Italian Specialist Lender BFF Tumbles After Central Bank Probe
- Specialty lender’s shares fell most on record on Friday
- Inspection questioned credit classification, governance
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BFF Bank SpA was ordered by regulators to halt payouts and review its governance, sending the Italian specialty lender’s stock down by the most on record.
The Italian company said on Thursday it suspended profit distributions after the Bank of Italy shared the results of its probe on April 29. While the firm sought to play down the impact stemming from a review of the risk profile of its credits, investors and analysts were left stunned.