March 23, 2018 / 11:53 AM / a month ago

Italy's Treasury says has no concerns about Monte dei Paschi

ROME, March 23 (Reuters) - The Italian government is not worried about Monte dei Paschi di Siena, the country’s fourth-largest bank, in which it owns a 68 percent stake following a bailout last year, a Treasury spokesman said.

“There are no reasons for us to be concerned, the business plan is proceeding positively and in line with the expected timeline,” the spokesman said, in answer to a Reuters query.

“In this context, there is obviously no reason to foresee any capital measures.”

Monte dei Paschi has seen its share value decline by nearly 33 percent this year - against a 5 percent drop in Italy’s banking stock index - fuelling speculation in the Italian press it may fall behind in the restructuring plan agreed with EU authorities at the time of its bailout. (Reporting by Giuseppe Fonte, writing by Valentina Za Editing by Isla Binnie)

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