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doValue: 2 new proftolios to service in Greece for 1 bn GBV

doValue has announced the signing of two new servicing contracts in Greece through its subsidiary, doValue Greece Loan and Credit Claim Management Company S.A. (“doValue Greece”), totaling approximately €1 billion Gross Book Value (GBV) .

The first contract, called “Project Amoeba,” involves the management of a portfolio of both secured and unsecured non-performing loans (NPLs), comprising retail and corporate receivables, with a total value of approximately €800 million GBV. This agreement was signed with Bain Capital Credit and represents a significant expansion of the quality and quantity of assets managed by doValue in Greece, further strengthening the relationship with Bain Capital Credit.

The second contract, “Project Heliopolis II,” covers the management of a portfolio of NPLs worth approximately €202 million GBV and was signed with EOS Group, a global leader in the credit industry. This portfolio consists of 5.5 thousand loans distributed among consumer, SME and mortgage loans, involving more than 4 thousand borrowers and representing a total of €474 million in receivables.

Together, these deals total approximately €1 billion GBV and, combined with the mandate with Attica Bank announced last March, bring the total expected GBV for doValue Greece since the beginning of the year to €1.5 billion. This achievement confirms doValue Greece’s position as a market leader in both primary and secondary market operations, putting the Company in a position to achieve its business goals for 2024.

The doValue Group is the leading player in Southern Europe in the management of credit and real estate portfolios derived from impaired loans. With more than 20 years of experience and approximately €116 billion in assets under management as of December 31, 2023, spread across Italy, Spain, Portugal, Greece and Cyprus, doValue contributes to the economic growth and sustainable development of the financial system.

The Group offers an integrated range of credit management services including servicing of Non-Performing Loans (NPLs), Unlikely To Pay (UTP), Early Arrears, Performing Loans, Master Legal, Due Diligence, data management and Master Servicing activities. In 2023, doValue reported gross revenues of €486 million and EBITDA excluding nonrecurring items of €179 million. doValue’s shares are listed on the STAR segment of Euronext Milan (EXM).

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Blogger and Investment Management Advisor with focus on Distressed Assets & NPL. Massimo is Chief NPL & Fintech Editor at Credit Village Magazine.

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