The Italian Prime Minister dismissed suggestions that he might be concerned for beleaguered lender Banca Monte dei Paschi (BMDPF)  over the weekend.

Speaking on the sideline of an event in Italy, the Mediterranean leader's comments came just days after Monte dei Paschi's CEO told interviewers that the investigation of himself and the company's former chairman is merely a formality.

The Tuscan bank has been under investigation for false accounting since the beginning of 2015, although accusations of foul play date back to its ill-fated acquisition of Banca Antonveneta in 2007.

It is accused by private shareholders of having used two derivatives transactions in order to disguise losses stemming from the acquisition.

The bank refuted the accusations in a statement on Friday, saying that has acted correctly at all times, while reiterating that the transactions in question were entered into under the premiership of a past management regime.

Questions seeking insight surrounding the Prime Minister Matteo Renzi's level of concern for the lender are reported to have drawn a cool response, "I'm not worried at all."

This is while CEO Fabrizio Viola is reported to have said, "I really don't think this probe will be going anywhere."

Nevertheless, the questions are pertinent as recent allegations and adverse publicity comes at what is a crucial time for the bank.

Monte dei Paschi is attempting to effect its third bailout in just as many years, although this time the rescue is coming from the private sector after European Union rules relating to the rescue of banks, which came into effect in January, made the political costs of a state rescue prohibitive.

Under the terms of the agreement, the struggling lender will offload its entire non-performing loan portfolio to specialist investors, for which it will receive close to €10 billion ($13 billion). Subject to the successful sale of its NPL portfolio, it will then be able to make a €5 billion equity cash call to institutional investors.

Monte dei Paschi shares rose by as much as 0.7% during the early hours of the European session, trading as high as €0.2315. They are down more than 80% since year to date after having fallen from January's €1.23 level.