Banca IFIS buys over 75 million Euro worth of distressed consumer assets on the domestic market

Mestre (Venice), 17 November 2016 - Banca IFIS announces it has purchased an unsecured non-performing consumer loans portfolio on the domestic market for a total nominal value of 75,6 million Euro.

The portfolio, containing over 6.400 positions, was sold to Banca IFIS by one of the main Italian consumer credit companies and mainly consists of personal loans (89%).

"Banca IFIS's DRL (Distressed Retail Loans sector) is experiencing vigorous growth and gaining strength" stated Andrea Clamer, Head of Banca IFIS's NPL Area. "Since the start of 2016, we have purchased over 2,8 billion euro of impaired assets. - added Clamer - These assets make up part of our owned NPL portfolio (9.6 billion Euro) which boasts significant volumes to which a valuable set of information on our customers is associated. Banca IFIS's ability to manage large amounts of data and a vast number of customers is allowing tens of thousands of families to settle their financial debts".

In light of transactions carried out so far, Banca IFIS's own non-performing loans portfolio amounts to over 1.3 million positions, making up a total nominal value of 9.6 billion euro.