Mens Sana Basketball Siena , also known as simply Mens Sana , is an Italian professional basketball club based in Siena . It is a section of the sports club Polisportiva Mens Sana , founded in 1871.
72-565: Under the name Montepaschi Siena , derived from sponsor Banca Monte dei Paschi di Siena , the club was a dominant presence in the Italian Serie A , winning five titles in a row from 2006–07 to 2010–11, besides two more titles later revoked by the Italian Federation , whilst also challenging for titles in Europe. After financial problems caused the club to go bankrupt in 2014, it moved down to
144-594: A 5.748 percent stake in the bank (as the bank was still a constituent of stock market indices at that time, such as the FTSE MIB , fund managers held stakes in their index tracking funds, and were required to disclose stakes of 5% or higher). In July, the capital increase was completed, of which the banking foundation had just owned 2.500% shares. In October, the bank failed the ECB's stress test of major European banks, (first Comprehensive Assessment of European Banking Supervision ) and
216-568: A consequence is directly supervised by the European Central Bank . Banca Monte dei Paschi di Siena traces its history to a mount of piety ( monte di pietà ) founded by order of the Magistrature of the Republic of Siena on 4 March 1472, when its statute was approved. It is therefore often regarded as being the oldest bank in the world in continuous operation. The basis of its foundation
288-572: A fifth straight Serie A crown and a third straight Cup title to their trophy cabinet. In 2011–12 , Montepaschi achieved an unprecedented sixth consecutive Serie A title, adding the Supercup (their fifth in a row) and Cup (fourth) for good measure. The 2011–12 Euroleague saw eventual champions Olympiacos avenge their preceding year's defeat by topping the Italians in the quarterfinals. All the titles won during this season were to be revoked four years later by
360-612: A greater ownership stake in return for more capital. In December 2012, Cassa di Risparmio di Biella e Vercelli was sold to Cassa di Risparmio di Asti for about €205.5 million. In 2009, the Santorini and Alessandria operations began creating huge losses. In order to hide them in the bank's financial statements, the top management, including Giuseppe Mussari, the bank president, chose to enter into derivative contracts with Deutsche Bank and Nomura . This arrangement eventually led to prison sentences for 13 bank executives. Estimates of
432-470: A joint venture insurance company of Unipol and Banca Agricola Mantovana , was acquired by AXA from Unipol via Banca MPS, Banca Agricola Mantovana was also absorbed into Banca MPS. Banca MPS also acquired regional bank Cassa di Risparmio di Biella e Vercelli from Intesa Sanpaolo in December 2007 for about €399 million. In the wake of rising yields and declining valuations on Italian government debt in
504-477: A net book value of €10.2 billion as at 31 March 2016. The junior tranche would be allocated to the shareholders of the bank (for a proposed €1.6 billion); the mezzanine tranche would be sold to Atlante for €1.6 billion (revised to purchase junior mezzanine tranche for €1.526 billion in December 2016); the senior tranches would be sold to the market with some of them being eligible to state guarantee (Garanzia sulla Cartolarizzazione delle Sofferenze) for €6 billion. It
576-500: A player must have either: 2010s 2000s 1990s Throughout the years, due to sponsorship, the club has been known as: Banca Monte dei Paschi di Siena Banca Monte dei Paschi di Siena S.p.A. ( Italian pronunciation: [ˈbaŋka ˈmonte dei ˈpaski di ˈsjɛːna] ), known as BMPS or just MPS , is an Italian bank . Tracing its history to a mount of piety founded in 1472 (552 years ago) and established in its present form in 1624 (400 years ago), it
648-514: A plea bargain in 2016. Following an appeal, in May 2022, a Milan appeals court ruling overturned the 2019 conviction of the former executives and the two banks over derivative deals and cancelled the seizures imposed on Deutsche Bank and Nomura Holdings Inc. In October 2023, Italy's Supreme Court of Cassation confirmed the acquittals in Monte dei Paschi derivatives case. In March 2014, BlackRock declared
720-609: A possible recapitalisation of UniCredit , BMPS, Banca Popolare di Vicenza , Veneto Banca and Banca Carige , as well as banks that need recapitalisation in the near future. It was reported that the subordinate bond would be mandatorily converted to shares by the resolution authority of Italy (which is Bank of Italy) as a "bail-in". However, the bank had requested a Tier 2 subordinate capital instrument "Fresh 2008" excluded from such bail-in, as many investors were retail investors. On 25 January 2017 BMPS issued bonds with €7 billion face value. The bonds would mature from 1 to 3 years, with
