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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 top investor to sue former executives, banks

SIENA, Italy (Reuters) - The top investor in Italian bank Monte dei Paschi di Siena has decided to sue former members of its own board and banks that helped arrange a 600 million euros loan in 2011, it said in a statement. The cash-strapped banking foundation, whose wealth has been wiped out by a sharp fall in the value of Monte dei Paschi shares in the past two years, ran up big debts to take part in two capital increases at the bank in 2008 and 2011.

Police probe fraud scandal targeting Italian MPS bank

Italy's financial police searched premises in several cities Wednesday as part of a probe into an association accused of defrauding Banca Monte dei Paschi di Siena, media reports said. Searches were carried out in Milan, Monza and Siena, including at the headquarters of Centrosim, a financial intermediary society headed by the central institute of Italian popular banks. Police are looking for documents which may help trace transactions between the world's oldest bank and broker company Enigma, sent through Centrosim.

Monte Paschi Chairman, CEO stay on despite cash call delay-source

SIENA, Italy (Reuters) - The chairman and the chief executive of Italy's Monte dei Paschi di Siena <BMPS.MI> will remain in their jobs despite being forced to delay a capital increase by the bank's top investor, a source with direct knowledge of the matter said on Tuesday. "Yes," the source said when asked if Chairman Alessandro Profumo and CEO Fabrizio Viola would stay on after a board meeting discussed their fate on Tuesday.

Monte Paschi's top investor hopes bank's execs will stay on: paper

MILAN (Reuters) - The head of the main investor in Italy's Monte dei Paschi di Siena <BMPS.MI> told an Italian daily on Monday she hoped the bank's top executives would stay on despite a shareholder vote that sank their plan to launch a cash call next month. Shareholders led by the biggest investor in the bailed-out bank have rejected plans for a 3 billion euro ($4 billion) share sale in January and postponed the capital raising until after May 12.

Monte Paschi reconvenes shareholder meeting on Saturday

SIENA, Italy (Reuters) - Italian lender Banca Monte dei Paschi di Siena <BMPS.MI> was forced to push back to Saturday a shareholder meeting set to decide on a vital capital increase because not enough investors showed up on Friday. Chairman Alessandro Profumo said 49.3 percent of shareholders turned up to attend the meeting on Friday, below the 50 percent plus one quorum needed for it to go ahead.

Monte Paschi shareholder denies stake sale report

MILAN (Reuters) - The top shareholder in Italian bank Monte dei Paschi di Siena <BMPS.MI> denied a report in daily La Repubblica about a possible sale of a 20 percent stake in the lender and said its meeting on Monday would not discuss the issue. According to La Repubblica, the indebted banking foundation that owns 33.5 percent of Monte dei Paschi was close to selling a 20 percent stake to three other foundations and a group of investment funds. (Reporting by Lisa Jucca; Editing by Francesca Landini)

Monte Paschi chairman warns against delaying capital hike

ROME (Reuters) - A delay in a 3 billion euro ($4.12 billion) capital increase for troubled Italian lender Monte dei Paschi di Siena <BMPS.MI> past January would cause great uncertainty and could force the bank to be nationalized, its chairman said on Tuesday. "Today, we are not sure if we can do it," Alessandro Profumo told reporters, adding if that if the capital hike does not go through, "we enter a zone of great uncertainty". "It could be that if we are unable to do it, the bank would then be nationalized," he said.

Top Monte Paschi shareholder says to vote for capital hike delay

ROME (Reuters) - The top investor in troubled Italian bank Monte dei Paschi di Siena said on Friday it would only vote in favour of the lender's planned January capital increase if it is postponed to the second quarter of next year. The board of Monte dei Paschi foundation, which holds 33.5 percent of the bank, said it backed the 3 billion euro ($4.11 billion)rights issue proposal, which will be voted on at a shareholders' meeting at the end of December, but it needed to be delayed.

Monte Paschi's top shareholder would not welcome January capital hike

SIENA, Italy (Reuters) - The banking foundation that is the biggest shareholder of Italy's loss-making bank Monte dei Paschi di Siena <BMPS.MI> said on Tuesday carrying out a planned capital increase in January would not be a welcome move. Earlier this month, Monte Paschi Chief Executive Fabrizio Viola told analysts there were three possible windows for the capital hike to be launched - January 2014, June or the end of the year. "It's clear that the more time goes by, the more difficult it gets," Viola said.
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