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Monte Paschi wins BOI approval for partial repayment of state aid
May 14, 2014 / 7:09 AM / 4 years ago

Monte Paschi wins BOI approval for partial repayment of state aid

MILAN, May 14 (Reuters) - Italian lender Monte dei Paschi di Siena said on Wednesday it had won approval from the Bank of Italy to partially repay state loans it received in a bailout.

The bank had to request 4.07 billion euros in state aid last year after being hit hard by the euro zone debt crisis and a scandal over loss-making derivative trades.

In its statement, it said it plans to pay back 3.46 billion euros - or 3 billion euros of original aid plus interests and other costs - after a 5 billion euro capital increase due to be launched in June. ($1 = 0.7296 Euros) (Reporting by Silvia Aloisi; editing by Francesca Landini)

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