Banca Monte dei Paschi di Siena shares, BMPS share prices on the Stock Exchange

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ISIN code: IT0005218752
Sector: Finance
Industry: Local banks

Le actions di Monte dei Paschi di Siena are listed on the Milan Stock Exchange with the ticker BMPS.

Look at the history of the share price on the Stock Exchange

Company Description

Banca Monte dei Paschi di Siena SpA (MPS) is an Italian banking group. It was born in 1472 as Monte di Pietà; it is the oldest and longest-operating bank in the world. It is among the main Italian banking groups, fourth group after Intesa Sanpaolo, UniCredit e Banco BPM.
MPS is active throughout the country with 21.388 employees in 1360 branches and 160 specialist centres. It has nearly 4 million customers. Abroad, it has offices in Moscow, Beijing, Shanghai, Algiers, Tunis, Casablanca, El Cairo, Mumbai and Istanbul.

The main activity of Banca Monte dei Paschi di Siena SpA is retail banking but through the other group companies it operates in all banking and financial business areas: private banking, investment banking, digital banking, leasing, factoring, consumer credit and corporate finance. In the insurance sector it operates through strategic partnership with AXA. The asset management activity takes the form of offering its customers investment products from independent third-party companies.

Il MPS group is formed by:

• Banca Monte dei Paschi di Siena: the group's holding company, operates in banking and finance, from traditional banking to special credit, asset management, bancassurance and investment banking. It is a bank with a strong retail vocation.
• Widiba: born in 2014, it is the Group's direct online bank. It offers a complete and customizable online platform.
• MPS Capital Services: is a bank for companies that offers solutions to financial and credit problems; is focused on credit products, medium and long-term, and of a specialist type, on corporate finance activities, on capital markets and structured finance products
• MPS Fiduciaria: satisfies the interests of private individuals and legal entities who wish to ensure maximum confidentiality for their assets towards third parties. He can assume the administration of assets as a trustee and carry out the role of guardian (or protector) in the context of trusts, however established.
• MPS Leasing & Factoring: bank specializing in the development and offer of integrated leasing and factoring packages for businesses, craftsmen and professionals.
• MPS Consorzio Operativo: has the task of managing the information systems and related services of the Group.
• Monte Paschi Banque SA: this is the Group bank in support of commercial exchanges and investments by Italian companies abroad.

The largest collections come from the retail banking sector (49% of the total) and from the corporate banking sector (17,8%).

In 2021, turnover was 2,980 billion euros, a slight increase compared to the 2,917 billion of 2020. MPS closed 2021 with a net profit of 310 million euros, a positive profit compared to a loss of 1,687 billion in 2020. This is It was the bank's best result since 2015.

Monte dei Paschi di Siena was listed on the Stock Exchange in 1999. Until 17 March 2017 it was listed on the FTSE MIB index of the Milan Stock Exchange from which it exited following the suspension established by CONSOB on 22 December 2016. The exit was due following the request for State intervention in the capital after a failed 5 billion euro capital increase. In October 2017, after the recapitalization carried out by the State, has returned to being listed on the Stock Exchange. Since 18 June 2018 it has been included in the FTSE Italia Mid Cap index of the Milan Stock Exchange.

Until 2012, the majority of the bank's share capital was in the hands of the Monte dei Paschi Foundation, but since that year the Foundation has begun to sell up to owning only about 1,5% of the capital. Since January 2017 the reference shareholder is the Italian State through the participation of the Ministry of Economy and Finance. Currently the Italian State holds 64,23% of the share capital. Assicurazioni Generali it is the only other shareholder present with over 3% capital. The rest of the shareholding is given by the floating market.

The main shareholders of Monte dei Paschi di Siena are:

• Ministry of Economy and Finance, 64,23%
• General Insurance, 4,32%
• Treasury shares, 1,51%
• Floating Market, 29,94%

The outstanding shares are 1.002.405.887. Currently the market capitalization is 1.024.158.095 billion euros.
The share capital amounts to €9.195.012.196,85.

The bank's slogan is «An Italian story since 1472».

Economic and financial analysis of the company

Monte dei Paschi di Siena was born in 1472 as Monte di Pietà (called Monte Pio) by the hand of the Judiciary of the Republic of Siena. Since that year he has been working continuously.
In 1568 he expanded his activities beyond pledge loans and began the activity of land credit to landowners.
From 1580 it became a public bank with tax collection functions.
In 1624 a second mountain was created, specialized in agricultural credit, called Monte non vacabile dei Paschi of the city and state of Siena.
In 1783 the two mountains were unified. The bank consolidated and increased its banking business during the XNUMXth and XNUMXth centuries.
From 1872 the bank assumed the current name of Banca dei Monte dei Paschi di Siena.
The unification of Italy allows MPS to extend its activities throughout the Italian peninsula.

In 1929 he participated in the merger between Credito Toscano and Banca di Firenze giving life to Bank of Tuscany.

In 1936 with the RDL 12 March 1936, n. 375 is declared a public law credit institution. A new statute was issued which remained in force until 1995.

In 1988 it acquired the controlling interest (79%) of Savings Bank of Prato (Cariprato).

