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SPO - Banca Popolare Di Spoleto SpA News Story

€1.79 0.0  0.0%

Last Trade - 18/09/13

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £130.4m
Position in Universe th / 720

Bank of Italy chief defends role in watchdog case

Wed 28th October, 2015 11:05am
ROME, Oct 28 (Reuters) - Bank of Italy Governor Ignazio 
Visco defended on Wednesday the central bank's oversight of 
troubled lender Banca Popolare di Spoleto  BPSP.MI  (BPS), which 
is the focus of a legal probe. 
    Prosecutors said earlier this month they had opened an 
investigation into Visco and seven other officials over the 
collapse and subsequent sale of BPS after small shareholders 
complained that the central bank's action had cost them dearly. 
 ID:nL8N12L3Y7  
    "I only want to say that I have no hesitation in defining 
the oversight of the Bank of Italy as legitimate, correct and 
attentive," Visco said in his first comments on the probe. 
    The Bank of Italy had requested that BPS be put under 
special administration in February 2013 after an inspection the 
previous year found serious irregularities and large capital 
losses at the small lender. 
    The central bank then picked another small Italian bank, 
Banco di Desio e della Brianza  DESI.MI , to take over BPS. 
 
 (Reporting by Stefano Bernabei and Giuseppe Fonte; Editing by 
Crispian Balmer) 
 ((crispian.balmer@thomsonreuters.com; +390685224351; Reuters 
Messaging: crispian.balmer.reuters.com@reuters.net)) 
 
Keywords: BANKOFITALY PROBE/
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