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Banca IFIS acquired 1.4 billion Euro NPL portfolio with Guber and Barclays Bank plc


Milan, 6 December 2019 – Banca IFIS confirms his leadership in unsecured NPLs by acquiring, with Barclays Bank plc and Guber Banca, a non performing loan portfolio with gross book value of ca. Euro 1.4 billion. The portfolio consisted of over 22,000 bank loans disposed by a primary financial institution, of which 19,500 loans with ca. Euro 535 million (gross book value) were acquired by Banca IFIS. The remaining portfolio of ca. Euro 900 million (gross book value) was acquired by Guber and Barclays Bank plc with investment vehicle Gaia SPV. Banca IFIS and Guber Banca will act as servicer to their respective acquired portfolios.

From 1 January to 30 November 2019, Banca IFIS, which enjoyed ca. 50% market share in unsecured NPL, acquired Euro 1,531 million (gross book value) non-performing loans and recovered Euro 231 million in cash from his own NPL portfolio. In the same period, in order to streamline his own portfolio, the Bank disposed to specialized operators non performing loans with total residual gross book value of Euro 586 million, consisting of portfolio tails acquired in previous years. All disposals were carried out at a price above book value.

Following these transactions, Gruppo Banca IFIS had a portfolio of Euro 17.3 billion (gross book value), Euro 6.5 billion third party NPL in servicing, for a total of Euro 23.8 billion (gross book value).