IFIS NPL, the company owned by Banca IFIS Group dedicated to the acquisition, managing and transformation of non-performing loans (NPL), bought from Monte dei Paschi di Siena, a NPL portfolio with gross book value of €1.16 billion.

The portfolio acquired includes over 83,000 debtors. Ca. 16%, equal to €192 million gross book value, is represented by consumer loans. The remaining 84%, ca. € 967 million gross book value, consisted of unsecured small ticket banking NPLs.

In a note, Banca IFIS confirms its dynamic strategy in purchasing and managing NPLs.

After buying in the third quarter eight portfolios with a gross book value of ca. €1.83 billion, in the fourth quarter of 2018 the Bank purchased, in addition to the above mentioned MPS’s transaction, other four portfolios with a total gross book value of €93 million and ca. 30,000 positions. In 2018, total purchases amounted to €3.6 billion gross book value, in line with company targets.

As a result of these transactions, IFIS NPL’s portfolio amounts today at €15.7 billion (gross book value) with over 1.6 million positions.

Original story: Globe News Wire | PR
Photo: IFIS Finance
Edition: Prime Yield