It should be noted that CONSOLIDATED GROUP RESULTS were influenced by the very poor trend in the financial markets during the last few months of 2008 and in the first quarter of 2009, particularly impacting commission income from managed assets and the volumes of Life investment policies.
In light of the aforementioned:
The same considerations made for the Group can also be applied to the DOMESTIC MARKET (Net Income and Assets include Banca Esperia for the 48.5% share pertaining to the Group) where the following results were achieved:
It should be highlighted that Banca Mediolanum registered significant business progress.
In particular,
Highlights in particular with respect to Banca Esperia:
With reference to the FOREIGN MARKETS:
Significant events subsequent to the close of the quarter:
Banca Mediolanum introduced the ‘Freedom Account’ on the market.
The launch of the new service had an explosive effect on Total Net Inflows in April, which are estimated to be around 500 million euro and constitute a historic record for Mediolanum.
Thus, Total Net Inflows for the first four months of the year are estimated at about 1 billion euro, an increase of 33% with respect to the same period last year.
In an effort to provide more complete disclosure about the results as at March 31, 2009, we have attached the segment report detailing income statement data, reclassified to reflect the criteria used by the Mediolanum Group.
A presentation in English of the financial information contained herein will be available at the Italian Stock Exchange.
The Interim Financial Statements as at March 31, 2009 will be available at the company’s Registered Office in Basiglio - Milano 3, Palazzo Meucci - Via F. Sforza, on the website www.mediolanum.it and at Borsa Italiana S.p.A.
The Officer responsible for preparing Mediolanum S.p.A accounting documents, Luigi Del Fabbro, declares that, in compliance with the requirements of the second paragraph of section 154 bis of the Consolidated Finance Act, the financial information contained herein reflects the accounting entries, records and the books.
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The Board of Directors has nominated Massimo Antonio Doris as Vice-President of the Company sobstituing Edoardo Lombardi, who will continue as a member of the Board of Directors of the Company with the mandate for the management and the development of the foreign banking subsidiaries and for corporate relations as Vice-president of Banca Mediolanum. Additionally, Edoardo Lombardi assumed the role of President of Banca Esperia S.p.A. in which the Board of Mediolanum S.p.A. resolved today to increase its share from 48.5% to 50%, as did the other shareholder, following the leaving of Stefano Preda.
The Board has also resolved on making the last capital increase pursuant to art. 2443 of the Italian Civil Code – pertaining to the 2005 stock option plan that is almost completed– for the plan dedicated to employees. The document drafted according to art. 84 bis, paragraph 5, of “Regolamento Emittenti” will be promptly made available to the public.
Basiglio - Milano 3 City, May 13, 2009
Attachments:
| Contacts: Media Relations Roberto Scippa Tel +39 02 9049 2902 Fax +39 02 9049 2345 e-mail: gmmedia@mediolanum.it |
Investor Relations Alessandra Lanzone Tel +39 02 9049 2039 e-mail: investor.relations@mediolanum.it |
