(Reuters) – Italian bank Banca Mediolanum posted an 18% jump in nine-month net profit to 674.3 million euros, the bank said on Thursday, but trimmed its 2024 net interest income (NII) guidance, citing easing interest rates.
The Milan-based bank said it now expects an 8% year-on-year growth of its 2024 NII, down from the previously forecast 10%.
However, Banca Mediolanum expects its net inflows into managed assets for the year to reach around 7.5 billion euros ($8.11 billion), up from the 6.5-7 billion euros range it had provided last August.
The lender announced an interim dividend of 0.37 euros per share, which Chief Executive Massimo Doris said demonstrated “an increasing market share and ongoing value creation for our shareholders”.
($1 = 0.9250 euros)
(Reporting by Michela Stasio and Philippe Leroy Beaulieu in Gdansk; Editing by Jane Merriman)
