Greek market boosts doValue’s growth

Italy’s biggest debt recovery firm doValue will aim to keep the amount of loans it manages stable at 160 billion euros to the end of 2024, while improving its collection rate to 6% from 4%, it said late Tuesday.

doValue, which also operates in Spain and Greece, said it forecasts growth in its three main markets, with Greece outperforming thanks to a strong pipeline of new inflows.

Greece’s higher recovery rates and better margins will lead doValue to increase the relative weight of the country in its portfolio, it said.

The company targets cumulative dividends of at least 200 million euros over the 2021-24 period, which Citi analysts said in a note on Wednesday was higher than markets expected. [Reuters]