For 2023, Milan-listed illimity expects to generate net profits of 100 million euros, founder and ceo Corrado Passera said (see here a previous post by BeBeez). However, the bank’s distressed credit unit generate 1H23 profits of 46 million (70 million in 1H22).
In 1H23, the NPL unit of Milan-listed Banca Ifis generated profits of 30.5 million euros (32.5 million in 1H22) (see here a previous post by BeBeez). The unit’s brokerage margin amounted to 136.5 million (135 million).
In 1H23, Clessidra Factoring, a subsidiary of Italmobiliare that provides specialty finance facilities to SMEs in special situations, generated a turnover of 286 million euros (+47% from 1H22) (see here a previous post by BeBeez). The brokerage margin amounted to 5.3 million (+11%). Gabriele Piccini is the ceo of Clessidra Factoring.
In 2H22 the amount of NPEs for Italian banks amounted to 58.4 billion euros (67.8 billion in 1H22), said the PwC report about Italian distressed credits (see here a previous post by BeBeez). The report says that in 1H23, Italian investors closed NPL deals for a gross value of 3.7 billion on the primary and secondary market. However, the last BeBeez NPL Report says that investors closed deals worth 6.7 billion (the report is available for the subscribers to BeBeez News Premium and BeBeez Private Data) (see here a previous post by BeBeez).