792-424: A renewal of their partnership bancassurance —an agreement intended to prevail until 2027. In December 2016, BMPS successfully made debt-to-equity swap for part of their subordinated debt and Tier 1 capital instrument, for a maximum price of €24.9 per new share (on top of €5 billion new shares issue). In mid-December, BMPS reopened the offer for the swap, which reached approx. €2.451 billion. However, due to
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#1733104359513864-553: Is the Statuto dei Paschi , written in 1419, a law that regulated all activities related to agriculture and pastoralism in Maremma . Its current form dates from 1624, when Siena was incorporated into the Grand Duchy of Tuscany and Grand Duke Ferdinando II granted to depositors of Monte, in their warranty, the income of the state-owned pastures of Maremma (the so-called "Paschi" which gave
936-411: Is the world's oldest or second oldest bank , depending on the definition, and the fifth largest Italian commercial and retail bank. In 1995, the bank (then known as Monte dei Paschi di Siena) was transformed from a statutory corporation to a limited company called Banca Monte dei Paschi di Siena (Banca MPS). The Fondazione Monte dei Paschi di Siena was created to continue the charitable functions of
1008-465: The 2000–01 FIBA SuproLeague . A year later coach Ergin Ataman and players Vrbica Stefanov , Mindaugas Žukauskas , Boris Gorenc and Milenko Topić were added. The team, with the mid-season addition of Petar Naumoski , beat Pamesa Valencia to lift the 2002 Saporta Cup , their first ever title. In 2002–03, Montepaschi added guard Alphonso Ford and forward Mirsad Türkcan . For their first season in
1080-431: The 2008 Euroleague Final Four after sweeping their quarterfinals. A 17-point second-half lead against Maccabi Tel Aviv proved insufficient as the Italians lost in the semifinal. On the domestic front, Siena started the season with 18 successive wins and were never challenged in their third title conquest. In 2008–09 , Siena became the second side to complete a domestic treble after losing just one game on their way to
1152-441: The 2013–14 Euroleague , alternating between close wins (sometimes on the buzzer) and closer defeats, ending the season with 3 wins and 7 losses. In their final game against Unicaja that would decide who progressed from the group, the Italians were the victims of a buzzer beating shot that eliminated them from the competition. Though its financial problems emerged to the fore, with a relegation all but assured due to massive debts, on
1224-876: The EuroLeague , Europe's best competition, the Italians reached the Final Four (just the second team to achieve the feat), losing 62–65 to Benetton Treviso , a team that also beat them in the domestic semifinals on the way to the title. Before the 2003–04 season, Carlo Recalcati , the Italian national team coach, was chosen in order to win a scudetto (Italian title), with Ford and Turkcan being replaced by David Andersen , Giacomo Galanda , Bootsy Thornton , David Vanterpool and later Michalis Kakiouzis . Siena would accomplish that goal, sweeping all of its playoff series 3–0 and claiming their first ever scudetto after toppling Metis Varese , Scavolini Pesaro and Skipper Bologna . Earlier,
1296-518: The European sovereign-debt crisis , MPS lost over $ 2 billion in the first half of 2012, had to recapitalize, and faced restructuring or worse. The majority owner until the recapitalization, the Fondazione Monte dei Paschi di Siena, long resisted issuing new capital which would dilute its holding. In September 2012, even after the dilution, the bank "appear[ed] poised" also to give the national government
1368-504: The fourth division . In the 2015–16 season it played in the second division . For past club sponsorship names, see the list below . The parent organisation, Associazione Ginnastica Senese "Mens Sana in Corpore Sano 1871" , was formed on 16 April 1871 by university students. In the beginning of the 19th century the gymnastics club became a multi-sports club ( Italian : Polisportiva ) by adding other sports under its wing. Basketball
1440-506: The play-offs whilst the two lowest ranked teams, Coop Nordest Trieste and Sicilia Messina , were relegated to the Legadue . Montepaschi Siena won their first ever title by winning the playoff finals series against Skipper Bologna . The league signed a three-year sponsorship contract with mobile phone company TIM in September 2003, award the naming rights for the competition. Prior to
