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There are some 1,800 borrowers with 3,400 mortgage loans who are about to return to the banking system, as they are now servicing their debts normally. These are loans worth €230 million, which had turned nonperforming in the past, but after arrangements they returned to being serviced.
The portfolio was purchased by the doValue group as part of the securitization of bad loans under the name Cairo 2, which Eurobank had carried out in 2020. These loans, having been complied with by their debtors, are now considered remedied and in this way thousands of households that found themselves in difficulty during the crisis, but proceeded to regulate their debts and are complying with its terms, can return to full banking normality. DoValue Greece will continue to act as portfolio manager after the sale is completed, ensuring continuity in the management and monitoring of the loans for the benefit of new investors.
Their resale on the secondary market, like to another fund, is the first step in this process, since based on the rules of the European Banking Authority, the banks that have sold these loans through securitizations cannot repurchase them directly from the funds to which they sold them.