In a statement, Monte dei Paschi said its 2017-2021 plan sees a return on equity of more than 10% in 2021. Italy's Monte dei Paschi di Siena said it expected to report a net profit of more than €1.2 billion in 2021 as part of its restructuring plan approved by the European Commission. At the same time Monte dei Paschi has earmarked €1.5 billion to compensate retail junior bondholders who are the victims of mis-selling, it added. Burdened by bad loans and a mismanagement scandal, Monte dei Paschi has been at the forefront of Italy's slow-moving banking crisis. "I am confident state money will be recouped, perhaps at a premium," finance minister Pier Carlo Padoan said yesterday, referring to Monte dei Paschi.
as informed in
Morelli said 5.5 billion euros in deposits were recovered in the first quarter, adding "liquidity is not an issue any more." Last year it reported a net loss of 3.24 billion euros. MILAN (Reuters) - Italian bank Monte dei Paschi di Siena set out plans to get out of the "emergency room" and return to profit, clearing the way for a state bailout that should remove the biggest threat to the country's financial stability. Burdened by bad loans and a mismanagement scandal, Monte dei Paschi has been for years at the forefront of Italy's slow-brewing banking crisis. The world's oldest bank said on Wednesday it expected to post a net profit of more than 1.2 billion euros ($1.4 billion) in 2021 as part of a restructuring plan approved by European authorities.
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as informed in
Morelli said 5.5 billion euros in deposits were recovered in the first quarter, adding "liquidity is not an issue any more." Last year it reported a net loss of 3.24 billion euros. MILAN (Reuters) - Italian bank Monte dei Paschi di Siena set out plans to get out of the "emergency room" and return to profit, clearing the way for a state bailout that should remove the biggest threat to the country's financial stability. Burdened by bad loans and a mismanagement scandal, Monte dei Paschi has been for years at the forefront of Italy's slow-brewing banking crisis. The world's oldest bank said on Wednesday it expected to post a net profit of more than 1.2 billion euros ($1.4 billion) in 2021 as part of a restructuring plan approved by European authorities.
read more visit us profit
collected by :Jack Luxor
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