The company with the name "QQuant Master Servicer Servicing of Loans and Credits Single Member S.A.", has taken over the receivables management of two further significant portfolios from the Athens-based banking company "ATTICA BANK S.A." (the "Bank"). The above management assignment follows the securitisation and transfer of the specific portfolios carried out by the Bank.
More specifically, in accordance with Law no. 3156/2003, the Bank has transferred the following:
- a portfolio of non-performing business loans/credit to a special purpose vehicle (SPV) called "Astir NPL Finance 2020-1 Designated Activity Company" incorporated in Ireland, and
- a portfolio of non-performing loans/retail banking credits to a special purpose vehicle (SPV) called "Astir NPL Finance 2020-2 Designated Activity Company" incorporated in Ireland.
The management of both above portfolios was undertaken, following the signing of the relevant agreements, by the company called “QQuant Master Servicer Servicing of Loans and Credits Single Member S.A.” based in Maroussi, Attica, and licensed by the Bank of Greece for the management of loans and credit receivables.
The above measures are implemented following a decision by the Bank's Board of Directors. As part of this process, QQuant has taken on the management of an additional portfolio from the Bank, which will play a vital role in executing the Bank's business plan. The objective of this undertaking is to enhance the management of these receivables and decrease NPLs even further, with the ultimate objective of supporting entrepreneurship and providing greater liquidity to the Greek market.