Banca Ifis enjoys with the state GACs after moving to Switzerland with the holding company
Facts, numbers, news and objectives of Banca Ifis. Emanuela Rossi's article
Looking to the future, towards the new industrial plan, and roots in its core business, Npls and loans to SMEs, for Banca Ifis since last April led by Frederik Geertamn, formerly of Unicredit and former number two of Ubi Banca. In addition – as the CEO himself said in a recent interview with Sole 24 Ore – the aim is also to strengthen with “targeted but not transformative” acquisitions. In the meantime, the relocation of the controlling holding of the credit institution, La Scogliera, owned by the Fürstenberg family and headed by the heir Ernesto Fürstenberg Fassio (who is also vice president of Banca Ifis) continues.
THE NEW INDUSTRIAL PLAN
Geertman spoke of the new industrial plan, reports the Radiocor agency , on the sidelines of the Npl Meeting which took place in Cernobbio. “We are working on the industrial plan – he said -. We have an important operation underway for us: the transfer of the headquarters of the holding from Italy to Switzerland which should have a very positive impact on regulatory capital. There are conditions precedent for this operation, we believe it is probable but not safe ". The CEO then recalled that we are awaiting "an opinion that must arrive from the Revenue Agency on the tax impact". Therefore "we consider it more responsible to present this Plan when we have visibility of an answer either at the end of 2021 or in the very first months of 2022 ".
NON-PERFORMING RECEIVABLES IN THE FINANCIAL STATEMENTS
At the Cernobbio Meeting, Banca Ifis presented its Npl Market watch, September 2021 edition, which shows that at the end of 2021 the stock of impaired loans in bank balance sheets will amount to 90 billion euros with an NPE ratio of less than 5%. It will then rise to 113 billion euros at the end of 2023 (Npe ratio at 5.9%).
THE FORECASTS OF BANCA IFIS
“We foresee a scenario of rising portfolio prices because in the face of this offer (by Npl, ed) we also see strong demand in search of yields. This price increase will affect all NPE categories ”explained Geertman who added:“ From our point of view, therefore, automation, engineering, process sophistication and a great attention to sustainability are needed ”.
GACS HELP THE BUSINESS OF BANCA IFIS
And if in the first nine months of 2021 NPL transactions for 8 billion euros were completed, by the end of the year they are expected for 26 billion and on the UTP front for 10 billion. Moreover, thanks to the one-year extension of the GACs, approximately 7 billion of new guaranteed transactions are expected for a total amount of 94 billion securitized portfolios from 2016 to today.
THE ROLE OF IFIS, AMCO AND QUAESTIO
It should also be noted that since 2013 the npl Industry sector has grown at good levels: + 21% revenues, + 12% assets under management, + 35% investments, + 14% EBITDA and + 16% employment. . The first three investors (Amco, Ex Quaestio capital management and its own Banca Ifis) from 2015 to September 2021 acquired 80 billion euros in volumes with operators who estimated a growth in turnover of 6% and margins of 15%. And Geertman has no doubts: “Today these actors are able to absorb non-performing loans effectively and efficiently and become protagonists of the recovery”.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/banca-ifis-gacs-svizzera-holding/ on Mon, 04 Oct 2021 05:33:59 +0000.