In the nineties it was the first bank to diversify its business into bancassurance, with Monte dei Paschi Vita. Takes control of Mediocredito Toscano and INCA which will later merge into MPS Capital Services. Abroad, it acquires controlling stakes in foreign banks, in Belgium, Switzerland and France.

In 1995, with a decree of the Minister of the Treasury dated 8 August 1995, it was given origin of two entities: the Monte dei Paschi di Siena Foundation and the Monte dei Paschi di Siena SpA Bank

On 25 June 1999 MPS was listed on the Milan Stock Exchange.

Following the listing on the Stock Exchange, in the XNUMXs, an expansion phase took place through various acquisitions. Acquires stakes in significant regional banks with strong territorial roots, including Mantovana Agricultural Bank e Bank of Salento. The controlling stake (79%) in Cariprato is sold to Banca Popolare di Vicenza for 411,2 million euro.

In November 2007 he announced the agreement with Banco Santander for the purchase of Antonveneta Bank (with the exception of the subsidiary Interbanca) for 9 billion euro.

Between February 2007 and June 2008 he sold all the shares (27,839%) of Finsoe, intermediate holding company of the Unipol Group, for €584,8m.
In October 2007, the partnership between the AXA and MPS groups was born AXAMPS.
In December 2007 MPS purchased the shares of Intesa Sanpaolo di Biver Banca - Cassa di Risparmio di Biella and Vercelli SpA for 399 million euros.

in 2008 Four-leaf clover Life, a joint venture between Unipol and Banca Agricola Mantovana, is acquired by AXA MPS Vita SpA
A capital increase is carried out in Biver Banca which brings MPS to 59%.

On 22 September 2008 Banca Agricola Mantovana was merged into MPS.

In 2010, Biverbanca acquired the local branches of Banca Antonveneta, a subsidiary of MPS. This leads MPS to control 60,42%.

In 2011 it was the fourth Italian bank in the ranking of the 15 most capitalized banks among those listed on the Italian stock exchange. At the end of the year it closed with a net loss of 4,69 billion euros.

In 2012, a plan to reorganize the group based on cost reduction and rationalization was approved: the plan envisaged the closure of 4.600 jobs with the incorporation of the subsidiaries, the closure of 400 branches by 2015, and the request for liquidity from the State Italian for 3,4 billion euros (said Mount bonds). The plan was harshly criticized by the unions with protests throughout Italy.

On 28 December 2012 Banca Monte dei Paschi di Siena sells 60,42% of the share capital of Biverbanca to the Cassa di Risparmio di Asti group for 203 million euros.

As of April 2013, Banca Antonveneta SpA is merged by incorporation into MPS.

In the 2014 is born Widiba Bank, the online bank of the MPS Group.

On 9 June 2014, a very dilutive 5 billion euro capital increase was launched. On 26 October, the bank failed the stress tests of the European Central Bank and was forced to launch a new capital increase of 3 billion euro, also very dilutive (up to 90%), one year after the previous one. On the Stock Exchange, MPS shares lost 39,2% in the last five sessions of October 2014.
In June 2015, the repayment of the Monti bonds ended; part of the interest (240 million) is repaid through shares, by making the Italian State shareholder of the bank with 4% of the capital.
In 2015, the bank had €46,9 billion in gross NPLs and €24,2 billion in net NPLs.

On 24 November 2016, a new capital increase of 5 billion euro was launched during the shareholders' meeting. However, the expected threshold will not be reached when the collection expires. MPS's listing on the Stock Exchange was suspended on 22 December 2016, when it closed at a price of €15,08 per share, equal to a capitalization that dropped to just €442 million due to the lack of increase. On the same day, the Italian government, through a decree law, established a fund of 20 billion to take over the shareholding of Italian banks in difficulty.
With an investment of 5,4 billion euros, the Italian state enters the capital of MPS, becoming first shareholder with 68% of the share capital.

On 3 February 2017, MPS sold its card business to Istituto Centrale delle Banche Popolari Italiane (ICBPI) for €520 million.

In October, with the approval of the CONSOB, it returned to being listed on the Stock Exchange with a capitalization of more than 5 billion euros. 

In 2018 the Belgian subsidiary was sold Banca Monte Paschi Belgium (BMPB), to a company owned by funds managed by Warburg Pincus for 42 million euros.

in 2020 closes the balance sheet with a loss of 1,7 billion euros. The MPS capital plan provides for a new capital increase of 2,5 billion by the Italian state in the event that it fails to find a partner.

In July 2021 UniCredit accepts the appeal launched by the Ministry of Economy to enter into direct and exclusive negotiations with the Mef for the possible acquisition of a "selected" part of MPS which, according to agreements between Italy and the EU, must be privatized by 2022. After a few months of negotiations no agreement is reached and in October 2021 negotiations are interrupted.

In December 2021 seeThe new 2022-26 industrial strategic plan is launched which is now being examined by the ECB and the European Commission with which the MEF is discussing the new terms of exit from the capital. Starting next year, the plan postulates a recapitalization of 2,5 billion euros in view of a gradual return to profit, expected at 700 million pre-tax in 2024.