Servicers are adapting the solutions they provide to companies to assist them in the new economic conditions, as they have successfully done during the pandemic, said Maria Vergi, Deputy General Manager, Head of SME Recovery at Intrum Hellas, speaking at the Fin conference Forum 2022.
Ms. Vergi referred to the high level of response of servicers, banks and the state during the pandemic and the speed and efficiency with which all parties acted to deal with its financial impact.
“At Intrum Hellas we offered specialized arrangements of over 5 billion euros and moratoria that exceeded 3.5 billion euros while we helped borrowers to take advantage of all available measures, including the Bridge II program where we included more than 1,200 companies,” he said. Mrs. Vergi. As he added, the company helps its customers to join government NSRF programs, grants and more, providing them with specialized advice for programs in which they were eligible based on their geography, industry and other characteristics while offering them a special help desk, completely free .
In the vast majority of companies, the loan arrangements that were in force, modified and adjusted based on the new business plans of each company, depending on its industry and its own particularities, with the result that the effects of the pandemic on businesses located around Intrum have significantly addressed, said Ms. Vergi.
He pointed out that the recent conditions and especially the increase in energy costs and raw material costs, which with the current situation in Europe, it is not visible today how long they will last, create new and serious challenges.
“And here we will be next to our customers as we have already proven with our actions during the pandemic crisis. Having very important know-how to understand the reality of each customer, for sustainable customers, we will provide the appropriate solutions,” he said. He added that Intrum Hellas, with targeted moves in specific sectors, seeks to improve the competitiveness of companies by looking for investors who, by financing these companies, will contribute to improving their market position and efficiency.
Such a transaction is already underway for 74 4, 5 and 5 star hotels with 4,300 rooms, which has attracted a great deal of interest, while similar moves are imminent in other industries.
With the help of the macroeconomic environment, large loans will return “cured” to the banks in 2022, Ms. Vergi estimated. Intrum Hellas has already repaid business loans over 650 million euros and implements a corresponding repayment plan for all loans related to sustainable businesses, while similar moves are made in private loans managed by the company. In the context of business support, Intrum Hellas, in cooperation with Piraeus Bank, even for securitized loans, maintained all the contracted and recycled limits of working capital and guarantees, so that companies can continue seamlessly their activity.
Especially for securitized loans, an important parameter of effective management is the greater ability to provide multiple solutions, tailored to the needs of customers that servicers have.
Referring to the activity in the real estate market, Ms. Vergi stated that Intrum Hellas, especially in business portfolios, manages about 100,000 properties while the specialized real estate management company Intrum Hellas REO Solutions manages about 8,000 properties, which will increase significantly in the coming years. The company utilizes the Group’s know-how in the utilization of real estate related to red loans and provides a full range of services, from analyzes and opinions, portfolio transaction support, technical maturation of properties, management of reclaimed properties (REOs) and their effective promotion sale.
“For a variety of properties, this is done on a consensual basis and in cooperation with the clients under management. After agreeing with them the fair price of each property for sale, Intrum Hellas REO Solutions undertakes the promotion of the property in the market through the very extensive network of contacts with investors, brokers and specialized platforms, with the result that real estate is available in the best way and at the best time, enhancing the viability of businesses. which will now produce value for their new owners but also for the economy of our country as a whole “, concluded Mrs. Vergi.
Source: Capital
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