SACE and AMCO together to share best practices and know-how
SACE and AMCO together to share best practices and know-how in NPE management in Italy and abroad
Memorandum of understanding signed to enhance the respective portfolios of services and areas of specialisation
Rome, November 3rd – SACE and AMCO signed a memorandum of understanding aimed at enhancing NPE management both in Italy and abroad.
According to the memorandum, SACE – through SACE SRV, specialised in credit recovery in Italy and abroad – and AMCO Asset Management Company – which operates in the purchasing and management of NPEs in the Italian market – have agreed to collaborate and share best practices and know-how in credit management in the domestic and international markets, with the aim of improving effectiveness and efficiency in NPEs valorisation.
More specifically, SACE will offer its know-how to manage AMCO’s loans abroad through SACE SRV, its affiliate and the only company in Italy specialising in credit recovery in the most remote foreign locations characterised by complex credit protection. In turn, AMCO will be available to collaborate with SACE in the management of domestic loans, leveraging the flexibility and high specialisation of its operating platform.
“With this agreement – commented SACE CEO Pierfrancesco Latini – we strengthen our countercyclical role to support Italian businesses and the country’s recovery. For SACE, committed in this direction, AMCO is a strategic partner for synergic collaboration in a crucial sector for market stability such as NPEs management and restructuring, where our experience and best practices can make a difference.”
“By leveraging SACE’s know-how and extensive international network, we plan to further strengthen our management of foreign positions acquired as a part of de-risking processes,” stated AMCO CEO Marina Natale. “At the same time, we will be able to support SACE by leveraging our economies of scale and specialisation in the domestic market, with the aim of facing the challenges of the post-pandemic scenario.”