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Banca IFIS to acquire NPL portfolio from Barclays

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Banca IFIS to acquire NPL portfolio from Barclays

Banca IFIS SpA finalized an agreement to acquire from Barclays Plc a nonperforming loan portfolio with a nominal value of approximately €190 million.

The portfolio, which consists of about 75,500 positions, is primarily made up of nonperforming consumer loans, along with some performing loan agreements regularly repaid by customers.

The overall value of NPLs managed by the Italian bank amounted to more than €10 billion as of April 30, consisting of over 1.4 million positions.