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Banca Ifis aiming at the NPL of San Marino

01 December, Monitor Immobiliare

Cerberus, Banca Ifis and a third investor are the candidates for a 2-billion-euro portfolio that Cassa di Risparmio di San Marino and other major Italian banks have put on sale after the settlement of the group Delta.

According to Milano Finanza, the binding offers should come from the advisor EY by mid-January. The project Arkade has started a few months ago in order to get rid of the bad loans of the consumer credit group put under supervision since 2009.

The stock is mainly composed of performing loans, rather than non-performing, and it has been put on the market by the credit collection company Delta, a vehicle company participated by the main Italian banks. Among these, there are Unicredit, Mps, Bper Banca, Banco Bpm, Bnl, Bpvi, and Cassa di risparmio di San Marino. While the credits come from the several subsidiaries of the former Delta, such as Carifin Italia, Plusvalore, Detto Factor, and others.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi