The market for the assignment of receivables and discounts on invoices got off to a slow start, amidst regulatory changes, adjustments to offers, and adjustments to procedures. After taking shape in 2020, it took off in 2021. And with the passing of the months it has reached a gigantic size, probably unpredictable for everyone in the early stages: today we are over 40 billion euros.
A few weeks ago, in a hearing in the Senate, the director of the Revenue Agency, Ernesto Maria Ruffini explained that, at the end of 2021, the credit transfer market, counting the options communicated, had reached 38.4 billion EUR. Almost all of them accumulated over the past year, at an average rate of over three billion per month. In the first quarter of 2022, then, the 40 billion mark was certainly exceeded. Also because, according to Enea data, in the first part of the year new 110% deductions were consolidated for about six billion euros.
Big players on the front line
Looking at the market from the other side, that of the financial system, it turns out that a large part of these credits ended up in the belly of banks and other operators who have proposed to liquidate them. An investigation by Il Sole 24 Ore shows that the most active subject so far has been Intesa Sanpaolo, with 20 billion in loans, including practices already accepted (16 billion) and loans disbursed (4 billion).
The commitment of Poste Italiane is also very strong, which, on the basis of the latest available data, purchased 7.4 billion euros, committing an important part of its total availability (9 billion). Then, there is Banco Bpm, which has 3.5 billion in contractual loans, but which reaches 4 billion considering the customers already involved and which will be contracted in the short term.
Furthermore, there is the Iccrea Group in which each Bcc has an autonomous management of its maximum ceiling in the territory, but which has acquired credits for 1.5 billion to date. UniCredit, between agreed contracts and future commitments, accepted applications for almost 1.2 billion euros. Bper has one billion purchases.
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