05/01/2022
09:33

Banca Ifis confirms its position as market leader in unsecured NPLs. NPLs acquired worth 3,7 billion Euro in 2021

SDIR: REGEM
    • Market share in the reference asset class grows to 52% (34% in 2020)
    • The stock of loans under management rises to 24,5 billion Euro
    • More than 2,1 million positions being processed by a team of professionals for real support to families and financial re-inclusion of clients
    • More than 60 thousand customer assistance calls per year in complete compliance with the Group’s values: ethics, dialogue and transparency

Milan, 5 January 2022 – Banca Ifis exceeds estimates and closes 2021 with over 3,7 billion Euro in purchases of non-performing loans confirming its position as market leader in small ticket unsecured positions. In actual fact, the Bank reaches a market share of 52%, a significant increase compared to the 34% in 2020, in the unsecured retail and corporate segment, which in 2021 recorded, in total, transactions for over 7 billion Euro of NPL loans.

Banca Ifis manages 2,1 million debt positions, through sustainable recovery plans that are “customer-friendly” in terms of both the duration of the repayment plan and the amount of the instalments, thus enabling debtors to manage their repayments in a sustainable manner, remedy their situation and gain access to credit again. A goal, that of the financial re-inclusion of customers, which is achieved thanks to the method developed by the Ifis Npl Servicing team, a company deserving of the best rating category “1” for Fitch. Through its two operating companies, Ifis NPL Investing and Ifis NPL Servicing, the Banca Ifis Group ensures the vertical management of the entire impaired loan chain: from purchase to portfolio onboarding and collection.

“We are proud to confirm our status as a trusted partner of banks and investment funds – explains Frederik Geertman, CEO of Banca Ifis – a choice that is renewed over time and confirms Banca Ifis’s leading role in the sector. Our purchasing and intake capabilities enabled significant investments to materialise, particularly in the second half of the year, well above the targets set for 2021. The Bank manages a significant number of debt positions and is engaged in constant process improvement activities and careful monitoring of the quality of service, achieved through more than 60 thousand customer assistance phone calls per year. These best practices, which in 2021 allowed for record collections on the NPL portfolios acquired, have enabled us to confirm our role as the leading investor in Italy in the asset class of reference and are the basis for the targets we will be setting in the new 2022-2024 business plan”.

In 2021, the Bank made the largest NPL acquisition in its history and the largest of the year in the Italian market in terms of direct sales. This is the agreement signed with a Cerberus Capital Management L.P. Group company for 2,8 billion Euro in face value.

The last portfolio acquisition of the year was with Findomestic Banca. These consist of more than 34 thousand positions, mainly consumer loans relating to personal loans, worth a nominal total of 254 million Euro. With a view to rationalising the portfolio, in 2020, Banca Ifis also transferred receivables for a residual total nominal amount of more than 630 million Euro to specialised operators.

Today, the Bank’s proprietary portfolio has a nominal value of 21,9 billion Euro, in addition to 2,6 billion in management on behalf of third parties, for a total of 24,5 billion Euro (in nominal terms).