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Italian lender Monte dei Paschi back in the black in Q3
November 7, 2017 / 5:23 PM / 13 days ago

Italian lender Monte dei Paschi back in the black in Q3

MILAN, Nov 7 (Reuters) - Italian lender Monte dei Paschi di Siena, rescued from the brink of collapse by a state bailout, posted a third-quarter net profit of 242 million euros ($280 million) on Tuesday, returning to the black after a run of heavy losses.

A year earlier, the bank, the world’s oldest, had reported a loss of around 1.2 billion euros. Now controlled by the Italian government, the bank said it had a core capital adequacy ratio of 15.2 percent, one of the highest in the country.

$1 = 0.8633 euros Reporting by Valentina Za; Editing by Mark Bendeich

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