1512-558: The 2014–15 season, with all players having left though Roberto Chiacig returned. In June 2015, Mens Sana 1871 won the third place game in the Serie B final four to earn a promotion to the unified second division Serie A2 for 2015–16. In March 2019, Siena was excluded from the West Group of the Serie A2 for economic issues. In the beginnings of 2019, the team's roster was practically dismantled due to
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#17331043595131584-720: The 5th Tier of the Italian Basketball Federation . Mens Sana played in the Sant’Agata gymnasium before moving into the Dodecaedro (later Palazzetto Giannelli) when it was built in 1968. They later moved into the Palascalavo in 1976 (now Palasport Mens Sana , capacity 6,000). 1st Source: Eurobasket.com Note: Flags indicate national team eligibility at FIBA -sanctioned events. Players may hold other non-FIBA nationalities not displayed. To appear in this section
1656-536: The Banca d'Italia (Bank of Italy) approved a bailout request from the bank for €3.9 billion ($ 5.3 billion). The firm sparked fresh controversy in 2013 when it was accused of misleading Italy's market regulator in October 2012, shortly before it received a 4.1-billion euro ($ 5.47 billion) state bailout. On 29 December 2013, Fondazione Monte dei Paschi di Siena rejected plans for issuing €3 billion worth of new shares, delaying
1728-576: The Italian Basketball Federation, following an investigation for accounting and fiscal fraud. 2012–13 saw two major changes with a decrease in budget that saw several players leave and a change in coach, with Pianigiani replaced by assistant Luca Banchi . Montepaschi wasn't as competitive, being eliminated at the Euroleague Top 16 stage whilst in the domestic league they finished the regular season in fifth place with 12 losses. However
1800-700: The Italian average itself was higher than the European Union average. On 21 January 2016 MPS securitized €1.6 billion performing lease receivables portfolio for a value of €1.4173 billion. The bank repurchased €656 million of the securities (tranches B to D) and sold €761.3 million of the securities to the market (tranche A). In April 2016 German Bundesbank board member Andreas Dombret commented that many Greek and Italian banks were zombie banks that were kept for political reasons. He urged that European Central Bank should deal with banks with high level of non-performing loans. However, he did not state specifically if BMPS
1872-768: The Italian government sold a further 12.5% stake in MPS, for about €650 million. This sell further cuts Italy's stake in MPS, reducing it to 26.7% from 39.2%, and advances the government's plan to privatise MPS. 2003%E2%80%9304 Lega Basket Serie A The 2003–04 Lega Basket Serie A , known as the Serie A TIM for sponsorship reasons, was the 82nd season of the Lega Basket Serie A , the highest professional basketball league in Italy . The regular season ran from October 4, 2003 to May 9, 2004, 18 teams played 34 games each. The top 8 teams made
1944-639: The Round of 16. Only two seasons later the side was in the second division again and at the end of the 1986 season it moved down to the third division Serie B Eccellenza. Siena would stay there until 1990, returning to the Serie A in 1991 and staying there for good from 1994. At the beginning of the decade, the club had become autonomous from the Polisportiva. With coaches like Gianfranco Lombardi , Cesare Pancotto and Valerio Bianchini and players Sandro Dell'Agnello , Sylvester Gray , Gerard King , and Larry Middleton
2016-423: The adverse scenario in 2018, it would mean the bank would have a capital shortfall of €8.8 billion (core tier 1, additional tier 1 and tier 2 capitals combined), according to European Central Bank publication on 29 December 2016. On the same day, the plan to recapitalize the bank for €5 billion was announced; the bank also planned to securitize the entire bad loan portfolio for a target of €9.2 billion, which had
2088-519: The approval of general shareholders' meeting. The bank 2016 revenue, net interest income and pre-provision profit were decreased, compared to 2015. Combined with the write-down and provisions for NPLs, the net loss of the year was €3.380 billion. The CET1 ratio was reaching the legal minimal threshold of 8.0% (below ECB requirement in individual basis on the bank for 10.75%) On 1 June 2017 European Commissioner Margrethe Vestager agreed in-principle for
2160-454: The bank and to be, until the bailout in 2013, its largest single shareholder. According to research by Mediobanca and a press release issued by Banco BPM , Banco BPM overtook BMPS as the third largest commercial banking group in Italy (in terms of total assets) on 31 December 2016, after Banco BPM's formal formation on 1 January 2017. In 2016–17, BMPS was struggling to avoid a collapse, and it
