Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

BALANCE SHEETThe main balance-sheet items, to which Mediobanca contributes justover half, showed the following trends for the twelve months under review(comparative data as at 30 June 2010):Funding — this item fell by 4%, from €53,852.3m to €51,712.9m,reflecting the reduced use of the banking system (down from €5,951.4m to€4,729.2m) and short-term debt securities (down from €798.4m to€318.4m), only in part offset by the increase in the CheBanca! retail share(up from €9,561.1m to €9,960.3m). Debt securities in issue were more orless stable at €34,142.1m, compared to €34,394.9m last year, with newissues totalling €6,826.4m, redemptions and market repurchases of€7,162.7m, and other upward adjustments (exchange rates, amortized costand hedges) amounting to €83.5m. Two subordinated lower tier II bondswere also issued during the period, in an amount of approx. €1bn.Loans and advances to customers — these were up €2.5bn, from€33,701.5m to €36,225.6m, with all business segments recovering:corporate finance up 8.8%, from €16,559.5m to €18,062.2m; consumercredit up 7.9%, from €8,271m to €8,926.9m; and mortgage lending up15.7%, from €3,545.8 to €4,102.6m.30/6/10 30/6/11 Change€m €m %Corporate and investment banking ..... 21,144.2 22,479.7 +6.3– of which: .................... 4,544.7 4,417.6 –2.8Retail and private banking ............ 12,557.3 13,745.9 +9.5– of which: consumer credit ...... 8,271.0 8,926.9 +7.9mortgage lending .... 3,545.8 4,102.6 +15.7private banking ...... 740.5 716.4 –3.3TOTAL LOANS AND ADVANCES TOCUSTOMERS ........................ 33.701.5 36,225.6 +7.5The share of the loan book accounted for by the retail segment rosefrom 37% to 38% (with mortgage lending rising from 10% to 11%), at theexpense of corporate and investment banking, the share of which fell from63% to 62%, reflecting the slowdown in leasing activity (down from 13%to 12%); while the contribution from corporate lending and structuredfinance and consumer credit was stable, at 50% and 25% of the loan bookrespectively.– 23