Monte dei Paschi profit falls, raises bad loan provisions
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MILAN (Reuters) - Monte dei Paschi di Siena on Thursday reported an 85 percent drop in first-quarter net profit, hit by shrinking revenues and bigger writedowns on problem loans due to Italy's weak economic outlook.Monte dei Paschi was bailed out by the state in 2017 and CEO Marco Morelli is working to turn the bank around to comply with restructuring commitments agreed with European Union competition authorities and make it attractive for a potential buyer. The bank said it had booked 37..