Connect to share and comment

BlackRock cut stake in Monte Paschi to 3.23 percent

MILAN (Reuters) - U.S. investment fund BlackRock <BLK.N> has lowered its stake in Italian lender Banca Monte dei Paschi di Siena <BMPS.MI> to 3.23 pct from 5.75 percent, according to a filing published by market regulator Consob on Wednesday. The sale took place on April 15, Consob said. Shares in Monte Paschi lost 10 percent on April 15 after the bank said it was evaluating its capital needs, following a report it may increase the size of a planned rights issue to 5 billion from 3 billion euros.

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.

Crisis-hit Italian BMPS bank surprises with size of loss

Italian bank Banca Monte dei Paschi di Siena (BMPS), one of the oldest and most prestigious lenders in Europe, on Wednesday reported an unexpectedly big loss for 2013. The bank, founded in 1472, suffered a net loss of 1.439 billion euros ($1.99 billion) last year -- a blow for BMPS as it prepare to raise fresh capital to avoid nationalisation. The figure far exceeded a loss of about 900 million euros forecast by analysts surveyed by the Radiocor news agency. But it was an improvement on the net loss of 3.168 billion euros the crisis-hit bank suffered in 2012.

Monte Paschi's top shareholder trims stake to just below 30 percent

MILAN (Reuters) - The top investor in Italy's No.3 bank by asset, Monte dei Paschi di Siena <BMPS.MI>, has sold shares worth 40.6 million euros ($56.35 million) on the market, equivalent to 1.6 percent of the bank's market capitalization, regulatory filings showed. The sale took place in three tranches on March 6, 7 and 10, coming on the heels of a 20-percent market rally on March 5 that traders said had been triggered by speculation the investor, a cash-strapped charitable foundation, was selling down its bank holdings.

Monte Paschi shares suspended after rising 5.5 percent

MILAN (Reuters) - Shares in Italy's Banca Monte dei Paschi di Siena <BMPS.MI> were suspended from trading on Milan's bourse on Thursday after rising 5.5 percent to 0.232 euros ($0.32). Newspapers reported earlier on Thursday the top shareholder foundation had sold a stake in the troubled Italian bank. Traded volume was already nearly 68 percent of the daily average of the past 30 days at 0809 GMT. The Italian all-share index was up 0.73 percent.
Syndicate content