Record losses by Italy's six biggest banks in 2011. In 2011, the six biggest banks in Italy accumulated losses totalling nearly €25 billion. Unicredit made record losses of €2.9 billion, closely followed by Intesa SanPaolo (€8.2bn), then Monte dei Paschi di Siena (€2.7bn), Banco Popolare (€2.5bn), UBI Banca (€1.8bn) and BPM (€640 million). Across the board, Italy's banks have been finding it difficult to deleverage in order to start 2012 on a good footing. The bad debt...