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BANCA MONTE DEI PASCHI DI SIENA S.P.A.

(BMPS)
  Report
Delayed Borsa Italiana  -  11:40:00 2023-02-03 am EST
2.490 EUR   +2.83%
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Banca Monte dei Paschi di Siena S p A : FITCH RATINGS IMPROVES THE BANK'S RATINGS WITH STABLE OUTLOOK

11/24/2022 | 02:14pm EST

PRESS RELEASE

FITCH RATINGS IMPROVES THE BANK'S RATINGS WITH STABLE OUTLOOK

Siena, 24 November 2022 - Banca Monte Paschi di Siena ("MPS" or "the Bank") announces that Fitch Ratings has improved the Bank's ratings, upgrading the Long-Term Issuer Default Rating ("IDR") to "B+" from "B" and the Viability Rating ("VR") to "b+" from "b". The outlook has improved to "stable" from "evolving".

The upgrade reflects the Bank's strengthened capitalisation following a EUR 2.5 billion capital injection completed in November 2022 which restored adequate capital buffers over regulatory requirements and gives the Bank the necessary resources to complete its restructuring plan, including crucial cost cuts and investments.

The upgrade also considers a reduced stock of impaired loans and lower capital encumbrance by their unreserved portion since MPS completed its asset-qualityclean-up.

Fitch Ratings expects the cost reductions in combination with rising interest rates to lead to higher and more sustainable profitability levels and more than offset the impact from the expected deterioration in the operating environment in Italy in 2023.

Below the main Bank's ratings from Fitch Ratings:

Rating

From:

To:

Viability rating (rating standalone)

b

b+

Long-term deposit rating

B+

BB-

Long-term senior preferred debt

B

B+

Long-term senior non-preferred debt

B-

B

Long-term subordinated debt

CCC+

B-

The full version of Fitch ratings' press release can be viewed on the website www.fitchratings.com.

This press release shall be available on www.gruppomps.it

For further information:

Media Relations

Investor Relations

Tel: +39 0577 296634

Tel: +39 0577 299350

ufficio.stampa@mps.it

investor.relations@mps.it

Disclaimer

Banca Monte dei Paschi di Siena S.p.A. published this content on 24 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2022 19:13:07 UTC.


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Analyst Recommendations on BANCA MONTE DEI PASCHI DI SIENA S.P.A.
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Financials
Sales 2022 3 009 M 3 265 M 3 265 M
Net income 2022 -286 M -310 M -310 M
Net Debt 2022 - - -
P/E ratio 2022 -9,73x
Yield 2022 -
Capitalization 3 136 M 3 403 M 3 403 M
Capi. / Sales 2022 1,04x
Capi. / Sales 2023 1,05x
Nbr of Employees 21 015
Free-Float 27,8%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 2,49 €
Average target price 1,94 €
Spread / Average Target -22,2%
EPS Revisions
Managers and Directors
Luigi Lovaglio CEO, Director & General Manager
Andrea Francesco Maffezzoni Chief Financial Officer
Vittorio Calvanico Chief Operating Officer
Ettore Carneade Head-Controls, Compliance & Claims Area
Marco Giorgino Lead Independent Director