(Visited 196 times, 1 visits today)
(Visited 196 times, 1 visits today)

Jp Morgan, Bank of America e Db competing for the Italian credits of Commerzbank

27 January, Il Sole 24 Ore

The transfer by the German group Commerzbank of a portfolio of significant dimensions, consisting mostly in non-performing loans backed by real estate, is almost at the end. The process started a couple of months ago and was named Borromini project. The portfolio is valued about 250 million.

The offers are expected by next week and among the competitors, there are both investment funds and the divisions of banks specialised in the purchase of credits. More in detail, according to the rumours, some of the names are Deutsche Bank, Jp Morgan and Bank of America-Merrill Lynch.

Already in the past few months, the German bank, dealing with its European credit portfolios, transferred a portfolio of mixed credits of 400 million with the project Arona. After all, this sort of optimization process is a trend that has concerned lately several international banks operating in Italy. The Austrian Hypo Group Alpe Adria too, with its Terzo project, sold a 900 million portfolio of mixed credits. Before that, the British Barclays restructured its credit portfolios.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi