Banca IFIS S.p.A. buys 70 million euro of Non-Performing Loans

With this deal, the Bank closes its fourth NPL purchase in 2016

Mestre (Venice), May 23, 2016 - Banca IFIS has purchased a non-performing loans portfolio from the primary market of unsecured consumer credit.

The portfolio - the fourth purchased in the first five months of 2016 - has a nominal value of over 70 million euro, corresponding to 5.900 positions and it was sold to Banca IFIS by one of the main Italian consumer credit companies. The portfolio is mainly composed by personal loans, credit consumer loans and car loans.

This purchase brings the amount of deteriorated assets acquired by Banca IFIS so far in 2016 at about 1.5 billion euro. The management of these assets will be entrusted to the collection channels that the banking institute has built and continues to develop, with particular focus on sustaining actions for people and families in financial distress.