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Monte dei Paschi Profit Beats Forecasts

Monte dei Paschi di Siena reported a third-quarter net profit of 543 million euros, surpassing analyst expectations. The stronger results come as larger rival Intesa Sanpaolo prepares to launch its multi-billion euro buyout offer later this month.

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View of the entrance to the headquarters of Monte dei Paschi di Siena (MPS), the oldest bank in the world, which is facing massive layoffs as part of a planned corporate merger, in Siena, Italy, August 11, 2021. REUTERS/Jennifer Lorenzini

BANCA MONTE DEI PASCHI SIENA posted a third-quarter net profit of €543 million on Friday morning, beating analyst expectations as INTESA SANPAOLO prepares a €34 billion buyout offer. The earnings top the €533 million company-provided consensus forecast. Revenue also exceeded expectations, reaching €2 billion during the July-September period.