purchased mortgage portfolio, shares in red


Intesa Sanpaolo announced that it had finalized the purchase of a mortgage loan portfolio "Performing", of receivables due from clients considered to be solvent and therefore able to meet the repayment of the credit promptly, for a nominal value of approximately € 900 million.

Mortgages, mainly intended for the purchase of first homes, were purchased by the Italian branch of Barclays Bank Ireland PLC. The loans were granted to Italian customers and guaranteed by residential properties located in Italy.

Intesa Sanpaolo: portfolio has high potential for self-financing

In terms of liquidity, according to the institution's note, the portfolio has a high potential for self-financing “Through the program for issuing covered bonds ISP OBG srl and a risk profile further contained by the planned purchase of protection on the first losses through the involvement of specialized investors on the capital market in the context of the GARC synthetic securitization program (Active Credit Risk Management) ".

"This operation – said Stefano del Punta, Intesa Sanpaolo's Chief Financial Officer – which is part of the credit strategy and dynamic management of the Group's loan portfolio as foreseen in the Business Plan, represents an opportunity to expand the family customer base and the consequent development of cross-selling and sustainable growth of revenues, with an enrichment of the offer for over 12,500 Italian families ".

Ftse Mib plate, Intesa Sanpaolo shares in red

With the Ftse Mibsubstantially flat at 22,698.50 points (+ 0.08%), Intesa Sanpaolo shares change hands. 2.2455 euros, -1.17% compared to the previous figure.

The institute's shares rose by more than 15 percentage points in the last three months in comparison with a year ago they are worth 13.8 percent more.

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