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

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Delayed Borsa Italiana  -  11:35 2022-07-05 am EDT
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Italy's Monte dei Paschi plans 2.5 billion euro cash call to fund new strategic plan

06/23/2022 | 01:24am EDT
FILE PHOTO: People are seen inside a Monte dei Paschi di Siena bank in Rome

MILAN (Reuters) - Italian state-owned bank Monte dei Paschi di Siena on Thursday said it would raise 2.5 billion euros ($2.6 billion) in capital to fund a new strategic plan aimed at cutting costs and improving profitability.

Monte dei Paschi said it would reduce costs to 60% of its income in 2024 from 71% last year including by laying off around 4,000 staff with a one-off cost of 800 million euros.

($1 = 0.9464 euros)

(Reporting by Valentina Za, editing by Giulia Segreti)


© Reuters 2022
All news about BANCA MONTE DEI PASCHI DI SIENA S.P.A.
06/23Decline and near fall of Italy's Monte dei Paschi, the world's oldest bank
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Financials
Sales 2022 2 962 M 3 089 M 3 089 M
Net income 2022 -583 M -608 M -608 M
Net Debt 2022 - - -
P/E ratio 2022 -1,45x
Yield 2022 -
Capitalization 508 M 529 M 529 M
Capi. / Sales 2022 0,17x
Capi. / Sales 2023 0,17x
Nbr of Employees 21 183
Free-Float 32,8%
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 0,51 €
Average target price 0,53 €
Spread / Average Target 3,98%
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Managers and Directors
Luigi Lovaglio CEO, Director & General Manager
Andrea Francesco Maffezzoni Chief Financial Officer
Maria Patrizia Grieco Chairman
Vittorio Calvanico Chief Operating Officer
Ettore Carneade Head-Controls, Compliance & Claims Area