April proceeds were 9% below the average of April 2022 and 2023. DPOs were 37% lower than in the previous two years (-EUR 18m on average) and were responsible for the overall drop. Judicial proceeds were in line (+1%, a mild increase of EUR 0.8m in absolute terms) while note sales rose by 87% (+EUR 2m in absolute terms).

 This confirms the trend of a soft but continued decline in extrajudicial collections. For pre-Covid transactions (issued between 2017 and 2020), extrajudicial collections (DPOs plus note sales) fell by 11% in 2023 vs 2022. For post-Covid transactions (issued from 2021 to 2023) extrajudicial collections in 2023 were 27% above 2022.

Download the latest Italian NPL monthly here.

Stay up to date with Scope’s ratings and research by signing up to our newsletters across credit, ESG and funds. Click here to register.