What does BMPS mean in Management?

BMPs

Banca Monte dei Paschi di Siena S.p.A. (Italian pronunciation: [ˈbaŋka ˈmonte dei ˈpaski di ˈsjɛːna]), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 (550 years ago) and established in its present form in 1624 (399 years ago), it is the world's oldest or second oldest bank, depending on the definition, and the fifth largest Italian commercial and retail bank.In 1995, the bank (then known as Monte dei Paschi di Siena) was transformed from a statutory corporation to a limited company called Banca Monte dei Paschi di Siena (Banca MPS). The Fondazione Monte dei Paschi di Siena was created to continue the charitable functions of the bank and to be, until the bailout in 2013, its largest single shareholder. According to research by Mediobanca and a press release issued by Banco BPM, Banco BPM overtook BMPS as the third largest commercial banking group in Italy (in terms of total assets) on 31 December 2016, after Banco BPM's formal formation on 1 January 2017. In 2016–17, BMPS was struggling to avoid a collapse, and it was bailed out again by the Italian government in July 2017. On 5 October 2018, BMPS announced the sale of its Belgian subsidiary, Banca Monte Paschi Belgio (BMPB), to a company participated in by funds managed by Warburg Pincus. The sale price was set at €42 million, subject to an adjustment mechanism. In 2020, BMPS had approximately 1,400 branches, 21,000 employees and 3.9 million customers in Italy, as well as branches and businesses abroad. A subsidiary, MPS Capital Services, handles corporate and investment banking.

see more »