MPS, nine-month profit is close to one billion. Does not pay tax on extra profits

MILAN – MPS archives accounts with better profits than the market expected. The Sienese bank, controlled by the state that had saved it, closed the first nine months of the year with a net profit of 929 million euros, compared to a loss of 334 million in the same period of 2022. The profit of third quarter stood at 310 million, above the 238 million expected by analysts.

Among the factors that have marked the recent history of the oldest bank in the world, the sentence of Court of Cassation which acquitted the former leaders Giuseppe Mussari And Antonio Vigni In the derivatives process: a procedural milestone that allowed Montepaschi to downgrade the risk relating to some legal proceedings and out-of-court requests from “possible” to “remote”. As a result, the note on the accounts details, the overall amount of litigation and out-of-court requests for financial information disclosed in the period 2008-2015 was reduced from 4.1 to 2.9 billion. Furthermore, all out-of-court claims notified to the bank after 29 April 2018, in line with the provisions of the Supreme Court, “are to be considered time-barred”.

MPS, the burden of litigation could be halved to two billion

Andrea Greco

October 13, 2023

Even MPS, as already done by its competitors in recent days, has finally announced that will not pay the tax on extra profits setting aside an amount of no less than 312.7 million euros, equal to 2.5 times the amount of the tax.