Qualco participates in a €9bn NPL project for the Bank of Greece

13 April 2016 | Newsdesk
Qualco participates in a €9bn NPL project for the Bank of Greece

Qualco proudly announces its partnership with the Bank of Greece as shareholder of PQH, a consortium established by Hoist Finance, Qualco S.A. and PricewaterhouseCoopers Business Solutions S.A.

Bank of Greece recently announced the appointment of PQH Single Special Liquidation S.A. as the sole Liquidator for the 16 Greek banks under special liquidation, with a view to ensuring a more efficient management of their assets, incorporating economies of scale and best practices. This is a key appointment in an effort to ensure the effective management and improved performance of the banks’ assets, for the benefit of the public interest.

The total assets under special liquidation amount to about EUR 9bn, consisting almost entirely of non-performing loans. This project is of the highest priority for Qualco Group and a major opportunity, as the selection by the Bank of Greece signifies a recognition of Qualco’s experience and expertise in delivering best in class Debt Portfolio Management systems and services.

Qualco’s Group CEO Orestis Tsakalotos commented:

“The selection of PQH by the Bank of Greece via a tender process demonstrates the value of the proposal submitted, incorporating the expertise and proven track record of Qualco as a partner for entities wishing to efficiently manage their NPLs.

Qualco’s complete offering ranging from state of the art technology, Business Process Outsourcing (BPO) services and advanced analytics, aims to provide optimal solutions to our customers addressing end-to-end, all debt related business and operational requirements.

I would like to thank our team for their commitment and effort during the tender process and I am looking forward to collaborating with our partners for the successful implementation of the project.”