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Italian NPL collections: 11-month 2023 volumes 23% below previous two years; fewer note sales
Most collections in November 2023 came from judicial processes, at the expense of extrajudicial, confirming the trend for 2023. Only two transactions generated proceeds from note sales in November. In fact, in the first 11 months of last year, fewer transactions conducted note sales than the monthly average of the last two years: four in the first 11 months of 2023 vs. seven in both 2022 and 2021. DPO proceeds were also very low and this also contributed to the gap between 2023 and 2022/2021 proceeds.
Total gross proceeds of pre-Covid originated transactions
Source: Scope calculations on servicing reports
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