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Italian lender Monte dei Paschi back in the black in third quarter

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Italian lender Monte dei Paschi back in the black in third quarter

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MILAN (Reuters) – Italian lender Monte dei Paschi di Siena <BMPS.MI>, rescued from the brink of collapse by a state bailout, posted a third-quarter net profit of 242 million euros (£213.1 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.

(Reporting by Valentina Za; Editing by Mark Bendeich)
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