Banca IFIS, new NPL transactions: two deals reached for an overall nominal value of about 338 million euro

    Banca IFIS S.p.A.
    Gruppo Banca IFIS
    NPL
    Price Sensitive Press Releases
  •  REGEM

Mestre (Venice), 20 June 2017 – Banca IFIS has concluded two new deals involving the purchase of consumer credit portfolios for a total nominal value of approximately 338 million euro.

The first agreement involves the purchase by Banca IFIS of a portfolio made up of about 50.000 positions sold by Findomestic Banca, for a nominal value of approximately 321 million euro. This portfolio consists mainly of personal loans (64%) and credit cards (23%), with the remainder being made up of car loans and special-purpose loans.

The second deal, reached with Consel, part of the Banca Sella Group operating in the consumer credit sector, involves the purchase by Banca IFIS of a portfolio of 6.475 positions with a nominal value of approximately 16,7 million euro. This portfolio includes receivables due from individuals (approximately 97% of the nominal value) for personal loans, credit cards and unsecured loans and leases (hence without underlying guarantees), in the automotive sector.

“These transactions bring us to a total of seven purchases in 2017, for a nominal value of over 2 billion euro, in line with our 2017-2019 strategic plan,” stated Andrea Clamer, Head of Banca IFIS’s NPL Area. “These are deals reached with prestigious sellers who we have been collaborating with for years, a satisfying choice for us which testifies the excellent work we have carried out until now”.

Angelo Scatigna, Findomestic’s Head of Customer Solutions and Collection, stated: “We are pleased we have completed this important transaction through which we consolidate our relationship with Banca IFIS, one which guarantees deontologically correct management for our former customers. ”

“This is the second transaction involving Banca IFIS purchasing receivables from Consel in the last one and a half years,” said Giorgio Orioli, Consel SpA’s C.E.O. “This deal demonstrates the mutual, long-standing interest that these two financial entities share, and represents an important step in the process of optimizing loan portfolios and contextually reducing NPLs.“

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