APS: International Expertise Assisting Cyprus and Greece Tackling Non-Performing Loans

The contribution of APS Holdings in Cyprus and Greece’s efforts to combat the problem of non-performing loans has been proven to be instrumental.

APS Holding is one of the largest debt servicing companies in Europe. It operates in 16 countries and employs over 1,000 professionals. The nominal value of the managed portfolios exceeds €8 billion.

The company expanded to Cyprus through a joint venture with Hellenic Bank, founding APS Debt Servicing Cyprus in July 2017. APS Holding owns 51% majority of the company, Hellenic Bank holds the remaining 49%.

APS Debt Servicing Cyprus undertook the management of Hellenic Bank’s non-performing loans portfolio estimated at about €2.3 billion, and of real estate assets worth €150 million. Moreover, APS Debt Servicing is managing the unsecured retail loans that APS Loan Management Ltd acquired from the Bank of Cyprus, worth €245m.

APS Debt Servicing Cyprus is led by the Regional Head of APS Holding in Greece & Cyprus, Ms. Magdalena Rotaru, who stated that the establishment of APS Debt Servicing Cyprus marks the launching of the first distressed debt platform in Cyprus.

Ms. Rotaru added that APS Debt Servicing Cyprus operations have been successful, and that the company has met all the targets. The company’s specialized and experienced professionals, as well as the international standards of operation and structure are among the company’s competitive advantages.

Since 2018, APS Holdings has been operating in the Greek market as well. In collaboration with IFC, EBRD and Balbec Capital, APS has purchased 120.000 customers’ consumer loans, worth €2.3 billion, from Piraeus Bank.

APS Greece is currently the major portfolio servicer with 40 employees and a number of collaborating law firms. The company has vast expansion opportunities in Greece, and can offer efficient services with solid results for both its investors and the debtors.