum (MEDIM: BBB/BBB) May sales figures are also out and look solid (marginally lagged Fineco, perhaps) but, again, few credit laterals to take from this.
- May net inflows are EUR789m (o/w EUR609m in asset mgmt), lower than April (EUR1.03bn and 621m, respectively) though only a very minor slowdown in AM and better than the YTD run-rate.
- The lending business accelerated m/m (EUR252m of loans granted vs. Apr: 204m) and the group gained 17,000 new customers in the month, broadly in line with the YTD run-rate.
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