21 May, Bebeez
Crèdit Agricole Italia is currently working on a UTP operation amounting to approximately 100 million euro, corresponding to nearly all the bank’s UTP at the end of 2019. The bank is also exploring the possibility of a servicer mandate to manage impaired loans for about one billion euro. Illimity, doValue and Intrum are among the candidates.
Source: Bebeez
Translator: Cristina Ambrosi
07 February, Il Messaggero
Banca Sella and B2 Kapital have recently entered an agreement for a partnership aimed at acquiring and managing secured and unsecured NPLs of third parties. Thanks to the operation, Banca Sella will be able to acquire NPL portfolios, while B2 Kapital will become a servicing platform open to external investors too.
Source: Il Messaggero
Translator: Cristina Ambrosi
02 December, Milano Finanza
doValue reached an agreement with UniCredit concerning the exclusive management of a non-performing residential mortgage portfolio for a GBV of 6.1 billion euro. The agreement implies the securitisation of the non-performing mortgage loans backed by assets included in the Prisma project, the biggest NPL project in Europe.
The credits are already under the management of doValue, as per the agreement entered with UniCredit in 2015. This new agreement, however, appoints doValue as the special servicer for the securitisation and as the master servicer for the portfolio, strengthening in this way the leadership of doValue in the Southern European servicing market.
Source: Milano Finanza
Translator: Cristina Ambrosi
27 July, Milano Finanza
Between 2015 and 2018, NPEs for 190 billion euro were transacted. Impaired loans had dropped to 180 billion in 2018 from the original 341 billion of 2015. The NPL market reported transactions for other 16.5 billion euro in the first seven months of 2019, and an additional 45 billion euro is expected for the end of the year.
Concerning servicers, in 2018 were collected credits for only 7.8 billion euro of the 82.3 billion appointed to servicers, while the collection rates have been progressively decreasing with the years. The considerable stock of NPLs, in fact, means significant amounts assigned to credit collection, but also a reduction of the collected values and an increase of the collection costs, resulting in reduced profitability.
Source: Milano Finanza
Translator: Cristina Ambrosi
24 July, Azienda Banca
The NPEs volumes on the Italian market kept reducing until reaching 180 billion euro at the end of 2018. Band loans had gone from 200 to 97 billion between 2015 and 2018.
Banks aim at further reducing their NPE ratio by approximately 1.6%, with a focus on UTPs, resulting in an increase of the debt collection activity.
Meanwhile, the servicing market is getting stronger, with five main players registering 53% of the revenues for the sector.
Source: Azienda Banca
Translator: Cristina Ambrosi
07 June, Il Sole 24 Ore
Unicredit launched Sandokan 2, the co-investment plan in collaboration with Pimco, Gwm and Aurora Recovery Capital concerning the management of real estate credits. The portfolio amounts to 2 billion euro, mainly consisting of UTPs.
Pimco is said to provide 70% of the equity, while Gwm will provide the remaining 30%. Aurora Recovery Capital will act as a special servicer.
The plan aims at increasing the future value of the impaired loans through a proactive management and the issuance of new loans whenever deemed necessary. Unicredit is not meant to deconsolidate the portfolio, although this possibility is not excluded in the future. The credits will be transferred in various tranches to the special purpose vehicle Yanez Spv.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
04 June, Milano Finanza
Intrum bought 80% of the Piraeus Bank servicing platform, allegedly valued 410 million euro. Thanks to this acquisition, the servicer will have assets under management for 27 billion euro.
The NPLs of Piraeus will be securitised, and Intrum is expected to be one of the main buyers of the notes.
Source: Milano Finanza
Translator: Cristina Ambrosi
04 May, Milano Finanza
Intesa Sanpaolo is currently negotiating a deal with Prelios concerning its UPTs amounting to 10 billion euro in total. The servicer might acquire a UTP portfolio for four billion and manage UPTs for other six billion which would be still held by the bank. Although the selling price for the portfolio hasn’t been disclosed yet, it might be sold at 50-55% of its nominal value with a 36.2% coverage.
Source: Milano Finanza
Translator: Cristina Ambrosi
05 April, Teleborsa
The platform will carry out all the servicing activities related to NPLs, both directly acquired by the bank and on behalf of third parties. Illimity currently manages NPLs for 1 billion-euro gbv.
Meanwhile, the bank also started a partnership with IT Auction, a company specialised in the management and marketing of real estate assets acquired through insolvency proceedings.
Source: Teleborsa
Translator: Cristina Ambrosi
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