05:24 AM EDT, 09/25/2026 (MT Newswires) -- Banca Ifis (IF.MI) secured the Bank of Italy's unconditional approval to integrate illimity Bank into the group, with completion expected within the financial year. The Italian lender said Friday it confirmed its target of 75 million euros in annual synergies from 2027. Banca Ifis also received nonbinding bids for its entire nonperforming loan business and launched a second phase of the sale process, which it aims to complete by the end of 2026. A binding offer will be executed after regulatory approvals.

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