Giovedì, 18 Ottobre 2018
ROME

MPS CEO Viola says there are no more derivatives risks

English
© ANSA

Rome, February 7 - Troubled lender Monte dei Paschi
di Siena (MPS) bank's chief executive on Thursday said there are
no more high-risk derivatives operations on the bank's books.
During a conference call, Fabrizio Viola said that "in a
commercial bank like MPS, finance must have a residual role and
in any case it must be functional to the bank's (main)
activities".
Viola was referring to the derivatives scandal at MPS which
has shaken Italy's third-largest lender and scared off
investors.
On Wednesday MPS said that total losses from failed
high-risk derivatives operations at the 541-year-old bank
reached 730 million euros.
During the conference call Thursday Viola said there were
no other derivatives operations like Santorini - the complex
operation which led to part of the bank's huge losses - on the
banks books.

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