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Massimiliano Belingheri, CEO of Bff Bank
Bff collapses on the stock market
Bff Bank opened down more than 30% after yesterday’s Bank of Italy has ordered the temporary suspension of the distribution of profits, or other elements of assets, by Bff Banking Groupfollowing the outcome of the inspection conducted on the institution regarding its management of public credits.
Doing the math, compared to the previous closing of 12.01 euros per share. At the moment, the current share price of 7.41 euros translates into over 860 million euros burned in a few hours, going from a capitalization of 2.52 billion to 1.39 billion euros.