11/01/2021
11:39

Banca Ifis exceeds expectations acquiring 2,7 billion Euro in NPL in 2020

SDIR: REGEM
Npl

• The portfolio of assets under management totals 23,6 billion Euro
• Reorganisation completed of the NPL Department with the breakdown of assets into Ifis Npl Investing (acquisition) and Ifis Npl Servicing (management)

 

Milan, 11 January 2021 – In 2020, Banca Ifis acquired a nominal amount of 2,7 billion Euro in NPL for a total of 26 portfolios of non-performing loans, equating to 235.980 debt positions. This result exceeds the forecasts prepared early 2020, of 2,4 billion Euro, and was achieved amidst a difficult, highly challenging context, characterised by the spread of a global pandemic.

With these figures, Banca Ifis therefore confirms its leadership in the NPL segment, along with its dynamism in the acquisition of impaired loans, as well as its capacity to successfully pursue and complete both large and small transactions alike.

The transactions carried out in 2020 include a nominal amount of 2,3 billion Euro in acquisitions made on the primary market, accounting for 86,6% of the total, while transactions on the secondary market, worth an approximate nominal 370 million Euro, were mainly concluded with funds and investment vehicles.
In addition, with a view to rationalising the portfolio, in 2020, the Bank transferred receivables for a residual total nominal amount of more than 328,3 million Euro to specialised operators.

As a result of all these transactions, the Banca Ifis Group’s proprietary portfolio now has a nominal amount of 19,8 billion Euro, in addition to 3,8 billion Euro in management on behalf of third parties, for a total of 23,6 billion Euro (nominal amount).

On 1 January, the NPL area underwent a corporate reorganisation with the creation of a vertical chain aiming to guarantee the separation and independence of loan acquisitions and collections. The Group’s business in the Non-Performing Loans has therefore been reorganised into three separate companies: Ifis Npl Investing, Ifis Npl Servicing and Ifis Npl Real Estate. The first acquires the portfolios, the second deals with management and collection and, finally, Ifis Real Estate deals with real estate business servicing the other two companies.