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(Visited 89 times, 1 visits today)
  • Transaction / Assets
    two NPL portfolios
  • Seller
    NA
  • Buyer
    Banca Ifis
  • € MM
    197

Banca IFIS acquires NPLs for over 197 million euro

22 December, Teleborsa

Banca Ifis has announced the closing of two operations in the Italian Non-performing loans (NPL) market for a total nominal value of 197 million euro, bringing to 19 the number of deals closed in the NPL sector in 2017.

The first portfolio, for a nominal value of about 143 million euro and corresponding to 17,000 positions, was transferred to Banca Ifis by an Italian leading company in the consumer credit sector. The portfolio is mainly composed of retail unsecured credits (more in detail, 79% consumer credit and credit cards for the remainder).

The second transaction has been closed with a primary Italian banking group and it concerns the acquisition of a mixed portfolio (corporate and retail) for a value of approximately 55 million euro (nominal value), 30 million of which is secured.

With these two operations, the total credits managed by Banca Ifis in the bad loans market amounts at the end of 2017 to 13 billion euro, with positions risen over 1.5 million euro, and about 5 billion euro total purchases estimated for 2017. Banca Ifis has also communicated the creation of Ifis NPL, a company dedicated to non-performing loans.

Source: Teleborsa

Translator: Cristina Ambrosi