February 7, 2013 / 9:25 AM / 5 years ago

Monte Paschi CEO says sees no more derivatives losses

SIENA, Italy, Feb 7 (Reuters) - Banca Monte dei Paschi di Siena Chief Executive Fabrizio Viola said on Thursday the bank sees no more derivatives losses beyond the 730 million euros disclosed late Wednesday.

“There are no more Santorini,” he said, referring to one of the three derivatives contracts at the heart of a fraud probe into former management of the bank. The bank said late on Wednesday the 730 million euros loss linked to those three trades would weigh on its 2012 net asset value.

He also said he saw no additional impact on the bank’s accounts from personnel costs than what it stated in the first half of 2012.

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