Banca Monte dei Paschi di Siena (STU:MPI0)
€ 6.074 0.04 (0.66%) Market Cap: 7.84 Bil Enterprise Value: 2.60 Bil PE Ratio: 2.81 PB Ratio: 0.67 GF Score: 40/100
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Q3 2022 Banca Monte dei Paschi di Siena SpA Earnings Call Transcript

Nov 11, 2022 / 08:00AM GMT
Release Date Price: €1.79 (-0.39%)
Operator

Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the MPS' Third Quarter '22 and 9 Months '22 Results Presentation. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Luigi Lovaglio, Chief Executive Officer and General Manager of MPS. Please go ahead, sir.

Luigi Lovaglio
Banca Monte dei Paschi di Siena S.p.A. - CEO, GM & Director

Good morning, everybody. My warm welcome to all of you. Many thanks for joining us to Monte dei Paschi's third quarter and 9 months results presentation. I'm very satisfied because we are starting a completely new chapter of the oldest bank in the world.

With the results I'm going to present, I'll reveal strong points of Monte dei Paschi's life. In August, I told you we were working on the plan implementation at full steam. Today, I can say we have already delivered the most important pillars of our plan. EUR 2.5 billion capital increase that allows the bank to reduce the HR cost by over 20% in 1 shot and to be in the position to fully exploit

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