Partnership with Italian servicers
AMCO CONSOLIDATES AND EXPANDS ITS PARTNERSHIP WITH LEADING ITALIAN SERVICERS
- The number of servicers managing NPEs in outsourcing on behalf of AMCO increases to 12
- Outsourcing management of specific clusters of NPEs provides AMCO with a high degree of operational flexibility
Milan, 1 February 2021. AMCO announces the conclusion of a competitive process for the outsourcing of specific clusters of NPEs, following the acquisition of the MPS portfolio.
Active collaboration with an increasing number of leading servicers in the Italian market allows AMCO to continue leveraging on its operating model.
AMCO’s operating model creates scale efficiencies also through the outsourcing of granular positions, benefiting from the specialization and economies of scale of its partner servicers.
The competitive process was launched in October 2020 and involved c. 40 servicers. Servicers’ offers have been evaluated on the basis of well-defined selection criteria, taking into consideration the level of specialization in managing credits, operational skills, performance levels and track record.
As a result of the process, AMCO assigned to the following 11 servicers the outsourcing management of c. €3.3bn of NPEs, related to approximately 72,000 debtors: AT S.p.A., Banca Ifis, Cerved Credit Management S.p.A., Covisian Credit Management S.p.A. (former CSS), Credito Fondiario S.p.A., CRIBIS Credit Management, doValue Group (doValue S.p.A. and Italfondiario S.p.A.), Fire SpA, FININT REVALUE SPA (Gruppo Finanziaria Internazionale), Intrum Italy, Sistemia S.p.A..
The number of servicers managing specific clusters of NPEs in outsourcing on behalf of AMCO is therefore increasing from 7 to 12.
In this competitive process AMCO has been assisted by Prometeia, acting as advisor for the analysis and assessment of servicers’ offers, and by Studio Legale Cappelli – RCCD, acting as legal advisor.
