Italian lender Monte dei Paschi di
Siena (MPS) on Friday said that it is back in the black,
reporting a first-quarter net profit of 188 million euros from
the 169 million loss posted in the first trimester of 2017.
Commercial investments since the end of December 2017 rose by
900 million euros thanks to a 20% hike in new loans.
The bank, which announced this week that it had completed a
24 billion euro bad-loan sale, reported that it had started a
procedure to offload this year an additional 4.5 billion euros
in impaired debts.
MPS is the world's oldest lender and was bailed out by the
government last year.
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