MILAN, June 27 (Reuters) – Italy’s Banca Monte dei Paschi di
Siena said on Friday it had raised 4.99 billion euros
($6.81 billion) through the sale of new shares, boosting its
capital base and increasing the chances it could pass an EU
review of bank assets.
Monte dei Paschi, Italy’s No.3 bank by branches, is one of
15 Italian lenders targeted in a health check of euro zone
lenders by the European Central Bank before it takes over
supervision of the sector in November.
MILAN/ROME, June 6 (Reuters) – Bailed-out Italian bank Monte
dei Paschi di Siena has warned its 5 billion euro
($6.9 billion euros) share issue may not be enough to bolster
its balance sheet if EU regulators force it to set aside more
cash to cover for bad loans.
In a 515-page prospectus for the cash call, due to start on
Monday, Italy’s third-largest bank said it could need further
capital-strengthening measures after the European Central Bank
(ECB) and the European Banking Authority (EBA) complete their
review of lenders across the euro zone.
SIENA (Reuters) – Shareholders in Italy’s Monte dei Paschi di Siena approved a proposal to boost the size of an upcoming share sale to 5 billion euros ($6.9 billion) to help it absorb a hit on its finances it expects from a Europe-wide bank health check.
At an extraordinary meeting in the bank’s hometown of Siena, shareholders overwhelmingly agreed to raise the capital increase, initially planned at 3 billion euros, by two billion euros. The new amount is twice the bank’s current market value.
MILAN/ROME (Reuters) – Italy’s Banca Monte dei Paschi di Siena (BMPS.MI: Quote, Profile, Research, Stock Buzz) is considering increasing the size of its planned share sale to help it pass a euro-zone wide bank health check and repay state aid this year.
Late on Monday, Italian news agency ANSA said Italy’s third-largest lender was looking to tap investors for up to 5 billion euros ($6.9 billion), more than the 3 billion planned.
ROME (Reuters) – Italian Prime Minister Matteo Renzi said on Tuesday he had found ways to fund a pledged 7 billion euro tax cut this year, moving to reassure sceptics and European officials that Italy does not plan to upend its public finances to fuel economic growth.
Speaking to reporters before a cabinet meeting to lay out his new government’s economic goals, Renzi shrugged off scepticism from opponents that a set of tax cuts were an electioneering gambit ahead of next month’s European elections.
ROME/MILAN, March 19 (Reuters) – In just six months,
Antonella Mansi has cut the umbilical cord that for 500 years
united Monte dei Paschi di Siena to its medieval home
Mansi, a 39-year-old chemicals company executive, took the
helm of the Monte dei Paschi foundation – a powerful and
politically-connected charity that was long the bank’s
controlling shareholder – last year.
MILAN/ROME, March 19 (Reuters) – Banca Monte dei Paschi di
Siena is becoming a potential takeover target after
its biggest shareholder halved its controlling stake in Italy’s
The cash-strapped Monte dei Paschi foundation has sold 15
percent of the bank, likely to more than one buyer, and will cut
its holding further in a 3 billion euro ($4.2 billion) cash call
needed to avert nationalisation.
MILAN, March 4 (Reuters) – Euro zone banks could be forced
to disclose any major balance sheet gaps discovered in a health
check on the industry before the results are made public in
October, the head of the European banking watchdog said on
Andrea Enria, chairman of the European Banking Authority
(EBA) which will help the European Central Bank scrutinise 128
banks, dismissed concerns the findings of the review might be
leaked ahead of their official release.
ROME (Reuters) – Italian centre-left leader Matteo Renzi is close to naming the members of his government, with OECD Chief Economist Pier Carlo Padoan set to take the key economy ministry portfolio, sources close to the negotiations said on Friday.
Renzi is expected to meet President Giorgio Napolitano at 4 p.m. (1500 GMT) on Friday to confirm his cabinet list, allowing the government to be sworn in by the weekend, ahead of a confidence vote in parliament expected on Monday.
ROME (Reuters) – Italian center-left leader Matteo Renzi is close to naming the members of his government, with OECD Chief Economist Pier Carlo Padoan likely to be named to the economy ministry portfolio, three sources close to the negotiations said on Friday.
Renzi is expected to meet President Giorgio Napolitano at 4 p.m. (1000 ET) on Friday to confirm his cabinet list, allowing the government to be sworn in by the weekend, ahead of a confidence vote in parliament expected on Monday.