Banca IFIS concluded two transactions to purchase loan portfolios for a total nominal value of approximately 573 million euro.
The first agreement, concluded with a leading international investment bank, concerns a portfolio made up of over 3.500 positions for a nominal value of approximately 413 million euro and includes secured (48% of the nominal value) and unsecured bank loans deriving from overdrafts current account, mortgage or personal loans for individuals and small businesses. In more detail, the portfolio is made up of 62% of corporate loans and the remainder of retail loans.
The second agreement relates to the purchase of a portfolio of over 13.000 positions, sold by an international banking group, for a nominal value of approximately 160 million euro. As regards the type of credit purchased, these are mainly unsecured consumer credit.
“We are pleased to have completed these new transactions – said Andrea Clamer, head of Banca IFIS's NPL Area – “which testify to the bank's willingness to further develop the NPL business. In fact, we are implementing some operational management innovations within the broader planning of the bank and we are certain that with these portfolios we will continue to create value, thus confirming the focus on the profitability of operations, associated with correct management of capital absorption and liquid assets".
The total NPL loans managed by Banca IFIS as at 28 February 2017 amounted to approximately 9.9 billion euro and included approximately 1 million and 400 thousand positions.
