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Banca IFIS buys 450 million Euro of NPLs

Inside information

Milan, 5 April 2016 – The purchasing activity of Banca IFIS in the consumer credit sector of NPLs has continued also in the first quarter of 2016. The bank has acquired, in two separate transactions, receivables with a total nominal value of about 450 million euro, which corresponds to approximately 50,000 positions.

The first transaction relates to a portfolio of a total nominal value of over 240 million euro, which was disposed of by Deutsche Bank S.p.A. corresponding to more than 35,000 positions, mainly consisting of personal loans, with an average ticket of about 7 thousand euro.

The second transaction was finalized with a company active in factoring and NPL management and relates to a portfolio with a nominal value of more than 208 million euro, consisting of more than 13,000 positions, mainly related to personal loans. The average ticket is about 15,000 euro.

“We start 2016 with two transactions that give continuity to the purchasing trend of 2015” stated Andrea Clamer, Head of Banca IFIS Area NPL. “Our commitment in this business is dedicated to creating value for both Banca IFIS and the counterparties with whom we relate every day: the banks and the vendor companies and, above all, families in financial difficulty to whom we provide ethical and sustainable support”.