2232-484: The bank its name). The bank consolidated and increased its banking activity during the 17th and 18th centuries. With the unification of Italy , the bank expanded its business throughout the Italian peninsula , initiating new activities, including mortgage loans , the first experience in Italy. It was still state-owned by the late 19th century. MPS was also involved in the bail-out of Cassa di Risparmio di Prato , becoming
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2304-406: The bank was 12%, mainly due to another capital increase during the year, which the European Central Bank required Banca MPS to have a minimum of 10.75% from 31 December 2016 onward, or 10.2% in the transitional period. Moreover, both the gross (34%) and net non-performing loan to total loan ratio (22%) were still higher than the Italian average (18.1% in gross and 10.8% in net at December 2015) and
2376-451: The bond of the bank to shares. On 29 July, the bank announced that the issue price of the new shares to the government was €6.49, with €8.65 for debt-to-equity shares. Stefania Bariatti replaced her predecessor as chairperson of MPS during December 2017. On 5 October 2018, BMPS announced the sale of its Belgian subsidiary, Banca Monte Paschi Belgio (BMPB), to a company participated in by funds managed by Warburg Pincus . The sale price
2448-535: The capital increase to be vaporized. The Tier 1 capital ratio of the bank was 8.7% as at 31 December 2014. On 6 July 2015, following the Greek bailout referendum , trading in Monte dei Paschi shares was suspended after they fell 5.7%. Eventually Banca MPS achieved a net profit of €388 million in 2015. but mainly due to the effect of the restatement as a CDS derivative of the Alexandria transaction. The CET1 capital ratio of
2520-480: The city and the province of Siena. On 25 June 1999, Banca Monte dei Paschi di Siena was listed successfully on the Italian Stock Exchange . After its debut on the Italian Stock Exchange , the bank began an intense phase of commercial and operational expansion. The bank acquired some regional banks: Banca Agricola Mantovana and Banca del Salento , while subsidiary Banca Toscana was absorbed. In 2003,
2592-461: The club had solid results, including two Serie A quarterfinals in 1997–98 and 1999–00 and two participations in the FIBA Korać Cup . In the summer of 2000, Banca Monte dei Paschi di Siena , a banking company based in the city, became the majority sponsor of the side. The club, now known as Montepaschi Siena, took a new dimension, first signing Italian international Roberto Chiacig and playing in
2664-403: The club's financial troubles making it impossible to pay the league's taxes and the wages. The exclusion was determined after various renounciatiouns by the team to play certain games and on the charges of "unsportsmanlike conduct", since its line-up altered the competitiveness of the league. Following the exclusion, the team was renamed as Mens Sana Siena Basketball Academy, after absorbing again
2736-521: The conclusion of this plan of expansion, the bank implemented a vast program of opening new branches of the Group, with more than 2,000 branches. In order to finance this expansion model, the bank entered into some derivatives that were hidden: operations Santorini in 2002 and Alexandria in 2006. On 8 November 2007, Monte dei Paschi di Siena announced that it had reached an agreement with Banco Santander to buy Banca Antonveneta for €9 billion excluding
2808-460: The control of Mens Sana's former satellite youth team; and enrolled for the 2019–20 Promozione Toscana, in the 7th tier of the Italian Basketball Federation . Such league was suspended due to the COVID-19 pandemic in Italy with Siena in the lead. On the 21st of August 2020, it was announced that Mens Sana Siena would be participating on the Group A of the Serie C silver, a regional league representing
2880-583: The controlling interests (79%) of Cassa di Risparmio di Prato was sold to Banca Popolare di Vicenza in March 2003 for €411.2 million. The bank had also started a process to reinforce the structures of production in strategic market segments through the development of product companies: At the same time, the bank upgraded its commercial productivity, with the aim of improving the level of assistance and consultancy to investors and businesses, and updated its activities in private banking and in private pension plans . At
2952-411: The course of the following year. After reaching the finals for a historic first time, Montepaschi Sienna won its first championship after winning all of its playoff games. Losing finalist Skipper Bologna's prior defeat of Benetton Treviso meant that Benetton, who had won the last two editions, did not compete in the final for only the second time in six years. The Italian Basketball Supercup opened
