JV IBL Banca – Europa Factor

20 Mar 2018

JV IBL Banca – Europa Factor


IBL BANCA: Joint venture with Europa Factor for the purchase and management of NPL.

In the plans, investments in portfolios of non-performing loans originated in the Italian banking sector.

Rome, March 20, 2018 – IBL Banca, leader in the sector of loans by assignment of the fifth salary or pension, and Europa Factor, a leading Italian company specializing in the purchase and management of problem loans, announce the signing of a binding agreement for the establishment of a joint venture for the purchase and management of NPL portfolios, with particular reference to the banking and financial sector.

The activity will have as a vehicle company Credit Factor S.p.A., for which an application has been launched for registration in the Register pursuant to art. 106 of the T.U.B. The closing of the transaction, subject to authorization by the Bank of Italy, is therefore expected to take place by the end of the summer.

The joint venture provides that Credit Factor S.p.A. at the end of the transaction, will be held  50% by IBL Banca S.p.A. and 50% from Europa Factor S.p.A.

With this agreement, IBL Banca, whose core business consists of the disbursement of loans through the sale of the fifth and which has already carried out acquisitions of non-recourse portfolios of performing loans over the past two years, expands its range of action to the market as well of NPL.

The joint venture is based on the development of a business model that has its strengths in high specialization and in the use of advanced technologies.

The partnership integrates the know-how of IBL Banca into loans through the transfer of the fifth with the distinctive components of Europa Factor, which has many years of experience in the purchase of non-performing loans, resulting in the ability to analyze and evaluate portfolios, and has developed advanced management software to optimize the phases, processes and recovery rates. The business plan will be directed mainly towards operations for the purchase of credits c.d “small ticket”.

The NPL market in Italy, also in the light of the new ECB guidelines, has a growing interest from foreign operators and an increase in the volume of transactions. The joint venture with Europa Factor allows us to make an important step forward in the diversification strategy of our business and to enter this market by being able to immediately count on a structure equipped with skills and tools to optimally manage all processes, from scouting commercial risk assessment and management of acquired portfolios“, said Mario Giordano, CEO of the IBL Banca Group.

In a highly dynamic scenario in the management of impaired loans, we have channeled ideas and experience in the joint venture with IBL Banca with which we have undertaken a common path, aimed at creating and developing a corporate partnership for the purchase and management of portfolios of non-performing loans originated mainly in the banking and financial sector with the aim of maximizing value creation. Europa Factor, market leader in the sector of low performing loans (past due and unlikely to pay) and non-performing loans (non performing loans) mainly utilities and telco, also with the authorization received from the Bank of Italy as a supervised financial intermediary, will make available their solid professional skills and resources to seize new high added value market opportunities“, said Pierluca Bottone, Founder and CEO of Europa Factor.

Europa Factor is one of the first operators in Italy in the sector of the purchase and management of non-performing loans, with a track record in its history of over 8 billion loans treated, has purchased € 2.3 billion of NPL, for over 3 millions of positions, and a third party management that only in 2017 took care of the recovery of € 1.63 billion in loans.

Customers are represented by the main industrial companies in the country operating in the utilities and telco sectors, or banking and financial, whose credit management is carried out through a specialized call center equipped with 650 integrated workstations with an internal legal office consisting of 20 dedicated resources and with a network of legal domiciliation.

With twenty years of experience, it is present on the territory with a ‘proprietary’ tax collection network of 70 house officers and an external network composed of over 40 partner recovery agencies, selected from the most important in the sector and belonging to Unirec.

The founder Pierluca Bottone, began his activity in 1994 and acquires a significant know-how in the field of credit management and recovery processes that led him in 2003 to co-found the company Europa Factor S.p.A, of which he took over the entire capital in 2006.

Europa Factor S.p.A already in 2003 was authorized by the Bank of Italy to register the general list of financial intermediaries (pursuant to Article 106 of the TU before the reform). From November 2017 it is registered in the new single register of supervised financial intermediaries art. 106.

IBL Banca is the parent company of an Italian banking group leader in the financing sector through the sale of the fifth salary or pension with a market share of 15%.

The IBL Banca Group is present throughout the country with a direct distribution network consisting of 49 territorial units and an indirect network of 80 partners comprising 6 banking networks with over 487 branches, 26 credit brokers, 13 financial intermediaries and 35 agents.

The institute, founded in 1927 under the name of the Istituto per Credito degli Employees, was transformed into a bank in 2004 and a banking group in 2008 and is today in Italy able to directly and directly monitor the entire value chain of loans. by assignment of the fifth.

The IBL Banca Group’s customer portfolio is mainly focused on customers belonging to the public sector, state as well as pensioners.

Over time, the Group has expanded its offer with collection products, in particular deposit accounts, with insurance products and other financial products, also through the development of partnerships with leading third-party operators.

Source: ANSA

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