The inclusion of the Sienese bank on the blacklist of listed companies, which requires monthly disclosures, dates back to April 22, 2021, and was motivated by the presence in the auditors' report on the 2020 financial statements of the disclosure call on significant uncertainties about the company's ability to continue as a going concern, a Consob note said.

It had also exceeded the capital loss limit provided for in Article 2446 of the Civil Code.

Last Jan. 3, the note continued, the bank requested that the disclosure requirement be lifted in light of the successful completion of the 2.5 billion capital increase carried out last fall, which repaired the institution's financial stress.

Consob "in lieu of supplementary disclosure requirements on a monthly basis (...) requested the company to continue to provide on a quarterly basis" information on the status of implementation of the industrial and financial plan.

"In fact, it considers it necessary to continue to provide the market with an updated information framework regarding the state of implementation of the industrial plan, the realization of which is also relevant for the purposes of the commitments made to the European Commission," Consob stressed.

Around 3:40 p.m. Mps rises 1.8 percent on the stock market among banks all very strong on the heels of Unicredit's +10.7 percent after its 2022 accounts.

(Claudia Cristoferi, editing Gianluca Semeraro)