Mar 08th 2013 - Edison Investment Research today published a report on Banca IFIS entitled "Venetian Galani". In summary, the report says:
Gruppo Banca IFIS’s (IFIS) core business is SME trade receivable financing, which is delivering good growth as other Italians bank increasingly restrict their lending. The two acquired counter-cyclical businesses in non-performing loans and in insolvency-related tax-rebate receivable financing have delivered on plan. The icing on the galani has been the spread on a portfolio of Italian government bonds (recently increased to €7.2bn) where there are unrecognised gains of €74.5m.
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