Banca Monte dei Paschi di Siena SpA

Italy's Monte dei Paschi has called an extraordinary board meeting on Oct. 29 to discuss hiking provisions against legal risks after a court convicted two former top executives in a false accounting case, two sources close to the matter said.

Italian Prime Minister Giuseppe Conte is expected to sign in the next few days long-awaited measures paving the way for a crucial bad loan clean-up at Monte dei Paschi (MPS) and the sale of the bank, two government sources said.

Italian Prime Minister Giuseppe Conte is expected to sign in the next few days long-awaited measures paving the way for a crucial bad loan clean-up at Monte dei Paschi (MPS) <BMPS.MI> and the sale of the bank, two government sources said.

The appointment of former Economy Minister Pier Carlo Padoan as chairman designate of UniCredit would make it inappropriate for the Italian bank to buy state-owned Monte dei Paschi (MPS), lawmakers from Italy's co-ruling 5-Star Movement said.

A sale of Banca Monte dei Paschi to UniCredit would be inappropriate after UniCredit announced it would appoint former Economy Minister Pier Carlo Padoan as chairman, lawmakers from Italy's ruling 5-Star Movement said.

The management of Italy's Banca Monte dei Paschi di Siena <BMPS.MI> is not involved in any talks on if and when the Treasury may sell its stake in the lender, the bank's Chief Executive Guido Bastianini said on Tuesday.

Italy is close to approving plans to sell its stake in Monte dei Paschi di Siena <BMPS.MI> and to cover most of the troubled Tuscan bank's capital needs of around 1 billion euros ($1.2 billion), a government source said.

Italian state-owned bank Monte Dei Paschi di Siena <BMPS.MI> said on Thursday it had received a conditional green light from the European Central Bank for its bad loan clean-up plan.

Monte dei Paschi di Siena said it expects to remain loss-making through 2022 as the COVID-19 crisis has further derailed its restructuring plan.

Italian state-owned bank Monte dei Paschi di Siena expects to remain loss-making through 2022 after the COVID-19 crisis further derailed its restructuring plan, it said in its fist-half financial statement.

Italy will meet its commitment to sell its controlling stake in Monte dei Paschi di Siena <BMPS.MI> by the end of 2021, Economy Minister Roberto Gualtieri said on Wednesday.

Italy's Banca Monte dei Paschi di Siena <BMPS.MI> approved a plan on Monday to offload more than 8 billion euros ($9 billion)in gross bad loans in a move that could pave the way for a possible re-privatisation of the lender.

The board of Monte dei Paschi di Siena <BMPS.MI> is expected to meet on Monday to approve a plan to reduce its burden of bad loans, a source familiar with the matter said, without giving further details.

Banca Monte dei Paschi di Siena has received a preliminary green light from the European Union's competition authorities for its bad debt disposal plan, a source close to the matter said on Friday.

Italy must present the European Commission with a plan for its exit from lender Monte dei Paschi <BMPS.MI> by 2019, Chief Executive Marco Morelli told daily Corriere della Sera.

Banca Monte dei Paschi di Siena <BMPS.MI> has completed the securitization for the sale of a bad loan portfolio with a gross book value of around 24.1 billion euros ($28.7 billion), obtaining investment-grade ratings on the senior tranche.

Italian bank Monte dei Paschi di Siena <BMPS.MI> is slowly turning a corner after last year's 8 billion euro ($10 billion) bailout, its chief executive said, flagging an increase in both lending and client funding.

(This March 29 story refiles to correct figure to 19 percent in paragraph 20.)

UBI Banca <UBI.MI> is studying potential merger options as the sector consolidates, but its chairman said he would quit rather than agree to a linkup with Monte dei Paschi di Siena <BMPS.MI>.