Webcast - Banca Monte dei Paschi di Siena's credit profile and outlook

ReachX is glad to invite to you a webinar with Bank Capital Specialist GJ Prasad on Thursday 21st March 2019 at 4 pm to discuss Banca Monte dei Paschi di Siena's credit profile and outlook.

The event is COMPLIMENTARY and targets professional investors 

Click on link below to register :

https://www.reachx.co/insights/gj-prasad/webinar---let-us-talk-monte

Banca Monte dei Paschi di Siena

Background

• Founded in 1472 and having survived many crises, MONTE is now in critical condition.  
• Systemic importance increased with 2008 acquisition of Banca Antonveneta
• Lost market access to funding and capital raising leading to multiple bailouts by the Italian Government
   

Highlights

• Italy’s 4th largest commercial bank by assets with a focus on retail / SME lending.
• Considered a domestically important financial institution
• Stock declined more than 60% in the last year on worries of potential additional capital injection requirement.
• Market capitalisation is around EUR 1.5 billion (P/TNAV of 0.2 times).
• Government owns 68.2% stake having invested EUR 8.3 equity capital 
• Undergoing radical restructuring dictated by agreement with European Commission
• Overall very weak credit profile reflecting low profitability and poor asset quality.