Chinanews.com, November 5th. According to Euronet, the CEO of Mushan Bank of Siena, Italy, reported to the group’s board of directors recently that in order to meet the cash demand in the first quarter of 2021, the bank urgently needs to inject capital 15 To 2 billion euros in cash, otherwise it will face a restructuring crisis again.
According to the report, due to historical problems, Siena Mushan Bank’s bad debt cleanup plan requires 1.1 billion euros.
Affected by the epidemic, the bank faces a large funding gap.
According to a person familiar with the matter, Siena Mushan Bank will review the third-quarter financial report on November 5. The board of directors of the group has asked the CEO to discuss with the Italian Ministry of Economy and Finance before meeting with investors the plan and plan for solving the expected shortage of funds. .
According to reports, the Italian Ministry of Economy and Finance plans to merge Siena Mushan Bank with other banks.
The source said that the Italian Ministry of Economy and Finance should have listed Yuxin Bank and BPM Bank as potential merger targets for Siena Mushan Bank.
Founded in 1472, the Siena Mushan Bank of Italy is one of the oldest existing banks in the world.
It is currently the third largest commercial bank in Italy.
In 2007, in order to expand across Italy, Siena Mushan Bank owed huge debts due to the acquisition of a competitor.
In 2012, the Italian government provided approximately 2 billion euros in aid loans to the troubled Siena Mushan Bank.
(Boyuan)