Banca Ifis

Legal Proceedings Report • Nov 3, 2021

Informazione Regolamentata n. 0147-92-2021		Data/Ora Ricezione 03 Novembre 2021 07:31:45	Euronext Star Milan
Societa'	:	BANCA IFIS
Identificativo Informazione Regolamentata	:	153601
Nome utilizzatore	:	IFISN01 - DA RIO
Tipologia	:	REGEM
Data/Ora Ricezione	:	03 Novembre 2021 07:31:45
Data/Ora Inizio Diffusione presunta	:	03 Novembre 2021 07:31:47
Oggetto	:	Banca Ifis has completed a record acquisition of Non- Performing Loans from Cerberus for a total of 2,8 billion Euro
Testo del comunicato

Vedi allegato.

PRESS RELEASE

Banca Ifis has completed a record acquisition of Non-Performing Loans from Cerberus for a total of 2,8 billion Euro

• It's the biggest ever true sale of NPLs in 2021 in Italy, in the primary and secondary market
• The 2021 acquisitions target has been reached early
• The portfolio of assets under management totals 25,2 billion Euro

Milan, 3 November 2021 - Banca Ifis has completed its biggest ever acquisition of NPLs in the history of the Bank and has reached the target for NPL portfolio acquisitions forecast for 2021, equal to approximately 3 billion Euro. The company has completed the transaction pursuant to an agreement with affiliates of Cerberus Capital Management L.P. ("Cerberus") for the acquisition of bad loans worth a nominal amount of 2,8 billion Euro. The stock comprises approximately 300.000 unsecured loans originated by Italian banks and financial institutions. The receivables, due from retail customers, mainly derive from consumer loan contracts (personal loans, specialpurpose loans and car loans).

In terms of portfolio size, this deal represents the most significant true sale of Non Performing Loans in 2021 in Italy, both in the primary and secondary markets.

"We are extremely happy with the agreement reached with Cerberus, which strengthens the role of Banca Ifis as a valuable partner of banks and funds. It is an important transaction, which both due to its volume and type, makes an important contribution towards consolidating our leadership position in the unsecured retail segment – explains Katia Mariotti Chief NPL Officer of Banca Ifis -. The transaction has led Banca Ifis to reach its 2021 acquisitions target early. This record comes in addition to another record cash collected in the first six months of 2021".

As a result of this transaction, the Banca Ifis Group's proprietary portfolio now has a nominal amount of 21,8 billion Euro, in addition to 3,4 billion Euro in management on behalf of third parties, for a total of 25,2 billion Euro (nominal amount).

Rosalba Benedetto Director of Communications and External Relations Banca Ifis S.p.A.

Eleonora Vallin Head of the Press Office Banca Ifis S.p.A. M. +39 342 8554140

Andrea Nalon Press Office Banca Ifis S.p.A. Martino Da Rio Head of IR and Corporate Development Banca Ifis S.p.A. M. +39 02 24129953

Cristina Fossati, Luisella Murtas Press Office Image Building +39 02 89011300