Monte dei Paschi, 545 years of history behind it, turn the page. The Sienese bank, in view of today's presentation of the half-yearly accounts, has announced that control of its capital has passed into the hands of the State, with a 53% stake in the Ministry of Economy and Finance destined to rise in the autumn to 70%.
As a result of the precautionary recapitalization of approximately 8,3 billion, of which approximately 4,473 billion through the burden-sharing of subordinated bondholders and approximately 3,854 billion with the increase subscribed by the Treasury, which owns 593,87 million shares, the capital Banca Monte dei Paschi's current share capital is approximately 15,7 billion, divided into 1,14 billion shares.
Maybe it's the right time to write a new history of Monte, even if today's half-yearly accounts will still be in the red for around 3 billion due to problem loans.
