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Italy's Monte Paschi posts net loss of 3.2 bn euros

March 28, 2013 14:16
Banca Monte dei Paschi di Siena, the world's oldest surviving bank and Italy's third biggest, on Thursday reported a net loss for 2012 of 3.17 billion euros ($4.06 billion). Of that sum, the ailing bank -- which has been caught up in a derivatives scandal -- registered a loss of 1.591 billion euros in the fourth semester alone, it said in a statement. The bank, which benefited from a 4 billion euro rescue loan from the Italian government earlier this year, said it took 2.67 billion euros writedowns in 2012 to cover bad debts.

URGENT ¥¥¥ World's oldest bank reports net loss of 3.2 bn euros in 2012

March 28, 2013 13:31
Banca Monte dei Paschi di Siena, the world's oldest surviving bank and Italy's third biggest, on Thursday reported a net loss for 2012 of 3.17 billion euros ($4.06 billion). Of that sum, the ailing bank -- which has been caught up in a derivatives scandal -- registered a loss of 1.591 billion euros in the fourth semester alone, it said in a statement. ahe/ide/arp

Italy police search Nomura's Milan offices in Monte Paschi probe-sources

March 27, 2013 05:45
MILAN/SIENA (Reuters) - Italy's tax police searched the Milan offices of Japanese bank Nomura <8604.T> on Wednesday as part of a judicial investigation into Italian lender Monte dei Paschi di Siena <BMPS.MI>, judicial sources said. One of the sources said the financial police were looking for emails and documents, without elaborating.

Monte Paschi's former finance chief returns to jail

March 17, 2013 05:15
FLORENCE, Italy (Reuters) - An Italian judge on Sunday ordered the former head of Monte dei Paschi's <BMPS.MI> finance department to return to jail a day after releasing him for a procedural error as part of an inquiry into alleged fraud and bribery at Italy's third-largest bank. Judicial sources with direct knowledge of the case said Baldassarri, who had been released on Saturday night, would be detained in Milan.

Deutsche Bank says Monte Paschi damages claim "without merit"

March 13, 2013 15:15
MILAN (Reuters) - Deutsche Bank <DBKGn.DE> said on Wednesday damage claims filed by Italy's Monte dei Paschi di Siena <BMPS.MI> over a derivative trade were "entirely without merit", vowing to defend itself vigorously. A judicial source told Reuters last week the world's oldest bank was seeking at least 500 million euros in damages from Deutsche Bank and two former Monte dei Paschi executives over a loss-making 2008 trade known as "Santorini".

UPDATE 3-Police investigate death of Monte Paschi spokesman

March 6, 2013 21:00
* Bank spokesman found dead late on Wednesday * Body found beneath open window of bank headquarters * Prosecutors said investigating possible suicide By Silvia Ognibene SIENA, Italy, March 7 (Reuters) - Prosecutors began investigating the apparent suicide of the spokesman of Monte Paschi di Siena, the Italian bank subject to a corruption probe, and a judicial source said an autopsy would be done to dispel any doubt about how he died.

Scandal-hit Italian bank executive commits suicide

March 6, 2013 19:30
The communications chief of Italy's scandal-hit Banca Monte dei Paschi di Siena (BMPS) killed himself Thursday by jumping out a window at the bank's headquarters, Italian media said. Investigators had searched David Rossi's home and office 10 days ago in connection with a probe into hundreds of millions of euros missing from the accounts of BMPS, the world's oldest bank. But no charges had been brought against him. Rossi leapt from a window of the 14th-century Rocca Salimbeni palazzo in Siena, where the bank is headquartered, reports said.

UPDATE 1-Italian prosecutors open new Monte Paschi investigation

March 5, 2013 10:30
* Probe triggered by leaks to the press after board meeting * More funds seized from former finance chief and others (Adds police confirmation, more funds seized) SIENA, Italy, March 5 (Reuters) - Italian financial police have searched premises connected with Monte dei Paschi di Siena bank as part of a new investigation into suspected insider trading, police said on Tuesday.

UPDATE 2-Monte Paschi former finance chief held in Italy

February 14, 2013 07:01
By Silvia Ognibene Manuela D'Alessandro SIENA/MILAN, Feb 14 (Reuters) - Italian police arrested on Thursday the former head of Monte dei Paschi's finance department, who is at the centre of a probe into alleged fraud and bribery at Italy's third largest bank, prosecutors said. Gianluca Baldassarri is the first person to be arrested in a widening scandal that has rocked the world's oldest bank and triggered a financial and political storm ahead of Feb 24-25 national elections.

UPDATE 2-Bank of Italy seeks more powers in wake of Monte Paschi troubles

February 9, 2013 07:30
* Italian central bank backs Draghi call for action * Decision on fines for former Monte Paschi management expected in March * Monte Paschi sees way clear for 3.9 billion euro state loan soon (Recasts to add quotes from Bank of Italy's head and director general, details) By Francesca Landini
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