26 Oct The MPS Foundation on the Comprehensive Assessment
The Monte dei Paschi di Siena Foundation has learned of the publication by the European authorities of the Comprehensive Assessment and the statement made in this regard by the Bank of Italy.
As indicated in the Bank of Italy’s statement, Banca Monte dei Paschi di Siena will submit a plan for strengthening its capital base and the resulting changes to its restructuring plan to the supervisory authority and the European Commission respectively.
The MPS Foundation, in line with the contents of its 2015-2017 Multiyear Strategic Planning Document approved last September, considers its investment in the bank to be strategic and will monitor it constantly, also in relation to any necessary extraordinary operations. The Foundation will devote maximum attention to this topic in the coming weeks.
The Foundation, as indicated in the Planning Document, in conformity with its charter (art. 3, paragraph 1) will pursue the aim of maintaining the tie between the bank and the Siena area. This will have to be consistent with the need to safeguard the Foundation’s capital assets, ensure an adequate return on investments, and promote the economic development of the area.
These elements, individually and as they are interrelated, will form the base of the evaluations and decisions to be made by the Foundation regarding the future. These decisions will be made, in close coordination with the other parties in the shareholders’ agreement, on the basis of the scenarios that open up in relation to the bank’s capital strengthening programme.
The MPS Foundation has confidence in the work and the professional skills of the management of Banca Monte dei Paschi di Siena.