(Visited 85 times, 1 visits today)
(Visited 85 times, 1 visits today)
  • Transaction / Assets
    unsecured NPL portfolio
  • Seller
  • Buyer
    Banca Ifis
  • € MM

Banca Ifis: three NPL transactions concluded in the first quarter

10 April, Monitor Immobiliare

Banca Ifis has completed three operations concerning NPLs in the first quarter of 2018. Its NPL division has signed a 12-month agreement for the purchase of the new unsecured non-performing loans generated in a year by one of the leading Italian consumer credit companies. The credits will be transferred on a quarterly basis, according to the forward flow modality.

The first tranche of these credits was transferred in March for a nominal value of 35 million. Furthermore, the operation concerning the funding of an NPL portfolio mainly secured coming from a leading Italian bank was concluded and the credits were acquired by a Cerberus Capital Management affiliated company.

In this case, Banca Ifis operated as the creditor for the purchase of the portfolio with an investment of approximately 40 million. Always in March, the company has successfully completed the transfer of some consumer credit portfolios for a nominal value of approximately 40 million.

At the end of March, Banca Ifis had holdings for 1.5 million, corresponding approximately to a nominal value of 13 billion, while registering an income for 38 million, against the 31 million for the same period of the previous year.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

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