Gardant Group was born in 2021 from the reorganisation of the Credito Fondiario Banking Group as specialised hub in the activities of managing and investing in non-performing loans.
Today, Gardant is a leading operator in Italy with over EUR 40 billion in managed loans, approximately EUR 20 billion in special servicing loans, and EUR 1.2 billion in investments made in non-performing loans (purchase price).
November: doValue completes the acquisition of 100% of the share capital of Gardant S.p.A..
January: Gardant successfully concludes a long-term partnership agreement in the special servicing sector with one of the leading Italian banks, BPER Banca S.p.A.. As part of the agreement with BPER Banca S.p.A., the joint venture Gardant Bridge Servicing S.p.A. was established.
Gardant Group was born in 2021 from the reorganisation of the Credito Fondiario Banking Group as specialised hub in the activities of managing and investing in non-performing loans.
Today, Gardant is a leading operator in Italy with over EUR 40 billion in managed loans, approximately EUR 20 billion in special servicing loans, and EUR 1.2 billion in investments made in non-performing loans (purchase price).
During the year, Credito Fondiario exceeded EUR 1 billion in cumulative investments (purchase price) in the Italian impaired and illiquid loans sector, positioning itself as one of the largest investors in this market.
Credito Fondiario successfully concludes two long-term partnership agreements in the special servicing sector with two leading Italian banks, Banca Carige S.p.A. (as of December 2017) and Banco BPM S.p.A. (as of December 2018). As part of the agreement with Banco BPM, the joint venture Gardant Liberty Servicing S.p.A. was established.
At the end of 2013 Credito Fondiario (then called FonspaBank) is acquired by Tages Holding and a group of Italian entrepreneurs, with the aim of transforming it into a reference operator in the nascent secondary credit market in Italy, operating both as servicer and investor.
The bank changed its mission, joining a US international group, specialising first (in 2000) in securitisation servicing and then (since 2006) in retail mortgage lending, under the name Credito Fondiario — FonspaBank.
Following the banking reform, the bank extended its operations to medium/long-term industrial loans, changing its name to Credito Fondiario e Industriale — Fonspa — Istituto per i Finanziamenti a Medio Lungo Termine S.p.A.
The bank’s shares were listed on the Milan Stock Exchange, where they remained until they were delisted in 2001 following a change in ownership.
The bank became part of the IRI (Istituto per la Ricostruzione Industriale, “Institute for Industrial Reconstruction”) galaxy, with the transfer of control to Banco di Roma, Comit and Credit (1960). In 1965 it took the name Credito Fondiario S.p.A. The bank financed itself by means of mortgage bonds.
After the Second World War, the bank expanded its activities with the possibility of financing public works and granting industrial land loans, extending its operations to almost the entire Italian territory.
The bank was founded in Cagliari on 28 April 1898 as Credito Fondiario Sardo S.A., specialising in the provision of mortgages in Sardinia and Rome.