Banca IFIS purchases NPLs worth 630 million euro from Santander Consumer Bank S.p.A. and a main international fund

SDIR: IROS13

Inside information

Banca IFIS’s portfolio has reached a total value of 7.4 billion euro for over 960,000 positions

Mestre (Venice), August 4, 2015 – Continuing growth of Banca IFIS in the Italian market of the Non-Performing Loans in the unsecured consumer sector.

The Bank purchased two NPLs portfolios sold by Santander Consumer Bank S.p.A. and a main international fund. The total assigned value of the two deals is 630 million euro, consisting of 68,500 positions.

The portfolio purchased from Santander Consumer Bank S.p.A. consists of 18,500 positions for an assigned value of about 230 million euro with assets relating to personal loans (73%) and targeted loans (23%). The average ticket goes from 5,000 to 30.000 euro. Competing with Banca IFIS in this bidding processes were other 50 major national and international players in the NPL sector (banks, investment funds and asset management companies).
The second portfolio consists of 50,000 positions for an assigned value of about 400 million euro. The composition is split in this way: 46% personal loans; 30% targeted loans; 24% credit card loans. The average ticket goes from 5,000 to 30,000 euro. This agreement represents one of the first deals in the secondary market of NPLs in Italy.

After these purchases, Banca IFIS’s portfolio has reached over 960,000 positions for a total value of 7.4 billion euro.

These completed acquisitions reaffirm the leading role that Banca IFIS plays in the Italian NPL market.

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