Monte’s losses rise as bank denies bond rumours
Banca Monte dei Paschi di Siena said there were some “uncertainties” around its capital strengthening plans as it slumped to a €1.7bn annual loss on Wednesday. The Italian lender has recently denied rumours that it is working on an imminent sale of subordinated debt.
Monte dei Paschi published its full year results for 2020 on Wednesday morning.
Market participants were aware the bank would suffer heavy damage, but a net loss of €1.69bn was slightly higher than what most analysts had predicted.A large part of the impact came from ...