Connect to share and comment

Italian lender backs 5 bn-euro share sale

Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year. The bank said in a statement the share sale would give it a strong enough "capital buffer" to withstand EU bank stress tests in the current climate of "high uncertainty and limited visibility". The increase will also allow the lender to speed up a restructuring plan, due to be completed by 2017, that includes 8,000 job cuts and the closure of 550 branches.

Italian lender backs 5 bn-euro capital increase

Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year. The bank said in a statement the share sale would give it a strong enough "capital buffer" to withstand EU bank stress tests in the current climate of "high uncertainty and limited visibility". The increase will also allow the lender to speed up a restructuring plan, due to be completed by 2017, that includes 8,000 job cuts and the closure of 550 branches.

Italian lender backs 5 bn-euro share sale

Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year. The bank said in a statement the share sale would give it a strong enough "capital buffer" to withstand EU bank stress tests in the current climate of "high uncertainty and limited visibility". The increase will also allow the lender to speed up a restructuring plan, due to be completed by 2017, that includes 8,000 job cuts and the closure of 550 branches.

Monte Paschi approves increasing size of capital increase to 5 billion euros

MILAN (Reuters) - The board of Italy's Monte dei Paschi di Siena <BMPS.MI> approved increasing the size of a planned capital increase to 5 billion euros ($6.9 billion) from 3 billion euros to absorb any potential loss stemming from a European health check of lenders. In a statement on Friday, the bank said the higher capital increase may also allow it to repay early 4.1 billion euros of state aid it received last year.

Italy's Monte dei Paschi considers bigger cash call

By Lisa Jucca and Stefano Bernabei MILAN/ROME (Reuters) - Italy's loss-making Banca Monte dei Paschi di Siena <BMPS.MI> is considering increasing the size of its planned share sale to help it pass a Europe-wide bank health check and repay state aid this year. Italian banks, struggling under a mountain of bad debt after two years of deep recession, are aiming to boost their capital bases to cover loan losses and meet a tough assessment of asset quality being carried out by the European Central Bank.

Italy's Monte dei Paschi considers bigger cash call

By Lisa Jucca and Stefano Bernabei MILAN/ROME (Reuters) - Italy's Banca Monte dei Paschi di Siena <BMPS.MI> 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.

BoE's Bailey says allowances to bankers 'least worst alternative'

LONDON (Reuters) - Allowances being paid by Britain's banks to soften the blow of a cap on bonuses is the "least worst alternative", Bank of England Deputy Governor Andrew Bailey said on Tuesday. Some lenders are planning to pay monthly or quarterly "allowances" on top of a banker's fixed pay as the European Union caps bonuses to no more than twice fixed salary, with shareholder approval.

Portion of household deposits tops 50 pct

SEOUL, April 1 (Yonhap) -- The weight of deposits held by households in local banks' total deposits surpassed 50 percent for the first time in about six years in January, data showed Tuesday, a sign that people not feeling economic recovery were choosing to save rather than invest or spend. The portion of household deposits accounted for 50.3 percent of local banks' total deposits with 1,008.9 trillion won (US$950 billion), according to the Bank of Korea (BOK). It marked the first time since October 2007 when the weight of household deposits hit 50.6 percent.

BoC to use anecdotal evidence, people conversations in economic forecasts: Poloz

OTTAWA - The Bank of Canada is rethinking how it analyzing the economy, in part by putting less faith in computer models and more on anecdotal information and conversations with Canadians. In a message from governor Stephen Poloz, the central bank said its confidence in its models was shaken somewhat last year by the economy's underperformance and its inability to foresee events. The message was contained in the bank's annual report, released Friday.

Iceland bank suffers setback in taking over homes for loan repayment

A unit of Iceland's Landsbanki has lost an appeal against French authorities which seized the debts of the clients who lost money in a scheme that had them mortgage their homes to bet on the stock market, sources said Thursday. France has been engaged in a legal tussle over the attempts by the Luxembourg branch of Landsbanki to take over homes used as guarantees for the loans to clients, some of whom were French, including singer Enrico Macias.
Syndicate content