Strategy and Equity Story
doBank is among the leading players in Southern Europe in the management of non-performing loans on behalf of banks and investors, market leader in Italy and with a significant presence in Greece.
doBank operates through long-term servicing agreements, an “asset-light” business model that does not include direct investments in NPL portfolios and benefits from established commercial partnerships with banks and international investors specialized in NPLs and UTPs.
€234 mln revenues
With over 18 years of track record in the Italian market, following the acquisition of Italfondiario in 2016, the doBank Group has become the main independent Servicer specialized in NPL management with EUR 82 billion of GBV at the end of 2018, approximately one third of the total market for NPLs and UTPs.
In 2018, following a competition involving the main servicers in Europe, doBank was awarded its first international mandate, a EUR 1.8 billion portfolio originated by the four Greek systemic banks, managed by the local branch doBank Hellas, tasked with the mission to develop the Group’s activity in the promising Greek servicing market.
At the end of 2018, doBank has moreover announced an agreement for the acquisition of Altamira Asset Management, a leader in Southern Europe in the credit and real estate management market, with assets under management of approximately EUR 55 billion and a presence in Spain, Cyprus, Portugal and Greece. The combination of doBank and Altamira, following the closing of the transaction expected by May 2019, creates the leading European player in credit management, with a focus on Southern European markets characterized by more than EUR 650 billion of non-performing assets.
doBank’s activity is entirely focused in the management and collection of loans, mainly non-performing, through a complete offering which includes ancillary services connected to the core servicing activity, such as due diligence, real estate, legal, data governance and data quality services. doBank is a partner to banks and investors for the entire credit management process.
For more than 10 years, doBank has boasted the highest Servicer Rating of the Italian market assigned by S&P and Fitch Ratings. doBank and Italfondiario were the first Italian players of this industry to achieve such acknowledgement in 2008.
Due to its size, experience and the technologically advanced and scalable IT platform, doBank is able to on-board and manage the inflow of new loans, even of significant size.
The doBank Group intends to pursue the strengthening of its Leading Position in the European NPL management industry by continuing to:
- Increase both the volumes and the profitability of its own core business, with growth opportunities in Italy and Greece
- Expand its business in Ancillary services
- Improve its operational efficiency through the development of its proprietary IT platform
- Maintain a high cash flow generation and shareholder remuneration