Unicredit sells a package of 335 million impaired loans to Banca Ifis


UniCredit sells to Banca Ifis npl (impaired loans) for a total of 335 million. In detail, the group of Piazze Gae Aulenti has concluded an agreement with Banca Ifis for the transfer without recourse of a portfolio of non-performing loans deriving from unsecured credit contracts to private sector customers. The overall amount – gross of value adjustments – is approximately € 155 million. The economic impact of the sale will be incorporated in the financial statements for the second quarter of 2020.UniCredit and Banca Ifis have also reached an agreement for the sale of approximately 180 million euros of non-performing loans deriving from consumer credit contracts which will be generated from the first quarter of 2020 until the end of the year, of which 30 million euros already sold in June.
“Even in this complex period, we continued to invest in the Non Performing Loans market by actively participating in the processes of transferring NPL credits and strengthening the out-of-court recovery activity in order to minimize the impact of extension resulting from the temporary closure of the courts. Currently , we are participating in 11 transfer processes for a nominal value of approximately 2.8 billion euros – explains Katia Mariotti, Head of Central Management of NPL Banca Ifis – The market context is not simple but thanks to the diversification of the proprietary portfolio and experience matured, we are recording more than satisfactory recovery performances “.

Banca Ifis launches the new brand. “Dynamic npl market, there has been no collapse in prices”

In the first half, Banca Ifis purchased 10 portfolios for a total of € 800 million of nominal value (purchase price of approximately € 90 million) and participated in 16 sales processes for a total of € 1.5 billion (nominal value). At 30 June 2020 the portfolio owned by the Banca Ifis Group amounted to € 18.2 billion (€ 17.8 billion at 31 December 2019) of nominal value in addition to € 6.6 billion (€ 5.6 billion euro at 31 December 2019) under third party management for a total amount of 24.8 billion euro of nominal value (23.4 billion euro at 31 December 2019).

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