"Banca Ifis specifies that none of the loans attributable to the proprietary NPL portfolio have been disbursed after 14 March 2018. The impact of the new legislation with reference to the date of application is therefore null". This is what is underlined in a note released by the Veneto bank "with reference to the agency news published in which it is stated that the new rules relating to the treatment and provisions on non-performing loans will apply only to new loans disbursed from 14 March 2018".
Furthermore – continues the press release – “Banca Ifis is right to believe that the new regulation will apply to originated and non-originated loans also to loan portfolios acquired from a bank that carries out the business of purchasing, managing and recovering non-performing loans within of a consolidated strategic plan and with operations carried out at market conditions".
Therefore, Banca Ifis explains that "in no way can the new legislation affect the operations of its NPL area, dedicated to the purchase, management and recovery of portfolios of non-performing loans originating from other financial institutions".
