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    ILTY   IT0005359192

ILLIMITY BANK S.P.A.

(ILTY)
  Report
Delayed Quote. Delayed Borsa Italiana - 06/18 11:35:30 am
11.76 EUR   -2.81%
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illimity Bank S p A : finalizes the purchase of new distressed credit from UniCredit for 700 million euro

10/21/2020 | 12:10pm EDT

ILLIMITY FINALISES THE PURCHASE OF DISTRESSED CREDIT

FOR ABOUT 692 MILLION EURO FROM UNICREDIT

Milan, 21 October 2020 - illimity Bank S.p.A. ("illimity" or the "Bank") announces that it has finalized a purchase from UniCredit S.p.A. ("UniCredit") of a non-performing loans portfolio ("NPL") for a total gross nominal value of approximately 692 million euro (gross book value).

In line with illimity strategy in terms of type of debtors, the new portfolio consists solely of loans from corporate borrowers, guaranteed by real estate assets.

Andrea Clamer, Head of Distressed Credit Investment and Servicing Division of illimity, commented: "This new transaction is a further and decisive step in our Bank's growth strategy, allowing illimity to consolidate a significant position in the distressed portfolio market with leading players in the Italian credit market, with a view to creating value for all parties involved. In this market scenario, we continue to position ourselves as a dynamic player, focused on establishing strategic and long-termrelationships".

***

For further information:

Investor Relations

Silvia Benzi: +39.349.7846537 - +44.774.1464948 silvia.benzi@illimity.com

Press & Communication illimity

Isabella Falautano, Francesca D'Amico

Sara Balzarotti, Ad Hoc Communication Advisors

+39.340.1989762 press@illimity.com

+39.335.1415584 sara.balzarotti@ahca.it

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.

Illimity Bank S.p.A., Sede Legale Via Soperga 9, 20124 Milano, Italia - www.illimity.com

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

illimity Bank S.p.A. published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 16:09:03 UTC


© Publicnow 2020
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Financials
Sales 2021 260 M 308 M 308 M
Net income 2021 55,0 M 65,2 M 65,2 M
Net Debt 2021 - - -
P/E ratio 2021 15,5x
Yield 2021 -
Capitalization 865 M 1 025 M 1 026 M
Capi. / Sales 2021 3,33x
Capi. / Sales 2022 2,49x
Nbr of Employees 621
Free-Float 75,8%
Chart ILLIMITY BANK S.P.A.
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illimity Bank S.p.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends ILLIMITY BANK S.P.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 11,20 €
Last Close Price 11,76 €
Spread / Highest target -3,06%
Spread / Average Target -4,76%
Spread / Lowest Target -6,46%
EPS Revisions
Managers and Directors
NameTitle
Corrado Passera Chief Executive Officer & Director
Francesco Renato Mele Chief Financial Officer & Head-Central Function
Rosalba Casiraghi Chairman
Teixeira Filipe Chief Information Officer
Francesco Martiniello Head-Compliance & Anti-Money Laundering
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