A pool of 72 banks that are part of BCC Iccrea signed an agreement for selling NPLs and UTPs with a face value of 300 million euros by the end of March 2024 marzo (see here a previous post by BeBeez). The portfolio attracted the interest of Italian and foreign investors. After the deal, Iccrea’s NPE gross ratio will be of 3.6% (down 0.3% from the end of 2023) while net NPE will be of 1% (down 0.1%). Mauro Pastore is the coo of BCC Iccrea.
A-Zeta, a data investigation and full credit service firm for secured & unsecured, individual, corporate, and SMEs NPEs, reached 9.8 billion euros of asset under management and a 14 million turnover for 2023 (+20% from 2022) ahead of a 19 million target for 2024 (+40% from 2023) (see here a previous post by BeBeez). The infoproviding services generated 60% of revenues while the credit collection and antifraud intelligence units provided with a contribution of 20% each.
In 2023, Fire Group, an Italian servicer for NPEs that belongs to chairman Sergio Bommarito, closed transactions with a face value of 70 million euros (see here a previous post by BeBeez). Fire acquired 50 million of such credits in coinvestment and the remaining 20 million from Banca Popolare Pugliese, Banca Sella (which signed a rolling sale agreement) and other Italian banks.
In 2023, Solution Bank (fka Credito di Romagna), an Italian investor in NPEs and high yield liabilities that sold a 90% stake to Hong Kong’s SC Lowy in 2018, che, generated gross profits of 23.1 million euros (+109.3% from 2022) (see here a previous post by BeBeez). Michel Lowy and Cheon Lee are the founders of SC Lowy.
The Italian Government raised from 2.5 million euros to up to 5 million the warranty for the credits of each borrower (see here a previous post by BeBeez). Mediocredito Centrale and the Italian Ministry of Entreprise and Made In Italy will manage this warranty fund for Italian SMEs.
