Monte dei Paschi di Siena (MPS),
Italy's fourth-largest bank, on Thursday posted first-quarter
profits of 119 million euros compared to a 239 million euro loss
in the same quarter last year.
The Tuscan lender said its capital position was more solid than
that estimated in its capital plan, "with an excess capital, at
the Tier 1 level, of more than 0.7 billion euros with respect to
a shortfall of 0.3 billion predicted in the plan".
The net operating result of 203 million euros, 26 more than the
last quarter of last year, "is the highest quarterly result in
the last three years", it said.
The world's oldest bank, founded as a pawnbroker in 1472, MPS
has been troubled in recent years and has had two government
bailouts, one in 2013 and another in 2017.
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