reported a 21 percent increase in net profits for its third
quarter.
The leasing and factoring arm of Monte dei Paschi di Siena,
Italy’s oldest bank, reported third-quarter profits of around €18
million and increased its leasing market share by 130 base points
compared with last year.
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The production of leasing contracts increased around 20 percent,
with 7,317 contracts and a total value of €1.3 billion.
The results, which include the performance of MPS Commerciale
Leasing, part of the Siena-based group, also showed a €4.4 billion
turnover in its factoring activities, up by more than 17 percent on
last year.
MPS Leasing and Factoring was created in 2001 and is totally
owned by Monte dei Paschi di Siena, which was founded in 1472 and
is among the top five banks in the Italian market.
Its leasing arm was ranked seventh in 2008 by value of contracts
by leasing association Assilea.
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