Banca IFIS has announced that it has completed the transaction relating to the non-performing loans sector. The institute has purchased a portfolio of non-performing loans on the secondary market put up for sale by a securitization company whose primary investor is a US fund for a nominal value sold of approximately €1,4 billion, corresponding to 180.000 positions.
The portfolio is made up of personal loans (47%), targeted loans (29%) and credit cards (24%), with an average ticket that varies between 5.000 and 30.000 euros.
The proprietary portfolio of Banca IFIS thus exceeds 9 billion euro for a total of over 1 million positions.
"We had expressed our willingness to bring forward to the end of 2015 the achievement of one million positions relating to non-performing loans, an objective that we have achieved with this operation" declared Giovanni Bossi, Chief Executive Officer of Banca IFIS. "This is the most significant transaction, in terms of volumes, in the history of Banca IFIS, which entered the NPL market only four years ago and is today the leader in the unsecured sector on the Italian market".
