CEO of troubled Italian bank resigns

The CEO of troubled Italian bank BMPS, Fabrizio Viola, resigned Thursday, six weeks after unveiling plans to reverse its ailing fortunes, the bank said.

The plan drawn up by Banca Monte dei Paschi di Siena’s (BMPS) board of directors included the offloading of 9.2 billion euros ($10.3 billion) of non-performing assets which had threatened to overwhelm the world’s oldest lender, founded in 1472, as well as a capital increase of five billion euros.

The tests showed it as the only one of 51 banks examined to end up with a negative measure.

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