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Tuesday 13 March, 2018

Banca IFIS S.p.A.

Banca IFIS S.p.A. :zero impact from new regulat...

Banca IFIS S.p.A. :zero impact from new regulation on NPLs for new loans disbursed from March 14, 2018
PRESS NOTE

Banca IFIS: zero impact from new regulation on NPLs for new loans disbursed from March 14, 2018
 

Mestre (Venice), March 13, 2018 - With reference to the news published today's afternoon by news agencies which states that the new rules relating to the treatment and the provisions on deteriorated assets will only apply to new loans disbursed starting from March 14, 2018, Banca IFIS specifies that none of the loans that belong to the NPL portfolio owned by Banca IFIS were disbursed after March 14, 2018. The impact of the new regulation with reference to the date of application is therefore null. 

Furthermore, Banca IFIS has reason to believe that the new regulation will apply to the originated receivables and not also to the loans portfolios acquired by a bank that, as Banca IFIS, is present in the business of the purchase, management and recovery of non-performing loans within a consolidated strategic plan with operations carried out at market conditions. 
Therefore, Banca IFIS believes that in no way the new regulation affects the operations of its NPL Area, dedicated to the purchase, management and recovery of non-performing loans portfolios originated by other financial institutions.



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Source: Banca IFIS S.p.A. via Globenewswire


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