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Attica Bank: Assignment of €435 m to Qquant Master Servicer

The servicing of the portfolio will start two months after the signing date. In the meantime, the necessary processes for the transition will be completed.

Attica Bank announced that, following a bidding process, it has signed a contract with Qquant Master Servicer, a loan and credit servicing company based in Marousi Attica, licensed and supervised by Bank of Greece, for the assignment of a portfolio totaling approximately  435 m, which remains in the Bank’s books.

The deal is part of the Bank’s Business Plan for further reduction of its non-performing exposures following the two successfully completed securitizations.

In addition, it will allow the Bank to focus on the further development of its banking activities, focusing on channeling liquidity and supporting entrepreneurship in the Greek market in the current economic environment.

Original Source: Euro2day

Adaptation/Summary: Kiki Athanasiadis