Barclays signs agreement with Banca IFIS to sell €190m Italian loan book 26 May 2017 14:52 Barclays has agreed the sale of a portfolio of largely non-performing, unsecured consumer Italian loans and receivables to Banca IFIS. The portfolio forms part of Barclays Non-Core and has a nominal value of c.€190 million of gross receivables. Banca IFIS is a specialty finance player specialized in financing SMEs with a complete range of financial tools, from short term to medium/long term finance. It is also a leader in the Italian NPL market and it is present in the tax receivables sector. Harry Harrison, Head of Barclays Non-Core commented: “As we near the closure of Barclays Non-Core in June 2017, we continue to maintain momentum in reducing RWAs, and simplifying Barclays footprint.” "This operation is new as it is the first time we have purchased a portfolio containing both non-performing and performing loans” said Andrea Clamer, Head of Banca IFIS’s NPL Area, who sent on to say: “In a market with increasingly lively dynamics, where the choice to dispose assets is now considered a primary strategic option, we continue to evaluate all possible transactions in line with our strategic pillars which are the right profitability for the risk taken on and balanced capital absorption." Barclays completed the sale of its Italian retail banking network to CheBanca! in August 2016. Barclays continues to operate its investment banking and corporate banking business in Italy. About Barclays Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website www.home.barclays .