AFP international
the headquarters of The bank Monte Paschi di Siena in this Italian city, in an image of the 1 July 2016 (afp_tickers)
The bank Monte Paschi di Siena (BMPS), considered the weakest link of the Italian banking system, announced Tuesday a strategic viability plan that provides for the elimination of 2,600 jobs and the closure of approximately 500 branches.
The plan 2016-2019, presented by Marco Morelli, director of the BMPS from the 20 of September, points to a benefit of € 1,100 million in 2019 through a drastic reduction of the costs, it was announced.
The BMPS, the third largest bank of Italy and the oldest in the world, had the worst results of stress tests of the European Banking Authority (EBA) published in July, indicative of their important vulnerability in the event of a further worsening in the economic situation.
afp_tickers
AFP international
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