Report
Banca Monte dei Paschi : A road strewn with obstacles
The green light given by shareholders last Sunday to the Hydra operation gives us confidence in the success of this de-risking, which will allow BMPS to offload € 8bn of the € 11bn of non-performing loans left on its balance sheet. What comes next? A ratings recovery will depend on a recovery in profitability and solvency. On a standalone basis, we think this is bound to be a long a gradual process, as the current crisis is accentuating BMPS' intrinsic difficulties. The only way ...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Carine Maciol
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