MBCredit Solutions acquires €204m in consumer credit NPLs from UniCredit

MBCredit Solutions
MBCredit Solutions has acquired a portfolio of non-performing loans deriving from unsecured contracts with clients in the consumer credit business with a nominal value of approx. €124m. MBCredit Solutions and Unicredit have also reached an agreement regarding the sale of a further approx. €80m in non-performing receivables of the same type to be generated from 2Q 2018 to the year-end, for an aggregate nominal amount of approx. €204m. The portfolio consists of approx. 16,000 non-performing positions in respect of consumer credit, credit card and current account positions executed by UniCredit. Francesco Barelli Terrizzi, Chief Executive Officer of MBCredit Solutions, said: “The agreement we have signed confirms that MBCredit Solutions is a reliable industrial partner, able to generate valuee through dedicated and structured management of non-performing assets”. As a result of the transactions finalized, the nominal value of the portfolio of non-performing loans owned by MBCredit Solutions now amounts to approx. €4.4bn. The agreement comes on the back of other similar deals completed with the two leading Italian banks and confirms the growth path undertaken by the Mediobanca Group’s specialist NPL management arm. In the last eighteen months, the portfolio of NPLs managed by MBCredit Solutions has more than doubled. MBCredit Solutions was assisted in the legal aspects of the deal by lawyers Gattai, Minoli, Agostinelli & Partners. Milan, 20 June 2018
20 June 2018

MBCredit Solutions acquires two NPL portfolios for a total nominal amount of €335m

MBCredit Solutions, the Mediobanca Group company specialized in acquisition and management of non-performing loans, has recently signed two new agreements to acquire non-performing loans with leading Italian financial operators for an aggregate nominal amount of €335m. Firstly, in June 2020, MBCredit Solutions acquired a portfolio consisting of approx. 18,000 non-performing positions with a nominal value of €140m from one of the leading Italian credit consumer players. As part of the same deal MBCredit Solutions also signed a forward flow agreement for an additional €66m in non-performing loans, with sales that will take place in the months of September and December 2020. The acquisitions therefore involve a total nominal amount of €206m in receivables from personal loans, special purpose loans and revolving credit cards. Secondly, MBCredit Solutions has also acquired a portfolio of non-performing bank loans, deriving from personal loans, credit cards and overdrafts on current account, from a leading financial institution. The portfolio, which consists of approx. 16,000 positions, has a total nominal value of €129m. Angelo Piazza, MBCredit Solutions CEO, said: “The NPL market continues to be extremely dynamic, even during lockdown, when we were involved in numerous tenders to value different types of portfolio (private clients or SMEs, stock or forward flow), culminating in the two acquisitions we have made. Business continues at a fast pace, we are looking at other portfolios and expect the market to be very active in the last months of 2020 as well”. Piazza concluded: “Investors such as MBCredit Solutions are already, and will become even more so in the future, a significant point of reference for the banking system which has to deal with the expected increase in non-performing items due to the effects of COVID-19, and to manage the NPL ratio in accordance with the regulator’s requirements”. Matteo Gervasio, Investments and Development Director at MBCredit Solutions, added: “We’re very pleased at having completed these deals with two leading operators from whom we have never bought portfolios in the past. This consolidates MBCredit Solutions’ role in acquiring NPLs, and confirms our competitiveness in acquiring unsecured loans and closing forward flow deals, after the agreement reached with Deutsche Bank in December 2019”. Following this acquisition, the MBCredit Solutions proprietary portfolio has an aggregate nominal value of over €5,5bn.