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MPS posts 1.43 bn euros in losses in 2013

Net decline for fourth quarter 920 mn

12 March, 11:38
MPS posts 1.43 bn euros in losses in 2013 (ANSA) - Milan, March 12 - Troubled Italian lender Banca Monte dei Paschi di Siena (MPS), Italy's third-largest bank by assets, posted a higher than anticipated loss at 1.43 billion euros in 2013 over heavy writedowns on bad loans, MPS said Wednesday.

Analysts had estimated an average 850-million-euro loss.

The bank also said its net loss for the fourth quarter of 2013 totalled 920 million, its seventh consecutive quarterly loss.

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