Banca Popolare di Bari has sold to ViViBanca, a new institution specializing in household credit through the granting of salary-backed loans and online funding on the retail market, a portfolio of around 6 salary-backed loan agreements salary and pension with a nominal value of 82 million euros.
The purchase without recourse of the credit package, authorized by the Bank of Italy, is part of the broader strategy of ViViBanca aimed at strengthening its position on the market, reaching approximately 5% of the stock and loans which as at 31 December 2017 were amounted to approximately 225 million Euros.
"For ViViBanca this is another important milestone achieved in the first year of activity, after hitting the funding (130 million) and lending (225 million) targets set at the beginning of the year" said Antonio Dominici, Acting Deputy General Manager of ViViBanca SpA.
"This transaction will ensure further growth in assets managed through external lines - added Dominici - and is in line with the development path undertaken by the bank which expects to reach 400 million Euros of production by 2020".
In the acquisition operation, ViViBanca was assisted by the La Scala law firm.
