Banca Ifis completes record acquisition of non-performing loans from Cerberus for a total of 2.8 billion euros



Banca Ifis completes record bad debt acquisition from Cerberus for a total amount of 2.8 billion euros

  • This is the largest sale of NPLs ever made in 2021 in Italy, in the primary and secondary markets
  • The 2021 acquisition target was reached early
  • The portfolio of assets under management amounts to 25.2 billion euros

Milan, November 3, 2021 – Banca Ifis has completed its largest acquisition of NPL in the history of the Bank and has achieved the NPL portfolio acquisitions target planned for 2021, equal to approximately € 3 billion. The company finalized the transaction pursuant to an agreement with subsidiaries of Cerberus Capital Management LP (“Cerberus”) for the acquisition of bad debts with a nominal amount of 2.8 billion euros. The stock includes around 300,000 unsecured loans issued by Italian banks and financial institutions. Receivables, due from private customers, mainly arise from consumer credit contracts (personal loans, specific use loans and car loans).

In terms of portfolio size, this transaction represents the largest actual sale of non-performing loans in 2021 in Italy, both in the primary and secondary markets.

“We are extremely satisfied with the agreement with Cerberus, which strengthens the role of Banca Ifis as a valuable partner of banks and funds. This is an important transaction which, both in volume and in nature, contributes to a leading position in the unsecured retail segment – explains Katia Mariotti Chief NPL Officer of Banca Ifis -. The operation enabled Banca Ifis to reach its acquisition target for 2021 earlier. This record arrives in addition to another record of money collected during the first six months of 2021 “.

Following this transaction, the Banca Ifis Group’s own portfolio now stands at a nominal amount of 21.8 billion euros, to which is added 3.4 billion euros in management on behalf of third parties, for a total of 25.2 billion euros. (nominal amount).

Rosalba Benedetto

Martino Da Río

Communication director

RI and business development manager

and external relations

Banca Ifis SpA

Banca Ifis SpA

M. +39 02 24129953

Eleonora Vallin

Cristina Fossati, Luisella Murtas

Head of the press office

Press office

Banca Ifis SpA

Image construction

M. +39 342 8554140

+39 02 89011300

Andrea Nalon

Press office

Banca Ifis SpA


Banca Ifis SpA published this content on November 03, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 03 November 2021 07:01:06 AM UTC.

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