CERNOBBIO, Italy, April 7 Italian lender Banca
IFIS is studying 10 possible transactions involving the
purchase of bad loans as it gears up to buy up to 15 billion
euros ($16 billion) in soured debt by 2019, CEO Giovanni Bossi
said on Friday.
Banca IFIS, which specialises in the management of bad
loans, aims to buy between 10-15 billion euros of soured loans
in the 2017-19 period, according to its latest business plan.
"We have already bought 2 billion euros (of bad loans) this
year and we are studying 10 other possible deals," Bossi said on
the sidelines of the Ambrosetti business conference.
After a deep recession, Italian banks are struggling to get
rid of some 200 billion euros of bad loans on their balance
($1 = 0.9408 euros)
(Reporting by Francesca Landini and Giulio Piovaccari; Editing
by Edmund Blair)