Page 13 - Consolidated Non Financial Statement

Banca Ifis

| 2020 Consolidated Non-Financial Statement
Corporate structure
5
[GRI 102-2]
[GRI 102-6]
[GRI 102-45]

* In 2020, Banca Ifis launched a project with the aim of reorganising ** In 2020, Banca Ifis established a non-banking financial institution
the whole of the Npl segment. The strategic design envisages the ("NBFI”) under the laws of Romania, called Ifis Finance IFN SA.,
creation of a vertical chain aiming to guarantee the separation and whose corporate object is the supply of miscellaneous credit
independence of loan acquisitions and Department collections. In services, including factoring.
this respect, Gemini has been established, a company that was not
operative at 31 December 2020, renamed Ifis Npl Servicing after the The aim is therefore to transform the current “Representative office”
conclusion of the following extraordinary operations carried out on 1 in Romania into a company in order to further enhance the
st
January 2021: reference competences (factoring), in a context that is considered
• merger by incorporation of Ifis Npl Servicing (formerly Fbs) into to be particularly prospectively interesting and in which Banca Ifis
Ifis Npl S.p.A.; and boasts multiple years of presence, continuing on with the Group’s
• conferral of the servicing business to Ifis Npl Servicing S.p.A. international development.
(formerly Gemini S.p.A.).
The Company, which was not operative at 31 December 2020,
st
Following these projects, starting 1 January 2021, the Group’s started operating on the reference market on 1 March 2021.
st
st
business in the Non-Performing Loans has therefore been
reorganised into three separate companies: Ifis Npl Investing, Ifis Npl
Servicing and Ifis Npl Real Estate. The first acquires the Npl
portfolios, the second deals with management and collection and Ifis
Real Estate deals with the real estate business, servicing the other
two companies.

5 The corporate structure shown here refers to 31 December 2020
st
5