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