Banca Monte dei Paschi di Siena S.p.A.·Financial Services

Italian businessman Francesco Gaetano Caltagirone said on Thursday that merging Banca Monte dei Paschi di Siena (MPS) and Banco BPM could weaken the historic Tuscan bank and pose a risk for Italian savings.

Banca Monte dei Paschi di Siena's (MPS) second-largest shareholder, Francesco Gaetano Caltagirone, said on Thursday that the Italian lender should not sell its stake in Italy's top insurer Generali.

The bank's net profit was €520.8 million compared with €413.1 million in the year-earlier period, before the Mediobanca acquisition.

Italy's third-largest bank Monte dei Paschi di Siena on Tuesday posted better than expected first quarter profits on rising revenues, confirming industry trends as it closed the reporting season for the sector.

The newly appointed board has officially reinstated Luigi Lovaglio's powers as chief and general manager following weeks of governance turmoil at the bank.

Newly appointed directors at Monte dei Paschi di Siena were set on Thursday to hand all key board positions to supporters of reinstated Chief Executive Luigi Lovaglio, a person close to the matter said.
Banca Monte dei Paschi di Siena S.p.A. provides retail and commercial banking services primarily in Italy. The company operates through Retail Banking, Corporate Banking, and Wealth Management segments. It offers funding and lending services, insurance products, financial advisory, and electronic payment services; financial and non-financial services; wealth management and financial planning services; consultancy services, such as tax planning, real estate, art, and legal advisory; fiduciary and trust services; and digital banking services. The company also provides leasing and factoring services for businesses, artisans, and professionals; and medium-and long-term credit facilities, corporate finance, capital markets, and structured finance services. In addition, it offers investment banking products and services; foreign banking services; and custody and deposit services for dairy products on behalf of third parties. Further, the company develops and manages ICT and telecommunication systems. As of December 31, 2021, it operated a network of 1,368 branches, 126 specialized centers, and 2,621 ATM machines in Italy; 1 operational branch in Shanghai; and 8 representative offices in the areas of Europe, North Africa, India, and China. The company was founded in 1472 and is headquartered in Siena, Italy.
Financial Services
Banks - Regional
16,678
2012-02-22
0.95