Portugal 
Spain 
Greece 
Popolare di Bari, a salary-backed loans portfolio to ViViBanca
10 January, Milano Finanza
Banca Popolare di Bari has transferred to ViViBanca, a new financial institution specialised in consumer credit through the issuance of loans upon deduction of one-fifth of the salary or of the pension and in online collection on the retail market, a portfolio of about 6 thousand finance contracts for a nominal value of 82 million euro.
The purchase with no recourse of the credits has been authorized by Banca d’Italia and it’s included in the strategy of ViViBanca aimed at strengthening its position in the market reaching almost 5% of stocks and assets equal to 225 million euro at the end of 2017. ViViBanca has been assisted in the operation by the legal firm La Scala.
“This is an important step for ViViBanca, the goal was achieved in the first year of activity of the company, after having met the collection target of 130 million, as well as the assets target of 225 million, set at the beginning of the year”, declared the Vice General Director Antonio Dominici. “This operation will make possible to grow further in the managed stock for external lines and it’s aligned with the development path started by the bank with the objective of reaching 400 million euro by 2020”.
Source: Milano Finanza
Translator: Cristina Ambrosi