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Banca IFIS concludes 2 more NPL purchase agreements


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Banca IFIS concludes 2 more NPL purchase agreements

, an Italian groupspecializing in buying up nonperforming loans as well as trade and taxreceivables, said July 7 that it concluded its seventh and eighth NPL purchasedeals of 2016.

The firmsaid it picked up an NPL portfolio comprising 3,900 positions of primarilycredit card overdrafts with a nominal value of €104 million from a majorItalian bank. It also concluded a forward flow agreement with an Italianconsumer credit company, under which it will receive roughly €6 million of NPLsa month for 12 months.

Theacquisitions bring the total value of NPLs acquired by the bank year-to-date toabout €2.3 billion.