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Italy confirms Monte Paschi repays bulk of state aid
July 1, 2014 / 6:47 PM / in 3 years

Italy confirms Monte Paschi repays bulk of state aid

ROME, July 1 (Reuters) - Italy’s Banca Monte dei Paschi di Siena has repaid 3.1 billion euros ($4.3 billion) in state aid and an additional 329 million euros in interest, the Italian Treasury said on Tuesday, confirming plans announced by the bank a day earlier.

The payment follows successful completion of the bank’s 5 billion euro capital increase last week.

The bank, Italy’s third-largest by number of branches, was rescued through 4.1 billion euros of state aid in the form of special loans after being hit by the euro zone crisis and a derivatives scandal.

$1 = 0.7331 Euros Reporting By James Mackenzie; editing by Keiron Henderson

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