MPS's Profumo says Nomura must pay for damages

Derivatives trade with Japanese bank cost Italian bank

(ANSA) - Milan, April 16 - Italian bank Monte dei Paschi di Siena (MPS) said Thursday that damages from a derivatives trade should be paid by the Japanese bank Nomura involved in the transaction.
    "If today there is anyone who needs to be concerned, it is Normura," said Alessandro Profumo.
    "Nomura must pay the damages" from the deal known as Alexandria.
    Former executives of MPS and Nomura bank entered into a contract in July 2009 involving the restructuring of a complicated financial derivative dubbed Alexandria.
    Investigations since then have focused on the role former bank executives may have played in hiding losses.
    MPS was named last year by the European Central Bank after a health check that showed a 2.1 billion euro capital gap which the Siena bank is now trying to fill.
   

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