THURSDAY, 19/01/2023 - Scope Ratings GmbH

Italian NPL collections: November 2022 relatively aligned with previous two years

Collections on Italian NPL securitisations increased by 9% month-on-month in November. November monthly and year-to-date volumes have been broadly in line over the last three years, at roughly EUR 163m and EUR 1.771bn respectively.

The average share of monthly judicial proceeds on gross collections in the first 11 months of 2022 was 59%. This was in line with 2021 (61%) but below the 2020 average of 69%. In November, no transaction significantly relied on note sales. On a transaction-by-transaction basis, the highest share in November relative to gross proceeds was 22%. That was 60% lower than the average share of the last 12-months.

Total gross proceeds of pre-Covid originated transactions

Source: Scope calculations on servicing reports