The world's oldest bank Banca Monte dei Paschi di Siena SpA has announced encouraging levels of capital. The Italian banking major's common equity Tier-I ratio is up at 11.7 percent by the end of September from 10.7 percent in June.
The intention of Monte dei Paschi di Siena's largest shareholder to postpone the planned cash call until the middle of next year has irked Profumo and chief executive officer Fabrizio Viola.
Monte dei Paschi di Siena's board has opposed a proposal by its top investor to push back a €3 billion cash call to May next year. Monte Paschi's largest shareholder earlier threatened to vote against the impeding capital increase.