Bank Ifis initiated a due diligence to create an alliance with Ibl Bank. The first institute communicates it in a note, specifying that the objective of the possible partnership is "the recovery of Npl loans through the disbursement of salary-backed loans".
Banca Ifis, in fact, specializes in the purchase and management of unsecured Npl, while Ibl Banca is particularly active in the salary-backed loan market. Any agreement aims to "offer debtors a new method of repaying non-performing loans, through the voluntary transfer of one-fifth of salary", continues the note.
This method of recovery "would allow debtors to immediately return to the world of performing credit with the possibility of also drawing on new finance - the institute explains - and for Banca Ifis to reduce the recovery times for non-performing credits".
In detail, Ibl Banca could enter the share capital of Capitalfin, a financial intermediation company acquired by Banca Ifis in 2018 and now 100% controlled. At that point, Ibl "would make its physical and virtual network available to Banca Ifis and Capitalfin, in addition to its experience in the segment of salary-backed loans".
If the due diligence is successful, "the discussions aimed at activating the partnership as early as January 2021 will continue", concludes the note.
