MPS Beats First Quarter Estimates as Revenue Grows
MPS reported a quarterly profit of 521 million euros, beating forecasts. CEO Luigi Lovaglio said confidence is returning after the Mediobanca acquisition.
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Monte dei Paschi di Siena reported first-quarter net profit of 521 million euros, beating the 511 million euro analyst consensus. Revenue rose 3% to 1.96 billion euros as the lender integrated its acquisition of Mediobanca. The results signal recovery in Italy's banking sector despite leadership turbulence and wealth outflows.
