About Massimo Doris
Massimo Doris, Chief Executive Officer of Banca Mediolanum, commented on the group's financial results for the first nine months of 2018, which were approved by the board of directors on November 6, 2018. He stated that he was "definitely satisfied" with the performance, reporting an operating margin of 221 million euros, a 26% increase compared to the same period in 2017. Group net income totaled 272 million euros, which he noted was in line with 2017, a year that included extraordinary events such as the sale of Banca Esperia. Doris highlighted that management fees reached 253 million euros and net interest income was 49 million euros for the third quarter alone.
Doris also reported that total assets under management surpassed 77 billion euros as of September 30, 2018, despite market volatility. He noted that Banca Mediolanum continued to grant loans to customers, with 1.451 billion euros in new loans during the first nine months, a 27% increase year-over-year, bringing the total credit book to over 8 billion euros. He added that the bank's net non-performing loan ratio remained at 0.72% and its Common Equity Tier 1 ratio was over 20%. Doris attributed customer trust to these figures, citing a customer satisfaction index of 85.7% measured by Doxa. The board also approved an interim dividend of 20 euro cents per share for 2018.
Source: AI-verified profile updated from Massimo Doris's recent appearances.
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Transcript (12 segments)
P
Paola0:09
Welcome back, as always, at the close of the day when the quarterly data of Banca Mediolanum are communicated and made official. We are spending a few minutes with Massimo Doris to understand what lies behind these numbers. So welcome, Massimo.
M
Massimo Doris0:23
Thank you, thank you Paola.
P
Paola0:26
So, let's talk about the first half of this 2022. We often find ourselves commenting on data that are extraordinary, you define them as such. They are important data, we often talk about new records. In a way, it was also the case for this semester, which you defined as extraordinarily positive. Moreover, I also know that you stated in the press release that everything stems from your identity culture of the client. So I ask you, what does this mean and above all, how does it translate?
M
Massimo Doris0:55
It is an extraordinarily positive first half, especially considering the political, social, market, and economic point of view, which is very, very complex and difficult.
P
Paola1:10
But why extraordinarily positive?
M
Massimo Doris1:12
Because our numbers are very good. Very good because we look at the client not only from an investment point of view but 360 degrees. So alongside the inflows, which were excellent, truly just slightly below the record year of last year, there is the credit side. Clients need mortgages, loans, overdrafts. Well, in these first 6 months we disbursed 1 billion 900 million, exactly what we did last year, so truly important figures. And then there is the protection side, the goal of protecting our clients from major risks, and here too we achieved numbers decidedly higher than those of last year.
P
Paola1:59
You always talk about the quality of your inflows. Does this orientation towards value translate into concrete results?
M
Massimo Doris2:05
Yes, because beyond the results I mentioned of inflows, credit, and protection, which also translate economically with an Operating Margin growing 25% compared to last year, we also have growth, precisely, of clients. We acquired this year, in these first 6 months, 91,700 clients, which is a truly incredible number, a record number. And we also grew in the number of Family Bankers, +185 Family Bankers in just 6 months. These two numbers include growth not only in Italy but also in Spain, which continues to grow truly in all sectors, like Italy, very well in inflows, credit, and protection, but also client growth, the most important thing, and of Family Bankers, that is, the tutors, so to speak, of our clients. And all this, precisely, in a moment of strong uncertainty.
P
Paola3:07
That uncertainty that you also well described in the letter addressed not only to your clients but to all Italian savers, which was published a few weeks ago, that you sent. So, this uncertainty, how do you interpret it? How should we look ahead? What are the information, the vision, that you want to convey?
M
Massimo Doris3:23
That it is a difficult moment, as I said at the beginning, there is no doubt. Just open the newspapers, just watch the news, it is certainly a complicated moment. But precisely for this reason, I felt, we felt the need to speak not only to our clients but to savers in general, because in these situations I believe it is essential to lift ourselves up a bit and look at things with a bit more detachment. And looking at history, we know that difficult situations, even more complex than this, have already happened. And what happened? They were overcome. Problems come, sometimes we create them, man creates them, some men create them, others work instead to solve them, and every time the situations have been resolved and transformed into progress. And I am certain that even in this case it will happen. I absolutely do not deny, I repeat, the difficulties of this moment, but by working they can be overcome, and only if we have this vision can we truly get moving and do the right things to overcome this crisis. So optimism, a positive vision of the future is essential for this positive future to be realized. So lift your gaze.
P
Paola4:52
We'll see each other in the short term, instead, on November 9th for the next results, but in short, always with our gaze upward.
M
Massimo Doris4:59
Thank you, greetings to everyone. Goodbye.
