Banca IFIS (Milan IF.IM; Market cap: €1.4bn – 30/09/2018)
Operating in the business loan, distressed loan and tax credit sectors, the Banca IFIS Group (Fitch, BB+, outlook stable) has a solid, sustainable and diversified business model that allows it to achieve profitable results that continue to grow. Its operations concentrate on the Italian market, operating throughout the country without traditional bank tellers. Founded in 1983 by Sebastien Egon Furstenberg, the current Chairman, Banca IFIS has been listed on the Milan stock exchange since 2003 (Star segment), with market capitalisation of around € 1.4 billion in September 2018.
In 2016, the Bank acquired the former GE Capital Interbanca Group—a historic Italian financial institution operating in the corporate lending, factoring, and leasing sectors—from GE Capital, which was made again profitable six months after the acquisition. In 2018, Banca IFIS finalised the acquisition of Cap.Ital.Fin. S.p.A, which specialises in salary- or pension-backed loans, and of the 70% of Credifarma SpA, a financial resource point for pharmacies since 1987, conceived from an idea of Federfarma as well as announced an additional transaction that will cause FBS S.p.A (Italy’s fourth-largest servicer in the management and transformation of non-performing loans) to be included in the Banca IFIS Group’s scope. As for retail funding, Banca IFIS successfully launched the high-yield online savings account rendimax in 2008 and started broadening its institutional funding structure in 2017.
In 2018 Banca IFIS decided to expand the rendimax family by entering into the insurance world and thus developed a solution – rendimax assicurazioni – aimed at distributing selected insurance products, with a dual objective: innovation and customer service. With this in mind, YOLO was identified as a partner from the insurtech world, with whom Banca IFIS collaborated in the development of technology, in the search and distribution of insurance products. Innovation means researching and proposing new solutions such as pay per use, protecting customers only when they actually need the specific insurance solution; customer service means building solutions that protect and being present in times of need.
As of January 2019 Banca IFIS takes control of 90% of FBS SpA, an organization that operates in the NPL sector as an operator specialized in servicing activities. This operation marks the first integrated investment and asset management platform in the Italian NPL market, capable of offering a turnkey service – whether management or investment service only, or a mix of the two – in all the categories of impaired loans, from the most fragmented unsecured consumer loans up to real estate, transitioning to corporate.
We are convinced that only a bank that is beneficial to the economy in which it operates, whilst, at the same time, knows how to obtain the right amount of profit from its actions, has the dignity to look forward and plan its future. What is fundamental in the way we operate are the three pillars we base our work and all our business lines on: control of risk-corrected profitability, of liquidity and of absorbed capital.
Making the most of the Bank's capital and liquidity to allow businesses and households, even in difficulty, to optimize their financial resources. Becoming the benchmark in Italy in providing financial support to micro, small and medium-sized Italian companies, also on an international level. Allow to the highest possible number of debtors to return to being financially credible. Giving value to the savings of individuals and companies thanks to transparent and reliable proposals.
to deal with the market changes and respond promptly.
Improve the quality of services through the use of new technologies.
Build trust relationships to maintain a constant dialogue with customers.
Promote a new "doing" culture to meet the challenges of the global market.
Think of unique services for its customers and their business needs.
Being a Bank
that supports the real economy of the country.
Work in serenity,
having safe products
and high yield.
Employees*at September 30, 2018
Branches*at June 30, 2018
NET PROFIT*at September 30, 2018
Financed SMEs*at June 30, 2018