Italy's economy ministry has
acquired a 4% stake in Monte dei Paschi di Siena (MPS) after the
troubled lender said Wednesday that it had paid back interest
due on part of a State bailout via shares.
In June the bank paid back the last tranche of four billion
euros of state aid granted in 2013 to stop it going to the wall.
Last year MPS, the world's oldest bank still doing
business, was the institute to perform worse in the European
Central Bank's stress tests, with a capital shortfall of 2.1
billion euros, after being hit by the eurozone crisis and a
derivatives scandal.
In June the bank sold 3 billion euros' worth of shares and
it is restructuring to return to financial health, closing
branches, axing jobs and selling off assets.
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