Ifis Ceo Says Binding Bids For Sale Of Bad Loan Business Expected By End: year
04/08/2026 14:21
IFIS CEO says binding bids for sale of bad loan business expected by end-year MILAN, Aug 4 (Reuters) - Italy's Banca IFIS IF.MI expects to receive binding bids by the end of the year for its non-performing loan business which it has put up for sale due to European Central Bank rules on provisioning, Chief Executive Frederik Geertman said.
The NPL portfolio owned by IFIS was worth €16.2 billion at the end of June in gross terms and €1.5 billion net of provisions, presentation slides showed.
Geertman said "very high level players", both international and domestic, had expressed an interest in the asset, signing non-disclosure accords.
(Reporting by Valentina Za, editing by Gavin Jones)
((valentina.za@thomsonreuters.com; +39 02 6612 9526;))
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