iStockPhoto The ECB told Monte dei Paschi that its capital shortfall was €8.8 billion ($ 9.19 billion), far higher than the €5 billion expected
iStockPhoto The bank needs to raise about €5 billion ($ 5.23 billion) in fresh capital by the end of the year to stay afloat.
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iStockPhoto The bank plans to cut personnel costs by 9%, accelerate investment in digital banking and place greater focus on its retail and small-business