The Pak Banker - - FRONT PAGE -

Trou­bled Ital­ian bank Monte dei Paschi di Siena is ready for a tie-up with another len­der, out­go­ing Chair­man Alessan­dro Pro­fumo told media to­day. "The bank must merge and it is ready for it," Pro­fumo said in an in­ter­view with RaiNews 24, with­out elab­o­rat­ing. Monte dei Paschi has al­ready said that Pro­fumo would quit af­ter a board meet­ing sched­uled for Thurs­day, which is due to ap­prove first-half re­sults. The bank's main share­hold­ers have in­di­cated that the head of Italy's stock ex­change, Mas­simo Tononi, will suc­ceed Pro­fumo.

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