Italy's Banca Ifis cuts profit guidance after launching sale of NPL business

Banca Ifis

26/06/2026 07:10

    June 26 (Reuters) - Italy's Banca IFIS IF.MI said late on Thursday it would launch of a competitive sale of its NPL business and set aside additional provisions, leading the bank to cut this year's net profit guidance.
The group now expects its net income to come in a range of €100-110 million ($113.77-$125.15 million), compared to the previous estimate of €170-190 million.
The bank announced it recorded additional provisions for €70 million, of which €30 million tied to credit exposures that emerged from preliminary findings of a general inspection by the Bank of Italy.
The divestment of the NPL business follows the acquisitions of illimity Bank and Euclidea SIM last year, IFIS said in the statement, aiming to dispose non-core assets, guarantee solid capital levels and shareholder remuneration.
It also set aside additional provisions of €40 million tied to securitizied exposures found following its own review of illimity's NPL portfolios.
The bank added it managed around €1.5 billion of NPLs as of Thursday, "mainly concentrated in the so‑called small tickets unsecured segment".

($1 = 0.8790 euros)

 (Reporting by Enrico Sciacovelli, editing by Alvise Armellini)
 ((Enrico.Sciacovelli@thomsonreuters.com; +48587720309;))