Troubled Italian bank BMPS reports 2016 net loss of 3.38bn euros
The venerable Italian bank BMPS, which is due to be bailed out by the state, on Thursday announced a net loss of 3.38 billion euros ($3.6 billion) for 2016, far worse than analysts had expected.
Market forecasters had expected a loss of around two billion euros, according to a consensus of analysts compiled by Factset Estimates.