PRESS RELEASE
BANCA IFIS AND THE MEDIOBANCA GROUP COMPLETE THEIR
INDUSTRIAL PARTNERSHIP IN THE NPL BUSINESS
Banca Ifis and the Mediobanca Group have today completed the long-term partnership agreement to manage non-performing loans (NPLs) signed in May 2023.
Once the necessary regulatory authorizations had been obtained, Banca Ifis acquired Revalea S.p.A., the company set up in 2022 following the spinoff of assets deriving from the NPL portfolio acquisition business with a gross book value of €6.5bn1 and a net book value of €232.1m,1 from the Mediobanca Group for a consideration of €100m.
The deal consolidates Banca Ifis's position as a reference player in the NPL market, in the small tickets unsecured segment in particular, and enables Mediobanca to exit the NPL business which is no longer a core business for the Group, as well as consolidating MBCredit Solutions' specialization in credit management and recovery, being able to count on constant business volumes for the next few years. With the deal's completion, a long-termservicing agreement between the parties has come into force, whereby MBCredit Solutions will continue to support Banca Ifis in managing and recovering bad debts and NPLs.
Under the terms of the acquisition, 18 Revalea emmployees1 will move to bolster the Banca Ifis team.
Milan, 31 October 2023
For Mediobanca | |
Media Relations | |
Tel. no.: (0039) 02-8829.319/914 | Investor Relations |
media.relations@mediobanca.com | Tel. no.: (0039) 02-8829.860/647 |
Investor.relations@mediobanca.com | |
For Banca Ifis | |
Rosalba Benedetto | Martina da Rio |
Head of Communications, Marketing, Public | Head of IR and Corporate Development |
Affairs & Sustainability | Banca Ifis S.p.A. |
and External Relations | +390224129953 |
Banca Ifis S.p.A. | |
Davide Tammaro | Davide Pastore |
Head of Brand, Corporate Reputation & | Head of Media Relations |
Sustainability | davide.pastore@bancaifis.it |
davide.tammaro@bancaifis.it | +39 337 1115357 |
+393666258525 |
1 Data as at 30/09/2023
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Mediobanca S.p.A. published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 17:10:35 UTC.