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Mediobanca is back in black

Mediobanca, Italy&rsquo;s leading investment bank, yesterday made a first-quarter pre-tax profit of &euro;200.6m (&pound;180.2m), after three quarters of losses, lifted by stronger financial markets and higher commission income.<br /><br />The group reported net fees and commissions rose 30 per cent to &euro;145m from &euro;111m in the quarter, and trading profit was &euro;266m. In the last quarter Mediobanca posted a loss of &euro;37m.<br /><br />Chief executive Alberto Nagel said that the bank may consider resuming the payment of a cash dividend on future results.