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Greece: doBank buys servicing licence and is renamed to doValue

doBank has withdrawn from banking in Greece and turned to servicing. The company’s name is now doValue Hellas and has come to the hands of Fortress.

Reportedly, doValue is struggling to get through the Solar Project, facing many difficulties. The project consists of €1,8 bn worth non-performing debt of more than 300 Greek small and mid-sized businesses, held by Piraeus, National, Eurobank and Alpha Bank.

Since last August the results are close to zero, as the suggestions by doBank were not imposed.

The company’s transformation into a servicer allows it to become more aggressive in the market that is expected to liven up in the next months.