MPS upgrades outlook after quarterly profit soars above forecast

 State-owned Italian bank Monte dei Paschi di Siena (BMPS.MI), opens new tab raised its profit outlook on Tuesday after posting much higher- -than-expected second quarter earnings, helped by tax credits.

MPS, which Italy saved from collapse in 2017, said it expected its pre-tax profit to total 1.4 billion euros ($1.5 billion) in 2026. That is up from a 909 million euro target under a strategy through 2026 it presented two years ago.

Source: REUTER