BREAKING NEWS – 24.07.2023

In the press release of July 20th, 2023, Integrated System Credit Consulting Fintech S.p.A. (the “Company” or “ISCC Fintech”), a company active in Italy in the business of acquisition of so-called granular portfolios of non-performing loans (otherwise known as NPL loans) from financial institutions, regulated companies providing goods or services (telephony, gas, electricity), special purpose vehicles and financial companies pursuant to Art. 106 T.U.B. and in the activity of management and recovery of the same (so-called “Credit Management” activities), announces that, as of the date of the press release, a preliminary contract for the acquisition of a portfolio of NPL unsecured individual receivables related to the secondary and financial market, with a nominal value of approximately € 6.00 million, has been finalized. 

The portfolio consists of 1,509 positions, mainly related to banking and financial contracts. The final sale will be formalized once the Due Diligence, to be completed within the next 180 days, has been carried out and through a separate contract.

Commenting on the operation, the Company’s CEO, Gianluca De Carlo, noted, “The acquisition of portfolios of non-performing loans consolidates ISCC Fintech’s role in the NPL segment, increasing the Company’s portfolio to approximately 819.50 million euros, with a total of about 107,754 positions.”

With the press release in mind, we confirm our recommendation: target price € 10.00, rating BUY and risk MEDIUM.

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