By
Mestre, 20 January 2012 - In the last week, Banca IFIS has
more than doubled the value of its sovereign debt bonds
portfolio, compared to the amount recorded as of 30 September
2011, as a result of Italian public debt purchases.
"We trust the government's ability to deal with the current
difficulties, and we have positive expectations
concerning Italy's ability to react." says Sebastien von
Fürstenberg, Chairman of Banca IFIS Group.
"In the last month the treasury bought a significant number
of bonds, on a market characterized by an interest rate
structure excessively penalized along the entire curve,"
confirms Giovanni Bossi, CEO of the Banca IFIS Group. "The
way the treasury operations are set up should not be viewed
as speculative, but instead as aimed at holding the bonds
until their maturity date and generating significant
profitability, which will in turn contribute to the increase
in the Bank's capital and consequently in the possibility of
a further increase in lending, in order to provide true
support to the country's real economy."
"Our investment in Italian government bonds does not
represent an alternative to lending in favour of
enterprises," continues Bossi, "but rather an additional
lending and profitability element that is neutral as far as
capital absorption is concerned. The liquidity that today is
needed to sustain the real economy is ensured by the Bank by
means of the collection, from the retail world, through the
rendimax savings account. In fact, in recent weeks an
innovative formula was launched called rendimax Like, which
collected over 200 million Euros."
Banca IFIS is still focused on small and medium-size
enterprises that continue to operate under particularly tough
economic circumstances. The profitability of this transaction
will ensure growth in profits even in case the credit quality
should deteriorate due to the negative economic
situation.
The Bank's overall portfolio consists for about 50% of bonds
set to come to maturity by the end of 2012 and
for additional 25% by the end of 2013; additional maturity
dates range from 2014 until 2017.
Mara Di Giorgio
Cell: +39 335 7737417 mara.digiorgio@bancaifis.it www.bancaifis.it
Head of Press Office and Public RelationsValeria Costa
Cell: +39 366 5627949 valeria.costa@bancaifis.it
Mymediarelation S.r.l. Banca IFIS Press Office Marco MessoriCell: +39 335 598 58 09
messori@mymediarelation.it www.mymediarelation.it
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