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Strategy and Equity Story

doValue is the leading operator in Southern Europe in credit management and real estate services for banks and investors, present in: Italy, Spain, Portugal, Greece and Cyprus.

doValue operates through long-term servicing agreements with banks and international investors specialized in NPLs and UTPs, and an “asset-light” business model that does not include direct investments in NPL portfolios.

 
€ 363,8 mln revenues
at 31 December 2019
€ 131,5 mld GBV
at 31 December 2019
2,393 employees
at 31 December 2019
 

Between 2018 and 2019 doValue went through a strong expansion and deep diversification phase, with the entry first in the Greek market with a mandate from the four systemic local banks and later in the wider southern European market, with the acquisition of Altamira Asset Management. 

doValue’s development in the Italian market continued with the acquisition of new management mandates from banks and investors, in particular with the leadership in services of securitisation operations backed by the “GACS” government guarantees.

The doValue Group operations are focused on the provision of services to banks and investors through the entire lifecycle of loans and real estate assets (“Servicing”).

DoValue's activities are governed by an IT infrastructure which makes available to its customers allows to optimize the credit management process, improving predictive skills and the ability to anticipate market trends.

Both doValue and Italfondiario, in their capacity as special servicers, have received the following ratings: “RSS1-/CSS1-“ by Fitch Ratings, and “Strong” by Standard & Poor’s. The Servicer Ratings assigned to doValue and Italfondiario are the highest of those assigned to Italian operators in the sector and were assigned to doValue and Italfondiario in 2008, before any other operator in this sector in Italy. In 2017, doValue was also assigned a Master Servicer rating of “RMS2/CMS2/ABMS2” by Fitch Ratings, which was also improved by a notch in 2019.

The Group’s growth path is charachterized by the combination of  orgnic development and M&A transactions like:.

Altamira Asset Management acquisition 

doValue on June 27, 2019 has completed the acquisition of an 85% stake in the capital of Altamira Asset Management, is a prominent player in the credit and real estate asset management sector, with operations in Spain, Portugal, Cyprus and Greece with assets under management of approximately €55 billion, consideration equal to €360 million.


Eurobank FPS Loans and Credits Claim Management Company acquisition

doValue on June 5, 2020 has completed the acquisition of 80% of the share capital of Greek servicing company FPS from Eurobank.
FPS, with a loan servicing portfolio cof approximately €23bn (gross book value), is a leading player in the Greek loan and real estate servicing market, active since 2014 with an independent, pure servicing business model which does not envisage investments in loan or real estate portfolios. The agreement includes an exclusivity on Eurobank future NPE production for 14 years.
The completion of the FPS acquisition, expected by May 2020, represents a further step forward in the achievement of the Group’s 2020- 2022 business plan, which aims at the strengthening of doValue’s leadership in the servicing market in southern Europe through an asset-light business model which does not require direct investments in assets portfolios and pursuing an increasingly greater diversification in the credit value chain.