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3024-618: The court the holders kept fighting, pushing favourites Milan to seven games in the Serie A finals , though they would go on to concede the title. Soon after, Mens Sana Basket was declared bankrupt amidst debts of 5,4 million euros and the departure of sponsor Montepaschi even if the company had revenue for over 400 million Euro. Furthermore, an inquest had been started in 2012 after suspected undeclared payments and tax evasion by club officials for over 90 million Euro, including former president Ferdinando Minucci. On 25 October 2017, following an investigation for accounting and fiscal fraud, including
3096-412: The destruction of some of the company's accounts by the president Ferdinando Minucci, the Italian Basketball Federation revoked all the domestic titles won by the club during the 2011–12 and 2012–13 seasons, namely two Italian titles, two Italian Cups and an Italian Supercup. The Mens Sana multi-sports club then retook ownership of the basketball club, it was registered in the fourth division Serie B for
3168-446: The failure to issue €5 billion new shares, the swap offer and disposal of NPLs were voided. Although J.P. Morgan, Mediobanca, Banco Santander, Bank of America Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank and Goldman Sachs had signed a pre-underwriting agreement with BMPS in July. No banks and no anchor investor entered into contracts with BMPS. At 01:20am, on 23 December 2016,
3240-499: The holders rallied in the playoffs, winning two Best-of–7 series in game 7, against EA7 Emporio Armani Milano and Cimberio Varese before toppling Acea Roma 4–1 in the finals to add title number seven to the Cup they had earlier won. This title too was revoked three years later by the Italian Basketball Federation. The next season (2013–2014) saw an ever-contracting budget and a more ordinary roster, Montepaschi found it harder to compete in
3312-445: The league, Cup and Supercup titles. After adding Nikos Zisis , Marko Jarić , Malik Hairston and Bo McCalebb , Montepaschi reached another Euroleague Final Four in 2011 , overcoming then-top scorer McCalebb's injury and a record 48-point loss to Olympiacos in the quarterfinals game 1. However, they were again stopped in the semifinals, this time by champions Panathinaikos . In the league they proved unstoppable again, adding
3384-532: The losses accumulated by the Santorini and Alessandria operations in the period leading up to the derivative contracts range from €500 to €750 million. The documentation concerning these operations was never communicated to the bank's own auditors or the Banca d'Italia . The derivative contracts and related documentation were discovered and made public by the new board of the bank at the end of November 2012. The documentation
3456-416: The main challengers, with Air Avellino , Coop Nordest Trieste , Mabo Livorno and above all Sicilia Messina seen as the clubs fighting to avoid relegation. Montepaschi Sienna finished first in the league for the first time of their history, Skipper Bologna and Benetton Treviso finished equal on points in second place but Skipper was 2-0 in their direct confrontations and hence superseded Treviso. The title
3528-587: The major shareholder. In 1995, a decree of the Ministry of the Treasury of the Italian Republic dated 8 August 1995, gave rise to two institutions: Banca Monte dei Paschi di Siena S.p.A. and Fondazione Monte dei Paschi di Siena , a non-profit organization with the statutory purpose of providing assistance, charity and social utility in the fields of education, science, health and art, especially with reference to
3600-532: The midnight after the failed recapitalisation, BMPS requested a precautionary recapitalisation by the Italian Government in order to bail out the bank by excising Article 32(4) of EU Bank Recovery and Resolution Directive (The EU-wide banking resolution law, which restricted state aid to a mean of last resort). On 20 December the Italian Government had already raised €20 billion to set up a save-savings ( Italian : salva-risparmio ) fund in order to subscribe
3672-552: The newly opened PalaFiumara . The foreign All Stars beat Italy , bronze medalists at EuroBasket 2003 , 106-99 after coming back from behind 55-26 down to force an overtime. Maurice Evans was designated MVP whilst Michele Mian won the three point shootout. The Cup was contested between 25 February and 28 February in the PalaFiera (in Italian) in Forlì between the 8 best ranked teams of
