Reported 2 months ago
Banca Monte dei Paschi di Siena SpA announced an increase in its payout target to 75% of pretax profits, significantly up from 50%, as the bank projects rising earnings until 2028. The move reflects a turnaround strategy under CEO Luigi Lovaglio, who has focused on cost-cutting and profitable business segments, contributing to a reported second-quarter profit of €827 million, exceeding analyst estimates. The bank aims for €1.3 billion in pretax profit this year and €1.7 billion by 2028 while maintaining its financial stability.
Source: YAHOO