The quarterly results were in line with expectations. Although the evolution of the mix of assets under management confirmed mounting risk aversion, the group did not experience any outflows, while its capital position proved immune to the sovereign spreads’ widening. It remains that an Italy-exit would translate into redomination losses and liquidity stress, explaining why the stock has been treated like its domestic peers.
25 Oct 2018
Capital position intact
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Capital position intact
Mediobanca - Banca di Credito Finanziario S.p.A. (MB:WBO) | 0 0 -0.2% | Mkt Cap: 8,706m
- Published:
25 Oct 2018 -
Author:
David Grinsztajn -
Pages:
2
The quarterly results were in line with expectations. Although the evolution of the mix of assets under management confirmed mounting risk aversion, the group did not experience any outflows, while its capital position proved immune to the sovereign spreads’ widening. It remains that an Italy-exit would translate into redomination losses and liquidity stress, explaining why the stock has been treated like its domestic peers.