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Greece: NPLs of over €20 bn passed to servicing companies

NPLs worth over €20bn have passed to the Greek servicing companies. The Greek banks have committed to clean up their loan books and are about to sell another 30bn-worth bad debt portfolios, raising the total number to €50bn.

According to Tassos Panoussis, head of the Association of the Servicing Companies, 17 servicers have gained a servicing licence so far. The market is expected to develop rapidly after the implementation of the securitisation scheme, and the replacement of the framework protecting the main residence.

The licensed servicing companies in Greece are the following: CEPAL, FPS, THEA ARTEMIS, Pillarstone, UCI, Resolute Asset Management, Independent Portfolio Management, B2Kapital, QQuant, DV01 Asset Management, Special Financial Solutions, Hoist, LPN CAPITAL, MELFIN, APS, Cerved Credit Management and EOS Matrix Greece.


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