Creditech acquires 35 mln euro of Commercial NPL

MBCredit Solutions

The company has finalized the purchase of the portfolio from a major Italian Utilities player

30 December 2016

Creditech, part of the Mediobanca Group, has finalized the purchase of a commercial non-performing loan portfolio for a total nominal value of €35mln from a major Italian Utilities player. The portfolio originates from Utilities contracts with consumers and corporate customers, in which Creditech has a strong experience in credit management.

“This deal strengthens our positioning in Utilities’ NPL” commented Francesco Barelli Terrizzi, Creditech’s General Manager. “It closely follows the recent acquisition of NPL portfolios from two Italian banks, demonstrating our expertise in evaluating and acting in the NPL market.”

As a result of the recent transactions, Creditech’s non-performing loan portfolio now includes around 500.000 positions, with a total nominal value of c.€2 bn.

 

Milan, 30th December 2016

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