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Banca IFIS sells 226 million euro worth of NPLs

Inside information

Mestre (Venice), July 1, 2016 – Banca IFIS subscribed a transfer contract of a portfolio of unsecured Non-Performing Loans in the Italian consumer credit market with a with a company that operates in the financial market.

Subject of the operation is a non-performing loans portfolio of 226 million euro (nominal value) corresponding to about 20.000 positions. The transfer was carried out in the secondary consumer credit market relating to advanced age-credits.

“The transfer is in line with the strategy that Banca IFIS adopted in the DRL (Distressed Retail Loans) business. It testifies the bank’s ability to create valuable synergies with Italian and International players, active in the primary and secondary NPL markets” stated Andrea Clamer, Head of Banca IFIS NPL Area.

In light of the transactions carried out until now, Banca IFIS’s owned portfolio amounts to over one million positions corresponding to a total nominal value of almost 10 billion euro, confirming itself market leader in Italy and amongst the most active players in Europe.