Intrum: The opportunities, challenges and solutions of management companies for NPEs

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In the current context, despite increased macroeconomic uncertainty, the non-performing loan management landscape, with about € 100 billion already managed by management companies, is more mature than ever, said Alexandra Fatsea, CEO, Retail , SB & Agri Recovery by Intrum Hellas, talking about the opportunities and challenges and effective solutions of management companies.

Speaking at the Banking Summit, Alexandra Fatsea said, among other things, that the new Out-of-Court Mechanism is the most appropriate solution, for thousands of individuals but also small and medium-sized businesses, which need a settlement solution for all their debts, both to financial institutions and and to the State, pointing out that it is now operating effectively, through the Electronic Platform, which has already received about 35 thousand applications. “The first arrangements are just around the corner to be implemented, as of the approximately 3,000 applications that are at a very advanced stage, 20% have already been approved and in fact the first 50 arrangements have already been signed by creditors and debtors.”

Mr. Fatsea enumerated the advantages of the Out-of-Court Mechanism: transparency, fair solutions, fully electronic experience for borrowers and creditors, simultaneous settlement of all debts to Financial Institutions and the State. For the first time, all this together, provides a solution that is beneficial and suitable for all parties, he said characteristically.

Asked about the effects of the crisis on the loan portfolios monitored by the management companies, the General Manager of Intrum Hellas pointed out that at present there are no significant negative effects on the key payment or default ratios. “There are individual cases of debtors who need to adjust their planning due to an increased electricity bill. But they are adequately addressed, through a well-coordinated effort of our specialized teams, who have the know-how and all the tools they need. At Intrum “Hellas, we attach great importance to honest and constant communication with our customers, supporting them to face the difficulties and to succeed”, he said.

Regarding the return of companies and individuals from management companies to the banking system, with the aim of refinancing, Ms. Fatsea noted that this is the primary goal of Management Companies. “Our role is not limited to providing a good regulation and monitoring its observance. Our primary goal is the return of debtors who will be rehabilitated, to a healthy economy. Until then, as we do at Intrum Hellas, there are tools we can use “such as business financing lines that have been included in the securitization business plans but also the consulting to small and medium enterprises to use the NSRF programs as well as finding funding for specific sectors, such as hotels”.

Source: Capital

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