The operational phase of the reorganization of Npl activities. Banca IFIS announces it in a note.
In detail, Fbs, the company specializing in the management and recovery of mortgage credits (in particular residential and commercial mortgages, and unsecured credits in Italy) becomes IFIS Npl Servicing, while Fbs Real Estate – the subsidiary of FBS Spa that deals with real estate activities – changes its name, becoming Ifis Real Estate. The change of name of the two companies, acquired by Banca Ifis on 30 October 2019, represents "another step in the corporate integration and reorganization process of the entire Non Performing Loans structure", explains IFIS in a note.
In the strategic plan, the company has in fact established the creation of a vertical supply chain that will guarantee the separation between credit purchase activities and management and recovery activities.
According to the timetable established by the company, by the end of 2020 after completing the authorization process, the group's activities dealing with non-performing loans will be divided into two different companies: IFIS Npl Investing and IFIS Npl Servicing. The first will deal with the acquisition of the portfolios and will be controlled directly by Banca IFIS while the second, which will be entrusted with management and recovery activities, will be controlled by IFIS Npl Investing and in turn will control IFIS Real Estate.
"The organizational and corporate redesign that we are carrying out - explains Francesco De Marco, general manager of IFIS Npl Servicing - will allow us to consolidate the distinctive skills of our Group in the field of non-performing loans, generating greater revenue synergies and improved operational efficiency" .
The objective is twofold - continues the manager - on the one hand, to optimize the performance of the portfolios purchased by the group and, on the other, to further develop the credit management and recovery activity on behalf of third parties, laying the foundations for a business model also open to the possible participation of other investors”.