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#17331043595133744-426: The previous year, Siena beat Brina Rieti 80–66 to reach the top tier Serie A for the first time. During the 1974–75 season, Sapori Siena finished fifth in the league thanks to a slow-paced style combined with zone defense as twin towers Carl Johnson and Enrico Bovone dominated the paint. In 1978–79, Antonini Siena reached the Serie A quarterfinals, earning a place in the 1979–80 FIBA Korać Cup where they went to
3816-640: The raising of capital until at least May 2014 and increasing the risk of nationalization. In November 2019, after a three-year trial, 13 former bank executives received prison sentences. The Monte dei Paschi ex-chairman and CEO received seven years each; two senior executives five and four years. Three bankers from Deutsche Bank received five years and two from Nomura received five and three years. The court decided that they had conspired to hide Monte dei Pasche's losses of €2bn between 2008 and 2012 by using complicated derivative contracts. Deutsche Bank and Nomura were fined €160m; Monte dei Paschi had paid €10.6m after
3888-539: The replacement of the previous Tremonti bonds. The delegation of the extraordinary powers to the Board of Directors has also included the possibility of increasing the share capital of €2 billion at the exclusive service of the payment of interest payable in shares. The shareholders approved with a 98% vote in favour. After the vote, the bank recovered 11.36% on the stock exchange after having lost more than 20% of its value in three sessions in three days. On 26 January 2013
3960-455: The roster was overhauled. Montepaschi went to the quarterfinals of the 2006–07 ULEB Cup (Europe's second-tier competition) before losing to UNICS . More importantly, a team led by Rimantas Kaukėnas , Joseph Forte and Terrell McIntyre won 39 of the 44 games they played in the Serie A season (with a 3–0 finals sweep) to earn their second league title. With the return of Thornton and the addition of Kšyštof Lavrinovič , Montepaschi reached
4032-537: The same Bologna side had impeded their second Euroleague Final Four run, beating Montepaschi 103–102 in overtime. The next two seasons put a brake on that success, with the sole addition of the Italian Supercup amidst two quarterfinal eliminations in the league and one Top 16 appearance in the Euroleague. Siena native and long serving club member Simone Pianigiani was promoted to the head coach role in 2006 whilst
4104-547: The season on September 27, 2003 in the PalaVerde in Treviso , it pitted reigning champions and 2002-03 cup holders Benetton Treviso against Oregon Scientific Cantù , finalists in the previous year's cup. Cantù upset Benetton 85-79 to win its first trophy in 12 years, with Nate Johnson named MVP for his first game in Italy. The All Star Game was played in Genoa on December 13, 2004 in
4176-564: The start of play, in August 2003, Virtus Bologna were excluded from the league due to financial irregularities (namely unpaid wages), they were replaced by Sicilia Messina , the losing finalist of the preceding year's Legadue, a proposal to expand the league to 20 clubs and thus include both clubs was not approved. Reigning champions Benetton Treviso were seen as the favourites to retain their title, teams Lottomatica Roma , Scavolini Pesaro , Montepaschi Siena and Skipper Bologna were seen as
4248-452: The state aid of the bank. On 5 July, the industrial plan of the bank was approved, which the bank would be re-capitalized for €8.1 billion, but only €3.9 billion would be underwritten by the Ministry of Economy and Finance (excluding additional shares that would be buyback from retail bondholders by the government), with the rest were the "bail-in" of bondholders, mandatorily converted
4320-484: The state guarantee from the aforementioned government fund. The bank said the bond would be sold to the market or used as a collateral in borrowing process. On 3 February 2017 BMPS sold its card business to Istituto Centrale delle Banche Popolari Italiane (ICBPI) for €520 million. Other leading banks of Italy, such as Intesa Sanpaolo and UniCredit had already sold their division in 2016. On 9 February 2017 BMPS announced their 2016 financial results subject to
4392-483: The stock exchange that day, and another 8% the next day. On 25 January 2013, an extraordinary general meeting of the shareholders of the bank was convened. They resolved to grant the Board of Directors the power to increase the share capital by a maximum amount of €4.5 billion to service the exercise of conversion rights of the bank of the Monti bonds. MPS called for an intervention of €3.9 billion, including €1.9 billion for
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#17331043595134464-665: The subsidiary Interbanca that is owned by the Spanish bank. Antonveneta is the bank that after the Bancopoli scandal was acquired by ABN AMRO and was supposed to go to Banco Santander after the purchase of the Dutch bank by the consortium of RBS , Santander , Fortis . From February 2007 to June 2008 Banca MPS sold all the shares (27.839%) in Finsoe , an intermediate holding company of Unipol Group, for €584.8 million. In 2008, Quadrifoglio Vita ,
