Customers of an Italian bank have seen deposits fall by “a few billion euros” after a scandal in February, the bank announced Saturday.
According to Reuters, Monte dei Paschi bank reported a yearly loss of 3.2 billion euros ($4.1 billion) – a higher-than-expected net loss for 2012 – after loss-making derivatives trades at the lender amounting to 730 million euros. Bad loans also contributed to the loss. Continue reading “Cyprus money woes, Italian bank’s $4.1B loss bring new fears about Europe finances”