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Banca IFIS, two more NPL deals

Inside information

Mestre (Venice), September 15 – Banca IFIS closed two deals for the purchase of about 420 million euro (nominal value) worth of NPLs.

The first deal, closed with a leading company in the unsecured consumer purpose credit sector, will see the transfer of 35 million euro (nominal value) of unsecured automotive loans in the next 24 months under a forward flow agreement. The portfolio is composed of financing and unsecured leasing loans that belong to the automotive sector.

The second deal will see the purchase from Findomestic Banca of a portfolio of about 384 million euro (nominal value). The portfolio, sold in the primary consumer credit market, is composed of about 70 thousand position. The breakdown is as follows: personal loans (55%), credit card loans(31%), car loans (9%) and purpose loans (5%).

“These deals represent for us a proof of trust from sellers that know us already” stated Andrea Clamer, Head of Banca IFIS NPL Area. “The choice to continue the collaboration with Banca IFIS also shows the excellence of our structure and of the work that the NPL Area is carrying out in this sector, with a leading role and with an ever increasing will to improve”.