4536-422: Was bailed out again by the Italian government in July 2017. In 2020, BMPS had approximately 1,400 branches, 21,000 employees and 3.9 million customers in Italy, as well as branches and businesses abroad. A subsidiary, MPS Capital Services , handles corporate and investment banking. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as
4608-520: Was established in 1934. However, the club and the organisation as a whole had limited activities until the end of the Second World War in 1945. After that date, basketball was played again, at first by students from the Piccolomini high school. On 5 March 1967, Mens Sana played against city rival Costone for a place in the second division Serie B , with the former winning 64–63. In 1973, having lost
4680-569: Was expected to reduce the gross NPLs ratio to 17.8%, on par with Italian average but still higher than many European peers. In December 2016, the disposal plan was modified: a senior mezzanine tranche (for €1.171 billion) was added—to be underwritten by the bank itself. In September 2016, CEO Fabrizio Viola and chairman Massimo Tononi resigned. They were replaced by Marco Morelli and Alessandro Falciai , respectively. On 28 November 2016, every 100 BMPS shares were converted into one new BMPS share and, on 2 December 2016, AXA and BMPS announced
4752-522: Was first practiced by the club in May 1907 when – at the Venice Gymnastics competition – teacher Ida Nomi Pesciolini led a women's team in a basketball demonstration. It's claimed this was the first time the game – invented in 1891 – was played in Italy, with Nomi discovering the sport whilst in the United Kingdom and then translating the rules in Italian. The official basketball section of the club
4824-426: Was given two weeks to prepare a plan to raise €2.11 billion in capital. Despite issuing €5 billion in shares just four months earlier, the ECB declared the bank unable to withstand a financial catastrophe. Shares proceeded to drop 22%. In November, 2014, the bank reported a loss of €1.1497 billion in the 3rd quarter of the year. Eventually in 2014 financial year, the bank had a net loss of €5.3429 billion, resulting in
4896-436: Was one of the zombie banks or not. On 23 June a gross value of €290 million bad loan portfolio was disposed of without recourse to Kruk Group. On 4 July the bank confirmed that a request of reducing non-performing loans from European Central Bank was received. In 2015 the bank had €46.9 billion NPLs in gross and €24.2 billion in net. The bank targeted to reduce the gross NPLs to total loans ratio to 20% in 2018. However, this
4968-530: Was set at €42 million, subject to an adjustment mechanism. Between 2018 and 2020 the bank made 49.8% of its pre-tax profits in tax havens . On 20 November 2023, the Italian government sold a 25% stake in MPS, thus partially privatising the bank and reducing the government's stake from 64% to 39%. After a €178mn loss in 2022, MPS returned to full-year profit with record earnings of just over €2bn for 2023. In February 2024, MPS paid its first dividend since 2010, returning €315mn to shareholders. On 27 March 2024,
5040-404: Was still higher than the Italian average at 31 December 2015. On 29 July 2016, 2016 European Union bank stress test was announced. Among the 51 banks in the test, BMPS was the only bank that CET1 ratio (in full Basel III basis) was forecast as negative in the adverse scenario in 2018. If setting CET1 Ratio and Total Capital Ratio (fully loaded basis) targets at 8% and 11.5% respectively even in
5112-476: Was strongly expected to be disputed between these three teams. At the other end of the standings, late promotee Sicilia Messina predictably struggled on the court - a relegation confirmed in the penultimate round seen as an achievement - and off the court, with financial problems and a perceived disinterest by the public. The other relegated team Coop Nordest Trieste also struggled financially (along with some other Serie A teams), both would declare bankruptcy in
5184-442: Was then forwarded to the Banca d'Italia between December 2012 and mid-January 2013. The shareholders and the analysts have ascertained that the bank had not declared losses from derivatives. On 22 January 2013, the bank's shares lost 5.6% on the stock exchange and Mussari resigned as president of Associazione Bancaria Italiana . On 23 January 2013, the scandal of the hidden derivatives was revealed. The bank's shares dropped 8.43% on
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