|Delayed - 01/22 11:35:34 am|
doValue S p A : Servicing Agreement with ICCREA Banca extended to 2.4 billion euro
|11/26/2020 | 10:17am|
SERVICING AGREEMENT WITH ICCREA BANCA
EXTENDED TO EURO 2.4 BILLION
Rome, November 26, 2020 - with reference to the press release issued on August 4th, 2020, concerning a new servicing agreement with Iccrea Banca (parent company of Iccrea Cooperative Banking Group) for the management as Master and Special Servicer of a portfolio of non-performing loans, doValue S.p.A. ("doValue", or the "Company") is pleased to announce that the perimeter of the agreement, initially expected to be of approximately Euro 2 billion (gross book value) has been further extended to reach Euro 2.4 billion.
The servicing mandate between doValue and Iccrea Banca, already a client to the Company, also includes the provision of data quality services and concerns a loan portfolio with a prevalence of secured positions with real estate guarantee, originated by approximately 90 Cooperative Banks and other banking institutions. The portfolio has been securitized according to Italian Law D.L. 18/2016 (GACS), further extending doValue's market leading position in this promising segment.
With this agreement, the total volume of new servicing mandates won by doValue in Southern Europe so far in 2020 reaches 9.7 billion Euro, achieving the pre-COVIDfull-year target of between 9 and 11 billion Euro and confirming the positive outlook of the loan and real estate servicing markets.
doValue, formerly doBank S.p.A., is the leading operator in Southern Europe in credit management and real estate services for banks and investors. Present in Italy, Spain, Portugal, Greece and Cyprus, doValue has some 20 years of industry experience and manages assets of more than €130 billion (gross book value) with over 2,350 employees and an integrated range of services: special servicing of NPLs, UTPs, early arrears and performing positions, real estate servicing, master servicing, data processing and provision and other ancillary services. doValue is listed on the Electronic Stock Market (Mercato Telematico Azionario) operated by Borsa Italiana S.p.A. and, including the acquisition of Altamira Asset Management, recorded gross revenues in 2019 of about €364 million with an EBITDA margin of 39%.
Simona Raffaelli - Emilia Pezzini firstname.lastname@example.org
Investor Relations - doValue S.p.A. Fabio Ruffini 06 47979154
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doValue S.p.A. published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 15:16:01 UTC