Mediobanca beats estimates with first-half net profit

Italy's Mediobanca beat forecasts with its first-half net profit thanks to a rise in net interest income benefiting from high rates, and its wealth management business, the financial group said on Friday. First-half net profit came in at 611 million euros ($657.99 million), 10% higher from a year ago, beating an analyst consensus provided by the bank of 596 million euros. Revenues grew 4% to 1.73 billion euros, broadly in line with estimates, with net interest income (NII) of 997 million euros, 18% higher year-on-year.

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