Italian NPL Update 2018-10

Hoist Finance has entered into an agreement to lease and subsequently acquire the business going concern of the Italian debt collection companies Maran S.p.A. and R&S S.rl. (“Maran Group”) in a multistep process, in the context of their composition with creditors (concordato preventivo) pursuant to Italian Insolvency Law (press release). The same investor is also acquiring a 150m NPL portfolio by Banca Patavina.

Banca Interprovinciale S.p.A., currently a subsidiary of SPAXS Spa that will become Illimity  has finalized the acquisition of

  • a portfolio of non-performing loans with a gross book value of Euro 155 million, sold by Cassa di Risparmio di Volterra and largely composed by corporate positions secured mostly by commercial and industrial assets, with an average value per position of €250,000.
  • a portfolio of non-performing loans with a gross book value of Euro 263 million acquired in an off-market transaction on the secondary market from Istituto Finanziario del Mezzogiorno S.p.A.. It is a banking portfolio and largely consists of corporate positions, of which 30% secured, with an expected return in line with the bank’s strategic plan.

Banca IFIS and SGA have signed a notification agreement aimed at facilitating SGA customer access to Banca IFIS factoring services. Above all, this initiative is intended for small and medium enterprises with exposures with SGA classified as unlikely to pay or as past due.

CARIGE is formalising the agreement with Bain Capital Credit LP for the disposal of a UTP portfolio of up to EUR 400 million in Gross Book Value, within the framework of the exclusive negotiations announced on 7 August 2018, which will allow the Bank to bring the NPE amount below the ECB’s end-2018 target of EUR 4.6 billion.

In September, IFIS NPL acquired from UniCredit, Deutsche Bank Group and one of the leading Italian consumer credit companies three portfolios of distressed loans for a total of € 1.26 billion (nominal value) corresponding to more than 70,700 positions.

MBCredit Solutions has signed an agreement to acquire four portfolios of unsecured non-performing loans with a nominal value of €665.3m, consisting of more than 40.000 positions acquired on both the primary and secondary market:

Phoenix Asset Management is going to manage a further 225m secured NPL Portfolio acquired by AnaCap and sold by Volksbank and Banca di Pisa e Fornacette.


#Savethedate the 12th CV DAY is coming on 21st November at Crowne Plaza Milan Linate.  Click here to register.


Do you like these updates? subscribe my newsletter 

Are you interested in Italian banks and NPL/UTP market? Ask for a briefing  (in person or via conference call) by sending me a private message.

To get further updates Join the Linkedin Group – Entering Italian NPL Market  and follow #Liberi Di Scegliere via @blastingnews



GLG – Gerson Lehrman Group – Council Member

About Massimo Famularo

Investment Manager and Blogger Focus on Distressed Assets and Non Performing Loans Interested in Politics, Economics,
This entry was posted in Entering Italian NPL Market, Italian Banks. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s