Non-performing loans, My Credit ready to ride the new wave of NPLs in 2024 with acquisitions and sales

Milan Finance published an interview with our CEO Mirko Tramontano to take stock of the prospects for the NPL market in Italy for this year and next. According to Mirko, ‘the entire credit recovery sector has been evolving rapidly for some years now, keeping pace with technological innovation and regulatory changes [...] and this trend leads us to believe that the market will move towards further reducing volumes, perhaps even at a faster pace.’ Furthermore, the biggest challenge to be faced will be granular secured, i.e. the type of credit deriving from home mortgage loans: this involves solving a problem that now affects a significant percentage of society. Mirko also spoke, in response to the need to change the approach to credit recovery, about the change of pace made by MyCredit, which is increasingly establishing itself as an investor and deal originator of the credits it manages. MyCredit's ability to approach credit recovery in a different and effective way has attracted the attention and interest of partners eager to invest in a market that still has much to offer and recover. In 2024, the group will not only confirm and increase its investments in Italy, but will also expand its investment portfolio to new foreign markets.