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Banca IFIS buys NPL portfolio worth more than €1B

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Banca IFIS buys NPL portfolio worth more than €1B

Banca IFISSpA completed the purchase of a portfolio of nonperforming loans with anominal value of more than €1 billion from the Italian secondary market ofunsecured consumer credit.

The NPL portfolio, 64% of which comprises credit consumerloans and 36% credit card loans, corresponds to approximately 152,000 positions.