Siena NPL 2108 the largest securitization about an italian NPL Portfolio, originated by Banca MPS Group continues to underperform in the activities of debt collection. The latest check carried out at the end of April by DBRS reveals recoveries in the last quarter of approximately of 108 million of Euro compared to the Euro 143 million expected in the business plan. Overall recoveries are 21% less than expected (3,669 Billion of euro against BP’s 4,996 Billion of euro)
The NPLs Portfolio is managed for debt collection activities by the main italian servicers Cerved, Gardand, Do Value and Prelios.