Viola: ‘In MPS high transparency – BBC

the CEO of Montepaschi, Fabrizio Viola, disagrees: in front of “the incessant media focus” on the bank for the investigation into that involves along with former President Alessandro Profumo to the hypothesis of false accounting and

L'amministratore Chief of Mps, Fabrizio Viola (Imagoeconomica)

market manipulation, Friday has put pen to paper to reply to the controversy that erupted in the meantime, from small shareholders who ask the commissioner ECB the bank, the blog of Beppe Grillo which invokes the institute nationalization.

Viola aims to eliminate “the possible risk of misinterpretation or manipulation in a time of such great attention to the plans that we are bringing to realization with strenuous efforts.” Reaffirming that one of Siena pm, then moved to Milan for territorial jurisdiction, it is a “necessary act” before a statement, recalled that “the bank, with its current leadership has provided together with an effective and continuous contribution to investigations. ” Thus, “with full confidence in the judiciary and the serenity of the correctness of our work forward to the rapid resolution of the situation.”

the survey is the result of some exposed to small shareholders as the consultant Giuseppe Bivona and the lawyer Emilio Falaschi after that Consob had imposed last December to rewrite the 2014 financial statements and half-year 2015 for the ” non-conformity ‘of items of Alexandria, a derivative made with the Japanese bank Nomura, accounted for as a transaction of sale and purchase of BTP. “I do not hide it for me emotionally burdensome ‘, Viola continues,” in the face of the immense efforts of the past four years for the rehabilitation of the bank, as well as for the bank itself, see further negative effects of the aftermath of the past and the responsibilities of others’ , ie the management of Giuseppe Mussari and Antonio Vigni. It draws’ attention to what’s inability or unwillingness to highlight the clear distinction between the previous administration and the work of the current one can, at this sensitive time, adversely affect the credibility of the bank, the objective results achieved, and the trust that has been recaptured. ”

Friday the title, on the heels of the market, lost another 2.5%. Viola knows that there is for Mps most delicate moment: at the request of the ECB, after not passing the stress test in late July, the institute has launched a maxioperazione sale of 100% of non-performing loans (27.7 billion gross) through a securitization to which will also participate in the fund Atlas and a subsequent capital increase of up to 5 billion. And the unknowns of the land are many, for a bank that for the third time back to ask capital to the market, after the increases from 5 billion in 2014 and 3 billion by 2015.

Much will also depend on how will evolve this dossier of inquiry, which joins on to that post-Antonveneta transaction for which the prosecutor in Milan has requested the indictment, among other things, of Mussari and Vigni. The story may be archived when you consider that in the financial statements, even pro forma, were indicated the effects of Alexandria (and the sister operation, Santorini, with Deutsche Bank) as derivatives, as indicated by Consob and Bank of Italy. But small shareholders contesting inter alia that the financial statements are incorrect because, as emerged from the investigation, the 3 billion below BTP Alexandria actually have never been bought, although they are in current MPS .

August 19, 2016 (modified August 19, 2016 | 23:12)

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