SIENA, Italy (Reuters) – An autopsy on the spokesman for scandal-hit Italian bank Monte Paschi di Siena showed injuries consistent with the theory he killed himself, a judicial source said on Friday.
David Rossi’s body was found on Wednesday lying beneath the open window of his third floor office in the bank’s headquarters, a restored 14th century fortress. An autopsy was carried out on Thursday at the request of his family.
MILAN, March 5 (Reuters) – Shares in Italy’s Banco Popolare
rose slightly on Tuesday as the market welcomed an
increase in loan loss provisions as a clean-up of its balance
Banco Popolare, Italy’s fourth-largest bank by number of
branches, warned late on Monday it expected a net loss for 2012
of around 330 million euros ($429 million) after it raised
provisions on non-performing loans in the fourth quarter to 650
MILAN, Feb 26 (Reuters) – Italian bonds and shares were set
to fall on Tuesday as a messy election result fuelled fears of a
hung parliament and an ungovernable country.
A huge protest vote on Monday by Italians enraged by
economic hardship and political corruption pushed the country
towards deadlock, with no coalition likely to be strong enough
to form a government.
MILAN/ROME, Feb 20 (Reuters) – Monte dei Paschi
could face an extra loss of up to 1.5 billion euros ($2 billion)
because of the way it accounted for derivatives trades,
according to a leading consumer group challenging the bank’s
The derivatives trades, carried out from 2008-09, are at the
centre of an investigation into alleged fraud and corruption at
the world’s oldest bank. The scandal has triggered a political
storm ahead of an election on Feb. 24-25 because of the lender’s
close ties to the centre-left Democratic party (PD).
MILAN/LONDON (Reuters) – Monte dei Paschi pumped up its bid for Antonveneta to trump a rival offer from France’s BNP Paribas, paving the way for an eventual state bailout of the world’s oldest bank and a political furor in Italy over its finances.
The new disclosure comes in a report by Italy’s financial police and is based on statements from an adviser to the seller, Spain’s Santander. Reviewed by Reuters, the document reveals for the first time why Monte dei Paschi may have offered such a high bid for its smaller Padua-based rival and why it did not conduct any due diligence before agreeing the deal.
MILAN/LONDON, Feb 13 (Reuters) – Monte dei Paschi
pumped up its bid for Antonveneta to trump a rival offer from
France’s BNP Paribas, paving the way for an eventual
state bailout of the world’s oldest bank and a political furor
in Italy over its finances.
The new disclosure comes in a report by Italy’s financial
police and is based on statements from an adviser to the seller,
Spain’s Santander. Reviewed by Reuters, the document
reveals for the first time why Monte dei Paschi may have offered
such a high bid for its smaller Padua-based rival and why it did
not conduct any due diligence before agreeing the deal.
SIENA, Italy, Feb 8 (Reuters) – Monte dei Paschi struck a
last-minute, secret deal with Bank of New York that allowed the
Italian bank to mislead authorities and smoothed through its
acquisition of rival Antonveneta, according to a report by the
financial police in Italy.
A deepening fraud and bribery scandal at the country’s third
largest bank has caused a political outcry ahead of a
parliamentary election on Feb. 24-25, with the Bank of Italy
under fire over suspected financial irregularities at the Tuscan
SIENA, Italy (Reuters) – Italy’s Monte dei Paschi (BMPS.MI: Quote, Profile, Research, Stock Buzz) said there were no more derivatives losses beyond the 730 million euros ($988 million) it has disclosed, which have rattled financial markets and become a campaign issue ahead of parliamentary elections.
The derivative trades are at the heart of a fraud probe into former management of the world’s oldest bank, raising doubts about the effectiveness of banking supervisors, including European Central Bank chief Mario Draghi, who was Bank of Italy governor from 2006 to 2011, and the role of politicians, who agreed a state bailout for the lender.
SIENA, Italy (Reuters) – Monte dei Paschi di Siena, Italy’s third biggest lender, said on Wednesday losses linked to three problematic derivative trades totalled 730 million euros ($988.3 million) as it sought to draw a line under a scandal over risky financial transactions.
After a six-hour board meeting, the bank said in a statement that the losses, stemming from trades made between 2006-09, would weigh on its net assets in 2012 and were calculated before any possible fiscal effect.
SIENA, Italy (Reuters) – Board members at Monte dei Paschi <BMPS.MI > are expected to say on Wednesday that Italy’s third largest bank may have lost up to 1 billion euros on opaque derivatives trades, far higher than the initial estimate.
The trades are at the centre of a probe into former management of the bank which has deepened questions about the role of banking supervisors and the influence of local politicians ahead of Feb 24-25 parliamentary elections.