2017 Financial draft statements approved
Siena, 1 March 2018 – Today the Board of Directors of Banca Monte dei Paschi di Siena approved the Bank's draft financial statements and Montepaschi Group's draft consolidated financial statements as at 31 December 2017, confirming the preliminary results which had already been approved by the Board and disclosed to the market on February 9th, to which reference should be made.
The Group closed 2017 with a consolidated net loss for the year of EUR 3.5 billion, impacted, among other things, by non-recurring provisions for c. EUR 4 billion connected with the disposal by means of securitisation of a set of exposures that had been classified as non-performing (“sofferenze”).
With regard to capital ratios, as at 31 December 2017 the Common Equity Tier 1 Ratio stood at 14.8%, vs. 8.2% at the end of 2016, and the Total Capital Ratio was 15%, vs. 10.4% recorded at the end of December 2016.
Pursuant to paragraph 2, article 154-bis of the Consolidated Finance Act, the Financial Reporting Officer, Nicola Massimo Clarelli, declares that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.