Monte Paschi says derivatives loss totals 730 million euros
SIENA, Italy (Reuters) - Italy's third biggest lender, Banca Monte dei Paschi di Siena, said on Wednesday that losses stemming from three 2006-09 derivatives trades stood at 730.3 million euros, before taking into account any possible fiscal impact.
After a board meeting which lasted more than 6 hours, the bank said there had been errors in the accounting of the three trades in previous financial statements.
It said those mistakes would be corrected in the 2012 accounts.
(Reporting By Silvia Aloisi and Stefano Bernabei)
- Tweet this
- Share this
- Digg this
- Sweden says credible reports of foreign submarine in its waters
- Hong Kong crisis deepens after weekend clashes, talks set for Tuesday |
- Lufthansa cancels flights due to pilots strike; train stoppage strands millions |
- Comet makes rare close pass by Mars as spacecraft watch
- Germany plans tougher controls on would-be jihadists