Italian lender Monte dei Paschi is facing a capital shortfall of €8.8bn (£7.5bn), higher than the €5bn previously estimated by the bank, the European Central Bank has said. It comes after Italy approved a €20bn fund to prop up its embattled banking sector on 23 December. Monte dei Paschi had ... Read More »
Italian lender Monte dei Paschi di Siena (BMPS.MI) unveiled a plan on Friday to prevent its centuries-old business from being wound up by regulators, a privately funded overhaul that Rome hopes will help stabilise the country’s entire banking sector. Italy’s third-largest bank, and the world’s oldest, announced the plan moments ... Read More »
The European Commission said on Friday that Italy’s Monte dei Paschi di Siena (BMPS.MI) plan for a privately funded capital increase was in line with EU rules. “The Commission takes note of the bank’s announcement that it plans to launch a private capital raising exercise,” a Commission spokesman said in ... Read More »
