Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Banca Monte dei Paschi di Siena SpA    BMPS   IT0001334587

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Banca Monte dei Paschi di Siena SpA : Monte Paschi CEO sees capital increase in 2014-report

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/26/2013 | 09:33am CEST

Italy's Banca Monte dei Paschi di Siena could hold its planned capital increase of 1 billion euros ($1.30 billion) in 2014, and does not rule out more asset sales, chief executive Fabrizio Viola said on Friday.

Viola told Il Sole-24 Ore he hoped the bailed-out bank's business plan, which calls for a capital increase, return to profitability and disposals, would help it avoid nationalization.

"We think that conditions will be right to hold the capital increase in 2014," Viola said in an interview, adding the offering would be aimed primarily at institutional investors.

Italy's No. 3 bank was forced to seek state aid for the second time since 2009 after becoming one of just four European lenders that failed to meet tougher capital requirements set by regulators.

Under a loan scheme the bank will issue around 4 billion euros of bonds to the Italian Treasury.

If the bank is unable to pay the coupon on the bonds it will have to issue shares. Some analysts have said the bank will not be able to pay the loans any time soon, raising the prospect the state will not just be a minority shareholder.

Viola said he was working as hard as he could to avoid the state becoming a majority shareholder.

"One thing is having the state as minority shareholder another is imagining the majority becomes public: this latter is certainly a possible scenario but the bank is committed to avoid it," he said.

The world's oldest bank was rocked this year by a series of risky derivatives trades which were partly behind huge losses forcing it to take a state bailout.

He said the bank's new business plan would be ready to submit to Brussels for a review "not later than June." The new plan will take Italy's worsening economy into account, he said.

The bank is making progress on its cost-cutting plan, and should reach two-thirds of its 2015 target by the end of this year, he said.

(Reporting By Stephen Jewkes; Editing by Helen Massy-Beresford)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BANCA MONTE DEI PASCHI DI
06/21 EXCLUSIVE - ITALY POLICE SEIZE BANK : sources
06/21 BANCA MONTE DEI PASCHI DI SIENA : ++ State entry into MPS 'v.likely in July' - F..
06/21 BANCA MONTE DEI PASCHI DI SIENA : State entry into MPS 'v.likely in July' - Falc..
06/19 BANCA MONTE DEI PASCHI DI SIENA : MPS board to OK restructuring plan end June
06/16 Greek deal helps European shares rebound, but retailers continue slide
06/16 EXCLUSIVE - FORTRESS, ELLIOTT QUIT T : sources
06/14 BANCA MONTE DEI PASCHI DI SIENA : Germany, Italy push for changes to Europe's ru..
06/09 BANCA CARIGE : board approves no-confidence motion in CEO
06/08 BANCA MONTE DEI PASCHI DI SIENA : Beautiful Italian Bank Begins Second 545 Years..
06/07 Exclusive - EU in stronger position to tackle Italy after Spain bank rescue
More news
Sector news : Banks - NEC
06:00p INTESA SANPAOLO : board tasks CEO with completing purchase of Veneto banks' asse..
05:57p INTESA SANPAOLO : Italy to appoint special administrators for Veneto lenders
01:15pDJBANCO SANTANDER : Bankers Have Less to Fear from 'Stress Tests'
06/24 BARCLAYS AFRICA : South Africa anti-graft chief open to talks on central bank - ..
06/23 INTESA SANPAOLO : Italy to pass emergency decree on Veneto banks after EU green ..
More sector news : Banks - NEC
Advertisement
Financials (€)
Sales 2017 4 033 M
EBIT 2017 1 499 M
Net income 2017 -139 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 1,97
Capi. / Sales 2017 0,11x
Capi. / Sales 2018 0,11x
Capitalization 442 M
More Financials
Technical analysis trends BANCA MONTE DEI P...
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus 
Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 18,8 €
Spread / Average Target 24%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Marco Morelli Chief Executive Officer, Director & GM
Alessandro Falciai Chairman
Enrico Grazzini Co-Chief Operating Officer
Maurizio Pescarini Co-Chief Operating Officer
Francesco Renato Mele Chief Financial Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BANCA MONTE DEI PASCHI..494
JP MORGAN CHASE & COMP..0.66%308 597
WELLS FARGO-4.83%262 109
INDUSTRIAL AND COMMRCL..16.55%260 628
BANK OF AMERICA3.26%227 102
CHINA CONSTRUCTION BAN..16.18%212 644
More Results