(Tiper Stock Exchange) – Bank Monte dei Paschi di Sienafollowing the successful completion of the capital strengthening operation, “presents a capitalization among the highest in the system and, thanks to the reduction in overhead costs and the strengthening of the commercial organization, it is on its way towards achieving the objective set out in the Plan, of generating over 700 million euros in profits in 2024″. This can be read in the answers to the questions from the shareholders, in view of the meeting scheduled for 20 April.
“This premise will allow MPS to look at all opportunities that they should present in terms of consolidation of the Italian banking sector”, it is underlined.
about theshare performancethe bank highlights that the trend in recent weeks “has affected by the strong volatility of the market resulting from the well-known events of the Silicon Valley Bank and Credit Suisse, which generated a crisis of confidence among financial operators in the banking sector”.
However, from the conclusion of the capital increase (November 4, 2022) and up to the events of the Silicon Valley Bank (March 9, 2023) the “MPS share had reached a price of 2.33 euros, with a performance of +19.75 %, sessentially in line with the performance of the FTSE IT Banks index“.
The Sienese bank also reports, “in confirmation of the market’s appreciation for the path taken by the Bank”: the restarting coverage/improved recommendation by some equity analysts; The rating improvement.
“We believe that the progressive completion of the Industrial Plan will allow for increase market awareness regarding the potential of the bank and, consequently, its value”, it is added.