2014 EU-wide Stress Test Summary for IT - Mediobanca - Banca di Credito Finanziario S.p.A.
Core Information
Bank Name: IT - Mediobanca - Banca di Credito Finanziario S.p.A.
LEI Code: PSNL19R2RXX5U3QWHI44
Key Financial Metrics
Actual Figures as of 31 December 2013
Operating profit before impairments: 958 min EUR
Impairment losses on financial and non-financial assets in the banking book: 1,421 min EUR
Common Equity Tier 1 (CET1) capital: 4,272 min EUR
Total Risk Exposure: 50,841 min EUR
CET1 ratio: 8.4%
Outcome of the Adverse Scenario as of 31 December 2016
3 yr cumulative operating profit before impairments: 229 min EUR
3 yr cumulative impairment losses on financial and non-financial assets in the banking book: 2,943 min EUR
3 yr cumulative losses from the stress in the trading book: 605 min EUR
Valuation losses due to sovereign shock after tax and prudential filters: 24 min EUR
CET1 capital: 3,766 min EUR
Total Risk Exposure: 60,379 min EUR
CET1 ratio: 6.2%
Outcome of the Baseline Scenario as of 31 December 2016
3 yr cumulative operating profit before impairments: 1,467 min EUR
3 yr cumulative impairment losses on financial and non-financial assets in the banking book: 2,016 min EUR
3 yr cumulative losses from the stress in the trading book: 339 min EUR
CET1 capital: 5,528 min EUR
Total Risk Exposure: 60,046 min EUR
CET1 ratio: 9.2%
CET1 Thresholds
Common EU-wide CET1 Threshold (5.5%): 3,321 min EUR
Common EU-wide CET1 Threshold (8.0%): 4,804 min EUR
Risk Exposure Breakdown (as of 31 December 2013)
Asset Type
Non-defaulted
Defaulted
Exposure Values (F-IRB)
Exposure Values (A-IRB)
Exposure Values (STA)
Risk Exposure Amounts (F-IRB)
Risk Exposure Amounts (A-IRB)
Risk Exposure Amounts (STA)
Value Adjustments and Provisions (F-IRB)
Value Adjustments and Provisions (A-IRB)
Value Adjustments and Provisions (STA)
Central banks and central governments
0
0
0
0
0
7,576
3
26
5
Institutions
0
0
0
0
0
10,422
11
6,021
11
Corporates
0
0
0
0
0
20,099
590
19,409
512
Corporates - Of Which: Specialised Lending
0
0
0
0
0
1,476
35
1,360
47
Corporates - Of Which: SME
0
0
0
0
0
1,240
150
1,086
114
Retail
0
0
0
0
0
15,112
1,252
9,609
712
Retail - Secured on real estate property
68.6%
0
0
0
0
4,368
306
1,630
174
Retail - Secured on real estate property - Of Which: Specialised Lending
37.8%
0
0
0
0
557
76
260
67
Retail - Secured on real estate property - Of Which: non-SME
69.0%
0
0
0
0
3,811
230
1,369
107
Retail - Qualifying Revolving
0
0
0
0
0
503
41
377
22
Retail - Other Retail
0
0
0
0
0
10,241
905
7,602
516
Retail - Other Retail - Of Which: SME
0
0
0
0
0
682
95
436
62
Retail - Other Retail - Of Which: non-SME
0
0
0
0
0
9,559
810
7,167
454
Equity
0
0
0
0
0
3,807
0
2,668
0
Securitisation
0
0
0
0
0
226
0
320
0
Other non-credit obligation assets
0
0
0
0
0
732
0
1,492
0
TOTAL
0
0
0
0
0
57,974
1,857
39,545
1,240
Risk Exposure Deductions
Securitisation and re-securitisations positions deducted from capital: 0 min EUR
Impairment Rates and Provisions (Baseline Scenario)
Year
Impairment Rate
Stock of Provisions
Coverage Ratio - Default Stock
2014
0.00%
1
0.00%
2014
0.58%
30
60.57%
2014
2.14%
1,184
50.52%
2015
0.48%
70
58.89%
2015
1.27%
1,352
48.68%
2015
2.34%
1,082
61.71%
2015
0.62%
166
35.60%
2015
0.26%
22
17.28%
2015
0.68%
145
41.59%
2015
6.07%
72
77.64%
2015
2.94%
1,068
61.99%
2015
1.93%
69
45.68%
2015
2.95%
1,013
63.30%
2015
0.07%
2
90.00%
2015
1.40%
2,547
54.05%
2015
2.88%
1,082
61.71%
2015
1.93%
69
45.68%
2015
2.95%
1,013
63.30%
2015
0.07%
2
90.00%
2015
1.40%
2,547
54.05%
2015
2.88%
1,082
61.71%
2016
0.55%
107
58.88%
2016
1.27%
1,520
48.23%
2016
2.34%
1,726
63.31%
2016
0.62%
212
31.40%
2016
0.26%
24
13.29%
2016
0.68%
187
37.36%
2016
6.79%
147
86.28%
2016
2.95%
1,707
63.53%
2016
1.93%
94
45.21%
2016
3.01%
1,632
64.84%
2016
0.07%
4
90.00%
2016
1.80%
3,508
55.32%
Impairment Rates and Provisions (Adverse Scenario)
Year
Impairment Rate
Stock of Provisions
Coverage Ratio - Default Stock
2014
0.50%
10
39.97%
2014
0.89%
68
72.97%
2014
2.19%
1,428
57.51%
2014
2.76%
1,457
63.23%
2014
0.82%
186
39.75%
2014
0.35%
23
18.33%
2014
0.89%
163
46.76%
2014
6.79%
76
81.92%
2014
3.38%
1,195
68.75%
2014
2.88%
84
56.61%
2014
3.44%
1,111
69.96%
2014
0.07%
2
90.00%
2014
2.02%
2,967
60.63%
2014
2.55%
2,795
61.26%
2015
0.51%
17
39.99%
2015
1.10%
144
76.79%
2015
1.68%
1,810
59.48%
2015
2.61%
1,941
64.58%
2015
0.85%
222
37.66%
2015
0.37%
25
16.27%
2015
0.92%
197
44.47%
2015
6.94%
118
86.46%
2015
3.54%
1,581
70.67%
2015
2.46%
109
59.91%
2015
3.62%
1,472
71.66%
2015
0.20%
9
90.00%
2015
2.55%
3,668
63.42%
2016
0.51%
23
39.99%
2016
0.92%
205
75.49%
2016
1.21%
2,047
58.34%
2016
2.75%
2,257
63.49%
2016
0.80%
256
35.61%
2016
0.40%
27
14.37%
2016
0.86%
228
42.43%
2016
6.79%
155
87.87%
2016
3.52%
1,946
69.10%
2016
2.51%
125
57.43%
2016
3.59%
1,796
70.45%
2016
0.19%
13
90.00%
2016
2.55%
4,326
62.65%
Summary of Key Observations
The bank experienced a decline in its CET1 ratio from 8.4% in 2013 to 6.2% under the adverse scenario by 2016, indicating a significant risk impact.
In contrast, the CET1 ratio under the baseline scenario increased to 9.2% by 2016, showing a more stable financial position.
The adverse scenario led to higher impairment losses and lower operating profits compared to the baseline scenario.
The bank had no mandatory conversions of instruments into ordinary shares in the 2014-2016 period.
The risk exposure under the adverse scenario was higher (60,379 min EUR) than under the baseline scenario (60,046 min EUR).
The bank's exposure values and provisions varied across different asset types and risk models (F-IRB, A-IRB, STA), with notable differences in the default and non-defaulted categories.
