/

Banca IFIS profits leap of 324% with Italian debt sales

Posted: 13 February 2017

Italian bank Banca IFIS Group has posted a 324 percent profit rise to a record € 688 mln, as sales of non-performing loans (NPLs) slowly build momentum in Italy.

The NPL area of the group, which trades in NPL portfolios, reported steady growth with € 44.5 mln in gains on the sale of residual portfolios during the past year.

One of the group’s most recent NPL purchases was in January, a portfolio with a nominal value of more than € 1 bln from a primary Italian bank.