Italy's MPS sees impact of new risk models on 2022 results at around 4 bln euros

Kitco Media
By Reuters
Published:
Updated:
Reuters
MILAN, April 18 (Reuters) - Italy's Monte dei Paschi (MPS) expects an impact of around 4 billion euros ($4.39 billion) on last year's results from its new risk models, according to the bank's management answers to shareholders filed on Tuesday.


The document showed MPS had received in March a green-light by the European Central Bank to adopt the new models, which banks use to calculate their risks. The estimate compares with a 5.6-billion-euro hit previously forecast under the Tuscan lender's business plan to 2026.
($1 = 0.9115 euros) (Reporting by Gianluca Semeraro, writing by Federico Maccioni, editing Cristina Carlevaro)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.