Today: June 25, 2018, 5:47 pm
  
Business

Banca IFIS S.p.A. :zero impact from new regulation on NPLs for new loans disbursed from March 14, 2018

PR-Inside.com: 2018-03-13 19:09:02
PRESS NOTE

Banca IFIS: zero impact from new regulation on NPLs for new loans disbursed from March 14, 2018
 

Mestre (Venice), March 13, 2018 - With reference to the news published today's afternoon by news agencies which states that the new rules relating to the treatment and the provisions on deteriorated assets will only apply to new loans disbursed starting from March 14, 2018, Banca IFIS specifies that none of the loans that belong to the NPL portfolio owned by Banca IFIS were disbursed after March 14, 2018. The impact of the new regulation with reference to the date of application is therefore null. 

Furthermore, Banca IFIS has reason to believe that the new regulation will apply to the originated receivables and not also to the loans portfolios acquired by a bank that, as Banca IFIS, is present in the business of the purchase, management and recovery of non-performing loans within a consolidated strategic plan with operations carried out at market conditions. 
Therefore, Banca IFIS believes that in no way the new regulation affects the operations of its NPL Area, dedicated to the purchase, management and recovery of non-performing loans portfolios originated by other financial institutions.
Banca Ifis_Press Note



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Banca IFIS S.p.A. via Globenewswire




# 348 Words
Related Articles
More From The Author
Global Innovations for Character Development
Templeton World Charity Foundation to provide $15M in funding for character development innovations over 5 years NASSAU, Bahamas, [..]
A.M. Best Assigns Credit Ratings to Momentum [..]
A.M. Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” to [..]
ING completes acquisition of majority stake in [..]
ING has today completed the acquisition of its 75% stake in Payvision, a fast-growing, leading international omnichannel payments [..]
ForFarmers N.V.: ForFarmers publishes agenda Annual General [..]
Lochem, 13 March 2018 ForFarmers publishes agenda Annual General Meeting of Shareholders 2018 ForFarmers N.V. ('the Company') [..]
Medtronic EVP & President Hooman Hakami to [..]
DUBLIN - March 13, 2018 - Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced it will participate [..]
 
More From Business
Panama City Beach Realtor is Expanding
Panama City Beach, Fl – June 10, 2018 - Chad Miller is a Panama City Beach Realtor that began his [..]
Carrie Lam encourages French companies to leverage [..]
HONG KONG, June 20, 2018 - (ACN Newswire) - The Chief Executive of the Hong Kong Special Administrative Region, Mrs [..]
Tarps Now® Expansion Focuses on Deliveries of [..]
ST. JOSEPH, MICHIGAN, UNITED STATES -- Tarps Now® is pleased to announce increased commitment to Heavy Duty Tarps and Covers [..]
Hong Kong Q2 2018 Exports Index at [..]
HONG KONG, June 20, 2018 - (ACN Newswire) - The HKTDC Export Index for the second quarter of 2018 (2Q18) [..]
Colorado Springs Movers Celebrates 21 Years Serving [..]
Moving Day Inc. is a Colorado Springs based moving company that is celebrating 21 years of serving clients by providing [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.