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Banca IFIS purchases a portfolio of retail and corporate NPLs worth over 1 billion euro

Inside information

Mestre (Venice), 19 January 2017 – Banca IFIS announces to have completed today the purchase of a Non-Performing Loans portfolio of a nominal value of over 1 billion euro from a primary Italian Bank. The portfolio corresponds to over 39 thousand positions and consists of around 650 million euro of unsecured corporate assets. The remaining part is made up of retail unsecured assets.

“The majority of the loans we buy, analyze and manage belong to the unsecured retail segment, such as bank overdrafts or personal loans” stated Andrea Clamer, Head of Banca IFIS’s NPL division. “Recently we have bought some micro-corporate portfolios, to which we add today the assets object of the actual transaction. The goal is to implement an operational management platform for corporate loans through the know-how the bank has acquired over the past few years thanks to its positive and profitable presence in the Non-Performing Loans retail sector. This means – stressed Clamer – that we will apply our approach in all the management stages, to create value whilst respecting the three pillars on which Banca IFIS bases its strategy in every area of its business – control of risk-adjusted profitability, liquidity and absorbed capital”.