The deal is part of the Group’s strategy of diversifying its business and expanding in the sector of loans to the Public Administration.
Rome, 8 July 2020 – Credito Fondiario, Italy’s leading bank in the investment and servicing of non performing loans portfolios, and parent company of the Credito Fondiario Banking Group, has acquired a portfolio of mainly non-performing loans deriving from supplies to public administrations, including provinces, regions and consortia, for a gross book value (“GBV”) of approximately 180 million Euro.
“Credito Fondiario, with a view to the continuous diversification of its business, is pursuing the development of its activities in the world of loans to the public administration,” the Chief Investment Officer, Guido Lombardo, explains. “This activity is additional and complementary to our investment line in the world of tax credit, which started a year and a half ago and is giving us excellent results.”
“This investment, which joins many others currently being assessed, is the best proof that Credito Fondiario is active on the market, even in this uncertain situation, both as servicer and as investor”, said Mirko Briozzo, Deputy General Manager and Chief Business Officer adds.
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