02 April, Bebeez
In a recent note sent to its shareholders, Illimity reassures about the impact of the pandemic on the business. Concerning distressed credits, the bank clarified that the existing portfolio had been valued according to the judicial evaluation criteria, meaning that the underlying assets had been valued at prices significantly lower than the market prices (-50% on average). Regarding the distressed assets, Illimity continues its investment activity with a minimal impact on the profitability of the division.
Translator: Cristina Ambrosi