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Banca Monte dei Paschi di Siena (MPI0.BE)
- Reuters
Italy's Monte Dei Paschi shares slump as judge demands new probe
MILAN (Reuters) -Shares in the Italian bank Monte dei Paschi di Siena fell as much as 10% on Wednesday, after a judge asked Milan prosecutors to investigate alleged fraud in relation to the bank's rescue in 2017, according to a document seen by Reuters. Shares in the bailed-out Tuscan lender have more than doubled in price since the start of 2023, allowing the state to cut its stake to 26.7% through market placements that attracted investment funds. The document showed that prosecutors have six months to investigate whether false accounting in 2016 and 2017 was used to conceal the fact that "the bank was not solvent, which would have prevented the state bailout".
- Investing.com
Monte dei Paschi shares drop on reports of new probe into Italy bailout conditions
Investing.com -- Shares in Banca Monte dei Paschi di Siena (BIT:BMPS) slumped by more than 7% on Wednesday on media reports that a judge has asked prosecutors in Milan to investigate allegations of fraud surrounding the lender's 2017 rescue.
- Reuters
Italy's MPS profit tops forecast as recovery gathers pace
Italy's Banca Monte dei Paschi (MPS) beat first-quarter net profit forecasts on Tuesday, helped by higher revenue, and said it would update its medium-term targets next quarter as its recovery is running ahead of plan. The bank, which had to be bailed out by the Italian state in 2017 and secured a make-or-break capital increase in November 2022, will pay a dividend of 0.25 euro per share this month, its first since 2011 and two years earlier than anticipated. "We started (2024) with a very good pace," CEO Luigi Lovaglio said in a call conference after the results.
