PARIS, May 6 (Reuters) - AXA, Europe’s No. 2 insurer, intends to participate in a 5 billion-euro capital hike by Banca Monte dei Paschi di Siena, its deputy CEO Denis Duverne said in a conference call on Tuesday.
“We have taken part in all capital hikes until present. We intend to do so during the next capital hike, being vigilant about developments in the governance,” Duverne said.
“We have confidence in the current management of the bank”.
Italy’s third-largest bank seeks to plug any possible holes in its finances ahead of a review of the continent’s lenders by the European Central Bank.
Reporting by Maya Nikolaeva and Matthieu Protard, editing by Astrid Wendlandt