MONDAY, 08/04/2024 - Scope Ratings GmbH

Italian NPL collections: note sales fall to almost zero in February

February 2024 Italian NPL collections of EUR 114m were 15% up month-on-month but 18% below the February average of the three previous years.

Note sales fell to virtually zero (EUR45k) compared to an average of EUR 11m in the same month of the three previous years. This is the lowest since we started publishing this monthly report in April 2020 and continues the decreasing trend we outlined in 2023.

And while collections from judicial strategies and DPOs in February were proportionally comparable to the pre-2021 period, they still did not fill the hole left by the reduction in note sales because in absolute EUR terms, proceeds from judicial strategies and DPOs were 11% and 22% below the February average of the previous three years.

Total gross proceeds of pre-Covid originated transactions
Source: Scope calculations on servicing reports