THURSDAY, 30/10/2025 - Scope Ratings GmbH

Italian NPL collections: volumes rebound sharply in September but remain below three-year average

Italian NPL collections in September nearly doubled compared with August (+95%). However, they remain significantly below the levels recorded in the same period last year, a trend that has persisted throughout the year.

September collections were down 39% year-on-year and also fell short of the three-year monthly average.

All recovery strategies underperformed relative to historical averages. Judicial proceeds declined by 34% (EUR 35m), while DPOs and note sales dropped by 52% and 72%, respectively (EUR 23m and 15m) compared with the average for September in 2022-2024.

This report shows the performance of a static universe of Italian NPL securitisations rated by Scope and is based on monthly servicing reports available to September 2025.