Italy’s Monte dei Paschi lifts guidance as turnaround strategy yields results

State-owned Italian bank Monte dei Paschi di Siena (BMPS.MI), opens new tab on Tuesday raised its profit outlook and dividend payout goal through 2028, after second quarter earnings came in well ahead of expectations.

Shares in the bank, which has implemented a turnaround strategy under Chief Executive Luigi Lovaglio after a 5.4 billion euro ($8.72 billion) state bailout in 2017, were up 7.8% after the bank updated its forecasts through to 2028..

Source: REUTER