Added to YB: 2025-11-12
Pitch date: 2025-11-06
BFF.MI [bullish]
BFF Bank S.p.A.
-15%
current return
Author Info
Company Info
BFF Bank S.p.A. engages in non-recourse factoring and credit management activities towards public administration bodies and private hospitals in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, Slovakia, and Spain.
Market Cap
EUR 2.1B
Pitch Price
EUR 11.10
Price Target
N/A
Dividend
9.70%
EV/EBITDA
N/A
P/E
16.90
EV/Sales
N/A
Sector
Financial Services
Category
special_situation
31. BFF Bank: A Scenario
BFF.MI: Italian factoring bank hit by NPL reclassification rules, banned from dividends until Nov 2025. Securitization of €303M contaging portfolio could release €132M capital (€0.7/share, 7% yield) + €120M annual earnings (6.5% yield). Trading at discount despite low real credit risk from government receivables with 10%+ penalty rates.
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