BFF Crisis Deepens as Stock Hits Record Low on Bank Probe

BFF Bank SpA’s efforts to rebuild investor confidence suffered a setback after the Italian lender said that it has been under investigation by prosecutors in Milan for more than two years.

The probe began at the end of 2023 and remains at the investigative stage, the bank said in a statement on Monday, after Italian daily Milano Today reported that authorities were examining the accuracy of its financial statements. The stock slumped to the lowest on record.