Launch of SME Business Unit in Spain
doValue S.p.A. (“doValue”, the “Group”) communicates that, in line with Business Plan 2022-2024 presented to the market on January 26th, 2022, its subsidiary Altamira Asset Management has formally set up a business unit dedicated to the management of Non-performing Exposures (NPE) related to Small and Medium Enterprises (SME) in Spain and that it is significantly investing in its development.
The SME business unit employs about 40 professionals and is currently managing approximately €3 billion of Gross Book Value, a level which is expected to grow over the next few quarters. Whilst the current GBV is mainly composed of Non-performing Loans (NPL), as part of the development of the SME business unit is to further expand also in the Unlikely to Pay (UTP) and Early Arrears segments.
The key strengths of the SME business unit are its broad territorial presence (which mirrors the granularity of the SME segment), the fact that it is fully integrated with the doValue Group from a technological and IT systems point of view and that it can leverage on the Group best in class practices already well developed in Italy and in Greece.