Banca IFIS sells 861 million euro worth of NPLs

 The portfolio corresponds to about 42.000 positions of unsecured consumer assets

Mestre (Venice), October 25, 2016 - Banca IFIS announces it has defined the details of a negotiation for the sale of an unsecured non-performing loans portfolio in the Italian consumer credit sector. The counterparty to this deal, which has allowed Banca IFIS to achieve capital gains, is an International player acting through a SPV. 

This transaction involves a non-performing loans portfolio for over 861 million euro, which corresponds to about 42.000 positions. The portfolio, transferred to the secondary consumer credit market is made up of advanced-age assets.

"Both our purchase and our sale operations testify Banca IFIS's ability to create synergies with Italian and International players in the primary and secondary NPL markets" stated Andrea Clamer, Head of Banca IFIS's NPL Area.

In light of the transactions carried out, Banca IFIS's treasury portfolio amounts to over 1.3 million positions, corresponding to a total nominal value of over 9.4 billion euro, confirming the Bank as market leader in Italy and one of the most active players in Europe. 

Banca IFIS sells 861 million euro worth of NPLs

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Source: Banca IFIS S.p.A. via Globenewswire