MONDAY, 12/01/2026 - Scope Ratings GmbH

Italian NPL collections: November sharply underperforms three-year average

Collections in November 2025 were around 40% below the three-year average for the month, and 3% lower than October. In absolute EUR terms, volumes received between September and November were stable in a narrow range.

In line with prior months, November showed a sharp underperformance against historical benchmarks across all recovery strategies: judicial proceeds were EUR 45m below the three-year November average (-40%), DPOs declined by EUR 19m (-44%), and note sales fell EUR 2m (-45%).

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 November 2025.

Download the Italian NPL monthly here.