illimity Bank S p A: buys non-performing loans for 350 million euros

0


ILLIMITY CLOSES PURCHASES FROM NON. AWAYIMPLEMENTATION OF LOANS

APPROXIMATELY 350 MILLION EUROS

Milan, October 7, 2021illimitity Bank SpA (“illimitation” or the “Bank“) announces that in the third quarter of 2021 it purchased two separate portfolios of non-performing loans (” NPL “), mostly companies that have around a thousand debtors and whose total gross book value (” GBV “) is approximately EUR 300 million, and 5 “Special real estate situations” that are considered unlikely to be paid (“UTP”) and NPLs with a GBV of approximately 50 million euros.

The loans, which were acquired on both the primary and secondary markets, have a gross book value of around 350 million euros, of which around 158 million euros are secured and 192 million euros are unsecured.

With these transactions, which confirm the dynamism of illimity in the industry, the total gross book value of the non-performing loans purchased by the bank rises to around 8.5 billion euros.

For more information:

Investor Relations

Silvia Benzi: +39.349.7846537 – +44.7741.464948 – [email protected]

Freedom of the press and communication

Isabella Falautano, Francesca D’Amico

Sara Balzarotti, Ad hoc communications consultant

+39.340.1989762 [email protected]

+39.335.1415584 [email protected]

illimitity Bank SpA

illimitation is the high-tech banking group founded and managed by Corrado Passera, which was founded with the aim of responding to specific market needs with an innovative and specialized business model. In particular, illimity offers financing to SMEs with high potential, buys non-performing corporate loans and services them via its neprix platform and offers digital direct banking services via illimitybank.com. illimity SGR, which launches and manages alternative mutual funds, the first of which is focused on ETV loans, is also a member of the illimity group. The story of illimity began in January 2018 with the start of the earmarked acquisition company SPAXS SpA, which ended with a record income of 600 million euros on the market. SPAXS then acquired Banca Interprovinciale SpA, the merger of which resulted in “illimity Bank SpA”, which has been listed on the Italian stock exchange since March 5, 2019 (ticker “ILTY”), initially on the MTA stock exchange and since September 2020 in Star segment. The banking group, headquartered in Milan, can already count on more than 600 employees and ended the first half of 2021 with assets of over 4 billion euros.

Illimity Bank SpA, Sede Legale Via Soperga 9, 20124 Milan, Italy – www.illimity.com

Disclaimer of liability

illimitity Bank SpA published this content on October 07, 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unchanged, on October 07, 2021 07:56:07 UTC.


Share.

Comments are closed.