Banca IFIS has agreed to buy a loan portfolio with a face value of around €190m from Barclays bank.
The portfolio, originated in Italy, is made up of 75,500 non-performing consumer loans and performing loan agreements regularly repaid by customers
Andrea Clamer, head of Banca IFIS’s NPL area, said this is the first time the Italian bank has purchased a portfolio containing both non-performing and performing loans.
He said: “In a market with increasingly lively dynamics, where the choice to dispose assets is now considered a primary strategic option, we continue to evaluate all possible transactions in line with our strategic pillars which are the right profitability for the risk taken on and balanced capital absorption.”
As of April 30 this year, the overall value of non-performing loans managed by Banca IFIS amounted to more than €10bn comprising of more than 1.4 million loans and loan agreements.