Banca Monte dei Paschi : A rescue plan by the Italian state: what is the state of play?
Tuesday 07 February 2017 - / - / - Publication of the restructuring plan: end of February? - - - - - On 22 December 2016 Banca Monte dei Paschi announced the collapse of its € 5bn recapitalisation plan, rendering void the debt-for-equity swap launched earlier in the month. The next day, the bank requested a precautionary recapitalisation from the Italian state. - The Italian government backed a decree setting the framework for a € 20bn bailout for struggling banks. - > - Since then, statements by various Italian and European officials have attracted increasing press coverage, but no public official announcement has been made to date. - So, what is the state of play in this bank rescue? - We shall review the situation using the information at hand.Banca Monte dei Paschi di Siena Group is engaged in business areas such as leasing, factoring, corporate finance, investment banking and consumer credit. Co.'s Operating Segments are as follow: the Retail & Corporate division, made up by the Retail Banking and Corporate Banking segments, and the Corporate Centre. The Retail banking segment's areas of business include funding, lending, the provision of insurance products, financial and non-financial services (including through electronic payment instruments) to retail customers. The corporate banking segment's areas of business include lending and providing financial products and services to businesses.
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.
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