SCOPE on Italian NPL Collections
Note Sales hit three-year low in February
Latest Scope Ratings Report show that Italian NPL collections rose just 4% month-on-month in February so were broadly the same as January volumes for the first time in two years. In the two previous years, February collections have been 36% higher.
The difference this year was down to the 99% reduction in note sales to just EUR 150,000, their lowest level since April 2020. Other strategies registered more modest decreases: -24% for DPOs and -3% for judicial proceeds. This underlines the fact that note sales are typically one-offs and not a stable source of recoveries.
The report shows the performance of a static universe of Italian NPL securitisations originated pre-Covid and rated by Scope. The report is based on monthly servicing reports available to February 2023.
Link to the report:
https://scoperatings.com/ratings-and-research/research/EN/173884
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