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 (22 segments)
I
Interviewer0:12
Welcome, once again we have the opportunity to meet with the CEO of Banca Mediolanum to comment on the results achieved in the last quarter, which in this case complete the entire 2024. So welcome, Massimo Doris.
M
Massimo Doris0:25
Thank you very much, greetings to everyone.
I
Interviewer0:27
I'm going to start with two data points that represent you well, and that have been announced today. A profit of 1.120 billion, which is 36% more than the previous year, and total client assets exceeding 138 billion. Once again, record figures. How do you explain them?
M
Massimo Doris0:46
They are explained by a model that is highly appreciated by savers' families, a model that combines very advanced and efficient digital services, because nowadays banking operations are carried out through mobile phones, together with highly trained advisors, our Family Bankers, to address much more complex issues than making a simple transfer or paying a bill. So the combination of digitalization and personalized service that brings the service to your home is the secret of this success.
I
Interviewer1:27
So, one of your strengths is also your presence in the territory.
M
Massimo Doris1:32
Yes, because if digitalization brings the bank to anyone's pocket, our Family Bankers bring the service directly to the client's home. More and more clients appreciate this model, as I said, in 2024 we acquired almost 200,000 new clients and we are approaching two million clients.
I
Interviewer1:58
With all this, we can say that your model, in a context of transformation and in a dynamic period, remains and continues to be successful.
M
Massimo Doris2:08
Well yes, beyond the profit, total client assets and clients acquired, which were a record with almost 198,000 new clients, there are also the net inflows, since we achieved 10.4 billion in total net inflows, a record, of which 7.6 billion in managed savings, which is another record for Banca Mediolanum.
I
Interviewer2:39
Added to this are also the January results that you have announced today.
M
Massimo Doris2:43
Yes, because we had an extraordinary 2024 and 2025 has started very well with total inflows of 863 million, of which 487 million in managed savings. In addition, credit, loans and mortgages have started strongly, and protection as well. So if the day starts well, we can say that 2025 should also be a good year.
I
Interviewer3:11
And are these good results also seen in Spain?
M
Massimo Doris3:14
Yes, because these figures not only correspond to Italy, but we are also present in Spain, and Spain has also done very well, with a net profit of over 81 million, growing 31%, total client assets have grown because net inflows were significant, markets performed well, and 1.5 billion in net inflows were achieved in Spain. And for Spain these are truly extraordinary figures, and also the number of clients has grown by 10%, so also great satisfaction from the Iberian Peninsula.
I
Interviewer3:51
And satisfaction that I imagine also reaches the shareholders?
M
Massimo Doris3:54
Well yes, because the dividend of one euro per share is a dividend that had never been paid before, so it is really very, very important, and it has been very well received by all shareholders.
I
Interviewer4:11
May I ask you if, once again, you confirm that these results are the fruit of teamwork?
M
Massimo Doris4:16
They are the fruit of markets that have gone in a certain direction, because we must not forget that, and, without a doubt, of the effort made by all members of the Mediolanum Group, and I refer to both employees and Family Bankers, so much so that we have decided to involve them in this extraordinary result. Because part of those profits are also due to how the market has performed and to really significant performance fees, so we have decided to distribute an extraordinary bonus of 2,000 euros to each Family Banker and employee of the entire group, to thank them and share with them the effort made and the results achieved.
I
Interviewer5:05
So, sharing successes, but at this point I must ask, how do you avoid becoming complacent, how do you keep the energy, how do you keep raising the bar?
M
Massimo Doris5:16
Yes, an entrepreneur can be satisfied, but must never become complacent, must always look forward. And besides, competition always keeps you alert, because it is a constant stimulus, since others are not sitting still either. So, combining both things, you can significantly improve future growth opportunities.
I
Interviewer5:43
So, at this point, good work. Will we see you at the next appointment for the first quarter of this year?
M
Massimo Doris5:48
Yes, on May 8th for the close of the first quarter of 2025.
I
Interviewer5:53
Well, thank you and good work.
M
Massimo Doris5:54
Thank you, and greetings to everyone.
