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The World's Oldest Bank, Rescued by the Italian State

Written by: Bridgewest

The-Worlds-Oldest-Bank-Rescued-by-the-Italian-State.pngThe world’s oldest bank, Monte dei Paschi din Siena (BMPS), was rescued by the Italian authorities through a state-funded operation. The local authorities have approved the rescue plan, which will have positive effects on the businessmen who have invested their financial assets in this entity. The overall value of the financial assistance provided to the BMPS is established at EUR 20 billion. Businessmen interested in investing in Italy can find out more details on the legal aspects from our team of lawyers in Italy
 

The rescue plan for the BMPS  

 
In order to save the BMPS, the local authorities will provide a capital of EUR 20 billion. Out of this sum, a quarter will be offered to the Tuscan BMPS. The decision was taken as an effect of the capital shortage registered by the entity, in relation with the private investors. The BMPS is an important bank in Italy, as it represents the third largest lender registered in this country.  
 
The rescue plan will have positive effects on approximately 40,000 small investors. Moreover, through this procedure, the BMPS will recover its main attributions: 
 
the bank will be able to provide lending to companies and investors;
the savings of the bank’s clients will be safe;
the bank’s employees can secure their jobs. 
 
The decision is seen as a good investment, even in the situation in which the bank experienced similar problems in the past.  
 
The BMPS was founded in 1472 and, at the moment, the institution will survive through the local investments. Our team of attorneys in Italy can provide more details on the banking legislation available here. 
 

Investment plans of the BMPS   

 
Those who are interested in investing in Italy must know that the BMPS has already created a plan to recover its financial situation. In 2017, the BMPS will issue EUR 15 billion of debt in order to recover its liquidity. At the same time, the procedure is expected to increase the consumer confidence
 
Businessmen interested in finding out more information on the banking system available here are invited to contact our law firm in Italy
 

Comments

  • Dan 2017-01-06

    I hope that the measure will have the expected results.

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