Centrale Credit Solutions and Prelios Innovation: first sale on the BlinkS platform
Trento-Milan, July 21, 2020 – Prelios Innovation and Centrale Credit Solutions, a company in the Cassa Centrale Banca – Credito Cooperativo Italiano Group that arranges non-performing loan sale transactions for its banks, announced the completion of the first sale on the Prelios BlinkS platform, a sole-name mortgage originally granted by a bank in the Cassa Centrale Group.
“We are delighted with this result, which comes just a few months from the start of our partnership with the Cassa Centrale Group, and despite the tight restrictions on operations due to COVID-19,” said Gabriella Breno, CEO of Prelios Innovation, the Prelios Group’s Fintech company. “The joint road-show in February, when we presented BlinkS to all the Cassa Centrale regional managers, and the adherence of the banks confirmed that the rationale behind the commercial agreement was correct, and this first sale demonstrates the effectiveness of our platform, also for primary-market transactions.”
Fabio Pansini, who handled the launch of the partnership for Centrale Credit Solutions and coordinates the various banks on NPL operations, said: “After an initial running-in period, the operating partnership with Prelios Innovation for the use of the BlinkS platform is beginning to produce results. We expect to see an increase in transactions once the platform is fully operational in all the Group’s banks, giving them an additional tool for proactive management of distressed loans.”
The three-year agreement will soon be extended to other types of loan – UTPs in primis – to continue supporting the Cassa Centrale Group in its NPE deleveraging program.
The Cassa Centrale Group
Established in 1974, Cassa Centrale Banca has always been a reference partner for Credito Cooperativo whose values, culture and strategies it shares. It has built a reputation for reliable innovative products and services and highly specialized consultancy. The new structure with Bancario Cooperativo Group combines the values and autonomy of the credit cooperatives with the coordination and activity of the parent.
The Cooperativo Cassa Centrale Banca – Credito Cooperativo Italiano banking group comprises 80 banks with over 1,500 tellers across Italy, more than 11,000 collaborators and over 500,000 members. Own funds totaling 6.7 billion euro and a CET1 ratio of 19.7% make it one of the most solid groups in the country.
The Prelios Group is the gateway to Italian real estate and the leading player in alternative asset management, distressed loan management and highly specialized property services.
With more than 40 billion euro of assets under management and over 10 million square meters of managed property, the Prelios Group provides a complete range of services and skills to manage property portfolios and distressed loans, and is the only Italian player with the capabilities to act in every phase of the Italian real estate and economic cycle.
One of the main Italian non-performing loan servicers, Prelios is the first mover in bank unlikely-to-pay credits and the leader in NPL securitization with the GACS state guarantee. With BlinkS (blinks.prelios.com) it has established the first digital NPE marketplace in Italy and one of the first in Europe.
The Prelios Group is also a leading player in the management of real estate investments, both directly through funds and SICAFs and indirectly through credit funds. Prelios SGR – the Group’s asset management company – handles assets of 5.9 billion euro through investment strategies implemented strictly in compliance with the principles of environmental sustainability, good governance, ethical and social responsibility.
For more information, visit prelios.com.