BFF Drops After Bank of Italy Suspends Dividends Amid Probe
BFF Bank SpA plunged the most in two years after the Bank of Italy ordered a temporary halt on “profit distribution” and expansion abroad as a result of a probe into the Italian specialty finance company.
The firm received requests from the central bank on April 29, after a Bank of Italy inspection questioned the classification of the bank’s credit exposure toward state bodies, the lender’s governance and its corporate compensation practices, according to a statement on Thursday.