Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Illimity Bank S.p.A.    ILTY   IT0005359192

ILLIMITY BANK S.P.A.

(ILTY)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

illimity Bank S p A : and Banca Ifis sign their first deal for the sale of a granular npl portfolio worth 266 million euro

share with twitter share with LinkedIn share with facebook
08/07/2020 | 03:54am EDT

BANCA IFIS AND ILLIMITY SIGN THEIR FIRST DEAL

FOR THE SALE OF A GRANULAR NPL PORTFOLIO

WORTH 266 MILLION EURO

Milan, 7 August 2020 - Banca Ifis and illimity Bank announce they have finalized a deal involving non-performing loans ("NPL") for a total Gross Book Value of approximately 266 million euro and related to around 4,000 debtors.

Specifically, the portfolio sold by illimity to Ifis NPL, a subsidiary of Banca Ifis Group, consists of unsecured loans, related to retail and corporate granular positions acquired by illimity, during 2019, as part of investment transactions in large portfolios on the primary market.

Katia Mariotti, Chief NPL Officer of Banca Ifis, commented:

"Through this first agreement, Banca Ifis and Illimity enter into a new collaboration aimed at providing the secondary credit market with greater efficiency and liquidity. With this deal, which involves a portfolio recently acquired by illimity from relevant originators on the primary market, the different skills and expertise are exploited to the fullest.

Even in this environment, the secondary market remains a dynamic arena capable of offering important selected investment and profitability opportunities: Banca Ifis then confirms itself as a reference counterparty in the purchase of distressed credit, thanks to its great attention to asset selection and its ability to extract value from NPL portfolios in the different stages of the credit cycle".

Andrea Clamer, Head of Distressed Credit Investment and Servicing Division of illimity, commented:

"The transaction was carried out identifying, among the distressed credit acquired so far by illimity, a few non-core positions according to the current business model. We will continue to generate value also through disposal opportunities of this kind and by creating synergies with players like Banca Ifis, specialized in asset classes that are complementary to illimity's core business. The deal announced today represents the second of its kind and it is an important milestone. We will continue to work in this direction by seizing all opportunities emerging in the market.

The disposal of these credits is consistent with the Bank's business plan, which focuses on the large corporate segment. With this deal, illimity confirms its position as one of the most dynamic operators in the distressed credit market, with a portfolio of approximately 5.8 billion euro in gross book value as at 30 June 2020".

For further information:

Investor Relations Illimity

Silvia Benzi: +39.349.7846537 - +44.7741.464948 - silvia.benzi@illimity.com

Press & Communication illimity Isabella Falautano, Francesca D'Amico +39.340.1989762 press@illimity.com

Gruppo Banca Ifis

Rosalba Benedetto

Communication and external relations M. +39 335 5319310 rosalba.benedetto@bancaifis.it

Eleonora Vallin

Press Office

M. +39 342 8554140 eleonora.vallin@bancaifis.it

Sara Balzarotti, Ad Hoc Communication Advisors +39.335.1415584 sara.balzarotti@ahca.it

Martino Da Rio

IR and Corporate Development M. +39 02 24129953 martino.dario@bancaifis.it

Claudia Caracausi, Image Building c.caracausi@imagebuilding.it

Banca Ifis

Banca Ifis Group is a player active in the specialty finance scene with around 1,800 employees. The main business activities are: services and credit solutions for corporates, acquisition and management of non-performing loans. Banca Ifis has a solid, sustainable and diversified business model. Its activities are concentrated in the Italian market and it operates without traditional branches, gathering deposits online. Founded in 1983 from Sebastien Egon Furstenberg, current Chairman, Banca Ifis is listed on the Milan Stock Exchange since 2003 (Star segment).

illimity Bank S.p.A.

illimity is the high-tech banking group founded and headed by Corrado Passera that was created with the aim of responding to specific market needs by way of an innovative and specialist business model. More specifically, illimity extends financing to high-potential SMEs, purchases distressed corporate loans and services these through its platform, neprix, provides digital direct banking services through illimitybank.com and, with illimity SGR, over the next few months will set up and manage the first Alternative Investment Fund for corporate loans. The story of illimity began in January 2018 with the launch of the special purpose acquisition company SPAXS S.p.A., which ended with a record 600 million euro being raised on the market. SPAXS subsequently acquired Banca Interprovinciale S.p.A., with the resulting merger between the two, giving rise to "illimity Bank S.p.A." which began trading on Borsa Italiana's MTA exchange on 5 March 2019 (ticker "ILTY"). The banking group, headquartered in Milan, can already count on 500 employees and closed its first year of activity with assets of 3 billion euro.

Disclaimer

illimity Bank S.p.A. published this content on 07 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2020 07:53:18 UTC


share with twitter share with LinkedIn share with facebook
All news about ILLIMITY BANK S.P.A.
10/15ILLIMITY BANK S P A : A story of tradition and innovation. The FECS Group case
PU
10/07ILLIMITY BANK S P A : Italy's Illimity evaluating bids on 2 bln euros of soured ..
RE
10/01ILLIMITY BANK S P A : supports Be Power in investing in sustainable energy
PU
09/30ILLIMITY BANK S P A : A major joint venture with a clear fintech feel
PU
09/28ILLIMITY BANK S P A : What does working in sustainability mean? Let's discover i..
PU
09/22ILLIMITY BANK S P A : Join Venture illimity - Fabrik (Gruppo Sella) in the finte..
PU
08/10ILLIMITY BANK S P A : conclude il piano di riacquisto delle azioni proprie a ser..
PU
08/10ILLIMITY BANK S P A : completes its share buyback program serving its Long Term ..
PU
08/07ILLIMITY BANK S P A : e Banca Ifis firmano il primo accordo per la cessione di u..
PU
08/07ILLIMITY BANK S P A : and Banca Ifis sign their first deal for the sale of a gra..
PU
More news
Financials
Sales 2020 162 M 192 M 192 M
Net income 2020 30,4 M 36,1 M 36,1 M
Net Debt 2020 - - -
P/E ratio 2020 18,7x
Yield 2020 -
Capitalization 575 M 680 M 682 M
Capi. / Sales 2020 3,54x
Capi. / Sales 2021 2,34x
Nbr of Employees 514
Free-Float 87,2%
Chart ILLIMITY BANK S.P.A.
Duration : Period :
illimity Bank S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ILLIMITY BANK S.P.A.
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 10,45 €
Last Close Price 8,70 €
Spread / Highest target 20,7%
Spread / Average Target 20,1%
Spread / Lowest Target 19,5%
EPS Revisions
Managers
NameTitle
Corrado Passera Chief Executive Officer & Director
Rosalba Casiraghi Chairman
Francesco Renato Mele Chief Financial Officer
Massimo Brambilla Director
Maurizia Squinzi Independent Director
Sector and Competitors