Alessandro Profumo News
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Banca Monte dei Paschi di Siena SpA, the bailed-out Italian bank embroiled in a fraud probe, reported a smaller first-quarter loss than analysts estimated as revenue exceeded forecasts.
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Banca Monte dei Paschi di Siena, the bailed-out Italian bank embroiled in a fraud probe, will probably report a fourth straight quarterly loss as lending income falls.
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UniCredit SpA Chief Executive Officer Alessandro Profumo resigned, ending his 13-year tenure as head of Italy’s largest bank, after he clashed with shareholders over Libyan investments in the company.
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UniCredit SpA Chief Executive Officer Alessandro Profumo stepped down, ending his 13-year tenure as head of Italy’s largest bank, after clashing with shareholders over Libyan investments in the company.
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Banca Monte dei Paschi di Siena’s 4.07 billion-euro ($5.2 billion) state rescue won’t resolve the troubles of Italy’s third-largest bank, which is poised to report a second straight loss on soaring bad-loan provisions.
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The risk of the euro area breaking up is minimal even as a lack of political leadership to resolve the region’s debt crisis undermines the currency, says Alessandro Profumo , chief executive officer of UniCredit SpA, Italy’s biggest bank.
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Banca Monte dei Paschi di Siena SpA, Italy’s third-biggest bank, fell as much as 13 percent in Milan trading after posting a bigger-than-estimated quarterly loss on soaring bad-loan provisions.
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Banca Monte dei Paschi di Siena SpA, Italy’s third biggest bank, reported a third straight quarterly loss, missing analysts estimates, on soaring bad-loan provisions and lower income from lending.
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The Fondazione Monte dei Paschi di Siena has its headquarters in the baroque Palazzo Sansedoni overlooking the Italian city’s main square. It was there, one day in November, that Chairman Gabriello Mancini delivered the bad news: The foundation, which for 15 years had supported the districts that compete in the renowned Palio horse races, could no longer pay for the spectacle’s colorful medieval costumes.
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Nestled in the hills of Tuscany, Banca Monte dei Paschi di Siena SpA, the world’s oldest bank, once hosted shareholders with its own vintage Chianti and mounds of beef brisket.
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