Italy-based Banca IFIS has acquired two non-performing loans (NPLs) sold by Santander Consumer Bank and a main international fund, valued around EUR630m.
The portfolio acquired from Santander includes 18,500 positions for an assigned value of nearly EUR230m.
Majority (73%) of this relates to personal loans, while 23% relates to targeted loans.
The purchase of the second portfolio is considered to be one the first deals in Italy’s secondary market of NPLs. It comprises 50,000 positions for an assigned value of nearly EUR400m.
The portfolio includes 46% of personal loans, 30% targeted loans, and 24% of credit card loans.