DoValue and Bain Capital have signed a deal for the servicing of Icon portfolio (NBG). More specifically, doValue announced the signing of a memorandum of understanding with Bain Capital Credit, for the exclusive management of a non-performing loan portfolio of total receivables of almost €2.6 bn.
The portfolio was bought from the National Bank of Greece and consists mainly of secured loans of large, medium and small businesses, from more than 1,500 debtors all over Greece. The agreement includes a wide range of actions to prepare for portfolio integration and management, to be carried out by doValue Greece (formerly Eurobank FPS), with a view to initiating active servicing within six months.
DoValue strengthens its leading position in the domestic market of independent servicers and strengthens its relationship with Bain Capital Credit, which is already a customer of the doValue Group in Spain and Italy.
Original Source: Capital.gr
Adaptation/Summary: Kiki Athanasiadis