Eurobank is expanding its activities in non-performing loans portfolio management through “Eurobank Financial Planning Services (Eurobank FPS)”, a 100 pct subsidiary of Eurobank Group, which will be operating in the new market for loans management companies (L.M.C.), based on the new regulatory framework for the management of non-performing loans in Greece.
Eurobank FPS, is the first subsidiary of a bank, which has obtained the required license from the Bank of Greece, to manage receivables in the Greek market.
The basic objective of Eurobank FPS is, by priority, to search for amicable solutions for debtors and the management of NPLs, emphasizing in the consolidation of portfolios through innovative methods, advanced IT systems, specialized financial advisors and new products.
Eurobank FPS will be managing a 14 billion euros portfolio, consisting of both small business and individual type of debts (i.e. mortgages and consumer loans), from the first months of its operation, while it also targets to expand to the management of third party portfolios, investing in the best practices both from local and international markets.
Eurobank FPS, evolved from the transformation of «Eurobank Financial Planning Services Société Anonyme» to an operating company in the context of the new regulatory framework. A legal merger with «Eurobank Remedial Services Société Anonyme» will follow as well as a further development of the new company with units and services, in line with the new regulatory framework, utilizing the developments that, dynamically, shape Greek and international market in debt management issues.
The mission of Eurobank FPS is to strengthen its effectiveness, under transparency rules, through maximizing the use of strategies, infrastructure, systems and human resources, while demonstrating social responsibility throughout its activities.-