Banca IFIS SpA said Dec. 11 that it closed two transactions for the purchase of nonperforming retail and corporate loans with a total nominal value of €336 million.
One of the transactions was drawn up with Intesa Sanpaolo SpA and involves a portfolio of unsecured receivables from leasing contracts without guarantee, totaling 2,400 positions, with a nominal value of about €85 million. Meanwhile, the second portfolio, which comprises 21,000 positions with a nominal value of approximately €251 million, consisted of banking, consumer and car loans and was purchased by an Italian company active in the nonperforming loans market.
Banca IFIS noted that it closed 17 transactions to date in 2017, with a total of about €13.2 billion of loans managed, corresponding to 1,520,000 positions. In the first 11 months of 2017, collections amounted to €118 million, compared to €69.5 million in the year-ago period.
The lender also confirmed its forecast of €5 billion worth of total purchases for the year.
