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Banca IFIS acquires €450M of NPLs

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Banca IFIS acquires €450M of NPLs

said April 5 thatit acquired a total of about €450 million of nonperforming loans in twoseparate transactions.

Thefirst transaction relates to a portfolio with a total nominal value of morethan €240 million that was sold by Deutsche Bank AG unit Deutsche Bank SpA. The portfolio corresponds to morethan 35,000 positions, mainly consisting of personal loans.

BancaIFIS finalized the second transaction with a company active in factoring andNPL management. The corresponding portfolio has a nominal value of more than€208 million, consisting of more than 13,000 positions, mainly related topersonal loans.