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Report: Banca IFIS close to acquisition of €1B portfolio

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Report: Banca IFIS close to acquisition of €1B portfolio

Banca IFISSpA CEO Giovanni Bossi said the bank is working on a number ofdeals and hopes to disclose the purchase of a €1 billion portfolio in the nearfuture, Reuters reported April 8.

Banca IFIS specializes in purchasing portfolios ofnonperforming loans, and Bossi said it has a target of €2 billion of consumerNPL acquisitions in 2016, according to the report. The bank on April 5 said itacquired a total ofabout €450 million of NPLs in two separate transactions.