Italian bank Banca IFIS has unloaded two portfolios of non-performing loans (NPL) valued at €250 million.
Credit investment specialist LCM Partners acquired a €98.4 million portfolio, which comprises of bad consumer debt. The total number of loans in the portfolio is 15,000.
Link Finanziaria will service the portfolio.
Andrea Clamer, head of Banca IFIS’s NPL division, said: “We are able to create value from selling a part of the purchased portfolios, which are still perfect in processing terms, to reliable players who work with us, applying the logic of mutual enhancement of assets.”
